VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 5, 2014) - Cypress Development Corp. (TSX VENTURE:CYP) (PINKSHEETS:CYDVF) (FRANKFURT:C1Z) ("Cypress" or the "Company") is pleased to announce that the Phase 1 2014 drill program at its wholly owned Gunman zinc oxide project, Nevada, has started. The 1140 acre Gunman zinc-silver-gold project is located directly west of Barrick's Bald Mountain gold mine complex on the southern Carlin mineral trend in White Pine County, Nevada.
Southern Carlin Trend location map:
Cypress Development Corp has contracted to New Frontier Drilling of Fallon, Nevada, to complete approximately 3000 feet of RC drilling in a Phase 1 program on the Gunman project.
President Don Huston stated: "it's time for Cypress Development to become proactive at the Company's Gunman zinc-silver oxide project in northeast Nevada. There is a bullish outlook for the zinc market with the tightening of zinc mine supply world wide, illustrated by a global zinc metal deficit in 2013 for the first time in five years. Cypress believes it has a great opportunity to duplicate the RH zinc-silver rich zone discovered at the Gunman project in 2000 with extended drilling in 2014 to the RH North Zone "
A surface sampling program has also been initiated on the newly staked adjacent ground which forms the northern extension of the Gunman property. The Company's senior geologist, Mr. Robert Marvin, has mobilized to the Gunman project and has established an exploration grid to facilitate the systematic sampling of rock exposure on the north of the property.
Gunman zinc-silver project, Nevada claims map:
Cypress will continue in its exploration efforts to delineate the RH North target area with the potential establishment of a mineralized zone similar to the existing high grade RH zinc-silver oxide discovery zone located approximately 1500 feet to the south in the middle of the property.
2007 Gunman zinc-silver project, Nevada drill map:
Mineralization at the Gunman project appears to be controlled by a series of well developed NNE trending fracture zones. This setting is seen in other locations along the Carlin and the Battle Mountain gold trends where the NS to NNE alignments of mineralized zones are located in cross cutting structural zones within or adjacent to the main NNW striking trends. The mineralization of the zinc-silver zones on the Gunman is located close to surface. The very high grade of zinc-silver mineralization seen in the RH zone is a compelling reason to continue exploration on the Gunman project.
Past surface sampling and drilling by Cypress on the Gunman property has resulted in the discovery of a series of zones of zinc-silver mineralization over a strike length of 2500 feet. The northern most mineralization known (hole GD-15) on the property was discovered at the end of the most recent drill program in 2007 and this mineralization remains essentially unexplored.
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp. is the Qualified Person as defined by National Instrument 43-101 and has supervised both the project field work and the preparation of the technical information in this release.
On March 18th, Cypress announced the completion of a National Instrument (NI) 43-101 Compliant Technical Report on the Gunman zinc-silver-gold project. For additional information please refer to the full report filed on SEDAR and on Cypress' web site dated March 17, 2014 and titled: GUNMAN ZINC-SILVER PROJECT NATIONAL INSTRUMENT 43-101 COMPLIANT TECHNICAL REPORT.
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. The Company is well funded with approximately $1.5 million in its treasury.
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
Donald C. Huston, President
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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.