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Cypress Development Corp. (CYDVF)

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Cypress Development Property Tour
Cypress Development (CYP) - Advanced, Large & Complicated Lithium Clay
Jul 26, 2020

Cypress Reports 92 meters of 1136 ppm Li from Clayton Valley Lithium Project in Nevada

July 2, 2020


Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ("Cypress" or "the Company") is pleased to report newly received assays of drill cores which the Company recently acquired. The cores are from four holes drilled as shown in the figure below and located in an area south of the proposed mine area in the Company’s May 2020 Prefeasibility Study (NI 43-101 Clayton Valley Prefeasibility Study Technical Report). The assay results are summarized in the accompanying table.

CM Series Drill Hole Location Map, Clayton Valley Project, Nevada:

HQ-size drill cores from the four holes were received intact, properly boxed and in good condition. All cores were logged, split and sampled by Cypress at ALS in Reno Nevada, and analyzed by ALS in Vancouver, B.C. Company QA/QC procedures were followed.

The assay results are significant with three of the holes having continuous intervals averaging greater than 1,100 ppm Li. The longest is a 92-meter interval of 1,136 ppm Li in CM001, located 750 meters southeast of the PFS pit limits. The lithium grades reported here are similar to those of the Probable Reserves in the PFS, estimated at 222.8 million tonnes of 1,141 ppm Li (1.353 Mt LCE). The results demonstrate the potential for additional resources within an area of 1,106 acres that were not included in the PFS resource model.

Qualified Person:

Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded exploration company focused on developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier target with the potential to impact the future supply of lithium for the fast-growing global lithium-ion battery market.

Cypress Development Corp. has approx. 90.3 million shares issued and outstanding.

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.


"Dr. Bill Willoughby"

Chief Executive Officer

For further information contact myself or:
Don Myers
Cypress Development Corp.
Director, Corporate Communications
Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com

Outstanding Shares: 91,106,201
Fully Diluted Shares: 115,445,809
Fiscal Year End: December 31st

Highlights of Prefeasibility Study:

  • Average production rate of 15,000 tonnes per day to produce 27,400 tonnes lithium carbonate equivalent (LCE) annually over a +40-year mine life.
  • Lithium Carbonate price of $9,500 per tonne.
  • Capital cost estimate of US$493 million, pre-production and operating cost estimate averaging US$3,329 per tonne LCE.
  • After-tax net present value (NPV-8%) of US$1.052 billion at 8% discount rate and 25.8% internal rate of return (IRR).
  • Production based on Probable Mineral Reserve of 222 million tonnes averaging 1,141 ppm Li (1.353 Mt LCE) based on a cut-off grade of 900 ppm Li.
  • Reserves and production plan derived from Measured and Indicated Mineral Resources of 593 million tonnes averaging 1,073 ppm Li (3.387 Mt LCE).

Cypress CEO Dr. Bill Willoughby stated "This PFS is a major milestone for Cypress. These positive results take us closer to our goal of developing a world-class lithium deposit.  Cypress' land position and resources afford us the opportunity for a long-life project with low operating costs and potential to be a significant source of lithium for the United States."

The key features of the claystone deposit include its large size, surface exposure and flat-lying nature. These features allow mining with negligible strip ratio (0.15:1) due to minimal overburden and no interbedded waste, and no drilling or blasting in excavation. Metallurgical testing indicates low cost processing can be achieved by leaching with low acid consumption and high lithium recovery. Self-generated power from a 2,500 tpd acid plant is included in the project's costs.

The project's large resource allows the mineral resources and reserves to be derived from a portion of the property. All resources and reserves are pit-constrained by property and geologic boundaries, and are based on a cut-off grade of 900 ppm Li.

Clayton Valley Lithium Project, Nevada Prefeasibility Pit Outline map
Clayton Valley Lithium Project Prefeasibility Pit Outline map

Results for the PFS are:

  • Average annual production of 27,400 tonnes per year LCE
    Mine life for PFS of +40 years
    Lithium Carbonate price of $9,500 per tonne
    Industry-low cash cost of US$3,329 per tonne LCE
    US$1.052 billion NPV at 8% discount rate, after-tax basis
    After-tax internal rate of return (IRR) of 25.8%
    Capex payback period of 4.4 years

Sensitivity to LCE Price

The economic evaluation is reported in terms of LCE using an average price of US$9,500 per tonne. The price assumption reflects variations expected over time due to start-up and pricing for lithium products.

