Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z) ("Cypress" or the "Company") is pleased to announce assay results from the Phase 2 (2014) drill program recently completed at its 100% owned Gunman zinc-silver project in Nevada. The 2300 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.
A further eleven reverse circulation (RC) delineation drill holes were completed in the Phase 2 program at the Gunman project in Nevada. The drilling program totaled 3370 feet and was directed at the main RH Zone located in the central portion of the property. Delineation drilling within the RH Zone intersected long intervals of strong dolomitic alteration containing abundant gossanous polymetallic oxide zones. Assays from five foot interval samples within the oxide zone and adjacent fractured dolomitized limestone show spectacular zinc and silver mineralization.
The purpose of the Phase 2 2014 drill program was to further delineate the known RH Zone. The majority of the holes completed in the Phase 2 program were collared on the outside parameters of the main RH Zone to potentially increase the size of the deposit. The Company is pleased it has increased the size of the RH Zone, as indicated with the latest assay results below. Cypress is also pleased that 2 holes of the Phase 2 drill program encountered intersections of copper in the latest assays. Hole GMRC-20 assays indicate an intersection of 55 feet (15'-70') assaying an average of 0.18% Cu that contains a 10 foot intersection (20'-30') averaging 0.26 Cu, and a 10 foot intersection (60'-70') averaging 0.25% Cu. Hole GMRC-21 assays indicate an 50 foot intersection (10'-60') averaging 0.18% Cu. The Company is pleased with these newest copper assays in that the results continue to enhance the Gunman project.
The assays from the 2014 Phase 2 drilling within the RH Zone are summarized in the table below.
RH Zone Phase 2 Zinc and Silver Assay Results
|Hole ID||From (ft)||To (ft)||Interval (ft)||Ag (g/t)||Zn (%)|
* NSV = no significant values.
* g/t = grams per metric tonne.
* True width lengths are estimated to be approximately 95% of downhole intervals.
RH Zone Geologic Discussion
Evidence from both drilling and surface exposures of the RH Zone continues to strongly suggest 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 and Phase 2 drill programs point 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 and zinc rich oxide gossans with local sulfide cast boxworks. The RC drilling to date of both the 2014 Phase 1 and Phase 2 programs continue to expand the size of the known zinc-silver oxide deposit of the main RH Zone on the Gunman property in Nevada. Cypress' management is very pleased with the positive assay results and drill progress seen to date in 2014.
Based upon the exceptional exploration results to date, Cypress Development is presently planning a Phase 3 RC drill program for the Gunman project expected to begin prior to year end.
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.
Detailed Notes on Chemex Assay Procedures Used: A basic aqua regia-ICP multi-element package was run on 50 gram splits from 250 gram master pulps. Intervals assaying >100 grams/tonne silver and/or 1% zinc were rerun using a complete aqua regia digestion followed by ICP-AES analysis. Intervals assaying greater than 30% zinc following complete aqua regia digestion were then re-assayed from a fresh 50 gram pulp using classical titration methods.
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.
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.