Saturday, November 14, 2009

Canadian Stock Research - Cypress Development Corp

Canadian Stock Research News Update:

Cypress & Skyharbour Provide Drilling Update on Broulan Reef Bruce Channel / Red Lake Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Cypress Development Corp. (TSX VENTURE:CYP) (FRANKFURT:C1Z) and Skyharbour Resources Ltd. (TSX VENTURE:SYH) announce an update regarding their deep diamond drilling program on their Cypress (80%) Skyharbour (20%) owned Broulan Reef gold project in Red Lake, northwestern Ontario. The Broulan Reef property is situated along the prolific Red Lake trend, west of Goldcorp Inc.'s operating Red Lake Mines Complex and immediately southwest of the Goldcorp's Cochenour / Bruce Channel deposit.

Bruce Channel Red Lake, Ontario Map:

Drill Hole BR09-1 was stopped at 2786 metres due to insurmountable technical difficulties. This hole was designed to test for the presence on the Broulan Reef property of the major north-south shear / breccia system that hosts the Bruce Channel deposit of Goldcorp.

The Bruce Channel deposit is located some 500 metres north of the north boundary of the Broulan Reef property. Additional intercepts of this zone were encountered in the FN series of holes some 250 metres north of the Broulan Reef property.

Goldcorp is currently proceeding with plans to develop the Cochenour / Bruce Channel deposit. There is little doubt that the Cochenour / Bruce Channel deposit will provide a significant component of the mill feed at the Red Lake mine mill complex within the next few years. The Couchenour shaft is being dewatered, the pilot hole for a winze has been completed and work on a high speed tram between the Cochenour / Bruce Channel deposit and their Red Lake mine-mill complex has started.

The generally 'high-grade' nature of the gold in the Bruce Channel deposit and the proximity of planned underground workings make any deposits on the Broulan Reef property developable.
This Canadian Stock Research news update comes courtesy of StockResearchPortal. To view the complete version of this news release visit Stock Research Portal