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Cypress Development Corp. Announces Results from Drilling at Clayton Valley Lithium Project in Nevada
VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or the “Compa
About this update from Century Lithium Corp
[{"type":"text","content":" VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to report assay results from its recently completed infill drilling program at the Company’s Clayton Valley Lithium Project in Nevada. The program which commenced in March is a critical step in the Prefeasibility Study (PFS) currently underway with Ausenco Engineering Canada Inc., Global Resource Engineering and others. The target area for this phase of drilling was the southwest portion of the initial pit area as described in the October 1, 2018 Preliminary Economic Assessment NI 43-101 Technical Report (PEA). The PEA included updated mineral resources with an Indicated Resource of 831 million tonnes at 867 ppm Li (3.835 million tonnes LCE) and an Inferred Resource of 1.12 billion tonnes at 860 ppm Li (5.126 million tonnes LCE), based upon a cut-off grade of 300 ppm Li. Complete assay results are as provided in the following table. Hole Top (m) Bottom (m) Interval (m) Grade Li (ppm) GCH -07 3 142 * 140 1,032 Incl 3 91 88 1,189 GCH-08 3 112 * 109 1,127 Incl 3 87 85 1,226 GCH-09 2 118 * 116 924 Incl 2 75 74 1,115 GCH-10 3 94 * 91 948 Incl 3 54 51 1,130 GCH-11 5 124 * 119 1,004 Incl 5 87 82 1,115 GCH-12 2 114 * 112 1,127 Incl 2 81 80 1,252 * End of hole. All holes except GCH-9 and GCH-10 end in >600 ppm Li. All drill cores from the program were geologically logged and delivered to ALS USA Inc. in Reno for sample processing and assay. Cores from five of the six holes were processed through sample preparation in their entirety, with coarse reject material retained for use in metallurgical tests. Intervals from three of the holes were selected and were submitted for geotechnical testing. All samples were accompanied by QA/QC samples of blanks, standards and duplicates. The goal of the drilling program for the PFS was to define an area of relative higher-grade lithium, upgrade the categories of resources and provide the tonnage for the PFS mine plan and production schedule. The program also pr...