Cypress Development Corp (TSX-V:CYP, OTCQX:CYDVF) announced the ongoing feasibility study being conducted at its Clayton Valley lithium project and operational lithium extraction facility is on schedule and on pace to be completed in the second quarter.
The company’s pilot plant is functioning as designed to leach lithium-bearing claystone material and produce concentrated lithium solution using its direct lithium extraction (DLE) process.
Since startup, the plant has operated 28 cycles of continuous 24/7 operation with the support of Sol Refining, with minimal downtime. Additional piloting runs will take place at Saltworks Technologies Inc following the successful production of lithium carbonate from the pilot plant's concentrated lithium solutions, the company said.
READ: Cypress Development Corp is just a few months away from delivering a bankable feasibility study on its Clayton Valley lithium project
Additional 1000-liter lots of concentrated lithium solution from the DLE section of the pilot plant will be shipped to Saltworks in Richmond, British Columbia by the end of January, the company said.
Cypress is working to initiate federal, state and local permitting for the project, which requires the compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.
The company is also assessing personnel needs and future project financing opportunities and structures, which may include government grants and loans.
Cypress Development is a Canada-based advanced-stage lithium company, focused on developing its wholly-owned Clayton Valley lithium project in Nevada.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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