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Cypress Development Corp.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Clayton Valley | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 5/19/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-5-2020: Cypress Development Corp. announces a Pre-Feasibility Study report for its Clayton Valley deposit at the Clayton Valley project. PFS results incl. post-tax NPV (8%) of US$1.052B & IRR of 25.8%. Vancouver, BC - Cypress Development Corp. (TSX-V: | |
| Resources: | (Resources, M+I): 593.3Mt @ 1,073ppm Li | |
| CP/QP: | [Reserve] n/a (n/a) | |
| ABSTRACT: | Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce positive results from a Prefeasibility Study (PFS) of the Company’s Clayton Valley Lithium Project in Nevada, U.S.A. The PFS was prepared by Continental Metallurgical Services (CMS) and Global Resource Engineering (GRE). Todd Fayram (CMS), Terre Lane (GRE), and Daniel Kalmbach are the authors. Cypress CEO Dr. Bill Willoughby stated "This PFS is a major milestone for Cypress. These positive results take us closer to our goal of developing a world-class lithium deposit. Cypress’ land position and resources afford us the opportunity for a long-life project with low operating costs and potential to be a significant source of lithium for the United States.” The key features of the claystone deposit include its large size, surface exposure and flat-lying nature. These features allow mining with negligible strip ratio due to minimal overburden and no interbedded waste, and no drilling or blasting in excavation. Metallurgical testing indicates low cost processing can be achieved by leaching with low acid consumption and high lithium recovery. Self-generated power from a 2,500 tpd acid plant is included in the project’s costs. | |
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