| TSX Venture Exchange: CYP
Cypress Development Corp. (TSX-V: CYP) is a publicly traded exploration company focused on developing the Company’s 100%-owned Clayton Valley Lithium Project in the State of Nevada, U.S.A. Cypress' flagship project is located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation, which has been in continuous operation since 1966. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island, an outcrop of Paleozoic carbonates protruding up through the lakebed sediments.
Drilling in 2017 encountered values averaging 921 ppm Li over an average thickness of 77 meters in 14 holes drilled. Mineralization occurs within montmorillonite clays throughout the sediments to a depth of at least 112 meters. Drilling is ongoing and a resource estimate is expected in Q1-2018. Metallurgical tests so far have shown the claystone is weak acid leachable with lithium extractions ranging up to 80% in agitated leach tests using sulfuric acid. These high extractions indicate the dominant lithium-bearing minerals present are not hectorite, a refractory clay mineral which requires roasting to liberate the lithium.
Cypress believes these features, along with favorable geographical setting and apparent size of the deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America. With mineralization tested by drilling over a seven kilometer trend, Cypress’ Clayton Valley deposit could develop into a significant long-term source of supply in a politically stable and favorable mining jurisdiction.