Where Will the USA Get Its Lithium? / Don Mosher/Capital Market Consultant/Cypress Development Co
Jun 22, 2020
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#167  Sticky Note News- Memo on takeover bid Cypress Development Adopts Shareholder Lidoshuffle 09/03/20 09:40:55 AM
#179   I too, have that same feeling I only ImTC 09/17/20 11:16:41 PM
#178   Making a little move back up Lidoshuffle 09/17/20 12:23:08 PM
#177   Turning back up Think we have closed all gaps Lidoshuffle 09/15/20 03:33:38 PM
#176   I’m all for taking some profit off the Lidoshuffle 09/14/20 04:12:52 PM
#175   Oh yeah ?......Funny : Pple become biased once nowwhat2 09/14/20 03:27:08 PM
#174   Gap is filled- time to move back up! Lidoshuffle 09/14/20 02:43:49 PM
#173   That's b/c it's somewhat falling off a cliff..... nowwhat2 09/14/20 12:29:08 PM
#172   Volume up on the Canadian, market 257,000 shares ImTC 09/10/20 05:58:01 PM
#171   RSI now below 50 Last time it did this Lidoshuffle 09/10/20 10:16:29 AM
#170   Yes I believe the gap has mostly filled Lidoshuffle 09/09/20 09:41:12 PM
#169   07/20/20 on the Canadian chart CYP.V the high ImTC 09/09/20 08:17:46 PM
#168   Gap area between .305-.325 may fill today Hopefully it Lidoshuffle 09/09/20 09:27:45 AM
#167   News- Memo on takeover bid Cypress Development Adopts Shareholder Lidoshuffle 09/03/20 09:40:55 AM
#166   Moving up nice in pre market- which doesn’t Lidoshuffle 09/03/20 08:53:29 AM
#165   Cypress trading has been good lately-consolidation in the Lidoshuffle 09/03/20 08:46:57 AM
#164   Some near-term events expected in the peer group ImTC 08/23/20 07:58:57 PM
#163   Lithium Clays as a Source of Lithium and ImTC 08/23/20 07:32:04 PM
#162   Nice trend going! mannken 08/22/20 11:12:51 PM
#161   Great week for Cypress!!! HUGE BUY VOLUME ON AMERICAN Lidoshuffle 08/21/20 03:07:33 PM
#160   Cypress Development Property Tour ImTC 08/20/20 05:46:04 PM
#159   American Lithium Corp. (TSXV: LI) (OTCQB: ImTC 08/19/20 11:02:23 AM
#158   Quick Read of full PFS on sedar shows ImTC 08/19/20 10:42:40 AM
#157   Thanks it took me awhile to find. ImTC 08/17/20 11:08:07 PM
#156   Yes well I've long been quite keen on nowwhat2 08/17/20 11:20:52 AM
#155   Thanks will check this out Lidoshuffle 08/17/20 10:34:44 AM
#154   There is a lot more volume on the ImTC 08/17/20 10:09:36 AM
#153   Lidoshuffle Watch the last interview I thought ImTC 08/17/20 09:48:54 AM
#152   Now you know why I sold the other ImTC 08/17/20 09:43:14 AM
#151   Yes we did!!!!! This is going to be epic Lidoshuffle 08/17/20 09:41:53 AM
#150   watching mannken 08/17/20 09:40:08 AM
#149   Did we just open at .42?? ImTC 08/17/20 09:35:55 AM
#148   Cypress Development (CYP) - Advanced, Large & Complicated ImTC 08/16/20 06:48:46 PM
#147   Cypress Development Property Tour Aug 12, 2020 ImTC 08/16/20 06:41:42 PM
#146   Another interesting U.S. based lithium miner committed to futrcash 08/14/20 01:22:46 PM
#145   Cypress Development Announces 55% Increase in Lithium Mineral ImTC 08/11/20 04:13:50 PM
#144   Can it break out of the 30 resistance mannken 08/06/20 10:23:17 PM
#143   CYPRESS IS SITTING ON WORLD CLASS LITHIUM MINE Lidoshuffle 08/05/20 08:59:46 AM
#142   IH Admin [Tisha] Replied with instructions. I followed ImTC 08/04/20 06:29:02 PM
#141   Nice - Interesting - Thanks - Keep me nowwhat2 08/04/20 06:14:14 PM
#140   We have been doing well, with these Lithium ImTC 08/04/20 04:54:47 PM
#139   Funny.....Why that's the same thing I was wonderin' nowwhat2 08/04/20 04:46:50 PM
#138   The TMX Matrix has about 800,000 more outstanding ImTC 08/04/20 04:29:43 PM
#137   So, am I invisible? ImTC 08/04/20 04:24:31 PM
#136   I meant the website, specifically for the AS Mark_MNMK 08/04/20 11:08:48 AM
#135   Great - Thanks - BTW - What dy'mean nowwhat2 08/04/20 11:06:29 AM
#134   Will do. I just emailed them again to Mark_MNMK 08/04/20 10:38:12 AM
#133   Have had me eyes on this co. quite nowwhat2 08/04/20 10:32:27 AM
#132   Cypress sitting on a “world class” source of Mark_MNMK 07/21/20 11:14:32 PM
#131   Big move today!!!! In hyperdrive Up 4.95 cents 19% Is Lidoshuffle 07/20/20 08:33:08 PM
#130   Where Will the USA Get Its Lithium? / ImTC 07/20/20 04:13:34 PM
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