VANCOUVER, BC, March 30,
2022 /CNW/ - Cypress Development Corp. (TSXV:
CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the
Company") is pleased to announce results from its Lithium
Extraction Pilot Plant in Amargosa
Valley, Nevada ("Pilot Plant"). The interim test results
were derived from the data acquired during the 3-, 7-, and 14-day
continuous operation events, which utilized claystone from the
Company's Clayton Valley Lithium Project in Clayton Valley,
Nevada. Results yielded a
concentration of lithium into an intermediate solution product
containing 2,700 parts per million ("ppm") lithium with
insignificant impurities ("Intermediate Solution"). This is in line
with expectations and similar to the data used in the
Pre-Feasibility Study ("PFS", effective date August 5, 2020, amended March 15, 2021). This information will be
incorporated in the Company's upcoming Feasibility Study currently
under the direction of Wood PLC.
Highlights:
- Concentration of lithium into an Intermediate Solution
containing 2,700 ppm lithium with insignificant impurities
- Overall extraction rates of lithium, within the washed tails,
are between 83% and 85%
- Lithium extractions from the ion exchange in the lithium
recovery area indicate separation efficiencies for lithium and
major cations exceed 98%
- Sodium and potassium removal in the lithium recovery area has
approached 80% with less than 0.5% lithium entrainment
- Overall impurity removal, specifically, magnesium, calcium,
iron, and aluminum all exceed 99%
- Work continues at the Pilot Plant evaporation process stage to
allow the integration of the treatment of the Intermediate Solution
to produce a high-grade concentrated lithium solution ready for
off-site conversion to a final lithium product
"All primary components of the Pilot Plant are operating to
design. The lithium extraction and recovery areas are meeting our
expectations and we are very pleased with the optimization changes
completed so far, as we are now consistently producing an
Intermediate Solution containing 2,700 ppm lithium with negligible
impurities," stated Dr. Bill
Willoughby, President, and CEO of Cypress Development. "Our
team is working on our Pilot Plant's evaporation process to allow
us to take our Intermediate Solution to a high-grade concentrated
lithium solution, which is essentially our final step on-site. We
expect this process to be completed and be tested in the second
quarter."
Results thus far have identified preliminary extraction rates of
lithium within the washed tails are between 83% and 85%. Lithium
extractions from the Lionex process are 98%. Impurity removal of
magnesium, calcium, iron, and aluminum are all above 99%. Sodium
and potassium removal in the lithium recovery area is 80% with less
than 0.5% lithium entrainment. The remaining sodium and potassium
are inconsequential to the final process.
Over the coming months, the Company will continue to run tests
to further optimize its Pilot Plant and enhance its process
flowsheet.
Plant Update
The Pilot Plant is undergoing modifications on an ongoing basis
to further improve throughput and efficiencies. These modifications
include the flowsheet with the intention of simplifying the
impurity removal steps prior to lithium recovery. The Company has
received most of the remaining analyses of the 1,400 samples
collected during continuous operating runs. These results are
undergoing compilation and review with respect to flow rates and
mass balances in the various areas of the Pilot Plant and will form
the basis of further optimization studies. Within the lithium
recovery area, the results exceed expectations, with separation
efficiencies for lithium and major cations are exceeding 98% and
have confirmed the successful performance, thus far, of the
Chemionex's Lionex lithium recovery and concentration (direct
lithium extraction or DLE) process.
Further, changes were made to the tailings handling. Based on
the process, all recovered salt (NaCl), process solution, and water
is recycled back into the system. No lithium recovery effects were
noted with recycled solids and solutions. Changes to the tailing
dewatering system has allowed lower moisture content the final
tails to less than 40% moisture. Further changes are being made to
allow washing additional lithium from the final tails.
Webinar
A webinar will be held by management of Cypress Development to
discuss the results from its Lithium Extraction Pilot Plant on
Wednesday March 30, 2022, at
8 a.m. Pacific time / 11 a.m. Eastern time. Shareholders, analysts,
investors, and media are invited to join the live webcast by
registering using the link below.
Link: https://my.6ix.com/sa-Wg6ln
After registering, you will receive a confirmation email
containing details to access the webinar via conference call or
webcast.
A replay of the webcast will be available within 48 hours
on the Company's Media & Articles section of the
Company's website following the conclusion of the call.
Qualified Person
Todd Fayram, MMSA-QP is the
"Qualified Person" as defined by National Instrument 43-101 and has
reviewed and approved the scientific and technical disclosure
contained in this news release.
About Cypress Development Corp
Cypress Development Corp. is a Canadian based 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. Cypress is advancing
its Clayton Valley Lithium Project in Nevada towards the production of high-purity
lithium hydroxide suitable for battery construction.
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.
