Completes Phase 2 Drill Program, Acquires Additional Land at Gunman Zinc-Silver Project, Nevada
Cypress has staked an additional 56 claims tied onto the Company's existing land package to the north, east and west, increasing the Gunman project to approximately 2300 acres. The additional lode claims were staked to cover highly deformed and altered zones located during the Phase 2 sampling program and to cover additional targets being developed in alluvial covered areas to the east of the outcropping 3 kilometer long mineralization trend at the project.
The Company has now completed its 2014 Phase 2 drill program following a highly successful 2014 Phase 1 exploration and drilling program at the Gunman project (see news release June 12, 2014). A further 11 reverse circulation delineation holes (holes GMRC-14 to GMRC-24) were completed at the main RH Zone for a total of 3370 feet in the Phase 2 drill program. Phase 1 drilling at the RH Zone returned long, continuous intervals of very high grade, near surface oxidized zinc and silver mineralization. Highlights include Hole GMRC-9 which returned a 175 foot down hole interval of 12% zinc and 121 g/t silver and Hole GMRC-5 which retuned a 55 foot interval of 21% zinc and 147 g/t silver.
About Cypress Development Corp.
Cypress Development Corp. (CVE:CYP) (OTCMKTS:CYDVF) is a publicly traded exploration company focused on developing the Company's 100%-held Clayton Valley Lithium Project in the State of Nevada, U.S.A.
Cypress' Clayton Valley Lithium Project is located immediately east of Albemarle's Silver Peak mine, North America's only lithium brine operation. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field. With mineralization tested by drilling over a seven-kilometer trend, the size of the deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America.
Cypress Development Corp. has approx. 61.3 million shares issued and outstanding.
To find out more about Cypress Development Corp. (CVE:CYP), visit our website at http://www.cypressdevelopmentcorp.com
Cypress Development Corp.