Cypress Development Corp. (CYP:TSX.V; CYDVF:OTCQB; C1Z1:FSE) announced in a news release new assays from six infill holes drilled at its Clayton Valley lithium project in Nevada. Specifically, results are from the southwest part of the initial pit.
As for highlight intervals, GCH-12 demonstrated 112 meters (112m) of lithium (Li) grading 1,127 parts per million (1,127 ppm), including 80m Li grading 1,252 ppm.
Hole GCH-08 encountered 109m of Li grading 1,127 ppm, including 85m of Li grading 1,226 ppm.
GCH-07 showed 140m of Li grading 1,032 ppm, including 88m Li grading 1,189 ppm.
"The program demonstrated consistent results from hole to hole and achieved our goal of obtaining better-than-average grade intervals within the target area," CEO Bill Willoughby said in the release.
Drilling was undertaken to define an area of higher-grade lithium, upgrade the resources and provide tonnage for the prefeasibility study mine plan and production schedule.
The resource estimate is now being updated, and the prefeasibility study is in process, the company reported.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Cypress Development. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
