Cypress Development Corp. : Cypress Drilling at Gunman Zinc-Silver Project, Nevada to Commence in April, Additional Claims Staked
Cypress Development Corp. /
Cypress Development Corp. : Cypress Drilling at Gunman Zinc-Silver Project,
Nevada to Commence in April, Additional Claims Staked
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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. Â 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
12(th), July 25(th), November 7(th), 15(th), 27(th), 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, Â 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.
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Source: Cypress Development Corp. via GlobeNewswire
[HUG#1758504]
