TSXV: CYP | OTCQB: CYDVF
Cypress Development Corp. (TSXV: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) ( " Cypress" or " the Company") is pleased to report extraction testing of lithium- bearing claystone from the Company's 100% owned Clayton Valley Lithium Project ("Project") in Nevada has commenced. The test work is ongoing at Cypress' pilot plant in Amargosa Valley, Nevada and utilizes chloride-based leaching combined with the Chemionex—Lionex process for Direct Lithium Extraction (DLE).
"The pilot plant is operating as designed. Leaching is now underway on lithium clay" stated Bill Willoughby , President and CEO of Cypress. "I would like to thank the team for doing an excellent job in bringing the pilot plant to this point, and we look forward to obtaining the test results from the program."
The pilot plant is located at a secure facility, approximately 100 miles (160 km) southeast of the Company's Clayton Valley Lithium Project, operated by del Sol Refining, Inc. The pilot plant test program is intended to confirm and optimize the extraction of lithium from Cypress' Project, following the recommendations outlined in the Company's Pre-Feasibility Study . Operations are under the direction of Continental Metallurgical Services, Llc., with support from del Sol Refining, Inc., and Chemionix Inc..
Pilot Plant Photos
About Cypress Development Corp
Cypress Development Corp. is a Canadian advanced stage lithium exploration company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA . Work completed by Cypress led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The results of a positive Pre-Feasibility Study for the Clayton Valley Lithium Project were announced by Cypress Development in August 2020 . Cypress Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the symbol CYDVF.
ON BEHALF OF Cypress Development Corp.
WILLIAM WILLOUGHBY , PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as " expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. 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.
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SOURCE Cypress Development Corp.