QEM Limited (ASX:QEM) is focused on the exploration and development of its flagship Julia Creek vanadium and oil shale project, which covers 249.6km² in the Julia Creek area of North Western Queensland, Australia.
Vanadium pentoxide is contained within oil shale at Julia Creek, meaning QEM can efficiently reap the rewards of two commodities while only having to drill for one. This enhances margins and drives long-term shareholder value.
The globally significant JORC (2012) Resource of 220Mt Indicated and 2540Mt in the Inferred Category @ 0.30% V2O5 at Julia Creek represents a highly-feasible opportunity for development. The tenements at Julia Creek form part of the vast Toolebuc Formation, which is recognised as one of the largest deposits of vanadium and oil shale in the world.
Additionally, QEM intends to accelerate its strategy to produce green hydrogen at the Julia Creek project site in light of a strong policy environment and an optimal project location. Hydrogen is planned to be used for oil upgrading to a transport fuel and will be produced on site through a water electrolysis process. Renewable solar and wind energy sources to power the electrolysers are also planned to be established onsite.
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, connecting Mount Isa to Townsville.
This unique world-class critical mineral project will provide QEM with significant penetration of the burgeoning battery market, liquid fuels sector and the Australian steel industry, underpinning the Company’s intention to deliver innovative energy solutions.