InvestmentPitch media video describes Voyageur Pharmaceuticals’ notice of work with British Columbia’s Ministry of Mines to remove 2,000 tons of barium sulfate from its Frances Creek project, The Canadian Business Journal

VANCOUVER, British Columbia, Sept. 23, 2022 (GLOBE NEWSWIRE) — Voyager Pharmaceuticals (TSXV:VM) (OTCPink:VYYRF) has notified the British Columbia Ministry of Mines of an operation to remove 2,000 tons of barium sulfate submitted. The Francis Creek Project. The Frances Creek project is one of three of his 100% owned projects in British Columbia and has grades suitable for the pharmaceutical barite market.

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With approval from the BC Ministry of Mines, Voyageur will excavate a small two-meter-wide surface trench to remove 1,000 tons of barite from the A zone and 1,000 tons from the B zone. This tonnage is expected to allow for full testing and modification of any new barium drug substance or API pilot plant the company plans to build, with construction tentatively scheduled to begin in 2023.

Upon completion of this work program, a work notice for the small quarry will be submitted to the BC Ministry of Mines, with full production expected in 2024.

Since 2,000 tons is expected to be a low-waste, high-grade sample, Voyageur anticipates that 1,000-1,200 tons of high-purity barium sulfate can be extracted from this sample and used in the production of barium contrast media. increase.

To put the numbers into perspective, 1,000 tons of pharmaceutical grade barium sulfate produces:

• Approximately 111,111,000 SmoothX Smoothie Contrast Agents, or
• Approximately 3 million HDX powder contrast agents

Contrast agents, taken orally or rectally, are used to improve images inside the body, separating selected areas of the body from surrounding tissue so that radiologists can distinguish between normal and abnormal conditions. It helps to distinguish or “contrast”.

SGS Canada has completed a preliminary economic evaluation and has allocated an NPV of $344 million at an IRR of 137% to the Frances Creek project.

The company is designing a new barium API pilot plant with the goal of reducing the required capital from the three years listed in the PEA to $36 million. Voyageur’s plan is to build a low-cost production facility, move production forward quickly, process 2,000 tons of barium sulfate, and achieve full feasibility based on live real-time sales of the product. This is expected to allow the Francis Creek Project to be valued at his NI 43-101 definition reserves.

With the motto “From the Earth to the Bottle”, Voyageur pursues a business plan to become the only fully integrated company in the radiology field by controlling all primary input costs.

The stock is currently trading at $0.105. For more information, visit www.VoyageurPharmaceuticals.ca and email his President and CEO, Brent Willis. [email protected]or Al Deslauriers, CFO, [email protected].

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