TSXV: CYP | OTCQB: CYDVF
VANCOUVER, BC, Dec. 7, 2021 /CNW/ - Cypress Development
Corp. (TSXV: CYP) (OTCQB: CYDVF)
(Frankfurt: C1Z1) ("Cypress" or "the
Company") Cypress Development is pleased to report a successful
pilot plant start-up for extraction testing of lithium-bearing
claystone from the Company's 100% owned Clayton Valley Lithium
Project in Nevada. The first full
test was completed with 72 hours of continuous operation. The
Company expects testing to continue as it awaits final results from
assays.
"The progress so far has been positive, and we are pleased with
the initial results" stated Bill
Willoughby, President and CEO of Cypress Development.
During this first test, sampling was conducted at six-hour
intervals. Analyses of solution samples at various points
throughout the plant were conducted using the ICP unit on-site.
These preliminary results are encouraging, with expected to
better-than-expected values. Final results are pending assays of
these solution samples along with the samples of residues and
precipitates, which have been sent to ALS Global.
Performance within areas of the Pilot Plant:
- Leaching performed as expected, yielding solution grades of 350
to 700 ppm lithium.
-
- Lithium grades increased and decreased based on material
addition to leach.
- The Lionex Direct Lithium Extraction ("DLE") process appears to
be functioning well, yielding a return solution back to leach of
less than 10 ppm lithium.
- The primary and secondary impurity removal stages were combined
to improve efficiency and are delivering low impurity solutions to
the DLE process.
- Solids-liquid separation and washing of the tailings appears to
be performing very well.
- Operating improvements are being implemented.
Qualified Person
Todd Fayram, MMSA-QP, is the
qualified person as defined by National Instrument 43-101 and has
approved the technical information in this release.
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
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.