PEA For Clayton Valley Nevada Project

 

VANCOUVER - Cypress Development Corp. reported that a National Instrument 43-101 Technical Report titled “Preliminary Economic Assessment Technical Report for Clayton Valley Lithium Project, Esmeralda County, Nevada” has been filed. The Report was prepared by Global Resource Engineering (GRE) of Denver, Colorado, an independent engineering services firm. Dr. Bill Willoughby, Cypress CEO said, “Finalizing the PEA for Clayton Valley is a significant milestone. The project has advanced from the first drill hole to a positive PEA in under two years. Our next steps have the potential to unlock shareholder value as we continue with infill drilling, further metallurgical studies, and a pre-feasibility study to provide more detailed information related to the project’s economic assumptions.”

GRE recommends the Pre-feasibility Study (PFS) as the next step for the project. The PFS will include infill drilling to upgrade resource categories and optimize the production schedule within the mine area. Metallurgical testing will include determining optimum leach conditions and configuration of the process plant as well as further testing at the bench-scale to demonstrate production of high purity lithium carbonate suitable for battery usage.

Within the recommendations is testing to investigate rare earth elements, most notably scandium, neodymium and dysprosium, that were identified in solution during the PEA and could be potentially recoverable by-products. Additionally, study of alternative processing methods, such as membranes and ion exchange resins, and trade‐off studies related to capital and saleable electrical generation for the acid plant are recommended.

Initiation of baseline data collection, hydrology and geotechnical studies will also be conducted. The PFS carries a total estimated budget of $800,000. Cypress intends to follow the recommendations, beginning with infill drilling to start in the next 1-2 months, and metallurgical test work which has already begun. Cypress anticipates the PFS to be completed in Q1 2019.