Cypress Development Corp. / Cypress Reviews 2014 Highlights and
2015 Exploration Plans . Processed and transmitted by NASDAQ OMX
Corporate Solutions. The issuer is solely responsible for the
content of this announcement.
Suite 1610 - 777 Dunsmuir Street,
Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX-V
Trading Symbol: CYP Email: info@cypressdevelopmentcorp.com |
Telephone: (604) 687-3376 Facsimile: (604)
687-3119 |
NEWS
RELEASE
January 20, 2015
Cypress
Reviews 2014 Highlights and 2015 Exploration
Plans
Vancouver, BC - Cypress Development
Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z)
("Cypress" or the "Company") announces an update to shareholders
with a year-end review of the Company's activities in 2014 and is
providing exploration plans for 2015.
Cypress continues to expand its
resource at its 100% owned 2,300 acre Gunman zinc-silver project
located directly west of Barrick's Bald Mountain gold mine complex
on the southern Carlin mineral trend in White Pine County,
northeast Nevada. The Company maintains a 100% interest in the
highly prospective 4,700 acre Mackenzie Island gold property in the
heart of the Red Lake gold camp in northwestern Ontario. The
McKenzie Island property is located west and adjacent to Goldcorp's
Cochenour / Bruce Channel gold mine.
Highlights for
2014:
- Completed a National Instrument
43-101 Technical Report on the Gunman zinc-silver project, Nevada
in February.
- Completed a very successful Phase
1 RC drill program on the Gunman zinc-silver project on the RH Zone
in May.
- Phase 1 results include Hole
GMRC-9 assaying 175 foot interval that grades 121.0 g/t silver and
12.0% zinc starting at a depth of 50 feet.
- Completed a very successful Phase
2 RC drill program on the Gunman zinc-silver project on the RH Zone
in August.
- Phase 2 results include Hole
GMRC-16 assaying 230 foot interval that grades 83.4 g/t silver and
13.4% zinc starting at surface.
- Doubled size of Gunman, Nevada
land package in September.
- Completed a detailed surface
sampling program (zinc, silver, copper) on the Gunman, Nevada RH
South Target in September.
- Purchased high resolution
airborne magnetometer survey data over the Gunman, Nevada project
area in December.
- Purchased the remaining 20%
interest in Red Lake, Ontario properties to own 100% of the
Mackenzie island gold project.
- Maintained the Company's key gold
properties on Mackenzie Island, Red Lake, Ontario in good
standing.
- Reviewed and compiled all past
and current data relating to the Mackenzie Island gold
project.
Gunman
Zinc-Silver Project, Nevada:
Gunman Project Southern Carlin
Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Cypress completed thirteen reverse
circulation (RC) drill holes in May 2014 at the Gunman zinc-silver
project in eastern White Pine County, Nevada. The drilling program
totaled 3520 feet and was directed at three targets areas located
in the central portion of the property.
Table 1: May 2014 Phase 1 drill
program highlights on RH Zinc-Silver Zone
Hole ID |
From FT |
To FT |
Interval FT |
Ag G/T |
Zn% |
GMRC-4 |
20 |
175 |
155 |
128.0 |
7.2 |
including |
125 |
175 |
50 |
87.7 |
17.1 |
including |
135 |
150 |
15 |
83.9 |
30.6 |
GMRC-5 |
5 |
205 |
200 |
63.3 |
8.9 |
including |
125 |
180 |
55 |
147.0 |
21.0 |
including |
150 |
165 |
15 |
100.1 |
32.2 |
GMRC-9 |
50 |
225 |
175 |
121.0 |
12.0 |
including |
130 |
215 |
85 |
209.2 |
19.7 |
* G/T = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of
downhole intervals.
A further eleven RC delineation
drill holes were completed in August 2014 in a Phase 2 program at
the Gunman project in Nevada. The drilling program totaled 3370
feet and was directed at the main RH Zone located in the central
portion of the property.
