Smartstox Report on Cypress Development Corp. February 2010
Publisher: Eric Carlson, Corporate Communications
Author: Smartstox
Below is a link to a Report by Smartstox dated February 2010 on Cypress Development Corp. (TSX-V: CYP) discussing the Company's ongoing drill program on its Broulan Reef gold property in Red Lake, NW Ontario. The property is located adjacent to the south of Goldcorp's Cochenour / Bruce Channel Deposit.
http://www.cypressdevelopmentcorp.com/i/pdf/Smartstox-02-10.pdf
Cypress Development Corp. is a Canadian gold and base metal exploration company developing projects in Red Lake, Ontario, Canada, and in Nevada, U.S.A.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit the Company's website at www.cypressdevelopmentcorp.com.
"Don Huston"
DONALD C. HUSTON
President
Update from the Field on Broulan Reef Drilling
Publisher: Don Myers, Corporate Communications
Author: Don Huston, President
Dip 77.2 degrees
Azimuth last @ 111 degrees
Gyro to determine exact azimuth being done with down hole probe this am
Hole is stable
We have had a great deal of difficulty in managing this hole to the direction (*azimuth) that we desire. There is a tremendous amount of pull on the drill rods always to the North. Rock formations, structures, etc. tend to be laid in a north-south direction (generally speaking), so the drill bit encounters / takes the least path of resistance. Perhaps the hard part is now past us.
I have asked for many opinions in the last couple of months as to what can Cypress expect to accomplish drilling this deep (and expensive). There is a very real belief (CYP/SYH Geo's, Goldcorp, independent Geo's) that the extension of the Gold Eagle ore body crosses our Broulan Reef property, and, with the knowledge we are developing of the geological structures here, are well within our grasp.
The more we drill, the more data we garner, the better our ability to assess this property becomes.
We now have a specific target area that we are attempting to drill into. This very real target area lives in the Balmer Assemblage rocks immediately underneath the known flat lying "thrust package" (cross cutting fault). It is now our job to drill into this area and see what is there.
There is no doubt that our business of exploration is high risk, but there is also NO DOUBT that the rewards can be tremendous.
We are NOT digressing from our task of properly and fully exploring this Broulan Reef Project. This property is, without a doubt, very well located, geologically speaking.
Goldcorp, et al, are also very aware of the potential the Broulan Reef property has to host an ore body.
As to Cypress' latest announcement re: Lou Chastko, Regional Exploration Manager for Goldcorp in Red Lake, joining our Advisory Board, the Company believes his expertise in defining gold potential bearing zones within the Balmer Assemblage beneath the shallow waters of the Bruce Channel will be a major asset in exploring the Broulan Reef.
Regards,
Don Huston
President
Cypress Development Corp.
dhuston@ninetyeight.com
Drilling Update on Broulan Reef, Red Lake Project, Ontario
Publisher: Jordan Paul - Corporate Communications
Author: Don Huston - President
Drilling continues on the Cypress / Skyharbour Broulan Reef property with progress being seen to achieving depth on the McKenzie Island hole BR09-01. The hole is now at approximately 1295 metres in length with an azimuth of about 94 degrees and with a dip of 78 degrees.
Broulan Reef Drilling Location Map |
The companies have had issues the last month in attempting to keep the mother hole heading in an easterly direction. The foliation, hardness and general rock character have tended to make the drill hole deviate to the north with regularity. The companies have had to install several steel wedges in this mother hole to be able to direct the drill to the highly prospective geology underlying the "Thrust Package" within the Balmer Assemblage. This has attributed to slower meterage attained in the last few weeks on the Broulan Reef drilling.
However, the companies seem to have now overcome these structural dilemmas and drilling is continuing to head in the designated easterly direction. The drill core indicates that the known iron formation has now been intersected at 1221 metres. The Balmer Assemblage is expected in the next few hundred metres of drilling.
The anticipated length of this mother hole will be approximately 2700 metres. A series of wedge holes will be established from this main hole to allow Cypress and Skyharbour to properly explore the geologic horizon immediately below the existing "Thrust Package" within the Balmer Assemblage of rocks. The companies believe that the area immediately under the Thrust Package is highly prospective for the gold hosted in the Bruce Channel deposit owned by Goldcorp adjoining Cypress / Skyharbour property on our north boundary.
The two latest reports from the field on the Broulan Reef written by Bob Marvin and David Busch
David Busch Report on Broulan Reef May 2009
Broulan Reef Property Schematic Cross Section Looking North (June 10, 2009)
Drilling Update on Broulan Reef / Bruce Channel, Red Lake Project, Ontario
Dip of hole 72.5 degrees and the Azimuth is 267 degrees.
Chibougamau drilling achieved approximately 180 metres with the last drill bit. The company is pleased with the progress of the drilling to date. Machinery and manpower continue to work well. Rock has softened somewhat and is allowing for good metre production.
Of Note re: Broulan Reef drilling since January 15, 2009;
- Definitive rock change in the Balmer Assemblage since approx. 1800 metres.
- Mafic / Ultramafic rocks with Breccia zones contained within (loose breccia formation has allowed for good fluid flow).
- Moderate alteration with sulfides (+ 5%).
- Foliation of rock is increasing.
- Pervasive silicate flooding throughout.........important!
- Abundant calcite observed......rocks are also chloritic.
- Biotite ...(a dark brown mineral) has been observed in different sections of the core (an important and reliable indicator).
- Iron carbonate also evident in sections.
Cypress / Skyharbour have now encountered a felsic dyke (thrust) / or shear approximately 3 - 4 metres wide at a depth of about 2040 metres down hole.
This is interpreted to be the same Thrust / or Shear as seen on the Gold Eagle and Cochenour Mine properties.
Many holes on Gold Eagle have drilled through this same felsic dyke thrust / shear into a very favorable geological setting.
The foot wall (below) of the thrust is known to be a major host area for gold at the past producer Cochenour Mines and the Gold Eagle property.
MANAGEMENT OF CYPRESS / SKYHARBOUR CONSIDER ALL OF THE ABOVE GEOLOGY MOST IMPORTANT FOR THE SUCCESSFUL INTERSECTING OF STRUCTURES CARRYING GOLD ON THE BROULAN REEF.
These above geological features are all very good marker horizons in determining where, and if, ore is contained here on the Broulan Reef.
We are seeing the same rocks to the Gold Eagle / Bruce Channel formation and the Finn Zone formation (and in the proper sequences).
This must bode well for CYP / SYH.
One must have ALL the right ingredients to bake a cake properly, "this rule never ever changes".
This is all very good news for the success of this drill program.
Don Huston
President
Cypress Development Corp