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Gold/Mining/Energy : Cypress Min. (CYP.V) Diamond Fields clone?
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To: 4TNiner who wrote (577)8/31/2000 8:37:54 AM
From: 4TNiner  Read Replies (1) of 595
 
Cypress Development Corp CYP
Shares issued 3,758,460 Aug 30 close $0.42
Wed 30 Aug 2000 News Release
Also Mid-North Resources Ltd (MNU)
Mr. Donald Huston and Mr. Rob Dunlop report
Phase III of the work program on Cypress and Mid-North's joint venture
Gunman project in northeast Nevada is scheduled to start on or about Sept.
11, 2000. Phase III will consist of 15,000 feet of drilling with the
majority of the footage drilled being reverse circulation.
The joint venture intends to diamond drill a portion of the footage to help
delineate structure and geology. The drilling is intended to expand the
recently discovered zinc/silver mineralized zones which are geologically
open in all directions, and will also test new zones on the property. With
previous drill results that have been published, the joint venture partners
believe a 15,000-foot drill program ($300,000) is well warranted. Phase III
will take up to two months to complete.
The joint venture companies have recently increased their land package size
from 120 claims to 240 claims (6,000 acres approximately). The Gunman
property is ideally located in northeast Nevada within close proximity of
power, water and all-weather roads.
All site and drill permits have now been received from the Bureau of Land
Management in Nevada, allowing the Cypress/Mid-North joint venture to begin
drilling.
Cypress and Mid-North may earn a 100-per-cent interest (50 per cent each)
in the property by meeting specific expenditure targets.
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