Cypress Development Corp. / Cypress Development Corp. : Cypress
Development Announces Phase 2 Drill Program at its Gunman Zinc and
Silver Project in Nevada . 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: CYPEmail:
info@cypressdevelopmentcorp.com
Vancouver, BC - Cypress
Development Corp. (TSX-V: CYP) (OTC Pink:
CYDVF) (Frankfurt: C1Z) ("Cypress" or the "Company") is pleased to
announce its plans for a 2014 Phase 2 exploration and drill program
at its 100% owned Gunman zinc-silver oxide project in Nevada. The
1140 acre Gunman zinc-silver project is located directly west of
Barrick's Bald Mountain gold mine complex on the southern Carlin
mineral trend in White Pine County, Nevada.
Gunman Project Southern Carlin
Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Following the a highly successful
2014 Phase 1 exploration and drill program at the Gunman project,
Cypress is moving forward with a Phase 2 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 a 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.
The 2014 Phase 2 exploration
program will focus on three key target areas of the Gunman property
in which Phase 1 results have been very encouraging. These
three targets are:
Gunman Project zone target
map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg
-
Delineation drilling at the RH Zone returned
long, continuous intervals of very high grade, oxidized zinc and
silver mineralization. Highlights include RC 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 will include approximately 10 additional holes
along the periphery of the known RH Zone high grade
mineralization. The holes will be located in identified block
areas which have had no previous drilling.
-
Surface sampling in the Far North Target Area
has identified an area of outcropping, silicified limestone
conglomerate that contains a well-developed zinc-arsenic and
mercury anomaly based on first pass rock chip sampling. In
addition, a single sample of leached, weathered rock collected in a
dry wash down slope and to the east of this area returned 2.235%
zinc. It is likely that this material was eroded from a
source area within the northern portion of the property.
The
Phase 2 program will include a focused prospecting effort to
determine the source of the high grade float sample as well as to
provide more detail in the area of the altered, outcropping and
anomalous limestone conglomerate.
Five
holes are being permitted in the Far North area within the altered
outcrop target and in adjacent areas along the interpreted
structural zone which connects the Main RH Zone area to the Far
North Target area. The Far North Target area lies 6000 feet
north of the RH Zone and Cypress views the area as highly
prospective due to the results of the Phase 1 program. Discovery of
significant bedrock zinc-silver mineralization there would
immediately change the scope of the project.
-
Outcropping copper oxide mineralization was
sampled during Phase 1 and returned copper assays up to 10% copper
along with very high arsenic values. This target area lies
300 feet west of the RH Zone and is known as the TQCU target
area.
Gunman
Outcropping Copper Oxide Mineralization:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=/photos/gunman/pic006.jpg
The copper showing has been
explored by historical shallow workings and is one segment of a
2500 to 3000 foot long zone of outcropping copper oxide
mineralization hosted in a distinctive coarse grained sandstone
unit. This copper mineralization flanks the zinc-silver
mineralization delineated at the RH and RH South Zones.
Detailed prospecting and mapping
of the showings west of the RH Zone will be done in order to target
exploration drilling of the outcropping copper oxide
mineralization. Two to three holes are planned.
The 2014 Phase 2 program is
envisioned to consist of approximately 5000 feet of RC drilling at
specific zinc, silver and copper oxide targets covering a 6000 foot
strike length as described above. Focused prospecting and
mapping will be done in early July. BLM permitting is
underway. Cypress anticipates the drill program to start
around August 1st.
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.
Cypress continues to believe the
project represents one of the best exploration targets along the
southern extension of the Carlin Trend. There are multiple examples
along both the Carlin and Battle Mountain Trends of well
mineralized and highly economic zones and mines located in
structural environments essentially identical to that at the Gunman
project. Specifically, many mines are localized in
north-south trending faults zones on both the north and south
flanks of these world class mineral belts in north central
Nevada.
The 2014 Phase 2 exploration and
delineation drill and prospecting program represents another step
by Cypress Development along the way to identifying the full extent
of the mineralized structural zone at its 100% owned Gunman
project.
RH Zone 2014 Phase 1
Results
The assays from the 2014 Phase 1 drilling within the RH Zone are
summarized in the table below.
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, 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).
RH Zone
Geologic Discussion
Evidence from both drilling and surface exposures of the RH Zone
strongly suggests that the mineralization is structurally
controlled and is focused within an envelope of hydrothermally
altered, fractured and brecciated dolomite. Outcrop and drill
data also indicate that the dolomite is of hydrothermal
origin.
Data gathered during the 2014
Phase 1 drill program points strongly to base metal, precious metal
veining within a focused zone of dolomite alteration, fracturing
and brecciation forming within an active zone of faulting.
Subsequent oxidation of the original poly metallic veining
mineralization has produced significant down hole intervals of
spectacular, silver rich, zinc and iron oxide gossans with local
sulfide cast boxworks.
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 has
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
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#1801473
Grafico Azioni Lehman Abs GM (NYSE:CYP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Lehman Abs GM (NYSE:CYP)
Storico
Da Giu 2023 a Giu 2024