Cypress Receives Phase 2 Drilling Permits for Gunman Zinc-Silver Project, Nevada
July 31 2014 - 7:00AM
Marketwired Canada
Cypress Development Corp. (TSX VENTURE:CYP) (PINKSHEETS:CYDVF) (FRANKFURT:C1Z)
is pleased to announce the Company has been advised by the Bureau of Land
Management (BLM) Nevada that Cypress' application of a Notice of Intent to
conduct a Phase 2 drilling and exploration program at its wholly owned 1140 acre
Gunman zinc-silver-gold project in White Pine County, Nevada has been approved.
Southern Carlin Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Following a highly successful 2014 Phase 1 exploration and drilling program at
the Gunman project (see news release June 12, 2014), Cypress is moving forward
with a Phase 2 drill program. The very high grade zinc and silver drill
intercepts returned from Phase 1 drilling at the RH Zone, with new exposures of
the mineralization, has led to the conclusion that the spectacular oxide
mineralization is likely a high grade polymetallic vein and breccia system and
represents a very high quality zinc-silver project located in a very favorable
geologic environment.
2014 Phase 1 delineation drilling at the RH Zone returned long, continuous
intervals of very high grade, near surface oxidized zinc and silver
mineralization. Highlights include Hole GMRC-9 which returned a 175 foot down
hole interval of 12% zinc and 121 g/t silver and Hole GMRC-5 which retuned a 55
foot interval of 21% zinc and 147 g/t silver.
The Phase 2 program has begun with a detailed surface rock chip sampling program
focused on additional, reconnaissance-stage targets at the Gunman project known
as the Far South Copper, RH South Zinc, the Far North Zinc Target located
approx. 6000 feet north of the RH Zone and the TQCU Copper Target located
approx. 300 feet west of the RH Zone with assays on 107 rock chip samples
pending.
The 2014 Phase 2 drill program at the RH Zone will consist of approximately 3000
feet of RC drilling at specific zinc and silver oxide targets. Cypress
anticipates the drill program to start around the middle of August.
Gunman Project zone target map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg
The Gunman project is hosted by complex veining and brecciation zones localized
along generally north-south trending faults. The total strike length containing
mineralized positions along this trend is now approximately 9000 feet.
2014 Phase 1 RH Zone Zinc and Silver Assay Results:
----------------------------------------------------------------------------
From To Interval Ag Zn
Hole ID (ft.) (ft.) (ft.) (g/t) (%)
----------------------------------------------------------------------------
GMRC-3 55 95 40 60.3 2.00
----------------------------------------------------------------------------
and 140 155 15 33.5 3.20
----------------------------------------------------------------------------
GMRC-4 20 175 155 128.0 7.20
----------------------------------------------------------------------------
including 125 175 50 87.7 17.09
----------------------------------------------------------------------------
including 135 150 15 83.9 30.64
----------------------------------------------------------------------------
GMRC-5 5 205 200 63.3 8.90
----------------------------------------------------------------------------
including 125 180 55 147.0 21.00
----------------------------------------------------------------------------
including 150 165 15 100.1 32.20
----------------------------------------------------------------------------
GMRC-8 130 185 55 54.3 6.50
----------------------------------------------------------------------------
GMRC-9 50 225 175 121.0 12.00
----------------------------------------------------------------------------
including 130 215 85 209.2 19.70
----------------------------------------------------------------------------
GMRC-10 55 80 25 24.2 4.60
----------------------------------------------------------------------------
and 105 120 15 8.0 1.70
----------------------------------------------------------------------------
and 140 155 15 5.9 1.20
----------------------------------------------------------------------------
and 170 220 50 20.3 8.70
----------------------------------------------------------------------------
GMRC-11 0 150 150 18.3 3.10
----------------------------------------------------------------------------
and 165 215 50 125.6 7.90
----------------------------------------------------------------------------
(i) All intervals above were computed from Chemex assay results of
representative, 5 foot interval samples collected from the reverse
circulation sample return. All intervals have been selected based on a
1% zinc lower cut-off. The intervals above are restricted to contain
no more than one included interval that falls below the 1% zinc lower
cut-off. No high grade cut has been applied. All samples were
continuously collected from each 5 foot interval during drilling. The
samples are large and average approximately 6 kilograms in weight.
(i) g/t = grams per metric tonne.
(i) The true width lengths are estimated to be approximately 65%-75% of
down hole intervals.
As the table above indicates from Phase 1 drilling, zinc and silver
mineralization occurs both as long, highly variable but completely continuous
mineralized down hole intervals (Hole GMRC-9 for example) as well as holes with
shorter intervals of strong mineralization separated by lower grade intervals
(Hole GMRC-10 for example).
July 2014 Video of Cypress Gunman Zinc-Silver Project, Nevada:
https://www.youtube.com/watch?v=j4nAsmQ0eEk
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp. is
the Qualified Person as defined by National Instrument 43-101 and has supervised
both the project field work and the preparation of the technical information in
this release.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metals exploration
and development company with properties in Red Lake, Ontario, Canada, and in
Nevada, U.S.A. The Company is well funded with approximately $1.1 million in its
treasury.
To find out more about Cypress Development Corp. (TSX VENTURE:CYP), visit our
website at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON, President
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 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 financing, and general economic, market or
business conditions. Please see the public filings of the Company at
www.sedar.com for further information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cypress Development Corp.
Donald C. Huston
President
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
Cypress Development Corp.
Don Myers
Director
604-687-3376 or Toll Free: 800-567-8181
604-687-3119 (FAX)
info@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com.
Cypress Development (TSXV:CYP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cypress Development (TSXV:CYP)
Historical Stock Chart
From Apr 2023 to Apr 2024
