Cypress Development (CYDVF) – Feasibility Study On Track for Mid-Year 2023 Completion; Corporate Name Change


Wednesday, January 25, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Corporate name change. Cypress Development’s Board of Directors approved a corporate name change to Century Lithium Corp. which is subject to approval by the TSX Venture Exchange (TSXV). While the TSXV ticker symbol will change, the ticker symbol on the OTCQX will not. Cypress will issue a news release announcing the date that trading under the new name, symbol, and CUSIP number will commence. We think the new name will help increase awareness among investors given that it more closely identifies the company with its mission. 

Feasibility study expected by the end of 2Q 2023. The feasibility study for the Clayton Valley Lithium project is advancing on schedule with completion anticipated by mid-year. On-site infrastructure designs, including mine, processing plant and tailings, and waste storage facilities are completed. Cost and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Efforts are being made to initiate federal, state, and local permitting for the project, along with an evaluation of associated infrastructure.


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Release – Cypress Development to Change Name To Century Lithium Corp

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January 24, 2023

January 24, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) announces that the Board of Directors has approved a name change of the Company from Cypress Development Corp. to Century Lithium Corp.

The Company will also change the ticker symbol upon which it trades on the TSX Venture Exchange (“TSXV”).  The Company will issue a further news release announcing the date that trading under the new name, symbol and CUSIP number will commence.  The name change remains subject to TSXV approval.

About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.

WILLIAM WILLOUGHBY, PhD., PE

President & Chief Executive Officer

For further information, please contact:

Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.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.

Release – Cypress Development Provides Progress Update on Feasibility Study And Lithium Extraction Facility

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January 23, 2023

January 23, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to provide a progress update on its ongoing Feasibility Study being conducted on the Company’s Clayton Valley Lithium Project (“Project”) near Silver Peak, Nevada, and on its operational Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada.

Highlights

  • The Pilot Plant continues to function as designed, working to optimize the Project’s flowsheet. The Plant leaches lithium-bearing claystone material, through to the production of concentrated lithium solution using the Company’s Direct Lithium Extraction (“DLE”) process.
  • Additional piloting runs will take place at Saltworks Technologies, Inc. following the successful production of lithium carbonate (“Li2CO3”) from the Pilot Plant’s concentrated lithium solutions.
  • The Project’s Feasibility Study is on schedule and is continuing to advance toward an anticipated second quarter 2023 completion.
  • Arrangements are proceeding to initiate federal, state, and local permitting for the Project, with compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.
  • Ahead of the Feasibility Study and permitting, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

Pilot Plant

Cypress continues to conduct testing at its Pilot Plant with the support of del Sol Refining, Inc. Since its start-up, the Pilot Plant has operated in 28 cycles of continuous 24/7 operation, with minimal down-time and maintenance matters. The test work was conducted using multiple configurations and equipment to best replicate the Project flowsheet. In the testing to date, nearly 10,000 samples of solutions, solids and precipitates have been collected and analyzed. Other data collection, including recording of flow rates and physical conditions at key sample points throughout the Pilot Plant, has been conducted, with particular attention to the DLE section of the Pilot Plant to develop the Project’s mass-balance calculations, and to finalize the flowsheet for the Feasibility Study.

Pilot Plant testing has achieved targets in most areas, including operating with 100% recycled solutions. Specific challenges were addressed with sufficient results to aid in the completion of the Feasibility Study. Further testing in 2023 is planned to confirm the overall process, continue to demonstrate the flowsheet, and produce samples of Li2CO3. Additional 1000-liter lots of concentrated lithium solution from the DLE section of the Pilot Plant will be shipped to Saltworks Technologies, Inc, in Richmond, B.C., Canada by month end.

2023 plans for the Pilot Plant include testing alternate reagents and equipment, which may include identification of potential by-products, and ways to enhance impurity removal and the DLE process area. Additional space within the Pilot Plant building has been prepared for this work.

Feasibility Study

The Feasibility Study is advancing on schedule, with completion anticipated by mid-year. On-site infrastructure designs, including, mine, processing plant, and tailings and waste storage facilities are completed. Cost estimating and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Completion of the Feasibility Study will then await integration of the design and cost estimates for the acid plant underway by thyssenkrupp nucera.

In addition, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.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.

