{"id":6656,"date":"2024-03-04T02:46:07","date_gmt":"2024-03-04T02:46:07","guid":{"rendered":"https:\/\/economicherald.net\/?p=6656"},"modified":"2024-03-04T02:46:07","modified_gmt":"2024-03-04T02:46:07","slug":"confidence-is-key-qem-increases-julia-creek-endowment-already-one-of-the-worlds-largest-vanadium-deposits","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6656","title":{"rendered":"Confidence is key: QEM increases Julia Creek endowment, already one of the world\u2019s largest vanadium deposits"},"content":{"rendered":"

QEM announces 28% increase in vanadium resource at Julia Creek to 461Mt
\n2C oil resources up 32% to 94MMboe
\nHigh-purity alumina and other critical minerals by-products identified
\nScoping study on track for Q2 release<\/p>\n

\u00a0<\/p>\n

Special Report<\/em><\/strong>: A substantial 28% upgrade of QEM\u2019s Julia Creek vanadium endowment and 32% increase in 2C oil have boosted the company\u2019s ambitions of becoming an integral cog in the wheel of Australia\u2019s clean energy transition mechanism.<\/strong><\/p>\n

QEM (ASX:QEM)<\/strong><\/a> is looking to leverage Aussie-invented vanadium redox flow battery (VFB) technology for long duration energy storage (LDES) \u2013 a game-changer for storing and supplying renewable energy production.<\/p>\n

The University of Queensland (UQ) is also on board.<\/p>\n

A test work collaboration between UQ and QEM at Julia Creek proved the ability to produce high-purity (>99%) vanadium pentoxide from its waste streams<\/strong><\/a> \u2013 a \u2018circular economy\u2019 solution that provides a potential locally sourced feedstock for vanadium batteries before QEM begins mining.<\/p>\n

\u00a0<\/strong><\/p>\n

Deposit upgrade<\/strong><\/h2>\n

Confidence in QEM\u2019s flagship Julia Creek vanadium resource west of Townsville, Queensland, has increased with the indicated resource rising by 28% to 461Mt of a total 2,870Mt @ 0.31% vanadium (V2O5) and its 2C oil shale estimate has been upped 32% to 92 million barrels oil equivalent (MMboe), after updating the petroleum resources management system (PRMS).<\/p>\n

Drilling also increased the 3C resources to 654MMboe and identified further multi-commodity potential with copper, molybdenum, nickel, zinc and aluminium able to be produced as by-products from the vanadium processing, which could add to revenue streams.<\/p>\n

\u00a0<\/p>\n\n

Map of the indicated and inferred resources at Julia Creek. Pic: Supplied (QEM)<\/em><\/p>\n

\u00a0<\/p>\n

QEM managing director Gavin Loyden says the resource upgrade at Julia Creek demonstrates the size and consistency of the tenements, with increases in indicated vanadium and 2C oil resources a result of targeted drilling in the northern area of the deposit.<\/p>\n

\u201cThe resource upgrade comes at an optimal time, enabling QEM to integrate the new findings into our new scoping study, which is on track for release in 2Q 2024, signifying a major step forward for the company\u2019s production ambitions,\u201d Loyden says.<\/p>\n

\u201cWe\u2019ve substantially bolstered the confidence level in both our vanadium and oil shale resource bases, propelling us towards realising our ambition of developing Australia\u2019s critical minerals resources and delivering innovative energy solutions which will help meeting energy transition targets.<\/p>\n

\u201cWe will build on this highly encouraging resource upgrade with QEM\u2019s 2024\/25 exploration campaign, with the details for the program currently being finalised.\u201d<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

This article was developed in collaboration with QEM, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

\u00a0<\/p>\n

<\/span><\/p>\n

The post Confidence is key: QEM increases Julia Creek endowment, already one of the world\u2019s largest vanadium deposits<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

QEM announces 28% increase in vanadium resource at Julia Creek to 461Mt 2C oil resources up 32% to 94MMboe High-purity alumina and other critical minerals [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6657,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nConfidence is key: QEM increases Julia Creek endowment, already one of the world\u2019s largest vanadium deposits - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=6656\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Confidence is key: QEM increases Julia Creek endowment, already one of the world\u2019s largest vanadium deposits - 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