Daughter Hole Started For First Hole on Cypress/Skyharbour Joint Venture

The first drill hole on the Broulan Reef project, an 80%/20% joint venture between Cypress Development Corp. and Skyharbour Resources Ltd., has been deepened. The hole has now been sunk to a depth of 2742 metres. The core from the hole, labelled BR08-02, is being split and analyzed. The first of several daughter holes is being prepared, and assays of the core already extracted from BR08-02 are pending. More details, as well as a capsule geology of the property, are in the news release.

The stock of Cypress Development opened up higher, after the news was released, at 29 cents for a gain of 1.5 cents. Since then, it drifted downwards to its Friday closing price before rebounding half a cent to 28 cents, as of 10:25 AM ET. Shyharbour didn't fare as well: it opened down half a cent from Friday's close, and stayed there until about 10:13 AM ET. As of 10:25, it's even on the day.

The Google Finance page for Cypress Development is here, and the one for Skyharbour Resources is here.

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