Cypress Development Corp. : Cypress Samples 2100 g/t Ag and 3.4 g/t Au and Completes Mag Survey on Twenty-One Silver-Gold Project, Nevada
VANCOUVER, BC -- (Marketwire) -- 02/16/12 --
Cypress Development Corp. /
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Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
www.cypressdevelopmentcorp.com
TSX-V Trading Symbo: CYP
Email: info@cypressdevelopmentcorp.com
Cypress Development Corp. (TSX VENTURE: CYP) announces the completion
of a surface magnetometer survey and the assay results of surface samples
collected on its Twenty-One silver-gold property located in Mineral County,
west
central Nevada.
Twenty One Silver-Gold project location map:
http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-
Location-
Map.jpg
The property is centered on a parallel series of mineralized quartz veins
and
veinlets which cut a silicified and brecciated cap rock. The assay results
show that quartz veins contain very high grade precious metal and base
metal
mineralization. The veins present one of four distinct precious and base
metal
target types being investigated at the property.
Highlights:
· Notable Surface sampling of quartz vein material from historic
workings
returned silver assay values from 203 to 2100 g/t silver (67.7 oz/t)
· The high silver values are accompanied by gold values from 0.62 g/t
silver to 3.4 g/t gold
· Base metal values in the vein samples include values +50,000 ppm
lead and
1.35% zinc
· Discovery of a new area of mineralized outcrop has been made;
outcropping, iron and manganese oxide stained limestone located over 750
metres
NNW of the vein area returned 17 g/t silver along with strong lead, zinc
and
manganese values
· 34.5 line kilometres of ground magnetic data was collected and is
being
processed
· Drill program to commence in April
Targets identified by the completed surface sampling and outcrop mapping
include
high grade veins and the potential for carbonate replacement and/or skarn
style
mineralization in Triassic age limestone units known to occur beneath the
breccia cap. A fourth target type at the Twenty-One Project is the
potential for
intrusive hosted mineralization at depth beneath the veins. Bismuth,
copper,
molybdenum and tungsten anomalies in the assay results strongly suggest a
potentially mineralized intrusion underlies the property.
The property covers the contiguous ENE extension of silver and gold
mineralization mined at the Mindora deposit. The Mindora deposit is
reported to
have over 1 million ounces of silver and gold based on shallow drilling
done in
the 1980's. The Mindora deposit is based on drilling done in the 1980's no
drilling has ever occurred on the Twenty-One property.
Twenty One Silver-Gold Project mine trend map:
http://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-
Production-Trend.jpg
Notable gold and silver assay results for the surface samples collected at
the
Twenty-One property in January are presented below. Very high grade silver
assays (up to 2100 g/t Ag), with accompanying gram to multi-gram level gold
values (up to 3.4 g/t Au), are from surface samples of exposed quartz veins
and
from dump material in an area containing a series of historic pits and
trenches
in the south central portion of the property. All samples were assayed by
ALS
Chemex in Sparks, Nevada.
Significant Gold and Silver Surface Sample Results from Twenty-One Silver-
Gold
Project:
SAMPLE ID Au (g/t) Ag (g/t)
MAGR-17 0.02 17
MAGR-32 1.08 239
MAGR-33 0.62 203
MAGR-34 1.68 515
MAGR-35 1.65 1030
MAGR-37 3.40 2100
MAGR-38 1.60 662
These vein exposures and historic dumps are the location of the highest
grade
mineralization known at surface on the Twenty-One property. It is important
to
note however that other outcrop and sub-crop areas of mineralization at
surface
occur. Sample MAGR-17 was collected from outcropping, iron and manganese
oxide
stained limestone located over 750 metres NNW of the original vein area.
This
sample contains 17 g/t silver and has the high lead and zinc signature that
occurs in the vein area. In addition the sample contains very high grade
manganese which is a well-known surface indicator of underlying carbonate
replacement ore system. This represents a new discovery of surface
mineralization that is not located along the same structural zones as the
veins.
