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Cypress Development Corp.
Summary
| Project: | Clayton Valley | |
|---|---|---|
| Deposit: | Dean | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 5/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-5-2017: Cypress Development Corp. announces an Exploration/Drilling Update report for its Dean deposit at the Clayton Valley project. Drilling results incl. 111.71m @ 846.9ppm Li from 0.46m. Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert Marvin (Internal) | |
| ABSTRACT: | Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCBB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or the “Company”) reports that a Phase 1 core drilling program has now been completed on the Company’s 100% held Dean Lithium Claystone Project in Clayton Valley, Nevada. A nine hole exploratory core drill program was carried out under the supervision of Cypress VP of Exploration Robert Marvin, PGeo. Cypress is pleased to publish assay results from the first 5 holes at this time. The five drill holes clearly show that a very large, tabular, lithium mineralized formation underlies the Dean property. All five holes reported here have intersected continuous, consistent grades of lithium mineralization of +1,000 ppm on average. The NQ core drilled exhibits excellent recovery of nearly 100%. An east-west section of approximately 4,000 feet has been explored at nominal 1,000 foot intervals in holes DCH-01 to DCH-05. Average mineralized thickness indicated by the downhole assay data is greater than 220 feet. All intercepts start at near surface. Lithium mineralization appears to thicken and increase in grade towards the eastern portion of the Dean Project, as evidenced by the results received to date of the most easterly hole DCH-05. The rocks hosting the continuous consistent lithium mineralization are a thick section of interbedded, ash and silt rich, mudstones and claystones, along with locally significant volcanic ash units, which constitute the logged downhole stratigraphy. The interbedded host sequence is highly calcareous throughout. | |
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