EXPLORATION & DEVELOPMENT

QEM claims world-class upgrade

Vanadium resource estimate substantially increased

Julia Creek is rich in vanadium.

Julia Creek is rich in vanadium.

The minnow's Julia Creek tenure now contains an estimated 2.76 billion tonnes of vanadium grading 0.3%, including 220 million tonnes in the indicated category.
 
Previously it inferred 1.7Bt grading 0.34% vanadium pentoxide.
 
The upgrade comes more than a year after the company raised A$5 million to list on the Australian Securities Exchange, and incorporates the results of a 26km 2D seismic survey completed in May, seven coreholes drilled by the company, and historical data from drill holes in a newly-granted tenements.
 
The company continues its metallurgical test work to identify and develop the most efficient and cost effective way to extract saleable products from the project, for vanadium, transport fuels and hydrogen.
 
There are also potential base metal by-products with average grades of 201 parts per million copper, 166ppm molybdenum, 170ppm nickel and 1043ppm nickel. 
 
The Toolebuc Formation, which hosts the vanadium, also contains a large 3C contingent 783 million barrel oil resource within kerogenic shale, which may be recoverable using new technologies. 
 
The region around Julia Creek is one of the richest vanadium provinces in the world, with Intermin Resources claiming a 2.9Bt vanadium resource.
 
QEM shares were 10c at yesterday's close, valuing the company at $10 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.