Cypress Development Corp. (TSXV:CYP,OTC Pink:CYDVF) announced that Nevada’s Bureau of Land Management has approved its application of a Notice of Intent to complete a Phase 2 drilling and exploration program at the Gunman zinc-silver-gold project.
As quoted in the press release:
Following a highly successful 2014 Phase 1 exploration and drilling program at the Gunman project, Cypress is moving forward with a Phase 2 drill program. The very high grade zinc and silver drill intercepts returned from Phase 1 drilling at the RH Zone, with new exposures of the mineralization, has led to the conclusion that the spectacular oxide mineralization is likely a high grade polymetallic vein and breccia system and represents a very high quality zinc-silver project located in a very favorable geologic environment.
The Phase 2 program has begun with a detailed surface rock chip sampling program focused on additional, reconnaissance-stage targets at the Gunman project known as the Far South Copper, RH South Zinc, the Far North Zinc Target located approx. 6000 feet north of the RH Zone and the TQCU Copper Target located approx. 300 feet west of the RH Zone with assays on 107 rock chip samples pending.
The 2014 Phase 2 drill program at the RH Zone will consist of approximately 3000 feet of RC drilling at specific zinc and silver oxide targets. Cypress anticipates the drill program to start around the middle of August.
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