NewsCypress Development Amends Agreement for 21 Silver-Gold Claims, Nevada
VANCOUVER, BRITISH COLUMBIA, Aug 19, 2011 (MARKETWIRE via COMTEX News Network) --
Cypress Development Corp. (TSX VENTURE: CYP) (FRANKFURT: C1Z) announces that it recently entered into second amending agreement with Mr. Robert Marvin wherein the Company was granted an extension to a work commitment on the Twenty-One Silver-Gold Claims located in Mineral County, west central Nevada from July 14, 2011 to December 31, 2011.
Twenty One Silver-Gold project location map: https://www.cypressdevelopmentcorp.com/i/maps/21/Twenty-One-Silver-Gold-Production-Trend.jpg
The Company entered into an Option Agreement dated January 14, 2010 with Mr. Marvin, whereby the Company has been granted an option to earn a 100% interest, subject to a 2% net smelter royalty, in the Twenty-One Silver Gold Claims.
Previous chip sampling of exposed quartz breccia veins returned assay values from 211 g/t (6.5 ounces) silver to 1141 g/t (34.5 ounces) silver and up to 2 g/t gold. The vein breccias occur within a parallel series of east-northeast trending faults which cut a 1312 foot X 1640 foot zone of altered, hydrothermal, quartz matrix breccia. High lead, arsenic, zinc, bismuth and tellurium values accompany the sampled mineralization. Andesitic and rhyolite sills, plugs, and dikes occur on the Twenty-One Silver-Gold property. The mid-Miocene age intrusive activity in this district is considered to be highly favorable for the existence of both epithermal precious metal veins and related mineralization within carbonate wall rocks.
The Twenty-One Silver-Gold Project is located in Mineral County, approximately 100 miles southeast of Carson City, Nevada. The property sits 3 miles south of the pavement of US Highway 95. Access to the property is by dirt track roads. The Twenty-One Silver-Gold Project consists of two blocks of lode claims centered on an area of outcropping. High voltage power lines run along highway 95 providing excellent infrastructure to the project area.
About Cypress Development Corp.:
Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada, and in Nevada, U.S.A.
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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Contacts: Cypress Development Corp. Donald C. Huston President 604-687-3376 or Toll Free: 800-567-8181 604-687-3119 (FAX) Cypress Development Corp. Don Myers Director 604-687-3376 or Toll Free: 800-567-8181 604-687-3119 (FAX) info@cypressdevelopmentcorp.com www.cypressdevelopmentcorp.com
SOURCE: Cypress Development Corp.
mailto:info@cypressdevelopmentcorp.com https://www.cypressdevelopmentcorp.com
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