Cypress Development Corp. / Cypress Development Corp. : Cypress
Samples Up to 10% Copper at Gunman Zinc-Silver Project in Nevada .
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Suite 1610 - 777 Dunsmuir Street,
Vancouver, BC, Canada, V7Y 1K4
www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYPEmail:
info@cypressdevelopmentcorp.com June 04, 2014
Vancouver, BC - Cypress
Development Corp. (TSX-V: CYP) (OTC Pink:
CYDVF) (Frankfurt: C1Z) ("Cypress" or the "Company") is pleased to
announce the results of surface rock chip sampling and
stratigraphic mapping completed as part of the 2014 Phase 1
exploration and drill program at its 100% owned Gunman zinc-silver
oxide project in Nevada. The 1140 acre Gunman zinc-silver-gold
project is located directly west of Barrick's BaldMountain gold
mine complex on the southern Carlin mineral trend in White Pine
County, Nevada.
Gunman Project Southern Carlin
Trend location map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-43-101.jpg
Three previous Reverse Circulation
(RC) drill programs totaling approximately 11,582 metres have been
completed by Cypress at the Gunman project with significant grades
between 5% to 33% zinc and 0.5 to 15.0 oz per ton silver
encountered in the RH Zone.
Cypress has now completed a
thirteen hole 2014 Phase 1 RC drill program at its Gunman poly
metallic property with all assays still pending. The thirteen
holes totaled 1,079 metres and were targeted at three areas of the
central portion of the property. Additional work completed
during Phase 1 included the initiation of a detailed stratigraphic
study in the central portion of the property and prospecting in the
far north exploration area, located 2000 metres north of the
central portion of the property.
2014 Gunman
RC Drill Hole Location Map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Gunman-May-2014-RC-Plan-Map.jpg
Surface sampling of outcrop and
rubble crop was done within the new TQCU target in an area of
outcropping copper oxide mineralization located 100 metres west of
the main RH Zinc-Silver Zone.
Gunman
Project Phase 1 Surface Sampling map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/Phase-1-Rock-Assays.jpg
A series of stratigraphic mapping
traverses were completed to better understand the geology of the
host rocks for several types of base metal and precious metal
mineralization at the property.
TQCU Copper
Oxide Showing Sample Results
The TQCU copper showing is located 100 metres west of the main RH
Zinc-Silver Zone. The showing consists of copper oxide
veining and fracture coatings exposed in outcrops and in historic
prospect pits. The copper oxide mineralization is hosted by a
distractive, coarse grained sandstone unit which lies
stratigraphically above the main RH, RH South and RH North dolomite
and sandy limestone.
Four grab samples were collected
of the copper oxide mineralization. The assay results of the
sampling are displayed in the table below.
Table
1: TQCU Copper Oxide Showing Sample Results
|
Ag |
As |
Cu |
Hg |
Sb |
W |
Zn |
Cu |
Sample |
ppm |
ppm |
ppm |
ppm |
ppm |
ppm |
ppm |
% |
TQCU-1 |
40.1 |
>10000 |
>10000 |
4.2 |
67 |
50 |
219 |
3.85 |
TQCU-2 |
16.5 |
2520 |
>10000 |
0.5 |
7 |
<10 |
1460 |
2.51 |
TQCU-3 |
3.7 |
7650 |
>10000 |
2.4 |
32 |
<10 |
6340 |
3.68 |
TQCU-4 |
4.0 |
>10000 |
>10000 |
2.1 |
92 |
<10 |
8470 |
10.10 |
The copper oxide mineralization
occurs as dense veinlets swarms, cm-scale irregular seams, dense
disseminations and as fracture coatings all hosted by a strongly
oxidized, decalcified and silicified sandstone unit.
Far North
Target Area Sample Results
Rock chip samples were collected in the Far North Target Area,
located approximately 2000 metres north of the main RH Zinc-Silver
Zone. Two important results from the ICP assays of these samples
are:
-
A sample of bleached, weathered float collected
in a dry stream bed 650 metres east of the Gunman property boundary
assayed 22350 ppm zinc or 2.235% zinc. The stream bed drains
from an area of hills within the Far North Target area on the
Gunman property.
-
A cluster of outcrop samples of silicified and
strongly oxidized limestone conglomerate contain highly anomalous
zinc, arsenic and mercury. Scattered bismuth anomalies also occur
in samples from the anomaly area. This anomaly cluster lies in the
Far North Target area and is hosted by the limestone conglomerate
unit which caps the strongly mineralized sandy dolomite and
limestone in the RH area.
Gunman
Mineralization
Mineralization at the Gunman project appears to be controlled by a
series of well developed NNE trending fracture zones. This setting
is seen in other locations along the Carlin and the Battle Mountain
gold trends where the NS to NNE alignments of mineralized zones are
located in cross cutting structural zones within or adjacent to the
main NNW striking trends. The mineralization of the zinc-silver
zones on the Gunman is located close to surface. The very high
grade of zinc-silver mineralization seen in the RH Zone is a
compelling reason to continue exploration on the Gunman
project.
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 has
approximately $1.1 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
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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
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