2012-09-27 20:18:37 -
Cypress Development Corp. /
Cypress Development Corp. : Cypress Stakes Additional Claims for Gunman
Zinc-Silver Project in Nevada
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
TSX-V Trading Symbol: CYP Telephone: (604) 687-3376
Email: firstname.lastname@example.org Facsimile: (604) 687-3119
September 27, 2012
Cypress Stakes Additional Claims for Gunman Zinc-Silver Project
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pick: CYDVF) is
pleased to announced the staking of 16 additional lode mining claims (approx.
350 acres) covering the north strike extension of carbonate hosted, high-grade
zinc and silver mineralization found at the Company's 100% owned 2400 acre
Gunman Project. The Gunman project is located between the prolific Carlin and
Battle Mountain trends in White Pine County, Nevada.
Gunman zinc-silver project location map:
The staked ground was previously held by Barrick Gold Corporation as part of a
large land package covering their Bald Mountain gold mine, also located in White
Pine County. Barrick, and previously Placer Dome, had held the ground since
The mineralization at Cypress' Gunman property appears to be structurally
controlled along a fault zone that strikes NNE. The mineralization consists of
very high grade zinc oxides and sulfides along with silver, arsenic, gold and
mercury mineralization within Permian age limestone host rocks. Previously
reported assays from Cypress drilling include zinc values in the 5% to >30%
range along with silver values of 10 ppm to 200+ ppm (up to 8 oz/ton silver).
Gold values over 1 gram per tonne also occur locally within mineralized zones.
Significant Gunman high-grade zinc-silver results:
Cypress conducted a drilling program in 2007 that extended limestone hosted zinc
and silver mineralization to the Barrick property line. The final hole of that
program, GD-15, intersected zinc and silver mineralization from 146 to 306 feet
down hole. This mineralization included 21 feet grading 1.06% zinc and 0.34 oz/t
silver from 146 to 167 feet down hole. Hole GD-15 was collared in an area of
recent gravel cover less than 20 feet south of the property boundary and 2200
feet north of the Gunman's RH Main Zone. Cypress has added 6000 feet of
potential strike length extension along the trend of known mineralization along
the range front by staking the lode claims.
Subcropping jasperiod boulders occur in the area of the Gunman RH Main Zone.
These jasperiods are highly anomalous in gold, arsenic, mercury, silver and
zinc. The boulders represent resistant rubble crop which overlay intensely
mineralized and oxidized zones which were discovered by drilling by Western
Mining Corp. (USA) in 1992. Copper oxide mineralization is found in outcrop
along the west flank of the known mineralized areas. The east sides of the
known zones are concealed beneath recent gravel cover along the range front.
The mineralized trend is completely concealed by these recent gravel deposits
north of the main Gunman RH Zone.
The Gunman RH North Zone was found by drilling vertically through the over lying
gravel deposits and into the mineralized limestone beneath. Targeting of hole
GD-15 was done by simple structural projection of the known mineralized trend.
Hole GD drill core picture:
The strike of the known zinc and silver mineralized zones at the Gunman property
is approximately 4200 feet. The recent staking adds an additional 6000 feet of
highly prospective, undrilled ground to the north. The results of hole GD-15,
drilled by Cypress in 2007, strongly suggest that the known mineralization
continues onto the recently staked lode claims. A limited program of rock chip
sample and reconnaissance mapping was completed during the staking program. A
more detailed sampling and mapping program is being planned.
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
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp.
is the Qualified Person as defined by National Instrument 43-101 and is
supervising both the project field work and the preparation of the technical
information in this release.
To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
For further information contact myself or:
Cypress Development Corp.
Toll Free: 800-567-8181
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 news release may contain certain "Forward-Looking Statements" that may
involve a number of risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. For a more detailed
discussion of such risks and other factors, refer to the Company's filings with
Canadian Securities regulators available on www.sedar.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cypress Development Corp. via Thomson Reuters ONE