VANCOUVER, British Columbia, Sept. 23, 2022 (GLOBE NEWSWIRE) — Voyageur Pharmaceuticals (TSXV:VM) (OTCPink:VYYRF) has submitted a discover of labor with the BC Ministry of Mines, for the removing of two,000 tonnes of barium sulfate from its Frances Creek Project. The Frances Creek venture is without doubt one of the firm’s three 100% owned initiatives in British Columbia with grade appropriate for the pharmaceutical barite market.
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Upon approval from the BC Ministry of Mines, Voyageur will excavate small, 2-metre-wide floor trenches, to take away 1,000 tonnes of barite from the A zone and 1,000 tonnes from the B zone. This tonnage is anticipated to permit for full testing and modifications to the brand new barium energetic pharmaceutical ingredient or API pilot plant, that the corporate plans to assemble, with building tentatively scheduled to start in 2023.
Upon completion of this work program, a discover of labor for a Small Quarry can be submitted to the BC Ministry of Mines, with plans for full manufacturing in 2024.
With the two,000 tonnes anticipated to be a high-grade pattern with low waste, Voyageur anticipates extracting 1,000 to 1,200 tonnes of excessive purity barium sulfate from this pattern, for use in barium distinction manufacturing.
To put the quantity in perspective, 1,000 tonnes of pharmaceutical grade barium sulfate, can create:
- Approximately 111,111,000 bottles of SmoothX smoothie distinction media, or
- Approximately 3,000,000 bottles of HDX powdered distinction media
Contrast supplies, which can be taken orally or rectally, are used to enhance photos of the within of the physique serving to to differentiate or “contrast” chosen areas of the physique from surrounding tissue permitting the radiologist to differentiate regular from irregular circumstances.
SGS Canada accomplished a Preliminary Economic Assessment and assigned a NPV of $344 million with an IRR of 137%, to the Frances Creek venture.
The firm is designing a brand new barium API pilot plant, with the purpose of lowering the capital required, from the $36 million over three years, acknowledged within the PEA. Voyageur’s plan is to construct a decrease value manufacturing facility, quick observe manufacturing, course of the two,000 tonnes of barium sulfate and full full feasibility primarily based on dwell actual time gross sales of product. This is anticipated to permit the Frances Creek venture to be valued with a NI 43-101 outlined reserve.
Voyageur is transferring ahead with its business plan of changing into the one totally built-in firm within the radiology medical subject, by controlling all major enter prices below the motto of: “From the Earth to the Bottle”.
The shares are at the moment buying and selling at $0.105. For extra data, please go to www.VoyageurPharmaceuticals.ca, contact Brent Willis, President and CEO, by e-mail at firstname.lastname@example.org, or Al Deslauriers, CFO, at email@example.com.
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