Cypress Confirms Leach Results for Clayton Valley Lithium Project in Nevada

VANCOUVER, British Columbia, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP)(OTCBB:CYDVF)(Frankfurt:C1Z1) ("Cypress" or the "Company") is pleased to announce additional results that confirm the high solubility of lithium in claystone from its 100%-owned Clayton Valley Project in Nevada.

Clayton Valley Project Location Map: 
https://www.cypressdevelopmentcorp.com/site/assets/files/3548/cyp-clay ...

As previously reported (January 9, 2018 press release), lithium extractions of 74% were obtained for both oxidized and reduced claystone samples from drill core from hole DCH-05, leached in a solution of 5% sulfuric acid heated to 80°C. Subsequent tests reported today show lithium extractions of 67% for the oxidized claystone and 80% for the reduced claystone sample, leached under identical conditions but using a solution of 10% sulfuric acid heated to 50°C. These results are in line with previous results and continue to demonstrate the solubility of lithium found in the subsurface claystone at Clayton Valley using sulfuric acid. An opportunity to improve extractions by adjusting leach conditions is now also apparent.

The Company is also pleased to report core drilling is underway and the first of three additional holes, DCH-15, was completed to a depth of 127 meters, and encountered oxidized and reduced claystone types throughout. As previously announced, this hole was located to test the continuity between two fence lines of holes from the previous drilling. Drilling of the next two holes is expected to be completed by early March and the results included in the upcoming resource estimate.    

Drill Hole Location Map:
https://www.cypressdevelopmentcorp.com/site/assets/files/3573/cyp_dean ...

Cypress' Lithium Project

Cypress' primary focus is the Company's Dean and Glory claim blocks, located in Clayton Valley, Nevada, 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, which has been tested by drilling over a seven-kilometer trend across Cypress' 4200-acre properties.

The lithium mineralization is contained within interbedded lacustrine (lake basin) stratigraphy. These lake bed, volcanic ash rich claystone have been uplifted to their present outcropping position by movement along the Angle Island fault, a typical Walker Lane style shear zone with both lateral and vertical movement. Lithium content of the claystone was found to range up to 3800 ppm on surface. In Cypress' drilling, the values vary up to 1760 ppm Li over thicknesses of up to 112 meters. In most of Cypress' holes, a redox boundary has been encountered. This change occurs at depths of between 20 to 30 meters and is seen where claystone above the boundary is oxidized and light grey in color and claystone below is reduced and dark grey and green to black in color. Composite samples for metallurgical tests were prepared recognizing the redox boundary and designated as Oxidized Sample if above the redox boundary or Reduced Sample if below it.