Cypress Development To Acquire Frost Gold Project

 

VANCOUVER, BC - Cypress Development Corp. has entered into an Option Agreement with Robert D. Marvin of Reno, Nevada to earn a 100% interest in the 1056 acre (48 claims) Frost gold property located in Malheur County, south eastern Oregon, approximately eight miles west from Calico Resources Grassy Mountain gold project. The Calico Resources Grassy Mountain gold project is currently tracking to a production scenario based on major exploration programs completed by Newmont and Seabridge Gold.
The Frost property lies within the Owyhee Highlands, a Miocene age geologic terrain which is known to contain high grade gold mineralization hosted in both low sulfidation (quartz-adularia) veins and within pervasively altered and brecciated sandstone units.
The Frost project is centered on an outcropping, reed cast fossil bearing, hot springs sinter. Limited drilling has discovered blind, coarse gold bearing veining at shallow levels below the outcropping sinter. Strike extension exploration of the known discovery vein system is incomplete. In addition, exploration of the discovery vein system within a massive and highly favorable basalt unit located deeper in the rock section under the known mineralized structure has not been done. The high potential for the discovery of significant gold bearing vein systems within the massive, thick basalt unit is due to the brittle nature of the unit, repeated fracturing of such units provide excellent pathways for vein development.
The complex stratigraphy of the Frost property creates strongly vertically zoned mineralization including the existence of blind veins which are concealed below altered cap rocks. The discovery of strong gold mineralization at the Frost property by Western Mining Corp was done by reverse circulation drilling (1990) along a linear soil geochemical anomaly that was high in silver and anomalous in gold. Drill results included an intercept of 4.6 meters of 14.5 grams per tonne gold within a steeply dipping quartz vein. The intercept occurred from 88.4 to 93 meters downhole. A second high grade intercept of 4.6 meters of 8.0 grams per tonne gold occurred in a separate RC hole at a depth of 65.5 to 70.1 meters. Potential extensions to the discovery vein have not been explored in any detail at the Frost property.
Cypress is contemplating an initial reverse-circulation drill program of 1000 meters in 4 to 6 holes to substantiate previous work and to further delineate the geometry and extent of high grade vein mineralization. A previous detailed soil geochemical survey has indicated a strong linear soil anomaly approximately 215 meters to the south west of known mineralization. Two additional priority targets with strong multi-element soil geochemical data coincide with the projected trend of the known NW-SE orientated structures.