Cypress Development Confirms Positive Metallurgy for Clayton Valley Lithium Project in Nevada
Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX Venture Exchange Symbol: CYP
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
NEWS RELEASE
February 26, 2019
Cypress Development Confirms Positive Metallurgy for Clayton Valley
Lithium Project in Nevada
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to report the completion of
the first phase of metallurgical testing in the prefeasibility study (PFS) on the
Company’s 100% held Clayton Valley Lithium Project in Nevada. The testing was
successful in confirming the range of parameters used in the 2018 Preliminary
Economic Assessment (PEA). The results demonstrate lithium extractions of 75 to
83% and sulfuric acid consumptions ranging from 85 to 132 kg/t.
Following the release of the PEA in October 2018, metallurgical testing continued and
is ongoing at Continental Metallurgical Services (CMS) in Butte, Montana. CMS
completed over 75 individual leach tests representing more than 250 laboratory hours
in leaching composite sample material from the project. The objective of the program
was to simulate the leaching portion of the process flowsheet from the PEA, which
consists of agitated tank leaching. The initial tests were single -stage leaching at
specific temperatures, times, and percent-solids levels. The tests then progressed to
multiple-stage leaching using variable acid conditions and residence time, simulating
the leach process from tailings -wash through to final pregnant leach solution (PLS).
Tests were conducted at a lower range of temperatures than the 70 to 90 ⁰ C range
assumed in the PEA. Residence time in the primary leach stage was from 1 to 4 hours,
comparable to the 2 -hour time assumed in the PEA. Recoveries of lithium were
consistently achieved and optimized in the range of 75 to 83% for varying sets of leach
conditions.
This testing was conducted on bulk composites prepared from property-wide drill cores
which were also used in the 2018 check assay program. Further leach testing will be
conducted on samples collected from within the planned mine area in the PFS. The
timeline for these additional tests is dependent upon additional drilling, which was
delayed by various factors. However, to expedite testing for the next phase, assay
reject material from three drill holes, GCH -2, DCH -15 and DCH -17, was used to
prepare 13 composite samples representing the major clay units encountered within
the planned mine area. In addition to the testing on these samples, scope for further
optimization of the leaching process remains. To help accelerate the program, the
Company provided CMS with an ICP unit for its use in assaying at CMS’s lab. All final
assays for the solids and solutions are confirmed by ALS-Chemex.
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While these steps were time-consuming, the focus for the remaining work for the PFS
is not further optimization of leaching, but to demonstrate lithium production from the
PLS into a saleable form. In the PEA process flowsheet, this is accomplished by
purification, evaporation and crystall ization steps. CMS completed a successful
demonstration in the first phase by purifying a 10-liter sample of leachate grading 110
parts per million (ppm) lithium and concentrating it to over 4,000 ppm lithium via
evaporation. The resulting concentrated sol ution contained only negligible levels of
magnesium and other impurities. Purification, evaporation and crystallization remains
the base case assumption for the PFS and will be confirmed in phase two of testing.
Alternative methods for lithium production w ill also be examined, these include ion
exchange (IX) resins and membranes. The Company and CMS have demonstrated
some success using their own in -house IX resin for the extraction of lithium from the
PLS. Cypress has also contracted with a third party for testing of its IX resin.
Cypress CEO Bill Willoughby stated, “We are very pleased with progress on the first
phase. While it was time consuming, the information gained on the behavior of the clay
during leaching is invaluable and represents a huge step forward in our understanding
of the leaching process. With this as a foundation, we are confident in moving forward
to the next phase of testing in the PFS.”
Todd Fayram, MMSA QP #1300, President of Continental Metallurgical Services, LLC,
is the qualified person as defined by National Instrument 43-101 and has approved of
the technical information in this news release.
About Cypress Development Corp.:
Cypress Development Corp. 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.
Cypress Development Corp. has approx. 72.5 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX -V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Dr. Bill Willoughby”
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: [email protected]
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PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward -looking
statements". All statements in this release, oth er than statements of historical facts, that
address events or developments that management of the Company expects, are forward -
looking statements. Although management believes the expectations expressed in such
forward-looking statements are based on reas onable assumptions, such statements are not
guarantees of future performance, and actual results or developments may differ materially
from those in the forward-looking statements. The Company undertakes no obligation to update
these forward -looking statem ents if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to differ materially from those
in forward-looking statements, include market prices, exploration and development successes,
continued availability of capital and financing, and general economic, market or business
conditions. Please see the public filings of the Company at www.sedar.com for further
information.