Cypress Development Corp. : Cypress Receives Phase 2 Drilling Permits for Gunman Zinc-Silver Project, Nevada
31 July 2014 - 4:00PM
Cypress Development Corp. / Cypress Development Corp. : Cypress
Receives Phase 2 Drilling Permits for Gunman Zinc-Silver Project,
Nevada . Processed and transmitted by NASDAQ OMX Corporate
Solutions. The issuer is solely responsible for the content of this
announcement.
TSX-V Trading Symbol: CYPEmail:
info@cypressdevelopmentcorp.com July 31, 2014
Vancouver, BC - Cypress
Development Corp. (TSX-V: CYP) (OTC Pink:
CYDVF) (Frankfurt: C1Z) is pleased to announce the Company has been
advised by the Bureau of Land Management (BLM) Nevada that Cypress'
application of a Notice of Intent to conduct a Phase 2 drilling and
exploration program at its wholly owned 1140 acre Gunman
zinc-silver-gold project in White Pine County, Nevada has been
approved.
Southern Carlin Trend location
map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Following a highly successful 2014
Phase 1 exploration and drilling program at the Gunman project (see
news release June 12, 2014), Cypress is moving forward with a Phase
2 drill program. The very high grade zinc and silver drill
intercepts returned from Phase 1 drilling at the RH Zone, with new
exposures of the mineralization, has led to the conclusion that the
spectacular oxide mineralization is likely a high grade
polymetallic vein and breccia system and represents a very high
quality zinc-silver project located in a very favorable geologic
environment.
2014 Phase 1 delineation drilling
at the RH Zone returned long, continuous intervals of very high
grade, near surface oxidized zinc and silver mineralization.
Highlights include Hole GMRC-9 which returned a 175 foot down hole
interval of 12% zinc and 121 g/t silver and Hole GMRC-5 which
retuned a 55 foot interval of 21% zinc and 147 g/t silver.
The Phase 2 program has begun with
a detailed surface rock chip sampling program focused on
additional, reconnaissance-stage targets at the Gunman project
known as the Far South Copper, RH South Zinc, the Far North Zinc
Target located approx. 6000 feet north of the RH Zone and the TQCU
Copper Target located approx. 300 feet west of the RH Zone with
assays on 107 rock chip samples pending.
The 2014 Phase 2 drill program at
the RH Zone will consist of approximately 3000 feet of RC drilling
at specific zinc and silver oxide targets. Cypress anticipates the
drill program to start around the middle of August.
Gunman Project zone target map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg
The Gunman project is hosted by
complex veining and brecciation zones localized along generally
north-south trending faults. The total strike length containing
mineralized positions along this trend is now approximately 9000
feet.
2014 Phase 1 RH Zone Zinc
and Silver Assay Results:
Hole ID |
From (ft.) |
To (ft.) |
Interval (ft.) |
Ag (g/t) |
Zn (%) |
GMRC-3 |
55 |
95 |
40 |
60.3 |
2.00 |
and |
140 |
155 |
15 |
33.5 |
3.20 |
GMRC-4 |
20 |
175 |
155 |
128.0 |
7.20 |
including |
125 |
175 |
50 |
87.7 |
17.09 |
including |
135 |
150 |
15 |
83.9 |
30.64 |
GMRC-5 |
5 |
205 |
200 |
63.3 |
8.90 |
including |
125 |
180 |
55 |
147.0 |
21.00 |
including |
150 |
165 |
15 |
100.1 |
32.20 |
GMRC-8 |
130 |
185 |
55 |
54.3 |
6.50 |
GMRC-9 |
50 |
225 |
175 |
121.0 |
12.00 |
including |
130 |
215 |
85 |
209.2 |
19.70 |
GMRC-10 |
55 |
80 |
25 |
24.2 |
4.60 |
and |
105 |
120 |
15 |
8.0 |
1.70 |
and |
140 |
155 |
15 |
5.9 |
1.20 |
and |
170 |
220 |
50 |
20.3 |
8.70 |
GMRC-11 |
0 |
150 |
150 |
18.3 |
3.10 |
and |
165 |
215 |
50 |
125.6 |
7.90 |
* All intervals above were computed from Chemex assay results of
representative, 5 foot interval samples collected from the reverse
circulation sample return. All intervals have been selected based
on a 1% zinc lower cut-off. The intervals above are restricted to
contain no more than one included interval that falls below the 1%
zinc lower cut-off. No high grade cut has been applied. All samples
were continuously collected from each 5 foot interval during
drilling. The samples are large and average approximately 6
kilograms in weight.
* g/t = grams per metric tonne.
* The true width lengths are estimated to be approximately 65%-75%
of down hole intervals.
As the table above indicates from Phase 1 drilling, zinc and silver
mineralization occurs both as long, highly variable but completely
continuous mineralized down hole intervals (Hole GMRC-9 for
example) as well as holes with shorter intervals of strong
mineralization separated by lower grade intervals (Hole GMRC-10 for
example).
July 2014 Video of Cypress Gunman
Zinc-Silver Project, Nevada:
https://www.youtube.com/watch?v=j4nAsmQ0eEk
Robert Marvin, P.Geo., CPG,
Exploration Manager for Cypress Development Corp. is the Qualified
Person as defined by National Instrument 43-101 and has supervised
both the project field work and the preparation of the technical
information in this release.
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
Nevada, U.S.A. The Company is well funded with approximately $1.1
million in its treasury.
To find out more about Cypress
Development Corp. (TSX-V: CYP), visit our website at
www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
"Don Huston"
DONALD C. HUSTON
President
For further information contact myself
or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com
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facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although
management believes the expectations expressed in such
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such statements are not guarantees of future performance, and
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Source: Cypress Development Corp. via Globenewswire
HUG#1844290