Results from Drilling At Clayton Valley Lithium Project 

VANCOUVER - Cypress Development Corp. reported assay results from its recently completed infill drilling program at the Company’s Clayton Valley Lithium Project in Nevada. The program which commenced in March is a critical step in the Pre-feasibility Study (PFS) currently underway.

The target area for this phase of drilling was the southwest portion of the initial pit area as described in the 2018 Preliminary Economic Assessment NI 43-101 Technical Report (PEA). The PEA included updated mineral resources with an Indicated Resource of 831 million tonnes at 867 ppm Li (3.835 million tonnes LCE) and an Inferred Resource of 1.12 billion tonnes at 860 ppm Li (5.126 million tonnes LCE), based upon a cut-off grade of 300 ppm Li. 

All drill cores from the program were geologically logged and delivered to ALS USA Inc. in Reno for sample processing and assay. Cores from five of the six holes were processed through sample preparation in their entirety, with coarse reject material retained for use in metallurgical tests. Intervals from three of the holes were selected and were submitted for geotechnical testing. All samples were accompanied by QA/QC samples of blanks, standards and duplicates.

The goal of the drilling program for the PFS was to define an area of relative higher-grade lithium, upgrade the categories of resources and provide the tonnage for the PFS mine plan and production schedule. The program also provided fresh material for geotechnical and ongoing metallurgical testing.

Cypress CEO Bill Willoughby said, “We are pleased with the results and regard the infill drilling program as a success. The program demonstrated consistent results from hole to hole and achieved our goal of obtaining better-than-average grade intervals within the target area. The results have been shared with Global Resource Engineering who are in the process of updating the resource model from the October 2018 PEA and producing an optimized mine schedule.”

The company’s address is Suite 1610, 777 Dunsmuir Street, Vancouver, BC V7Y 1K4, (604) 687-3376, www.cypressdevelopmentcorp.com.