Cypress Jumps 14.28 Percent on Surface Sampling Results

Cypress Development Corp. (TSXV:CYP) announced surface sampling results from the initial part of Phase 2 exploration and drilling at its Nevada-based Gunman zinc-silver-copper project.

The news sent the company’s share price up nearly 15 percent yesterday, from $0.035 to $0.04.

As quoted in the press release:

A total of 107 samples were collected in areas of outcrop along an identified 3 kilometer long mineralized trend at the project. The Phase 2 sampling program focused on the south central portion of the Gunman property, an area containing the RH South Target, Far South Copper Target and the TQCU Copper Target.

Conclusions and recommendations are as follows:

The results of the 2014 Phase 2 surface sampling program are considered highly encouraging. Arsenic, bismuth, molybdenum and tungsten anomalies accompany the copper-silver-zinc mineralization in the oxidized clastic units and together suggest the possibility of an intrusive source for the mineralizing fluids. Sampling of the RH South Hill was particularly successful and definitively shows that the geologic environment and high grade mineralization at the RH South Target is nearly identical to that of the main RH Zone. Strong copper-silver mineralization in the well oxidized, basal portion of a clastic sedimentary package overlies strongly decalcified carbonate rocks which host robust zones of very high grade zinc and silver mineralization. The RH South Target has been drilled at a first pass level of detail and well mineralized intervals have been discovered there. The results of the surface sampling program strongly suggest more drilling is needed at the RH South Target due to multiple samples of bleached, decalcified limestone returning assays in the 10% to >35% zinc range and accompanied by silver values up to 228 g/t.

Click here to read the full Cypress Development Corp. (TSXV:CYP) press release.