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IRW-Press: Cypress Receives Phase 2 Drilling Permits For Gunman Zinc-Silver Project, Nevada



Published on 31 July 2014



by Press Office

(IRW-PRESS and WireNews)

Vienna, Austria


Cypress Development Corp. (TSX-V: CYP) (OTC Pink: CYDVF) (Frankfurt: C1Z) is pleased to announce the Company has been advised by the Bureau of Land Management (BLM) Nevada that Cypress’ application of a Notice of Intent to conduct a Phase 2 drilling and exploration program at its wholly owned 1140 acre Gunman zinc-silver-gold project in White Pine County, Nevada has been approved.

Southern Carlin Trend location map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg

Following a highly successful 2014 Phase 1 exploration and drilling program at the Gunman project (see news release June 12, 2014), Cypress is moving forward with a Phase 2 drill 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 the 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.

2014 Phase 1 delineation drilling at the RH Zone returned long, continuous intervals of very high grade, near surface oxidized zinc and silver mineralization. Highlights include 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 has begun with a detailed surface rock chip sampling program focused on additional, reconnaissance-stage targets at the Gunman project known as the Far South Copper, RH South Zinc, the Far North Zinc Target located approx. 6000 feet north of the RH Zone and the TQCU Copper Target located approx. 300 feet west of the RH Zone with assays on 107 rock chip samples pending.

The 2014 Phase 2 drill program at the RH Zone will consist of approximately 3000 feet of RC drilling at specific zinc and silver oxide targets. Cypress anticipates the drill program to start around the middle of August.

Gunman Project zone target map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg

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.

July 2014 Video of Cypress Gunman Zinc-Silver Project, Nevada: https://www.youtube.com/watch?v=j4nAsmQ0eEk

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 is well funded with approximately $1.1 million in its treasury.

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at http://www.cypressdevelopmentcorp.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Don 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

Cypress Development Corp.

Suite 1610 - 777 Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4

TSX-V Trading Symbol: CYP

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.


Contacts

  •  
  • Joachim Brunner
  • IRW-Press
  • PR Contact
  • Tel: +43724221193011
  •  
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Posted 2014-07-31 09:26:00