Cypress Development Corp (TSXV: CYP) reported this morning that it has completed the assembly of the pilot plant for its 100%-owned Clayton Valley lithium project in Nevada. The firm is now working on starting the test extraction of lithium from the project’s sample material within the next week.
“The completion of the pilot plant represents a significant milestone and marks the culmination of months of work by Cypress, our consultants, and contractors,” said Cypress Development CEO Bill Willoughby.
The company relayed that the objective of the pilot plant is to confirm the extraction of lithium from the project as outlined by the pre-feasibility study announced in August 2020.
“While the ultimate goal is to demonstrate the production of lithium hydroxide from our claystone resource on a larger scale, the results from the various areas within the plant…will provide the data necessary to carry the project forward to the feasibility level,” Willoughby added.
The pilot plant is located within a metallurgical facility 100 miles south of the Nevada project. The firm previously reported that the plant will utilize chloride-based leaching combined with the Chemionex—Lionex process for direct lithium extraction.
Cypress Development last traded at $1.54 on the TSX Venture.
Information for this briefing was found via Sedar and Cypress Developments. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.