Cypress Development (TSXV:CYP, OTCQB:CYDVF) has launched its campaign on the Investing News Network
Cypress Development (TSXV:CYP, OTCQB:CYDVF) focuses on developing its 100 percent owned Clayton Valley lithium project in Nevada, USA. The company’s extensive exploration and development have led to discovering a world-class lithium-bearing claystone resource adjacent to the Albemarle (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation. The company’s discovery of the massive resource made Clayton Valley a premium American source of lithium that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.
“We’re in Nevada and we’re in a country that badly needs lithium. We would be the most environmentally friendly project, and the lowest acid consumer. We’re able to eliminate sulfuric acid in our process and that would make us an extremely environmentally friendly, large, inexpensive low cost producer in the heart of the United States.” said Cypress Development CEO Dr. Bill Willoughby.
Cypress Development’s Company Highlights
- Cypress Development is one of a handful of companies that are post-pre-feasibility, advancing towards production. The company is well advanced to become a long-term, low-cost lithium producer with potential expansive international reach.
- The Clayton Valley lithium project in Nevada has an extensive surface deposit in a unique setting adjoining Albemarle’s Silver Peak brine operation.
- Operating out of the prolific Nevada state provides the company with world-class exploration opportunities, mineral-rich geological resources and proximity to the Tesla gigafactory.
- In 2020, the company released strong economic standing with its pre-feasibility study, including a probable reserve estimate of 213 million tonnes at 1,129ppm lithium, IRR of 25.8 percent and CAPEX of CAD$493 million.
- Cypress possesses very favorable economic and geographic positioning in leveraging a present strong demand for lithium, world-class mining jurisdiction and an advanced stage operation in their flagship Clayton Valley lithium project.
- 2021 plans include the commissioning of the Clayton Valley lithium project’s pilot plant, which could see significant tonnage in lithium and clay production. Cypress is also looking to complete its feasibility study based on the data from this pilot plant operation.