{"id":1185822,"date":"2020-05-21T15:43:45","date_gmt":"2020-05-21T20:43:45","guid":{"rendered":"https:\/\/www.mining.com\/?p=1024629"},"modified":"2020-05-21T15:43:45","modified_gmt":"2020-05-21T20:43:45","slug":"cypress-releases-positive-pfs-for-nevada-lithium-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1185822","title":{"rendered":"Cypress releases positive PFS for Nevada lithium project"},"content":{"rendered":"<p>With an initial $493-million investment,&nbsp;Cypress Development\u2018s Clayton Valley lithium project in Nevada could produce 27,400 tonnes lithium carbonate equivalent (LCE) per year over a 40-year mine life, according to a prefeasibility study released this week.<\/p>\n<div class='ad-slot' id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {    googletag.display('div-gpt-ad-1561499308230-0');    googletag.pubads().addEventListener('slotRenderEnded', function (event) {        if (event.isEmpty) {            var id = event.slot.getSlotElementId();            var x = document.getElementById(id);            if(x == null) return;            if (x.parentElement.classList.contains('ad-slot')) {                x.parentElement.style.display = 'none';            }\t\t\t\t        }    });});<\/script><\/div>\n<p>At an 8% discount rate, the project has an after-tax net present value of $1.1 billion, an internal rate of return of 25.8%, and a payback period of 4.4 years.<\/p>\n<p>\u201cThis PFS is a major milestone for Cypress,\u201d said Cypress CEO Bill Willoughby in a release. <\/p>\n<p>\u201cThese positive results take us closer to our goal of developing a world-class lithium deposit. Cypress\u2019s land position and resources afford us the opportunity for a long-life project with low operating costs and potential to be a significant source of lithium for the United States.\u201d<\/p>\n<p>An average LCE price of $9,500 per tonne was used in the study, which projects a low cash cost of $3,329 per tonne LCE.<\/p>\n<p>Reserves at Clayton Valley are contained in a leachable lithium-bearing claystone. <\/p>\n<p>The deposit is large, at surface, and flat-lying, which will allow for a very low strip ratio (0.15:1) and means no drilling or blasting is necessary in mining. The study envisions a mining rate of 15,000 t\/d.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The project is located next to North America\u2019s only lithium brine operation, the Albemarle Silver Peak mine. <\/p>\n<\/blockquote>\n<\/figure>\n<p>The project is located next to North America\u2019s only lithium brine operation, the Albemarle Silver Peak mine.<\/p>\n<p>The lithium in the deposit is amenable to leaching with dilute sulphuric acid leach followed by filtration, solution purification, concentration, and electrolysis to produce lithium hydroxide. <\/p>\n<p>Cypress reports that metallurgical leach tests have demonstrated an average of 86.5% extraction of lithium into solution and 126.5 kg\/t for acid consumption.<\/p>\n<p>Metallurgical testing indicates low cost processing can be achieved by leaching with low acid consumption and high lithium recovery. <\/p>\n<p>Self-generated power from a 2,500 t\/d acid plant is included in the project\u2019s costs.<\/p>\n<p>The Vancouver-based junior says testing to recover the lithium from solution has been successful, with the production of a concentrated lithium solution suitable for producing lithium hydroxide.<\/p>\n<p>Before moving to the feasibility and permitting stage, the next step for Cypress will be a pilot plant study, estimated to cost US$6.75 million.<\/p>\n<p>Production figures are based on a probable reserve of 222 million tonnes grading 1,141 ppm lithium for 1.4 million tonnes LCE, calculated at a 900 ppm lithium cutoff grade.<\/p>\n<p>Midday Thursday, Cypress\u2019 stock was up 2.4% on the TSXV. The company has a C$18.9 million market capitalization.<\/p>\n<p><em>(This article first appeared in the&nbsp;<\/em><a rel=\"noreferrer noopener\" href=\"http:\/\/www.canadianminingjournal.com\/\" ><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Project could produce 27,400 tonnes lithium carbonate equivalent per year, according to a prefeasibility study.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1016,369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1185822"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1185822"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1185822\/revisions"}],"predecessor-version":[{"id":1185841,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1185822\/revisions\/1185841"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1185822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1185822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1185822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}