Cypress president and CEO Bill Willoughby said the results from the "initial iteration" of testing will be incorporated into the company's ongoing feasibility study on the project.
"We are pleased to receive comprehensive assays validating the extraction process we have designed for our project," Willoughby said.
The production was of 99.94% Li2CO3.
"Exceeding the standard for battery grade lithium carbonate checks-off an important goal for the company and its further development of the project," he said.
The company's share price rocketed by 25% day on day to C$1.40 (US$1.06) on 19 September, giving Cypress a market capitalisation of C$205.14 million.