Century Lithium Corp (CYDVF)

[TradingCharts]

Cypress Development Announces 55% Increase in Lithium Mineral Resource at the Clayton Valley Lithium Project, Nevada

ANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) — Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to announce an updated Mineral Resource Estimate at the Company’s Clayton Valley Lithium Project in Nevada, USA. The work was completed by Global Resource Engineering located in Denver, Colorado.

The updated Mineral Resource Estimate for the project utilizes the same economic and mining parameters found in the Company’s May 2020 Prefeasibility Study (PFS). The August 2020 Mineral Resource Estimate includes additional assay data from four drill holes received in June 2020 and was developed using the project’s entire contiguous property boundary. All resources are pit-constrained using property and/or geologic boundaries and are based on a cut-off grade of 900 ppm lithium (Li).

Highlights of Mineral Resource Estimate

Measured Resource Estimate increased to 574.1 million tonnes averaging 1,081 ppm Li or 3.3 million tonnes lithium carbonate equivalent (LCE).

Indicated Resource Estimate increased to 355.6 million tonnes averaging 1,032 ppm Li or 2.0 million tonnes LCE.

Total Measured plus Indicated Resource Estimates of 929.6 million tonnes averaging 1,062 ppm Li or 5.2 million tonnes LCE.

https://stockdaymedia.com/cypress-development-announces-55-increase-in-lithium-mineral-resource-at-the-clayton-valley-lithium-project-nevada/