Cypress Samples Up To 3730 Ppm Li At Dean Lithium Project In Clayton Valley, Nevada

VANCOUVER, British Columbia, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the "Company") is pleased to announce that the Company has received additional results from a Phase 2 sampling program at Cypress' 2,700 acre Dean Lithium Brine/Claystone Project located in Clayton Valley, Esmeralda County, Nevada.

Cypress Clayton Valley Lithium Project, Nevada location map:

The Company's 2,700 acre Dean Claim Group is located adjacent to producing lithium brine wells belonging to the Albemarle Silver Peak Mine on its west boundary, Pure Energy's resource area on its southwest boundary and Cypress' existing Glory Clayton Valley Project, optioned to Pure Energy, on its southern boundary.

In October, Cypress initiated a Phase 2 detailed surface sampling program on the Company's 100% owned Dean Project. Another 72 samples were collected and submitted for analysis for lithium content.

  • Maximum lithium value in claystone/mudstone was 3730 ppm lithium (0.82% Li20 equivalent).
  • 8 samples assayed greater than 2000 ppm lithium (0.43% Li20 equivalent).
  • 29 samples assayed greater than 1000 ppm lithium (0.22% Li20 equivalent).
  • An area of >2 square kilometers has been identified as a new high-grade zone.
  • The new zone has been named the Frontera Verde Zone and this zone is open for expansion to the north and south.
  • Initial chip channel samples demonstrate vertical continuity of mineralization to 3.25 meters (see table 1 below).
  • BLM permitting is underway in preparation for drilling of the new zone.

Table 1: Cypress Dean Outcrop Sampling Results Highlights
Sample # Rock Type Li ppm   Sample # Rock Type Li ppm  
Dean-26 Mudstone 640   CV00802 Claystone 3730  
Dean-27 Mudstone 900   CV00803 Mudstone 1660  
Dean-28 Claystone 1350   CV00805 Mudstone 1000  
Dean-41 Claystone 1100   CV00806 Claystone 1030  
Dean-44 Claystone 1890   CV00810 Claystone 1480  
CV00210 Claystone 2040   CV00811 Claystone 1320  
CV00221 Claystone 2310   CV00812 Claystone 1750  
CV00224 Claystone 3830   CV00813 Claystone 2130  
CV00225 Mudstone 920   CV00814 Mudstone 1000  
CV00226 Mudstone 910   CV00818 Mudstone 1640  
CV00790 Mudstone 2440   CV00819 Mudstone 1450  
CV00792 Mudstone 510   CV00820 Mudstone 800  
CV00793 Mudstone 510   CV00821 Mudstone 1150  
CV00794 Mudstone 2530   CV00822 Siltstone 810  
CV00795 Claystone 1030   CV00823 Ashstone 570  
CV00796 Mudstone 780   CV00824 Claystone 1090  
CV00797 Mudstone 1770   CV00825 Mudstone 1110  
CV00798 Mudstone 1780   CV00826 Mudstone 750  
CV00799 Mudstone 1410   CV00827 Claystone 1060  
CV00800 Claystone 1590   CV00801 Claystone 2220  
CV00828 2.5 meter chip channel 1790   CV00829 3.25 meter chip channel 1390  

*Note ppm = parts per million, Li = lithium metal