The Julia Creek Vanadium / Oil Shale Project
MAJOR RESOURCES:
Vanadium
Oil Shale
The Julia Creek Vanadium / Oil Shale Project
QEM Limited’s flagship Julia Creek vanadium / oil shale project is a unique world class resource with the potential to deliver and utilise innovative and sustainable energy solutions.
The Julia Creek Project covers a total of 249.6km2 in the Julia Creek area of North Western Queensland, Australia, and in March 2022, the Company announced a significant Resource Upgrade, which resulted in a 64% increase in size of the Julia Creek Vanadium JORC Resource, since the previous upgrade in 2019.
Following the Resource Upgrade, the Julia Creek Project now 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.
QEM’s Julia Creek Project is now one of the single largest Vanadium deposits in the world today.
PROJECT INFORMATION
The QEM Limited Julia Creek vanadium / oil shale project consists of a total of four exploration permits EPM 26429, EPM 25681, EPM 25662 and the most recent addition of EPM 27057, which was granted in April 2019, increasing the total tenement size to 249.6 km2 (see ASX Announcement dated 2 May 2019). 2021 drill holes within the new tenement area show that the stratigraphic vanadium bearing oil shale units of the Toolebuc Formation, as defined in QEM’s current 2.85Bt JORC resource, continued into the new tenement EPM 27057.
Tenement Map detailing QEM’s tenements for the Julia Creek Project
Located 6km east from the township of Julia Creek – 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 which connects Mount Isa to Townsville.
PROGRESS TO DATE
QEM has made significant progress on developing the project to date.
2014
Initial techno-economic report completed.
2015
Initial exploration complete with large JORC (2012) inferred resource target identified. Positive metallurgy showing viability of project using known processes for V2O5 extraction.
2016
Scoping Study for vanadium only completed. Initial financial modelling complete, showing strong potential for economic viability. Positive test results using supercritical water for hydrocarbon production from oil shale (ATSE Grant).
2017
Project Implementation Study & Process Design Report. Acquisition of EPM 26429. Addition of Daniel Harris to team as Chief Advisor.
2018
Upgraded size of JORC Inferred Resource by 35% to 1,700 million tonnes with high grade target zones at up to 0.74% V205. Daniel Harris joins QEM board as Non-Executive Director. QEM is admitted to the official ASX list and commences trading.
2019
QEM receives positive results from preliminary testing for oil extraction. Additional permit granted for EPM 27057 increasing the total tenement size of the Julia Creek project tenements to a total size of 249.6 km2. Significant JORC Resource Upgrade resulted in a 62% increase in size of the Julia Creek Vanadium JORC Resource with the project now holding a 2,760Mt Vanadium JORC Resource with an average V2O5 content of 0.30%.
2020
Detailed testing program underway for both vanadium and oil extraction optimisation.
2021
Completion of test work, pilot project design and advancement of hydrogen strategy. John Henderson joins QEM board as Non-Executive Director. QEM appoints GHD and Epic Environmental to progress key parts of Julia Creek Project strategy. Drilling program continues at Julia Creek.
2022
Achieved 64% Resource upgrade. Pilot plant built, commissioned and multiple tests completed with incremental improvements. Renewables PFS complete; ecology studies, groundwater monitoring program commenced. ESG progress monitoring and quarterly reporting in place. Tim Wall joins QEM board as Non-Executive Director.
For more information on QEM Limited, please visit our Investor Centre
Investor Centre