Cypress Development (CYDVF) – Nevada Claystone Projects Could Be a Key Component of the EV Battery Supply Chain


Tuesday, January 17, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Lithium from Nevada claystone. Cypress Development is advancing its 100%-owned Clayton Valley Lithium Project in Nevada. Cypress intends to mine claystone, produce a high-grade lithium concentrate solution using a chloride leach process, and apply a licensed direct lithium extraction process based on ion-exchange to produce lithium carbonate suitable for battery producers supplying the growing electric vehicle and battery storage market.

Funding from the U.S. Department of Energy. The U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) recently offered a conditional commitment to lend up to US$700 million to develop Ioneer’s (Nasdaq: IONR) Rhyolite Ridge lithium-boron mining project in Nevada. In our view, the loan reflects the U.S. government’s commitment to assure domestic supplies of lithium and other critical minerals for the growing electric vehicle battery market.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Cypress Development (CYDVF) – Details Emerge as the Clayton Valley Feasibility Study Takes Shape


Friday, October 28, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Another box checked. Cypress Development selected thyssenkrupp nucera USA, Inc. to provide the design and engineering for the chlor-alkali plant as it advances its Clayton Valley Lithium Project in Nevada. The chlor-alkali plant will enable the project to produce two key reagents, hydrochloric acid and sodium hydroxide, required for processing lithium-bearing claystone through to a lithium carbonate product. The company’s selection of thyssenkrupp nucera represents another step towards completion of the feasibility study in the second quarter of 2023.

Feasibility study is taking shape. Work on the feasibility study commenced in March under the direction of Wood PLC and is advancing as planned. Wood, along with support from others, has completed or is nearing completion of several items, including resource and reserve estimates, mine plan, processing plant design, and tailings and waste storage facilities.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Cypress Development Engages Thyssenkrupp Nucera For Design And Engineering Of Chlor-Alkali Plant In Feasibility Study

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October 27, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to announce the selection of thyssenkrupp nucera USA, Inc. (thyssenkrupp nucera) to provide the design and engineering for the chlor-alkali plant as part of the ongoing Feasibility Study on the Company’s Clayton Valley Lithium Project in Nevada, USA (Project). The chlor-alkali plant is an essential component which will allow the Project to self-generate two key reagents required for processing lithium-bearing claystone through to a Li2CO3 (lithium carbonate) product.

“The Company’s selection of thyssenkrupp nucera is another important step towards completion of the Feasibility Study for the Project’s production of lithium carbonate. Their experience and proven track record as an electrolysis technology company with worldwide knowledge in the chlor-alkali field will add to our Feasibility Study” stated Bill Willoughby, President, and CEO of Cypress Development.

thyssenkrupp nucera USA Inc. is the U.S. subsidiary of thyssenkrupp nucera AG & Co. KGaA, an international company that offers world-leading technologies for high-efficiency electrolysis plants, which includes chlor-alkali electrolysis, HCl electrolysis, and alkaline water electrolysis. thyssenkrupp nucera’s scope in the chlorine electrolysis business includes the supply and services around engineering, supply of all major plant equipment, supervision of the erection and commissioning activities, training of the operating personnel as well as holistic 360-degree service solutions for the entire lifecycle of a plant.

thyssenkrupp nucera’s scope of work will include the development of a facility concept for treatment of the recovered brine stream from Cypress’ process and ensure compatibility with the membrane electrolysis cells of a chlor-alkali plant. Standardized and proprietary e-BiTACv7 BiPolar type membrane cell electrolyzers from thyssenkrupp nucera serve as the heart of the chlor-alkali plant to generate the key reagents HCl (hydrochloric acid) and NaOH (sodium hydroxide) required to process the lithium ore. The NaCl (sodium chloride) and H2O (water) molecules present in the recovered brine are electrolyzed to produce Cl2 (chlorine), H2 (hydrogen) and the sodium hydroxide, where then outside of the cells, the chlorine and hydrogen molecules are combined to produce hydrochloric acid.

Feasibility Study Update

The Company’s Feasibility Study on the Project commenced in March 2022 under the direction of Wood PLC (Wood), with support from Global Resource Engineers, Continental Metallurgical Services, WSP USA Environment & Infrastructure Inc., and Cypress.

Progress on the Feasibility Study is advancing as planned. Wood and the supporting teams have completed or are near completion of several key items, including resource and reserve estimates, mine plan, processing plant design, and tailings and waste storage facilities.

Positive results from test work conducted at Saltworks Technologies Inc. (Saltworks) (see news release dated September 19, 2022), where high purity lithium carbonate was made at Saltworks from concentrated lithium solutions produced at Cypress’ Lithium Extraction Facility in Nevada.

