TSXV: CYP | OTCQB: CYDVF
VANCOUVER, BC, Nov. 10, 2021 /CNW/ - Cypress Development
Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1)
("Cypress" or "the Company") is pleased
to report extraction testing of lithium- bearing claystone from the
Company's 100% owned Clayton Valley Lithium Project ("Project") in
Nevada has commenced. The test
work is ongoing at Cypress' pilot plant in Amargosa Valley, Nevada, and utilizes
chloride-based leaching combined with the Chemionex—Lionex process
for Direct Lithium Extraction (DLE).
"The pilot plant is operating as designed. Leaching is now
underway on lithium clay" stated Bill
Willoughby, President and CEO of Cypress. "I would like to
thank the team for doing an excellent job in bringing the pilot
plant to this point, and we look forward to obtaining the test
results from the program."
The pilot plant is located at a secure facility, approximately
100 miles (160 km) southeast of the Company's Clayton Valley
Lithium Project, operated by del Sol Refining, Inc. The pilot plant
test program is intended to confirm and optimize the extraction of
lithium from Cypress' Project, following the recommendations
outlined in the Company's Pre-Feasibility Study. Operations
are under the direction of Continental Metallurgical Services,
Llc., with support from del Sol Refining, Inc., and Chemionix
Inc..
Pilot Plant Photos
Cypress Development Pilot Plant Photo 1
Cypress Development Pilot Plant Photo 2
Cypress Development Pilot Plant Photo 3
About Cypress Development Corp
Cypress Development Corp. is a Canadian advanced stage lithium
exploration company, focused on developing its 100%-owned Clayton
Valley Lithium Project in Nevada,
USA. Work completed by Cypress led to the discovery of a
world-class resource of lithium-bearing claystone adjacent to the
Albemarle Silver Peak mine, North
America's only lithium brine operation. The results of a
positive Pre-Feasibility Study for the Clayton Valley Lithium
Project were announced by Cypress Development in August 2020. Cypress Development trades on the
TSX Venture Exchange under the symbol CYP, and on the OTCQB under
the symbol CYDVF.
ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
www.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.
Cautionary Note Regarding Forward-Looking
Statements
This release includes certain statements that may be deemed
to be "forward-looking statements". Forward-looking statements
are subject to risks, uncertainties and assumptions and are
identified by words such as "expects,"
"estimates," "projects," "anticipates," "believes," "could,"
"scheduled," and other similar words. 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.
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SOURCE Cypress Development Corp.