CYP has news...Cypress Develpment Corp.
September 19, 2006 - 07:30:07 AM
Cypress Development Corp.: 21 Years Mining Leases Received for Broulan Reef
Gold Project, Red Lake, Ontario
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 19, 2006) - Cypress
Development Corp. (TSX VENTURE:CYP) is pleased to announce that confirmation
has been received from the Ministry of Northern Development and Mines of
Ontario for the renewal of the Broulan Reef mining leases for an additional 21
years, held by Cypress (80%) and Skyharbour Resources Ltd. (20%). This allows
the companies greater latitude in their ability to conduct proper and
extensive exploration programs over a long period of time. The Broulan Reef
property is located adjacent to the south of Southern Star Resources / Exall
Resources Gold Eagle property, where a major successful drill program is
underway, in the heart of the Red Lake gold camp of northwestern Ontario.
Location Map:
https://www.cypressdevelopmentcorp.com/s/Image.asp?i=maps/CYP-McKenzie-Island-New-Map.jpg
The 2006 summer deep drill program on Broulan Reef project is continuing with
the 1st hole (BR6-06) now completed, assays are pending. The 1st hole was
collared on the east shore of McKenzie Island and drilled to the east under
the waters of the Bruce Channel. The 1st hole has encountered several well
recognized stratigraphic horizons including rhyolite and iron formations. The
hole ended in Balmer Assemblage mafic volcanics. The drilling of the 2nd deep
hole (BR7-06) is currently underway. The 2nd hole was collared at the same
location as BR6-06 and is being drilled in a southeasterly direction (130
degrees azimuth).
Cypress and Skyharbour Resources are finalizing plans for a winter 2006-2007
drill program to follow-up on data received from this summer's 3 deep holes
drill program.