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Cypress Development Corp. : Cypress Drilling at Gunman Zinc-Silver Project, Nevada to Commence in April, Additional Claims Staked


February 3, 2014 - London

Cypress Development Corp. /Cypress Development Corp. : Cypress Drilling at Gunman Zinc-Silver Project, Nevada to Commence in April, Additional Claims Staked . Processed and transmitted by NASDAQ OMX Corporate Solutions.The issuer is solely responsible for the content of this announcement.

Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4

                     www.cypressdevelopmentcorp.com

TSX-V Trading Symbol: CYP

Email: info@cypressdevelopmentcorp.com

 

February 3, 2014

 

Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z) is pleased to announce it has commissioned an independent NI 43-101 Technical Report and has staked an additional 27 claims on strike to the immediate north and south of the Company's wholly owned Gunman zinc-silver project located on a well-developed N-S structural zone linking between the Carlin and Battle Mountain mineral trends.The property sits directly west of Barrick's Bald Mountain gold mine complex in White Pine County, Nevada.

Gunman zinc-silver project location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/nevada.gif

With the majority of past drilling on the Gunman project predating National Instrument (NI) 43-101 (Standards of Disclosure for Mineral Projects), Cypress has commissioned Riverbend Geological Services ofBeausejour, Manitoba to complete an independent NI 43-101 Technical Report. The Technical Report and recommendations will be used by Cypress in the planning of a RC drill program in order to complete an independent NI 43-101 Compliant Resource Estimate on the Gunman RH Zone. The Company anticipates that this drill program will commence in early April.

A strike length of approximately 2 miles (south to north) has been staked to allow Cypress to effectively explore for additional high grade zinc-silver oxide and sulphide mineralization along the contact of Permian age carbonate-clastic units and recent gravels created by a range front normal fault.  The mineralized carbonate unit at the Gunman project is localized within the east limb of a fault bounded syncline. The shallow mineralization consists of very high grade zinc-silver oxides and local sulphides along with arsenic, gold and mercury mineralization within karsted and strongly oxidized, Permian age silty limestone host rocks.The dominant surface expression of the known zone is a series of jasperiod outcrops and subcrops.These jasperiods are anomalous in zinc-silver-arsenic-gold-antimony and mercury.

Gunman Zinc-Silver Project Claims Map:http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman2014Claims.jpg

Previously reported assays from Cypress drilling in 2000 (see news releases June 12th, July 25th, November 7th, 15th, 27th, 2000) include zinc values in the 5% to plus 30% range with silver values of 10ppm to plus 200ppm (up to 8 ounce/ton silver). Gold values over .033 ounce/ton occur locally within mineralized zones. Only a small percentage of the known and interpreted extent of the shallow sandy limestone zinc-silver host has been explored by RC and diamond drilling.

Significant zinc and silver assays previously reported by Cypress from the Gunman project include:

Hole ID

From

To

Intersection

Zn

Ag

GM-26

0ft

250ft

250ft

11.04%

2.6 oz/ton

Incl.

130ft

205ft

75ft

26.88%

7.7 oz/ton

Incl.

175ft

180ft

5ft

33.45%

15.1 oz/ton

Incl.

190ft

200ft

10ft

29.34%

12.9 oz/ton

GM-32

50ft

170ft

120ft

9.10%

1.5 oz/ton

Incl.

75ft

130ft

55ft

16.51%

2.3 oz/ton

Incl.

100ft

125ft

25ft

22.63%

1.9 oz/ton

GM-09

120ft

345ft

225ft

4.01%

0.9 oz/ton

Incl.

175ft

190ft

15ft

14.67%

2.4 oz/ton

Incl.

245ft

260ft

15ft

11.98%

1.9 oz/ton

Other significant zinc and silver assays previously reported by Cypress from the Gunman project include:

Hole ID From To Intersection Zn Ag
GM-01
115ft 215ft 100ft 4.91% 1.0 oz/ton
Incl. 165ft 185ft 20ft 19.62% 3.5 oz/ton
and
355ft 385ft 30ft 10.03% 3.9 oz/ton
Incl. 355ft 365ft 10ft 23.37% 9.2 oz/ton
GM-07
70ft 205ft 135ft 6.98% 1.3 oz/ton
Incl. 115ft 150ft 35ft 14.73% 2.5 oz/ton
Incl. 185ft 195ft 10ft 21.68% 3.1 oz/ton
GM-08
130ft 250ft 120ft 2.69% 1.5 oz/ton
Incl. 185ft 205ft 20ft 12.61% 3.8 oz/ton
GM-24
60ft 110ft 50ft 6.32% 1.2 oz/ton
Incl. 65ft 80ft 15ft 16.76% 1.9 oz/ton
GM-25
150ft 155ft 5ft 6.17% 0.4 oz/ton
GM-27 0ft 250ft 250ft 2.81% 0.5 oz/ton
Incl. 185ft 200ft 15ft 14.36% 2.3 oz/ton
Incl. 195ft 200ft 5ft 28.53% 2.7 oz/ton
GM-28
0ft 210ft 210ft 8.12% 1.3 oz/ton
Incl. 85ft 175ft 90ft 14.18% 2.5 oz/ton
Incl. 135ft 170ft 35ft 20.93% 3.1 oz/ton
GM-29
0ft 270ft 270ft 2.45% 0.6 oz/ton
Incl. 40ft 65ft 25ft 10.30% 1.6 oz/ton
Incl. 140ft 160ft 20ft 9.07% 1.6 oz/ton
GM-30
30ft 65ft 35ft 5.01% 0.7 oz/ton
Incl. 35ft 50ft 15ft 11.17% 1.3 oz/ton
GM-31
40ft 85ft 45ft 3.50% 0.6 oz/ton
Incl. 45ft 55ft 10ft 13.60% 1.7 oz/ton

*oz = troy ounce

Don Huston, President of Cypress previously commented: "The Gunman project is a high-quality asset in Cypress' portfolio with significant upside exploration potential. Three RC drill programs totaling approx. 38,000 feet have been completed by the Company on the project with significant grades between 5% to 33% zinc and 0.5 to 15.0 oz per ton silver over considerable widths encountered. There is a bullish outlook for the zinc market due to ongoing demand growth and an impending supply shortage coincident with the closures of numerous major mines globally. More than 2 million tons of required new zinc supply is forecasted by 2016 yet there are very few new zinc mines in the development pipeline. We believe there will be strong upward pressure on the price of the commodity and the high grade, shallow Gunman zinc-silver project offers Cypress and its shareholders leveraged exposure to this potential price increase."

A recompilation of all previous historic data on the Gunman project is currently underway.

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 $1.5 million in its treasury.

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.

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

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 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.

 

 

 

 




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cypress Development Corp. via Globenewswire

HUG#1758504

GlobeNewswire

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