Cypress Development (CYDVF)
Drill Results Highlight Opportunity for an Extended Shallow Pit Design
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Sonic drill program. Cypress Development reported results from its sonic drill program intended to obtain material for metallurgical testing at the company’s lithium extraction pilot plant and to supplement the project’s resource model for the feasibility study that is expected to be completed by year-end. Eight holes were drilled representing a total of 580 meters with depths ranging from 61 to 76 meters. Four holes were drilled in the central part of the Clayton Valley property near the planned location of a starter-pit, while four holes were drilled in the northeast portion of the project on and near a parcel of property acquired in May from Enertopia Corporation.
Results validated the company’s resource model. The assay results were in line with lithium grades predicted at all eight locations by the company’s resource block model. The compiled average lithium grade from all eight holes were 1,080 parts per million lithium compared to 1,060 parts per million predicted by the company’s current resource model for all eight locations….
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.