QEM Limited (ASX:QEM) is focused on the exploration and development of the Julia Creek Vanadium and Oil Shale Project, a unique world class critical minerals resource with the potential to deliver and utilise innovative and sustainable energy solutions.
The Company’s flagship Julia Creek Project holds a 2,850Mt Vanadium JORC Resource with an average V2O5 content of 0.31%, with 360Mt in the Indicated category and 2,490Mt in the Inferred category, making it one of the single largest Vanadium deposits in the world, with the added benefit of a contingent (SPE-PRMS 2018) in-situ oil resource of 79MMBBls of Oil equivalent in the 2C category, and 696MMBBLs in the 3C category, contained within the same ore body.
The globally significant vanadium pentoxide resource together with a material volume of aluminium contained within oil shale at the Julia Creek Project, represent a highly-feasible opportunity for development. In short, QEM can efficiently reap the rewards of multiple commodities while only having to drill for one. This enhances margins and drives long-term shareholder value.
QEM’s tenements, which cover 249.6km² in the Julia Creek area of North Western Queensland, Australia, form part of the vast Toolebuc Formation, which is recognised as one of the world’s largest deposits of vanadium and oil shale. In close proximity to all major infrastructure and services, the Project is intersected by the main infrastructure corridor of the Flinders Highway and the Great Northern Railway, connecting Mount Isa to Townsville.
This unique world-class deposit will provide QEM with significant penetration of the burgeoning battery market, liquid fuels sector and the global steel industry, underpinning the Company’s desire to deliver innovative energy solutions.