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QEM Ltd.
Summary
| Project: | Julia Creek | |
|---|---|---|
| Deposit: | Julia Creek | |
| Location: | Australia | |
| Commodities: | Vanadium | |
| Date: | 10/14/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-10-2019: QEM Ltd. announces a Resource Estimation report for its Julia Creek deposit at the Julia Creek project. Updated mineral resource estimate for project. QEM Limited (“QEM”, the “Company”) (ASX:QEM) is very pleased to announce a significant Resou | |
| Resources: | (Resource, I+I): 2.760Mt @ 0.30% V2O5 | |
| CP/QP: | [Resources]: Lyon Barrett (Measured Group Pty Ltd.) | |
| ABSTRACT: | QEM Limited (“QEM”, the “Company”) (ASX:QEM) is very pleased to announce a significant Resource Upgrade at the Company’s flagship Julia Creek vanadium / oil shale project (“Project”), covering 249.6km², in the Julia Creek area of North Western Queensland, Australia. Following the Resource Upgrade, the Project now holds a 2,760Mt Vanadium JORC resource, with an average V2O5 content of 0.30%, making it one of the largest vanadium deposits in the world. The Resource Upgrade has incorporated historic data from drill holes in the newly granted tenement EPM 27057 (ASX Release – 7 May 2019), in addition to the data from the recent 26km 2D seismic survey data completed in May 2019 (ASX Release - 7 May 2019), and seven recently cored holes by QEM (two holes in 2018 and five holes in 2019). QEM Executive Director, David Fitch, commented: “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. 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.” | |
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