Cypress Development Files Preliminary Economic Assessment (PEA) for Clayton Valley Lithium Project, Nevada, Begins Prefeasibility Study

Share this article

Drilling the Dean lithium project in the Clayton Valley, Nevada. Source: Cypress Development Corp.

Cypress Development Corp. [TSX-V: CYP, OTCQB: CYDVF, Frankfurt: C1Z1] is pleased to announce that a National Instrument 43-101 Technical Report titled “Preliminary Economic Assessment Technical Report for Clayton Valley Lithium Project, Esmeralda County, Nevada” has been filed. The Report is available for review under the Company’s profile on SEDAR at www.sedar.com, and on the Company’s website at www.cypressdevelopmentcorp.com. The Report was prepared by Global Resource Engineering (GRE) of Denver, Colorado, an independent engineering services firm with extensive experience in mining and mineral processing.

Dr. Bill Willoughby, Cypress CEO commented “Finalizing the PEA for Clayton Valley is a significant milestone. The project has advanced from the first drill hole to a positive PEA in under two years. Our next steps have the potential to unlock shareholder value as we continue with infill drilling, further metallurgical studies, and a prefeasibility study to provide more detailed information related to the project’s economic assumptions.”

Results from the PEA were announced on September 6, 2018 and highlights are summarized below. Values are in US dollars.

PEA Summary:

The base case price for lithium carbonate was based upon a market study by Benchmark Research. The PEA included updated mineral resources with an Indicated Resource of 831 million tonnes at 867 ppm Li (3.835 million tonnes LCE) and an Inferred Resource of 1.12 billion tonnes at 860 ppm Li (5.126 million tonnes LCE), based upon a cut-off grade of 300 ppm Li.

PFS Underway:

GRE recommends the Prefeasibility Study (PFS) as the next step for the project. The PFS will include infill drilling to upgrade resource categories and optimize the production schedule within the mine area. Metallurgical testing will include determining optimum leach conditions and configuration of the process plant as well as further testing at the bench-scale to demonstrate production of high purity lithium carbonate suitable for battery usage.

Within the recommendations is testing to investigate rare earth elements, most notably scandium, neodymium and dysprosium, that were identified in solution during the PEA and could be potentially recoverable by-products. Additionally, study of alternative processing methods, such as membranes and ion exchange resins, and trade‐off studies related to capital and saleable electrical generation for the acid plant are recommended.

Initiation of baseline data collection, hydrology and geotechnical studies will also be conducted. The PFS carries a total estimated budget of $800,000. Cypress intends to follow the recommendations, beginning with infill drilling to start in the next 1-2 months, and metallurgical test work which has already begun. Cypress anticipates the PFS to be completed in Q1 2019.

About the PEA:

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Global Resource Engineering (GRE) of Denver, Colorado, prepared the NI 43-101 Technical Report. Terre A. Lane, J. Todd Harvey, Hamid Samari, and J. J. Brown of GRE, and Todd Fayram of Continental Metallurgical Services are the Qualified Persons for the Report.

The information contained in this news release relating to the PEA has been reviewed and approved by Terre Lane of GRE, who is a “Qualified Person” as the term is defined in National Instrument 43-101 and is independent of Cypress.  GRE has reviewed and approved the presentation of the PEA information in this news release.

About Cypress Development Corp.:

Cypress Development Corp. is a publicly traded exploration company focused on developing the Company’s 100%-held Clayton Valley Lithium Project, located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field.

Cypress Development Corp. has approx. 62.4 million shares issued and outstanding.

To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.

CYPRESS DEVELOPMENT CORP.

 

“Dr. Bill Willoughby”

WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer

For further information contact myself or:
Don Myers

Cypress Development Corp.

Director, Corporate Communications

Telephone: 604-639-3851
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com


Share this article
Filed in: Lithium, Resources

You might like:

White Gold Corp. Discovers New High-Grade Parallel Structure 300m from Previous Drilling on Vertigo Target Intersecting 9.2 g/t Au over 9.14m, including 17.2 g/t Au over 4.6m and also Encounters Multiple High-Grade Surface Results up to 304 g/t Au and over 1,000 g/t Ag Expanding Footprint to 2.2km x 650m White Gold Corp. Discovers New High-Grade Parallel Structure 300m from Previous Drilling on Vertigo Target Intersecting 9.2 g/t Au over 9.14m, including 17.2 g/t Au over 4.6m and also Encounters Multiple High-Grade Surface Results up to 304 g/t Au and over 1,000 g/t Ag Expanding Footprint to 2.2km x 650m
Pasinex retracts zinc mine technical report Pasinex retracts zinc mine technical report
Sun Metals raising $5 million for B.C. exploration Sun Metals raising $5 million for B.C. exploration
Unlocking A Proven Historical Gold Mining District Unlocking A Proven Historical Gold Mining District

Leave a Reply

Submit Comment
© 2018 Resource World Magazine . All rights reserved. XHTML / CSS Valid. For advertising and subscription information, call +1-877-484-3800 or email support(at)resourceworld.com