Overview of Cypress Development's Exploration Projects in Nevada, U.S.A.
Cypress Development Corp. (TSX-V: CYP) is a publicly traded lithium and zinc exploration company whose main assets include the development of two projects located in the State of Nevada, U.S.A. The Company's mission is to increase shareholder value by developing mineral exploration projects near world-class deposits that have the potential of becoming new low cost producers.
Cypress' flagship Dean & Glory Lithium Project is located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation, which has been in continuous operation since 1966. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island, an outcrop of Paleozoic carbonates protruding up through the lakebed sediments.
Cypress controls two claim blocks, Dean and Glory, totalling 4,220 acres. Drilling at Dean in 2017 encountered values averaging 921 ppm Li over an average thickness of 77 meters in 14 holes drilled. Mineralization occurs within montmorillonite clays throughout the sediments to a depth of at least 112 meters. Drilling is ongoing and a resource estimate is expected in Q1-2018.
Metallurgical tests so far have shown the claystone is weak acid leachable with lithium extractions ranging up to 80% in agitated leach tests using sulfuric acid. These high extractions indicate the dominant lithium-bearing minerals present are not hectorite, a refractory clay mineral which requires roasting to liberate the lithium.
Cypress believes these features, along with favorable geographical setting and apparent size of the deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America. With mineralization tested by drilling over a seven kilometer trend, Cypress’ Clayton Valley deposit could develop into a significant long-term source of supply in a politically stable and favorable mining jurisdiction.
Cypress holds a 100% interest in the approximately 1,100 acre Gunman Zinc / Silver Project located in White Pine County, northeast of Eureka, Nevada. Five RC drill programs totaling over 15,000 meters have been completed by Cypress on the Gunman Project with significant near surface grades up to 35% zinc and up to 425 g/t silver over considerable widths encountered at the main RH Zone. Additional drilling will include the RH South Target, located approx. 150 meters south of the main RH Zone, where mineralized outcrops assayed up to 41% zinc and 340 g/t silver.
Robert Marvin, P.Geo., Director, VP of Exploration for Cypress Development is the Qualified Person as defined by National Instrument 43-101 and supervised both the project field exploration and the preparation of the technical information on this website.