- QEM recently completed extraction tests at its flagship Julia Creek vanadium and oil shale project, reporting excellent extraction yields for both oil and vanadium
- New program initiated to build on impressive results from the previous tests and optimise temperature and test run times
- Vanadium extraction, acid leaching and roasting tests to be conducted, facilitating progression of the project towards PFS
- QEM seeks to provide innovative solutions to assist with Australia’s liquid fuel security and the global vanadium supply deficit through the development of Julia Creek
QEM Limited (ASX:QEM), Queensland based vanadium and shale oil explorer has announced it will progress development of its wholly-owned flagship Julia Creek vanadium and oil shale project in North Western Queensland.
Further Processing Test Work to Boost Julia Creek plans towards PFS
QEM recently concluded independent processing test work at Julia Creek, which revealed impressive extraction yield results for both oil and vanadium. The explorer has now initiated further test works to extend and build on upon the previous positive outcomes.
The latest test work is expected to be conducted under varying testing parameters, including additional extraction scenarios, additional reagents and test run times.
The follow-up test works would be conducted by the Melbourne based HRL Technology Group, a NATA-accredited laboratory company, who completed the previous test works
The next stage of test work will take forward the insights from the previous successful results examining the following-
- Vanadium extraction scenarios, optimising temperature, and test run time across varying conditions
- Further acid leaching testing to target the excellent outcomes of the previous test
- Additional roasting tests with other roasting reagents
QEM anticipates the commencement of further test works as a major leap in progressing the dual commodity opportunity at Julia Creek, as the project swiftly ramps up towards pre-feasibility study stage.
“Dual Commodity, Dual Opportunity”
The Julia Creek project contains a world-class resource with strong potential to deliver advanced energy solutions, with a significant opportunity to produce liquid energy fuels and vanadium pentoxide for the burgeoning static energy storage market.
QEM endeavours to establish itself as a leading producer of liquid fuel, facilitating Australia in easing up the current fuel crisis and a global supplier of high-quality vanadium pentoxide to the energy storage and the Australian steel sector.
Currently, Julia Creek holds one of the largest JORC code compliant vanadium resource in the world, at 2,760Mt with an average grade of 0.30% V2O5. It also contains a 3C Contingent Oil resource of 783 MMbbls, with oil yield averaging at 53 litres a tonne.
QEM last traded at $0.091 on 16 September 2020, with a market capitalisation of $9.1 million.
All financial information pertains to Australian dollar unless stated otherwise.