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Cypress Development (TSXV:CYP,OTCQX:CYDVF) CEO Dr. Bill Willoughby discussed the Clayton Valley #lithium project in #Nevada and the company’s focus on strategic development to facilitate a domestic supply chain.
Lithium demand continues to grow, as the United States declares it a critical mineral for its essential value in the production of batteries. As the world becomes increasingly electrified, the need for a stable lithium supply increases proportionately.
Cypress Development’s primary focus is on its Clayton Valley project in Nevada, adjacent to North America’s only lithium brine operation, run by Albemarle (NYSE:ALB).
Dr. Willoughby shared, “Northern Nevada has a number of these very large lithium deposits. Ours happens to have 1.3 billion tons of lithium-bearing clay in resources, and about 200 million tons in our reserves.”
The Cypress Development CEO acknowledged both the value of lithium resources and the challenges of converting it into reserves — something Dr. Willoughby says it requires more than mining, stating, “We’ve developed a unique leaching process which we added to the Clayton Valley project. The environment holds chloride brine and a chloride water system. We are using an outflow alkaline leach that should be very productive with that clay.”
Dr. Willoughby also said, “We have a direct lithium extraction process — a DLP process — based on ion exchange that we acquired last year. We evaluated ways to pull out the lithium, and settled on Onyx Chemical in Ontario that’s sustainable and good for the environment.”
With the electrification movement, environmental issues have significant impact. The arid Nevada environment requires companies to use resources consciously, including an essential part of lithium production: water.
On this note, Dr. Whlloughby says, “We acquired a water right that should give us sufficient water to run our process and our design basis. For Clayton Valley, the water resource basins are fully allocated. So we’re in an excellent position now strategically, having acquired this water right.”
To continue with its sustainable, domestic efforts, Cypress Development created a pilot plant near the Amarosa Valley, a 12,000-square-foot facility with easy road access. The company’s CEO states, “We’re working towards the end point where we are producing a lithium product.”
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