Cypress Development (CYP.V), which aims to develop its Clayton Valley lithium project in Nevada, has provided a few updates in the past few weeks as it continues to advance the project to the feasibility study stage.
Earlier in September, the company reported its pilot plant is almost ready to be commissioned as the majority of the components have been assembled and are operational. Initial test runs are expected to occur after initial inspections and approvals of the pilot plant. As you may remember, seeing the metallurgical test results from the pilot plant will be very important to complete the feasibility study as the data will enable Cypress to finetune all the parameters it needs to put an economic study together.
In a separate release, Cypress announced the acquisition of an additional 24 unpatented mining claims for a total of 480 contiguous acres for a payment of 49,000 shares (with a market value of approximately C$75,000). These additional claims bring the total size of the land package to just over 6,500 acres and according to Cypress, the new claims were acquired for their exploration potential.
