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October 12, 2007
NEWS
RELEASE
Drill
Program Expands Zinc Mineralization at
Cypress
Development’s Gunman Project
Vancouver,
BC - Cypress Development Corp. (TSX-V: CYP) today announced
that a recently completed diamond drill program of 18 holes, totalling 11,516 feet (3,510 metres), has
confirmed the presence of high-grade zinc-silver mineralization in the RH
Zone and has identified further mineralization in a nearby step out area at
the Company’s Gunman Project.
“We
believe there is significant potential to discover a major new geological extension
to the north of the known RH Zone zinc deposit being encountered in the
current drilling,” said Donald Huston, President of Cypress
Development. “The Company is now compiling all data from this program
with the intent of returning to the Gunman property in the near future to
explore the possibility that the two known zones can be connected along
strike.”
Gunman
Project Location Map: http://www.cypressdevelopmentcorp.com/s/Image.asp?i=Maps/nevada.gif
The
Gunman project is located in western White
Pine County
within the prolific north-central Nevada
metallogenic region. Gunman’s
zinc-silver-copper-mercury signature is typical of large, productive
districts in the region. The project is centered
on a silty limestone hosted
zinc-silver-copper-mercury-gold mineralization system. High-grade,
replacement style, oxide zinc-silver mineralization occurs near surface
within sub-vertically dipping, Permian-age carbonate and clastic
rock packages. Sulfide sphalerite-pyrite-argentite
mineralization occurs locally beneath the oxide mineralization at the known
RH deposit zone.
The
majority of the drilling was targeted at strong conductors delineated during
a Titan survey completed by Quantec in the summer
of 2006. These conductors occur over a two kilometre strike
length along a north-south grid line positioned to pass through the
previously drill delineated RH deposit and RH South zones. Chip logging
of mineralization zones at RH and RH South has shown that 3% to 10% pyrite
occurs with the sphalerite mineralization in
non-oxidized zones.
Three
holes were drilled into portions of the RH zinc-silver zone to characterize
the nature of both the oxide and sulfide portions
of the zinc-silver deposit. Lithologic and
alteration details from this drilling lead to the targeting and drilling of
an area 1200 to 1500
feet north of RH zinc-silver deposit, resulting in the
discovery of a significant extension of the RH Zone or a new separate
mineralized zone.
Results
Titan
Conductor Targets
The
majority of the drilling was targeted at strong conductors delineated during
a Titan survey completed by Quantec in summer
2006. The drilling of eight of the conductors to the south of the RH
Zone has determined that the Titan conductors are the result of graphite
layers, fracture fills and veinlets within
carbonate and clastic stratigraphy.In
general, the graphitic conductors occur below the lower contact of the silty, sandy limestone unit (Gunman limestone) that hosts
the known ore zones at the Gunman Project. The position and geometry of
this contact was unknown prior to the 2007 diamond drill program. Scattered
highly anomalous zinc and anomalous to >40 ppm
silver were intercepted within oxidized, strongly altered and brecciated Gunman limestone in the upper portions of the
Titan conductor test holes.
RH
Zone Geologic Drilling
High-grade
zinc-silver assays returned from previous RC drilling at RH were supported by
limited sampling of the mineralized core.
Several
diamond drill holes were completed into the northern and western portion of
the known RH Zone. The purpose of these holes was to improve the
understanding of the structural, lithologic and
mineralization style of the zinc-silver mineralized zone. An assay of
29% zinc over four feet was returned within a zone of 4% zinc over fifty-four
feet in a sampled zone along the west flank of the RH Zone. While
results largely confirmed previous geologic interpretations of the zone,
important new lithologic and structural details
were found. Most importantly, the drill results showed a clear lithologic control on mineralization. The most
significant intercepts are summarized in the table below.
