Cypress Development Corp. / Cypress Development Corp. : Cypress
Phase 2 Exploration Program Begins on Gunman Zinc-Silver Project,
Nevada . Processed and transmitted by NASDAQ OMX Corporate
Solutions. The issuer is solely responsible for the content of this
announcement.
Suite 1610 - 777 Dunsmuir Street,
Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYPEmail:
info@cypressdevelopmentcorp.com July 14, 2014
Vancouver, BC - Cypress
Development Corp. (TSX-V: CYP) (OTC Pink:
CYDVF) (Frankfurt: C1Z) is pleased to announce the Company has
initiated its planned detailed sampling program, in advance of its
planned 2014 Phase 2 drill program, at its wholly owned 1140 acre
Gunman zinc-silver-gold project in White Pine County, Nevada.
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 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, oxidized zinc and silver mineralization. Highlights include
RC 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 2014 Phase 2 exploration
program will focus on three key target areas of the Gunman property
in which Phase 1 results have been very encouraging.
Gunman Project zone target
map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg
1.Surface sampling in the Far
North Target Area has identified an area of outcropping, silicified
limestone conglomerate that contains a well-developed zinc-arsenic
and mercury anomaly based on first pass rock chip sampling. In
addition, a single sample of leached, weathered rock collected in a
dry wash down slope and to the east of this area returned 2.235%
zinc. It is likely that this material was eroded from a source area
within the northern portion of the property.
The Phase 2 program will include a
focused prospecting effort to determine the source of the high
grade sample as well as to provide more detail in the area of the
altered, outcropping and anomalous limestone conglomerate.
The Far North Target area lies
6000 feet north of the RH Zone and Cypress views the area as highly
prospective due to the results of the Phase 1 program. Discovery of
significant bedrock zinc-silver mineralization there would
immediately change the scope of the project.
2.Outcropping copper oxide
mineralization was sampled during Phase 1 and returned copper
assays up to 10% copper along with very high arsenic values. This
target area lies 300 feet west of the RH Zone and is known as the
TQCU target area.
Gunman outcropping copper oxide
mineralization:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=/photos/gunman/pic006.jpg
The copper showing has been
explored by historical shallow workings and is one segment of a
2500 to 3000 foot long zone of outcropping copper oxide
mineralization hosted in a distinctive coarse grained sandstone
unit. This copper mineralization flanks the zinc-silver
mineralization delineated at the RH and RH South Zones.
Detailed prospecting and mapping
of the showings west of the RH Zone will be done in order to target
exploration drilling of the outcropping copper oxide
mineralization.
3.The detailed sampling program
will be followed by a 2014 Phase 2 drill program which will include
approximately 10 additional drill holes along the periphery of the
known RH Zone high grade zinc-silver mineralization. The holes will
be located in identified block areas which have had no previous
drilling.
The 2014 Phase 2 drill program at
the RH Zone is envisioned to 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.
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.
On March 18th,
Cypress announced the completion and filing of a National
Instrument (NI) 43-101 Compliant Technical Report onthe Company's
wholly owned Gunman zinc-silver-gold project located in White Pine
County, Nevada.
For additional documentation of
the data used in the Technical Report please refer to the full
report filed on SEDAR and on Cypress' web site dated March 17, 2014
and titled: GUNMAN ZINC-SILVER PROJECTNATIONAL INSTRUMENT 43-101
COMPLIANT TECHNICAL REPORT.
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 $1.5
million in its treasury.
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
"Don Huston"
DONALD C. 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
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.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Cypress Development Corp. via Globenewswire
HUG#1823270
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