Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) is pleased to announce results from the Company’s first three holes completed in its fall, 2017 drill program at its 100%-owned Dean and Glory Lithium properties in Clayton Valley, Nevada. The results include an intersection of 102.7 meters of 1029 ppm Li within DCH-11 on the Dean property.
Cypress Clayton Valley, Nevada Lithium Project location map:
Cypress has completed five core holes in its fall program on the Dean property. The results summarized here are from the first three holes, DCH-10, -11 and -12. Results from the remaining holes on Dean are expected in December, and will aide in determining where additional drilling is needed. In the meantime, as previously announced, the drill rig was moved south onto the adjoining Glory property where drilling is continuing and seven holes are planned.
Dean Drilling Highlights:
2017 Dean & Glory Projects, Clayton Valley, Nevada drill hole map:
TABLE. Summary of Dean Drill Holes DCH 10, 11 and 12
|Intersection (m)||Lithium Values (ppm Li)|
Notes: ppm=parts per million, m=meters, Avg equals average weighted value by sample length. * DCH-10 ends in 1068 ppm Li.
The fall 2017 program was planned for 12 to 14 drill holes, up to 1500 meters of core. All holes are vertical and drilling to be divided between Cypress’ contiguous Dean and Glory properties. The properties cover an area totaling 4,220 acres and are 100% controlled by Cypress. Drilling is now underway on Glory.
Cypress believes its lithium-bearing claystone deposit in Clayton Valley, which is located due east of Albemarle’s Silver Peak lithium brine operation, has the potential to become a significant source of lithium. Cypress is very active in Nevada, with its geological team focused on systematically exploring its properties for lithium. In addition to the drilling in progress, Cypress is continuing with laboratory test work to determine the nature and distribution of the lithium in the claystone with the goal of identifying a cost-effective means of extraction.
Robert Marvin, B.Sc., PGeo, VP of Exploration and Director of Cypress Development Corp., is the qualified person as defined by National Instrument 43-101 and has approved of the technical information in this release.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc exploration company that continues to acquire and develop potentially viable mineral projects in the State of Nevada, U.S.A.
Cypress Development Corp. has approx. 54.1 million shares issued and outstanding.
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