Name of the Project
Clayton Valley lithium project.

Location
The project is located in Esmeralda County, Nevada, in the US.

Project Owner/s
Cypress Development Corp.

Project Description
A positive prefeasibility study (PFS) on the Clayton Valley project envisages a mine with an average production of 15 000 t/d to produce 27 400 t/y lithium carbonate equivalent over a mine life of more than 40 years.

Production is based on probable mineral reserves of 222-million tonnes averaging 1 141 parts per million (ppm) lithium carbonate equivalent.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PFS estimates an after-tax net present value, at an 8% discount rate, of $1.05-billion and an internal rate of return of 25.8%, based on a price of $9 500/t for lithium carbonate.

Capital Expenditure
Preproduction capital is estimated at $493-million.

Planned Start/End Date
Not stated.

Latest Developments
Cypress is evaluating alternatives for the procurement of sample material and the location for the plant recommended in the PFS.

The company is also overseeing ongoing baseline environmental studies at the project and is engaged in sourcing funds for the pilot plant.

Meanwhile, Cypress announced an updated mineral resource in August.

The mineral resource estimate includes additional assay data from four drill holes received in June 2020 and was developed using the project's entire contiguous property boundary.

Measured resources have increased to 574.1-million tonnes averaging 1 081 (ppm) lithium or 3.3-million tonnes lithium carbonate equivalent.

Indicated resources have increased to 355.6-million tonnes averaging 1 032 ppm lithium or two-million tonnes lithium carbonate equivalent.

Total measured and indicated resources are estimated at 929.6-million tonnes averaging 1 062 ppm lithium or 5.2-million tonnes lithium carbonate equivalent.

Key Contracts and Suppliers
Continental Metallurgical Services (PFS) and Global Resource Engineering (mineral resources estimate).

Contact Details for Project Information
Cypress Development Corp, tel +1 604 639 3851 or email info@cypressdevelopmentcorp.com.