VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2012) - Cypress Development Corp. (TSX VENTURE:CYP) (PINKSHEETS:CYDVF) is pleased to announced the staking of 16 additional lode mining claims (approx. 350 acres) covering the north strike extension of carbonate hosted, high-grade zinc and silver mineralization found at the Company's 100% owned 2400 acre Gunman Project. The Gunman project is located between the prolific Carlin and Battle Mountain trends in White Pine County, Nevada.
Gunman zinc-silver project location map:
The staked ground was previously held by Barrick Gold Corporation as part of a large land package covering their Bald Mountain gold mine, also located in White Pine County. Barrick, and previously Placer Dome, had held the ground since 2007.
The mineralization at Cypress' Gunman property appears to be structurally controlled along a fault zone that strikes NNE. The mineralization consists of very high grade zinc oxides and sulfides along with silver, arsenic, gold and mercury mineralization within Permian age limestone host rocks. Previously reported assays from Cypress drilling include zinc values in the 5% to >30% range along with silver values of 10 ppm to 200+ ppm (up to 8 oz/ton silver). Gold values over 1 gram per tonne also occur locally within mineralized zones.
Significant Gunman high-grade zinc-silver results:
Cypress conducted a drilling program in 2007 that extended limestone hosted zinc and silver mineralization to the Barrick property line. The final hole of that program, GD-15, intersected zinc and silver mineralization from 146 to 306 feet down hole. This mineralization included 21 feet grading 1.06% zinc and 0.34 oz/t silver from 146 to 167 feet down hole. Hole GD-15 was collared in an area of recent gravel cover less than 20 feet south of the property boundary and 2200 feet north of the Gunman's RH Main Zone. Cypress has added 6000 feet of potential strike length extension along the trend of known mineralization along the range front by staking the lode claims.
Subcropping jasperiod boulders occur in the area of the Gunman RH Main Zone. These jasperiods are highly anomalous in gold, arsenic, mercury, silver and zinc. The boulders represent resistant rubble crop which overlay intensely mineralized and oxidized zones which were discovered by drilling by Western Mining Corp. (USA) in 1992. Copper oxide mineralization is found in outcrop along the west flank of the known mineralized areas. The east sides of the known zones are concealed beneath recent gravel cover along the range front. The mineralized trend is completely concealed by these recent gravel deposits north of the main Gunman RH Zone.
The Gunman RH North Zone was found by drilling vertically through the over lying gravel deposits and into the mineralized limestone beneath. Targeting of hole GD-15 was done by simple structural projection of the known mineralized trend.
Hole GD drill core picture:
The strike of the known zinc and silver mineralized zones at the Gunman property is approximately 4200 feet. The recent staking adds an additional 6000 feet of highly prospective, undrilled ground to the north. The results of hole GD-15, drilled by Cypress in 2007, strongly suggest that the known mineralization continues onto the recently staked lode claims. A limited program of rock chip sample and reconnaissance mapping was completed during the staking program. A more detailed sampling and mapping program is being planned.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metals exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A.
Robert Marvin, P.Geo., CPG, Exploration Manager for Cypress Development Corp. is the Qualified Person as defined by National Instrument 43-101 and is supervising both the project field work and the preparation of the technical information in this release.
To find out more about Cypress Development Corp. (TSX VENTURE:CYP), visit our website at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Donald C. Huston, President
This news release may contain certain "Forward-Looking Statements" that may involve a number of 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. For a more detailed discussion of such risks and other factors, refer to the Company's filings with Canadian Securities regulators available on www.sedar.com.
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