Cypress Development Files for Permit with BLM for Phase 2 Drill Program at Dean 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
August 10, 2017
Cypress Development Files for Permit with BLM
for Phase 2 Drill Program at Dean Lithium Project in Nevada
Vancouver, BC - Cypress Development C orp. (TSX-V: CYP) (OTCBB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce it has
initiated an application to the Bureau of Land Management (BLM), Nevada, for an
area of disturbance permit to allow the Company access for a second series of
diamond drill ho les on the Dean Lithium project in Clayton Valley, Nevada. The
Company anticipates approval of the application shortly and looks to mobilize a drill
crew into the Clayton Valley beginning of September. The Phase 2 program will
consist of 8 -10 diamond drill holes totaling approximately 3000 feet.
Cypress Clayton Valley, Nevada Lithium Projects location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
Cypress’ Dean Lithium Project is located immediately adjacent to decades of lithium
production belonging to the Albemarle Silver Peak Mine on its west boundary, Pure
Energy's recently released lithium resource estima tion on its southwest boundary
and Cypress's Glory Lithium Project, under an option agreement with Pure Energy
Minerals, on its southern boundary.
Cypress's exploration and core drilling results received to date from its Dean Project
have been very encouraging. A large amount of data has been gathered and is being
analyzed. A 2017 Phase 2 drilling program on the Dean property is being proposed
for the third and fourth quarters to provide further infill data.
Cypress recently announced (News Release June 6, 2017) an extensive 80 to 100
metre-thick blanket of consistent lithium mineralization underlying a large majority of
its 2,700 acre Dean Property. The mineralization covers an area of approximately
two kilometers by four kilometers. The lithium mineralized volume evident on the
explored portion of the Dean property averages in excess of 1,000 ppm lithium (Li).
Dean Project 2017 Phase 1 drill hole location map:
http://www.cypressdevelopmentcorp.com/i/photos/CYP-Dean-Phase-1-Drilling-
Satellite-Plan-Map.jpg
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Cypress is continuing with laboratory studies to explore the highly reactive and
soluble nature of the large volume of lithium-enriched rock seen on the Dean Project,
so as to further understand a method of extraction and ultimately production.
Donald Huston, President of Cypress Development, stated: "This newly discovered
lithium mineralization at the Dean Project is ideally located within a basin that hosts
the only significant lithium pr oduction in the United States. Cypress' Clayton Valley,
Nevada Lithium project is in close proximity to essential mining infrastructure.
Cypress Development believes this discovery has the scale to significantly impact
the future production of lithium in t he Clayton Valley. Cypress also believes this
developing zone could very well represent a long -term, reliable supply of lithium
given the known size, chemistry and geometry of the discovery. The consistent
nature of the currently known lithium mineralization at Dean is highly encouraging for
both the potential size and potential resource extraction methodologies. The drill data
to date, which outlines an area of roughly two kilometers by four kilometers, presents
a strong starting point for planning a resou rce estimation process. This second
phase of diamond drilling should allow the Company to contemplate a sizable
maiden lithium resource calculation on the Dean Project.”
Cypress maintains this large claim block known as the Dean lithium project as a 100
per-cent owned asset.
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 is very active in Clayton Valley, Nevada with its team committed to
systematically exploring its Dean and Glory properties for both a lithiu m-brine
resource and expanding exploration relating to a lithium resource that exists within
the large area of non-hectorite “claystone” discovered at surface that has seen
recent high lithium assays recovered from these same “outcropping claystone”.
Cypress Development Corp. has approx. 35.0 million shares issued and outstanding.
To find out more about Cypress Devel opment Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
“Don Huston”
DONALD C. HUSTON
President
For further information contact myself or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
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Facsimile: 604-687-3119
Email: [email protected]
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
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, other 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 expre ssed in such
forward-looking statements are based on reasonable 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 undert akes no obligation to
update these forward -looking statements 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 ma rket 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.