Cypress Development Corp.

February 16, 2012 09:22 ET

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 - Feb 16, 2012) -

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 

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 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]

Contact Information

  • 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