Cypress to Acquire Clayton Valley Lithium Brine Project, Nevada
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Cypress Development Corp. has entered into an option agreement to acquire a 100 percent interest in the 1280 acre Clayton Valley Lithium Brine Project located in Esmeralda County, in the state of Nevada, USA.
Cypress’ Clayton Valley Project is located on the south flank of “Angel Island” and immediately southeast of the Albemarle Silver Peak lithium brine mine. The acquired claims share their western boundary with placer claims controlled by Pure Energy Minerals. Pure Energy has identified a lithium resource at its Northern Resource Area, that is located to the immediate west of Cypress’ newly established boundary.
Cypress’ highly prospective Glory and Angel claims are located within 0.5 miles (>1000m) south of current and past producing lithium brine wells belonging to the Albemarle Silver Peak Mine. Cypress’ Clayton Valley claims are located in an active area of surface hectorite clay lithium mining and lithium exploration. Highways and electric power are in place and exploration resources needed are readily accessible.
The Albemarle Silver Peak Mine is the only operating brine based lithium mine in North America. The Silver Peak area is one of the oldest mining areas in Nevada having produced substantial amounts of silver, gold and other minerals. The Silver Peak Mine began operations in 1967 to mine lithium by low cost evaporation ponds and has produced lithium since then.
Tesla Motors is driving the current lithium boom in Nevada with the construction of a Gigafactory, a large-scale lithium-ion battery facility outside of Sparks Nevada. Market speculations of the likely construction of additional large-scale lithium battery factories in the region appears based on the potential of lithium batteries as all purposed energy storage units that are highly scalable.
About Cypress Development Corp.
Cypress Development Corp. is a diversified precious and base metals exploration and development company with projects in Red Lake, Ontario, Canada, and in Nevada, U.S.A.
To stop by Cypress’ website, CLICK HERE
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