Resource Upgrade – One of the World’s Single Largest Vanadium Resources
62% increase to 2,760Mt with average V2O5 content of 0.30%
- Significant Resource Upgrade has resulted in a 62% increase in size of the Julia Creek Vanadium JORC Resource
- Following the Resource Upgrade, the Project now holds a 2,760Mt Vanadium JORC Resource with an average V2O5 content of 0.30%
- The Julia Creek Vanadium Resource now consists of 220Mt in the Indicated category and 2,540Mt in the Inferred category
- The Project also contains 783MMBBls of Oil in the 3C category
- QEM’s 100% owned Julia Creek Project is now one of the largest vanadium deposits in the world
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,