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.
QEM is the only company in the world currently in a position to develop a vanadium and oil combination project, which will progress under the leadership of a management team with extensive resources sector experience.
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.
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 Mt. Isa to Townsville.
This unique world-class deposit will provide QEM with significant penetration of the burgeoning battery market, liquid fuels sector and the Australian steel industry, underpinning the Company’s desire to deliver innovative energy solutions.