Completes Phase 2 Drill Program, Acquires Additional Land at Gunman Zinc-Silver Project, Nevada
Vancouver, Sep 11, 2014 AEST (ABN Newswire) - Cypress Development Corp. (CVE:CYP) (CYDVF:OTCMKTS) (C1Z:FRA) is pleased to announce it has doubled the size of its land package through staking and has completed its Phase 2 drill program at its wholly owned 2300 acre Gunman zinc-silver-copper project in White Pine County, 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%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier target that has the potential to impact the future supply of lithium for the fast-growing global lithium-ion battery market.
Cypress Development Corp. has approx. 74.3 million shares issued and outstanding.
To find out more about Cypress Development Corp. (CVE:CYP), visit our website at https://www.cypressdevelopmentcorp.com
Cypress Development Corp.