Don Myers's Contact Details

Don Myers's Company Details

Cypress Development (TSX-V: CYP) (OTCQB: CYDVF) is focused on developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada, U.S.A. Exploration by Cypress has discovered a world-class resource of a lithium-bearing claystone adjacent to the Albemarle Silver Peak mine, North America's only lithium brine operation. The size of the resource makes the Clayton Valley Project a premier source that has the potential to impact the supply of lithium for the fast-growing global electric vehicle and energy storage market.In May 2020, Cypress announced positive results from a Prefeasibility Study (PFS) of the Company's Clayton Valley Lithium Project in Nevada.Highlights of Prefeasibility Study:• Average annual production of 27,400 tonnes per year LCE.• Mine life for PFS of +40 years.• Lithium Carbonate price of $9,500 per tonne.• Industry-low cash cost of US$3,329 per tonne LCE.• US$1.052 billion NPV at 8% discount rate, after-tax basis.• After-tax internal rate of return (IRR) of 25.8%• Capex payback period of 4.4 years.• Production based on Probable Mineral Reserve of 222 million tonnes averaging 1,141 ppm Li (1.353 Mt LCE) based on cut-off grade of 900 ppm Li.• Reserves and production plan derived from Measured and Indicated Mineral Resources of 593 million tonnes averaging 1,073 ppm Li (3.387 Mt LCE).The PFS report supports further work with the recommendation to conduct a pilot plant study and initiating a feasibility study and permitting. * In August 2020, Cypress completed an updated Mineral Resource Estimate. Measured and Indicated Mineral Resources increased 55% to 929.6 million tonnes averaging 1,062 ppm Li (5.2 Mt LCE) based on a cut-off grade of 900 ppm Li. No changes in the PFS mine design or production schedule have been made at this time.Cypress Development is advancing its Clayton Valley Lithium Project in Nevada towards the production of high-purity lithium hydroxide (LiOH) suitable for tier one battery usage.