|
Hole ID
|
Fm (ft)
|
To (ft)
|
Intercept (ft)
|
Zn (%)
|
Ag (oz/t)
|
|
GD-01
|
184
|
207
|
23
|
1.6
|
0.65
|
|
Incl
|
193
|
198
|
5
|
5.7
|
2.0
|
|
GD-01
|
240
|
331
|
91
|
4.2
|
1.5
|
|
GD-02
|
126
|
147
|
21
|
0.1
|
1.2
|
|
GD-03
|
47
|
57
|
10
|
-
|
0.5
|
|
GD-03
|
459
|
464
|
5
|
-
|
2.3
|
|
GD-09
|
10
|
42
|
32
|
0.2
|
1.0
|
|
Incl
|
16
|
38
|
22
|
0.2
|
1.4
|
|
Incl
|
29
|
38
|
9
|
0.5
|
1.8
|
|
GD-11
|
32
|
82
|
50
|
0.2
|
0.2
|
|
GD-11
|
97
|
122
|
25
|
1.2
|
-
|
|
Incl
|
101
|
103
|
2
|
3.0
|
-
|
|
Incl
|
112
|
117
|
5
|
2.0
|
-
|
|
GD-11
|
173
|
227
|
54
|
4.0
|
0.4
|
|
Incl
|
204
|
208
|
4
|
29.0
|
0.3
|
|
Incl
|
213
|
215
|
2
|
16.8
|
0.7
|
|
GD-11
|
452
|
457
|
5
|
0.7
|
0.4
|
|
GD-13
|
61
|
62
|
1
|
3.4
|
1.0
|
|
GD-13
|
76
|
91
|
15
|
5.8
|
0.2
|
|
Incl
|
83
|
86
|
3
|
14.6
|
0.2
|
|
GD-14
|
74
|
87
|
13
|
1.0
|
0.4
|
|
Incl
|
74
|
78
|
4
|
2.4
|
0.4
|
North
Step-Out Area Drill Results
Lithologic
and structural details gained from the drilling at the RH Zone were used to target
a step-out area 1200 to 1500
feet north of RH. Hole
GD-15 intercepted over 200
feet of zinc mineralization from 150 feet to 352 feet below
surface. The most significant intercepts are summarized in the
table below.
|
Hole ID
|
Fm (ft)
|
To (ft)
|
Intercept (ft)
|
Zn (%)
|
Ag (oz/t)
|
|
GD-15
|
146
|
148
|
2
|
1.1
|
0.2
|
|
GD-15
|
148
|
151
|
3
|
0.2
|
0.1
|
|
GD-15
|
151
|
154
|
3
|
0.8
|
0.3
|
|
GD-15
|
154
|
159
|
5
|
1.5
|
0.5
|
|
GD-15
|
159
|
161
|
2
|
1.0
|
0.4
|
|
GD-15
|
161
|
163
|
2
|
1.5
|
0.6
|
|
GD-15
|
163
|
164
|
1
|
2.0
|
0.3
|
|
GD-15
|
164
|
167
|
3
|
0.4
|
0.3
|
|
GD-15
|
199
|
202
|
3
|
0.6
|
0.4
|
|
GD-15
|
202
|
207
|
4
|
0.2
|
0.4
|
|
GD-15
|
207
|
208
|
1
|
0.5
|
0.4
|
|
GD-15
|
208
|
210
|
2
|
0.9
|
0.4
|
|
GD-15
|
210
|
217
|
7
|
0.8
|
0.3
|
|
GD-15
|
228
|
230
|
2
|
1.5
|
0.3
|
|
GD-15
|
289
|
292
|
3
|
1.0
|
0.1
|
|
GD-15
|
302
|
304
|
2
|
0.6
|
0.2
|
|
GD-15
|
304
|
306
|
2
|
0.2
|
0.2
|
While
this new step-out zone is lower grade than the RH Zone, the geologic setting
of the new zone is identical to that at RH. The mineralization in
Hole GD-15 is localized in strongly altered Gunman limestone in a position
immediately east of the fossiliferous limestone section.
Four
points are important in the interpretation of the potential of this new
step-out discovery;
1.
The zinc and silver grades intercepted in Hole GD-15 closely match those seen
at the east and west flanks of the RH Zone. The Company believes it is
highly probable that higher zinc and silver grades would be found by a
program of offset drilling to the north, south and east of Hole GD-15.
2.
The top of the mineralized zone in Hole GD-15 is a fault zone. It is
likely that the upper portion of the mineralized zone has been down-faulted
to a position immediately east of the hole.
3.
Very limited drilling of the 1200 feet between the RH Zone and Hole GD-15
has effectively tested the vertical zone of mineralization found in Hole
GD-15. It is considered very likely that additional mineralization
exists in the 1200 feet
strike length between the 2 known mineralized zones.
4.
The total strike length of known zinc-silver mineralization within the Gunman
limestone has been increased from 800 feet to 2000 feet by step-out
Hole GD-15.
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 diversified precious and base metal exploration and
development company with 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.
To
find out more about Cypress Development Corp. (TSX-V: CYP), visit our website
at www.cypressdevelopmentcorp.com.
ON BEHALF OF THE BOARD OF
DIRECTORS
“Don
Huston”
DONALD C. HUSTON
President
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