Cypress Drills 107 meters of 1134 ppm Lithium, Expands Mineralized Zone in Clayton Valley, 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
January 09, 2018
Cypress Drills 107 meters of 1134 ppm Lithium, Expands Mineralized
Zone in Clayton Valley, Nevada
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to announce results from
two more core holes from the Company’s Clayton Valley , Nevada drill program .
Today’s results in clude an intersection of 1 07 meters of 1 134 ppm Li within hole
DCH-13 and 76 meters of 733 ppm Li within hole DCH-14, both located on the Dean
property. Hole DCH-13 represents one of the longest and higher grade drill results
from the property to date as Cypress continues to expand the lithium mineralized
zone.
Cypress Clayton Valley, Nevada Lithium Project location map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3548/cyp-clayton-topo-
satalite-small.jpg
Drilling Highlights:
The intersections reported are the weighted average of all core recovered
in each hole, from surface to the end of the hole. The results continue to
demonstrate the presence of lithium mineralization over a large thickness
of claystone.
The two holes are located in between the fence of holes in DCH -10, -11
and -12, to the southwest and DCH -09, to the northeast, and support the
observed continuity of mineralization over a long northeast trend ,
extending approximately 4 kilometers in length and 2 kilometers in width
across the Dean property.
In DCH -13, the lithium values increased at depth, starting 24.8 meters
below surface, and averaging 1206 ppm Li over 88.4 meters.
DCH-13 ended in 3.0 meters of 912 ppm Li. The hole was terminated due
to operating constraints and remains open at depth.
The grade increase was observed coincident with a redox boundary,
where material above the boundary is oxidized and light grey in color, and
material below the boundary it is reduced and dark grey and green to
black in color . This redox boundary has been observed at similar depth
from surface in other drill holes.
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Drilling in the fall 2017 program has been completed, with 4 holes drilled
on the Glory property to the south. Results f rom these holes are
anticipated later in the month.
2017 Dean & Glory Projects, Clayton Valley, Nevada drill hole map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp-dean-and-glory-
drillingsm.jpg
TABLE. Summary of Dean Drill Holes DCH 13 and 14
Intersection (m) Lithium Values (ppm Li)
Drill Hole From To Length Min Max Avg
DCH-13 5.5 112.2 106.7 588 1828 1134
includes 24.8 112.2 88.4 728 1828 1206
includes 42.6 74.9 32.3 1014 1828 1481
DCH-14 2.9 78.6 75.7 442 1023 733
Notes: ppm=parts per million, m=meters, Avg=average weighted value by sample length.
Laboratory Test Work
Extraction studies are underway to determine the solubility of the lithium and other
mineral constituents within the claystone. Representative samples of oxidized and
reduced material from DCH -05 were delivered to SGS in Lakefie ld, Ontario. These
initial bench-scale scoping tests revealed m oderate extractions of lithium in sulfuric
acid solution, increasing to 74% in both sample types with increasing temperature s.
The extractions were achieved with relatively low additions of sulfuric acid for lithium-
bearing claystone deposits, measured at a rate of 140 kg to 170 kg of acid per tonne
of material. The results are encouraging and clearly indicate that the extractions and
acid consumptions of the Cypress’ Clayton Valley claystone are significantly better
than seen in refractory claystone deposits. Further test work is underway to improve
the results by refining the leach conditions, checking for any mineralogical variability
across the properties, and determining methods of recovery of the lithium from the
leach solutions.
Summary of Leach Tests
Test Sample Head Assay Temp Extraction (%)
ID ID ppm Li oC Li
OL-02 Oxidized 860 room 39
RL-02 Reduced 1100 room 55
OL-06 Oxidized 860 80o 74
RL-06 Reduced 1100 80o 74
Samples were ground to minus -10 mesh and leached with a solution of 5% su lfuric
acid for 4 hours at 10% solids. The leach solution was monitored but no addition al
sulfuric acid was required to maintain the pH below 1.0. The mixture was then filtered
and rinsed and residue and solutions submitted for assay.
Resource Definition
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The Company is reviewing drill results. Additional holes are planned for the first
quarter of 2018 to infill and connect the Dean and Glory areas of drilling. The
Company anticipates the further work will support a resource estimation and
preliminary ec onomic assessment (PEA) upon completion of the drilling,
metallurgical studies and gathering necessary economic data.
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. The Company is working to advance the
project into development by following its program of exploration drilling and
metallurgy. Cypress is very active in Nevada, with its geologi cal team focused on
systematically exploring its properties for lithium.
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. 54.5 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.
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Investor Relations
Telephone: 604-639-3851
Toll Free: 800-567-8181
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 -
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looking statements. Although management believes the expectations expressed 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 undertakes 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 market prices, exploration and development
successes, continued availability of capital and financ ing, and general economic, market or
business conditions. Please see the public filings of the Company at www.sedar.com for
further information.