Cypress & Skyharbour Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project
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Cypress Development Corp. / Cypress & Skyharbour Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
www.cypressdevelopmentcorp.com
TSX-V Trading Symbol: CYP Telephone: (604) 687-3376
Email: info(at)cypressdevelopmentcorp.com Facsimile: (604) 687-3119
JOINT NEWS RELEASE
March 08, 2010
Cypress & Skyharbour Drilling Update on
Broulan Reef Bruce Channel / Red Lake Gold Project
Vancouver, BC - Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) and Skyharbour
Resources Ltd. (TSX-V: SYH) have provided an update from the field on their deep
diamond hole drill program on Cypress (80%), Skyharbour (20%) owned Broulan Reef
Project located in the heart of the prolific Red Lake gold camp in Northwestern
Ontario. The Broulan Reef property adjoins, on strike, to the southern boundary
of the Cochenour / Bruce Channel major gold deposit now being brought to the
production stage by Goldcorp.
Bruce Channel Red Lake, Ontario Map:
http://www.cypressdevelopmentcorp.com/s/Image.asp?i=photos/Bruce_Channel_Photo.g
if
Drill hole BR 09-2 is targeting the known gold hosted North / South Shear Zone
that hosts the Bruce Channel deposit of Goldcorp and extends on to the Broulan
Reef property. The deep hole drilling is allowing Cypress / Skyharbour to
explore for high grade, gold zones at a depth of 2500 to 2900 metres just 800
metres south-southwest of Goldcorp's Bruce Channel gold deposit.
Chibougamau Diamond Drilling has now completed BR09-2 to a depth of 2738 metres
and has maintained the hole is very good order and on track to intersect the
targeted depth. Drillers have encountered blocky and fractured ground over a
small interval at depth and have informed the companies the establishment of a
wedge hole would be advisable. Therefore a wedge has been established at 2440
metres and drilling has resumed.
The companies are very pleased with the geology encountered so far.
The drill hole encountered the North-South shear at 2676 metres in the hole and
continued to the point at 2738 metres. It consists of strongly sheared and
brecciated carbonate and carbonate veins. Calcite is pervasive throughout.
Strong biotite rich zones up to 10 meters thick occur within the shear. This may
be remnants of highly altered mafic dikes. Magnetite as wisps and actinolite as
fine disseminations occur in the lower part of the shear. The Bruce Channel gold
deposits occur in the footwall of the extensive North South shear.
Cypress Development has also contracted to Quantec Geoscience to conduct a
"Spartan" Deep Penetrating MT Survey on its acreage in the Bruce Channel area.
The exploration objective of the Spartan MT logger survey at the Bruce channel
is to detect structure, alteration zones and lithology potentially related to
mineralization from depths of 2000 metres to 3000 metres. The mapping of the
resistivity of the subsurface of the Broulan Reef project to significant depths
and the follow up geological interpretations are expected to provide large new
benefits to Cypress and Skyharbour in keeping with additional or new subsurface
information provided from the survey.
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.
Don Huston, President and CEO of Cypress Development Corp., provided much more
information on the potential of the Broulan Reef gold project in a Smartstox
interview available at http://www.smartstox.com/interviews/cyp.
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-V: CYP), visit our website
at www.cypressdevelopmentcorp.com
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a gold and base metal exploration company
developing projects in the RED LAKE and RAINY RIVER districts of northwestern
Ontario, Canada.
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH), visit the
Company's website at www.skyharbourltd.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
DONALD C. HUSTON
President
For further information contact myself or:
Don Myers
Director
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email:info(at)cypressdevelopmentcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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
[HUG#1391478]
--- End of Message ---
Cypress Development Corp.
null Vancouver, BC Canada
ISIN: CA2327491015;
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
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Datum: 08.03.2010 - 04:00 Uhr
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