Table 2: August 2014 Phase 2
drill program highlights on RH Zinc-Silver Zone
Hole ID |
From FT |
To FT |
Interval FT |
Ag G/T |
Zn% |
GMRC-15 |
75 |
225 |
150 |
74.9 |
13.6 |
including |
85 |
185 |
100 |
108.0 |
20.2 |
GMRC-16 |
0 |
230 |
230 |
83.4 |
13.4 |
including |
125 |
220 |
95 |
164.8 |
26.8 |
GMRC-20 |
0 |
210 |
210 |
60.3 |
6.8 |
including |
55 |
175 |
120 |
90.7 |
11.3 |
including |
150 |
170 |
20 |
53.3 |
32.5 |
including |
85 |
115 |
30 |
153.0 |
9.4 |
including |
125 |
175 |
50 |
94.8 |
17.3 |
GMRC-22 |
90 |
150 |
60 |
34.4 |
16.2 |
including |
105 |
145 |
40 |
43.8 |
23.9 |
including |
105 |
130 |
25 |
60.4 |
25.9 |
* G/T = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of
downhole intervals.
Geologic data collected during the
August 2014 Phase 2 sampling program clearly shows that the
mineralized rock units at the RH South Target are nearly identical
to those known from drilling and limited outcrop at the strongly
mineralized main RH Zone.
Gunman Project, Nevada zone target
map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman2014Claims.jpg
Assays from chip and grab samples
confirm very high grade zinc, silver and copper mineralization are
present at surface at the RH South Target.
Table 3: August 2014 surface
sampling highlights on RH South Target
Sample ID |
Chip or Grab |
Ag G/T |
Zn% |
Cu% |
SRH CC-3 |
4 meter Chip |
16.2 |
9.5 |
0.0 |
SRH CC-4 |
5 meter Chip |
26.3 |
5.1 |
0.0 |
SRH CC-6 |
3 meter Chip |
36.8 |
17.0 |
0.2 |
SRH CC-8 |
Grab |
344.0 |
2.3 |
13.5 |
SRH CC-12 |
Grab |
16.6 |
42.0 |
0.2 |
SRH CC-13 |
Grab |
143.0 |
2.2 |
14.5 |
SRH CC-14 |
Grab |
22.2 |
19.6 |
2.3 |
SRH CC-15 |
Grab |
122.0 |
1.9 |
14.8 |
* G/T = grams per metric tonne.
* Grab samples are selective by nature and are unlikely to
represent average grades of any deposits.
Based upon the exceptional
exploration results to date, Cypress Development is presently
planning its next phase drill program for the Gunman project,
Nevada, expected to begin this spring.
Mackenzie Island
Gold Project, Red Lake, Ontario:
Cypress has compiled and completed
an extensive review of all past and present available data of its
St. Paul's Bay and Mackenzie Island claims comprising the Mackenzie
Island gold project. Detailed available Magnetometer data presents
a strong case for potential gold targets along the southwest flank
of the known Dome Stock within the St. Paul's Bay claims. Cypress
has encountered intersections of 1.0 to 2.0 g/t gold over 5 meter
widths including Hole M05-3 assaying 0.2 meter interval of 23.9 g/t
gold and Hole M05--14 assaying 0.5 meter interval of 17.0 g/t gold
in past drill programs. The Company has also compiled data
available on the north side of the Dome Stock and it is evident
that a major geological contact exists between the greenstone host
volcanics and the intrusive. This contact stretches a few
kilometers east to west across Mackenzie Island in the middle of
Cypress' claim group. The Company is in the planning stage
for an exploration program for the summer of 2015.
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.
Quality
Assurance
Detailed Notes on Chemex Assay
Procedures Used: A basic aqua regia-ICP multi-element package
was run on 50 gram splits from 250 gram master pulps.
Intervals assaying >100 grams/tonne silver and/or 1% zinc were
rerun using a complete aqua regia digestion followed by ICP-AES
analysis. Intervals assaying greater than 30% zinc following
complete aqua regia digestion were then re-assayed from a fresh 50
gram pulp using classical titration methods.
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.
To find out more about Cypress
Development Corp. (TSX-V: CYP), visit our website at
www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Don Huston"
DONALD C. HUSTON
President
For further information contact myself
or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com
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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Cypress Development Corp. via Globenewswire
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