Several metre-scale blocks of mineralized jasperiod previously reported
occur in
the same area as sample MAGR-17. This evidence of mineralization well away
from
the initial high grade vein zone discovery is very encouraging and suggests
the
potential for a larger mineralized system under the thin gravel cover on
the
property.
The overall geologic setting and known mineralization along this
underexplored
mineral trend bares close resemblance to the setting of the very
productive,
Triassic age, intrusive and carbonate hosted ore bodies of the Coeur
Rochester-
Relief Canyon district located east of Lovelock, Nevada.
The magnetic data collected in January is being processed by a Reno-based
geophysicist. The data will be used to identify additional targets,
particularly
in the pediment-covered northern portion of the property. Initial drilling
of
the selected targets on the property is planned for April. Permitting has
been
done but modification of the permit may be necessary to include potential
additional targets which could come from examination of the collected
magnetic
data.
The Twenty-One Silver-Gold Project is located in Mineral County,
approximately
100 miles southeast of Carson City, Nevada. The property sits 3 miles south
of
US Highway 95 and access to the property is by dirt track roads. The
Twenty-One
Silver-Gold Project consists of two blocks of lode claims centered on an
area of
outcropping. High voltage power lines run along Highway 95 providing
excellent
infrastructure to the project area.
Surface Sample Geochemical Results from Twenty-One Silver-Gold Project:
SAMPLE ID Au Ag As Bi Cu Mn Mo Pb Sb Zn
ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm
MAGR-2 0.006 < 1 200 < 10 76 30 14 30 < 10 < 10
MAGR-8 < 0.005 7 1280 < 10 461 1470 < 5 20 120 70
MAGR-9 < 0.005 < 1 3770 < 10 73 280 13 30 10 240
MAGR-10 < 0.005 < 1 4520 < 10 151 520 9 60 < 10 760
MAGR-17 0.021 17 200 < 10 25 10200 < 5 4960 250 2500
MAGR-20 0.019 < 1 40 < 10 55 50 < 5 30 < 10 10
MAGR-21 0.098 < 1 60 < 10 40 100 10 60 < 10 40
MAGR-27 0.015 < 1 160 < 10 193 1050 20 50 10 20
MAGR-29 1.49 673 3670 10 11 80 33 45300 190 1410
MAGR-30 < 0.005 < 1 30 < 10 < 5 270 < 5 70 < 10 30
MAGR-31 < 0.005 < 1 60 < 10 < 5 450 < 5 130 < 10 100
MAGR-32 1.08 239 1180 < 10 36 3410 11 6600 60 1690
MAGR-33 0.623 203 820 < 10 5 1280 35 8990 50 450
MAGR-34 1.68 515 1340 < 10 37 230 47 22000 130 2000
MAGR-35 1.65 1030 2360 20 28 160 42 > 50000 340 1820
MAGR-36 < 0.005 2 1830 < 10 6 150 87 560 490 520
MAGR-37 3.40 2100 5890 10 214 490 226 > 50000 570 13500
MAGR-38 1.60 662 520 < 10 7 90 < 5 10500 70 890
MAGR-39 0.011 6 20 < 10 158 570 < 5 300 < 10 220
Notes * Gaps in the samples sequence are either from non-anomalous samples
or
are from samples collected outside the current Cypress land position.
* g/t = grams per metric tonne
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.
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development
Corp.
is the Qualified Person as defined by National Instrument 43-101 and is
supervising both the project field work and the preparation of the
technical
information in this release.
To find out more about Cypress Development Corp. (TSX VENTURE: 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
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ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
This news release may contain certain 'Forward-Looking Statements' that may
involve a number of risks and uncertainties. There can be no assurance that
such
statements will prove to be accurate, and actual results and future events
could
differ materially from those anticipated in such statements. For a more
detailed
discussion of such risks and other factors, refer to the Company's filings
with
Canadian Securities regulators available on www.sedar.com.
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Source: Cypress Development Corp. via Thomson Reuters ONE
[HUG#1586344]
For further information contact:
Donald C. Huston
President
or
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: Email Contact
