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.
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 of Beausejour, 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.
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:
Other significant zinc and silver assays previously reported by Cypress from the Gunman project include:
*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
DONALD C. HUSTON
For further information contact myself or:
Cypress Development Corp.
Toll Free: 800-567-8181
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.