Cypress Development (CYP.V) isn’t wasting any time since the company raised C$19.5M in a bought deal financing at C$1.25 per unit. The company has now initiated the selection and purchasing of the materials needed to build and operate a pilot plant to further de-risk the Clayton Valley lithium project in Nevada.
The pilot plant will have a capacity of one tonne per day and processing the material from Clayton Valley will allow the company to see if the recovery rates and the consumption of reagents is in line with bench scale testing. The pilot plant will be built at an existing metallurgical facility south of Beatty and as Cypress Development is guiding for the plant to be assembled by the end of the current quarter, we expect the metallurgical test work to be in full swing in Q3. While a sulfate-based approach to recover the lithium from the clay remains a solid plan-B, the pilot plant will focus on the chloride leaching process.
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