CALGARY, Alberta, Feb. 06, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (TSX.V:VM) (the “Company” or “Voyageur”) is pleased to announce that it has sent barite ore for testing to SGS Canada Inc. and to Allgaier Process Technology Inc. (“Allgaier”).
A successful test using Allgaier’s density separator would enable Voyageur to gravity separate barite from the ore using air. This would eliminate the use of tailings ponds and no water will be required on site. The barite would be concentrated using air and gravity, and this concentrate would then be shipped to Voyageur’s 12,000 tonne per year mini plant for further upgrading.
Testing has commenced to complete the pre-feasibility study. These tests will determine the optimum gravity separation circuit to process the barite ore and to determine the most efficient methods to produce a high purity pharmaceutical grade barium sulfate for Voyageur’s joint venture company, ImagingX Pharmaceuticals Inc. (“ImagingX”)
ImagingX is in the process of completing Health Canada registration applications on several new barium contrast products. ImagingX will begin production of barium contrast products upon Health Canada registration.
ImagingX estimates that sales of barium contrast can commence in Q3 of 2019.
Upon completion of the ongoing feasibility work and sales of barite through Voyageur’s joint venture, Voyageur will be poised to mine 10,000 tonnes of mineralization in 2019. if the economics of the project prove up, a feasibility study will be completed and the application for the quarry permit for full production will be submitted.
About ImagingX Pharmaceuticals Inc.
ImagingX is a 50:50 revenue sharing joint venture with Chief Medical Supply Ltd. The company will be manufacturing barium contrast suspension products for the health care industry worldwide. Owning a rare high purity barium sulfate deposit should allow Voyageur, through its joint venture company, ImagingX, to have the lowest cost barium contrast product available for the current market place. The joint venture’s target for initial sales is Q3 2019 and it plans on entering the market with a highly competitive product.
Initial sales of the product will focus on the Canadian market. After sales into the Canadian market have commenced, the joint venture will apply for certification and sales into Europe and the rest of the world.
The joint venture plans on targeting markets with government run health care systems and private clinics. The following markets will be pursued in the very near term:
| North America, Europe, Brazil, Argentina, Costa Rica, Panama, Colombia, South Africa, Russia, Israel, Turkey, Jordon, Qatar, Kuwait, UEA, Malaysia, Singapore, Hong Kong, China, Japan, Philippines, Brunei, South Korea, Australia and New Zealand. |
About Chief Medical Supplies Ltd. (“Chief”)
Chief provides high quality, competitively priced pharmaceuticals and hemodialysis products to pharmacies and hospitals across Canada. Operating from both its 33,000 square-foot plant in Calgary, Alberta and its 90,000 square-foot facility in Mississauga, Ontario, Chief has both drug and medical device establishment licenses issued by Health Canada and is currently in the application phase with the FDA to market and sell Chief’s products in the United States.
Chief has the ability to turnkey production of ImagingX barium contrast products in their Health Canada manufacturing facilities.
About Voyageur Minerals Ltd. (“Voyageur”)
Voyageur is a Calgary based company which owns 100% interest in three barium sulfate ("Barite") deposits including two properties suitable in grade for the industrial barite market place, and interests in a two high grade lithium brine projects in Utah, USA.
Voyageur's business plan is to develop its barite deposit at Frances Creek, BC, Canada, for near term cash flow, while it continues exploration for critical and strategic minerals. The Frances Creek project is moving forward to manufacture pharmaceutical grade barium sulfate and high purity Blanc fixe barium sulfate for the paint and plastic markets.
The Company’s qualified person as defined by NI 43-101, Mr. Brad Willis, VP Exploration, has reviewed this news release and approved it.
For further information, please contact:
| John Rucci, CEO Cell (403) 383-8588 jrucci@voyageurminerals.ca | Steven R. Livingston, V.P. Finance Cell (403) 471-1659 steve@voyageurminerals.ca |
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements relating to the Qualifying Transaction, including statements regarding the acquisition of future assets, the discovery and commercialization of commercial quantities of industrial minerals, the successful commercialization of the Company’s assets, expected operational activities, other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the assets do not provide commercial quantities or grades of marketable minerals, that even if they do contain commercial quantities of marketable minerals that the Company will not be able to economically produce such discoveries, the existence of commercial grades of commercial minerals, timing of obtaining required approvals, state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.