3 Drill Programs Announced for Gold & Silver-Copper Projects in Nevada
Vancouver, BC - Cypress Development Corp. (TSX.V: CYP) is pleased to announce its spring / summer drill programs on 3 of Company’s 100% owned Nevada properties.
The Verde Silver-Copper Project, west central Nevada
Cypress Development will complete a Reverse Circulation (RC) drill program on its Verde claim group this spring with May 15 as the anticipated start up date. The drilling will be centered on outcropping bonanza grade silver mineralization located within the widely mineralized Walker Lane structural belt in Mineral County, Nevada.
A detailed surface sampling program and stream sediment sampling was conducted on the property in November 2005. The samples were screened to a -80 mesh with a split then being assayed for gold (Au) and sliver (Ag) along with an ICP 32 element suite. Bonanza grade silver was encountered in the samples with assays ranging from 1640 ppm Ag to 6710 ppm Ag (47 oz / ton Ag to 195 oz / ton Ag), and was accompanied by multi-percent copper ranging from 3.13% Cu to 5.12% Cu.
The sampling also shows gram level gold, and abundant arsenic, bismuth, and mercury. The Company believes that the silver-copper-gold-bismuth-mercury signature of the Verde property is directly analogous to that of the poly-metallic carbonate skarn and intrusive hosted ore deposits which have been mined world wide. Management is aware that strong geological / geochemical indications of a buried “causative intrusion” are present and significant upside is possible by drilling under the bonanza grade silver showings at the Verde project.
The vertical and horizontal extent of the structurally controlled, strongly mineralized outcrops has remained completely untested until now.
Cypress Development is very encouraged with all assay results received to date on the Verde Project.
The Scorpion Gold Project, west central Nevada
The Scorpion property also lies within the widely mineralized Walker Lane structural belt in central Mineral County, Nevada. Cypress intends to carry out an RC drill program this spring / summer of approximately 2000 feet in 4 -- 5 holes.
The Scorpion property is within an east-west trending zone of faulting and alteration / mineralization known as the Cerro Duro shear that contains both precious metal and base metal systems. Significant gold production has occurred at the Borealis and Camp Douglas Mines in the immediate area.
The Scorpion target area is in an area of intensely quartz-alunite altered and rhyolitic volcanic rocks exposed beneath young basalt cover rocks. The Scorpion property contains all the identified geologic ore controls exhibited in the Borealis district and the geologic setting and data at the Scorpion property indicate a high potential for Borealis style gold deposit(s) within the large alteration system. Detailed sampling to date has encountered gold values in select vein material samples ranging from .01 oz / ton Au to .16 oz / ton Au.
The Awake Gold Project, northern Nevada
A 2000 foot RC drill program is planned for the Awake gold property located in Humboldt County, Nevada. The target at the Awake property is gold mineralization situated along strike with mineralization at the Sleeper Gold Mine located to the NNE of the Awake property.
It is interpreted that the high degree of fracturing and highly anomalous gold -- arsenic mineralization on Gabica Butte indicates the close proximity of gold mineralized structures. Structural and vein trend projections from the Sleeper Mine area strongly support the Awake property target concept.
Gunman Zinc Project, east central Nevada
Cypress Development also intends to issue a News Release shortly regarding details of the Company’s exploration and drilling plans for its high grade zinc oxide / sulfide project located in White Pine County, east central Nevada where drilling in 2000 recovered grades in excess of 25% zinc and 8 oz / ton silver over significant widths.
The Broulan Reef Gold Project, Red Lake, Ontario
In other news, Cypress Development is awaiting all assay results from its recently completed 5 hole winter 2006 diamond drill program on the ice portion of the Broulan Reef property, which are expected before the end of April. This property is located south and adjacent to the Southern Star Resources / Exall Resources Gold Eagle property, where a major successful drill program is underway, and 7 km due west of the Goldcorp operating Red Lake gold mine in northwestern Ontario.
The company has previously announced that it will continue drilling on the land portion of the Broulan Reef project as soon as spring breakup is completed. It is anticipated that the Phase 2 drilling will commence the beginning of June 2006. Cypress Development has made arrangements with its contractor, Rodren Drilling, to supply a larger diamond drill rig capable of up to +/- 4000 foot holes for its Phase 2 drill program.
David J. Busch, B.A., B.Sc., PGeo., Vice President of Explorations, is the qualified person under the meaning of National Instrument 43-101, and has reviewed the data in this News Release.
Cypress Development Corp. is a precious and base metal exploration company developing 2 gold properties in Red Lake, Ontario, Canada, and 2 gold properties, a silver/copper property, and a zinc property in Nevada, U.S.A.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD C. HUSTON
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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