QEM says its Julia Creek project is proving to be one of the largest vanadium deposits in the world as it reveals a significant resource upgrade.
The company’s flagship Julia Creek vanadium / oil shale project covers 249.6sq km in the Julia Creek area of North West Queensland.
Following the resource upgrade, the project holds a 2760Mt vanadium JORC resource, with an average V2O5 content of 0.30 per cent.
This is a 62 per cent increase in the size of the vanadium resource.
QEM said the resource upgrade incorporated historic data from drill holes in the newly granted tenement EPM 27057 in addition to data from a 26km 2D seismic survey completed in May and seven recently cored holes.
“This resource upgrade is a huge development for the company, making the Julia Creek vanadium resource one of the largest vanadium deposits in the world,” QEM executive director David Fitch said.
“With such a significant resource, we are continuing our metallurgical test work to identify and develop the most efficient and cost effective way to extract saleable products from the project, in the form of vanadium pentoxide, transport fuels and potentially hydrogen.
“QEM is highly committed to providing innovative energy solutions, and we look forward to further advancing the flagship Julia Creek vanadium / oil shale project over the coming months.”