Saltworks has since completed a second phase of testing which examined the production of lithium from the blowdown-brine stream collected during the lithium carbonate concentration in the first stage of testing. We are pleased to report these results are positive and confirm the viability of an increase in lithium recovery via re-concentration of the blowdown-brine and production of additional lithium carbonate solids. Results from third-party laboratory analysis are pending for lithium carbonate quality obtained during this test. This step has the potential to significantly reduce the volume required to be recycled back to the upstream direct lithium recovery (DLE) plant and reduce size and capital cost of the DLE plant.

Based on the progress and results from Saltworks, Cypress is focusing on lithium carbonate as the end-product for the Feasibility Study and has engaged Saltworks to provide the engineering and design for the final steps in producing lithium carbonate. Based on timelines for the major components and cost analysis, as well as to allow thyssenkrupp nucera sufficient time to complete its design and optimization studies, the Company expects the Feasibility Study to be completed in the second quarter of 2023.

Qualified Person

Todd Fayram, MMSA-QP, is the qualified person as defined by National Instrument 43-101 and has approved of the technical information in this release.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.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.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Cypress Development (CYDVF) – Clayton Valley Takes a Leap Forward


Tuesday, September 20, 2022

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Proving it can be done. Cypress achieved a major milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the company’s Clayton Valley Lithium Project in Nevada. The Li2CO3 was made using intermediate concentrated lithium solution, or ~2,200 parts per million lithium, produced at Cypress’ lithium extraction facility. Following direct lithium extraction (DLE) at the pilot plant, Saltworks Technologies completed the processing system design and pilot work to make the battery grade Li2CO3. Cypress has engaged Saltworks to integrate their designs into Cypress’ pilot plant program.

Suitable for use in electric vehicle batteries. The samples produced surpass minimum industry requirements for standard battery grade, or >99.5% Li2CO3, used in electronics and achieved industry requirements for enhanced battery grade Li2CO3 for use in electric vehicle batteries. Independent analyses of product samples were completed by SGS Canada Inc.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Cypress Development Confirms Production Of Battery Grade Lithium Carbonate

Research, News, and Market Data on CYDVF

September 19, 2022

September 19, 2022 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (Cypress or Company) is pleased to report it has achieved a significant milestone with the production of 99.94% lithium carbonate (Li2CO3) made from lithium-bearing claystone from the Company’s 100%-owned Clayton Valley Lithium Project in Nevada, USA (Project). The Li2CO3 was derived from the intermediate concentrated lithium solution produced at Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada (Pilot Plant). Following direct lithium extraction (DLE) at the Plant, Saltworks Technologies Inc. (Saltworks) completed the processing system design and pilot work to make the Li2CO3.

“These are excellent results for the initial iteration of testing and will be incorporated into our on-going Feasibility Study on the Project” stated Bill Willoughby, Cypress President, and CEO. “We are pleased to receive comprehensive assays validating the extraction process we have designed for our Project. Exceeding the standard for battery grade lithium carbonate checks-off an important goal for the Company and its further development of the Project.”

Cypress executed pilot operations through to production of ‘three nines’ Li2CO3 that exceeds the standard battery grade specifications below. All processing was completed with material from the Company’s Project in an end-to-end automated pilot plant that represents full scale production. Independent analyses of product samples were completed by SGS Canada Inc., with the results showing greater than 99.9 weight-percent (wt%) purity in a scalable representative process.

CONSTITUENTCONCENTRATIONBATTERY GRADE SPEC – LI2CO3CYPRESS LI2CO3
Li2CO3wt%>99.5%99.94%
H2Owt%<0.5%0.01%
Nawt%<0.05%0.02%
Cawt%<0.04%0.02%
AlWppm<106
CuWppm<5<4
NiWppm<6<5
ZnWppm<5<5
Clwt%<0.01%0.008%

Notes: wt% (weight percent), wppm (weight parts per million)

“Our team is pleased with the outcome at Saltworks, and their support of our Project,” stated Bill Willoughby. “Cypress has engaged Saltworks to integrate their designs into our pilot plant program and look forward to their continued work on the Project.”

The final product surpasses industry requirements for standard battery grade Li2CO3 and has achieved industry requirements for enhanced battery grade Li2CO3 for xEV use. It is common practice for lithium battery manufactures to have specific requirements for Li2CO3 used in their products dependant on application.

Qualified Person
Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.

About Cypress Development Corp
Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.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.

Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as 
“expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.