CALGARY, Alberta, Jan. 21, 2019 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (VM.V) (the “Company” or “Voyageur”) is pleased to announce that it has applied for its bulk sample permit from the British Columbia Ministry of Mines.
The 10,000 tonne bulk sample will be used for a major part of Voyageur’s feasibility study. The barite recovered from the bulk sample will be allocated to Voyageur’s barium contrast suspension manufacturing joint venture company, ImagingX Pharmaceuticals Inc. (“ImagingX”).
Voyageur, through ImagingX, is formulating, naming, and preparing applications for permitting for that company’s first sales of high purity barite products into the pharmaceutical barium contrast suspension market.
This milestone will provide Voyageur with a revenue stream from its 100% owned Frances Creek barium project. The bulk sample will form a basis to:
- complete the feasibility study.
- move the Frances Creek asset forward as a full production quarry.
- establish an asset value on the Frances Creek deposit based on revenue generated by ImagingX.
- to establish reserves.
Voyageur has been successfully implementing its strategy to establish value for it’s Frances Creek barite deposit by creating a JV with established pharmaceutical manufacturing company Chief Medical Supply Ltd., which will allow Voyageur to sell its barite at one of the highest price points in the barium sulfate market.
About Voyageur and ImagingX Pharmaceuticals Inc.
ImagingX is a 50:50 revenue sharing joint venture with Chief Medical Supply Ltd. who will manufacture barium contrast suspension products for the health care industry worldwide. Having access to a rare high purity barium sulfate deposit should allow ImagingX to have the lowest cost barium contrast product available for the current market place. The joint venture’s current target is for initial sales in Q2 2019 and 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 eastern market.
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, Jordan, Qatar, Kuwait, UAE, Malaysia, Singapore, Hong Kong, China, Japan, Philippines, Brunei, South Korea, Australia and New Zealand.
About Chief Medical Supply Ltd. (“CMS”):
CMS 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, CMS is able to supply products coast-to-coast. CM has both drug and medical device establishment licenses issued by Health Canada.
CMS has the ability to turnkey production of ImagingX barium contrast products in their Health Canada and FDA approved manufacturing facilities.
About Voyageur Minerals Ltd.
Voyageur is a Calgary based company which owns a 100% interest in three barium sulfate or barite deposits including two properties suitable in grade for the industrial barite market place, and interests in two high grade lithium brine project 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 ||Steven R. Livingston, VP Finance|
|Cell (403) 383-8588 ||Cell (403) 471-1659|
|Office (587)-779-6166 ||Office (587)-779-6166|
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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.