CALGARY, Alberta, July 11, 2017 (GLOBE NEWSWIRE) -- Voyageur Minerals Ltd. (VM.V) (the “Company”), announces that drilling has commenced on its 100% owned Frances Creek industrial barite deposit. A 2000 meter drilling program will target two known zones of barite and will infill drill between these zones. Over 2000m of historical drilling has been completed on this deposit.
Past historical work by the former owners identified barite from over 2000m of core drilling. Currently there is an indicated strike length of over 600m and the vein was drilled to a vertical depth of 90m. The deposit is open in all directions.
Based on a review of historical drill core the Company has an exploration target of 53,856 to 215,422 tonnes @ 95.86% to 99.26 % BaSO4. The potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
The objective of the current drilling is to produce a barite resource report which if the drilling is successful, will lead into a mining feasibility study for 2018 production.
About Voyageur Minerals
Voyageur is a Calgary based company which owns 100% interest in three Barium Sulfate ("Barite") deposits including two properties which initial work suggests are suitable in grade for the industrial barite market place, and interests in 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 potential near term cash flow, while it continues exploration for critical and strategic minerals.
Qualified Person Statement
The Company’s qualified person as defined by NI 43-101, Mr. Randy Henkle, P.Geol, has reviewed this news release and approved it.
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.
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.
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