VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the "Company") is pleased to announce results from two additional core holes, DCH-15 and DCH-16, at the Company's Clayton Valley, Nevada lithium project. Today's results include intersections of 126 meters averaging 1068 ppm Li in DCH-15 and 121 meters averaging 1146 ppm Li in DCH-16. The two intersections, located in the southeastern corner of the Dean property, are the best the Company has drilled to date in terms of contained lithium, and are significantly positive results as Cypress closes in on completing work on a maiden resource estimate.
Cypress Clayton Valley, Nevada Lithium Project location map:
2017 Dean & Glory Projects, Clayton Valley, Nevada drill hole map:
TABLE. Summary of Dean Drill Holes DCH 15 and 16
|Intersection (m)||Lithium Values (ppm Li)|
Notes: ppm=parts per million, m=meters, Avg=average weighted value by sample length.
Robert Marvin, B.Sc., PGeo, VP of Exploration and Director of Cypress Development Corp., is the qualified person as defined by National Instrument 43-101 and has approved of the technical information in this release.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on developing the Company's 100%-owned Clayton Valley lithium project in the State of Nevada, U.S.A.
Cypress' Dean & Glory Lithium Project is located immediately east of Albemarle's Silver Peak mine, North America's only lithium brine operation. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field. With mineralization tested by drilling over a seven-kilometer trend, the apparent size of the Dean & Glory deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America.
Cypress Development Corp. has approx. 54.5 million shares issued and outstanding.
To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website at www.cypressdevelopmentcorp.com.
CYPRESS DEVELOPMENT CORP.
"Dr. Bill Willoughby"
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Cypress Development Corp.
Director, Investor Relations
Toll Free: 800-567-8181
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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.
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