QEM Limited (ASX:QEM) is focused on the exploration and development of the Julia Creek Vanadium and Oil Shale Project, a unique world class critical minerals resource, which will have the benefit of utilising innovative and sustainable energy solutions. QEM’s flagship project holds a 2,850Mt vanadium JORC Resource (Inferred), 360Mt of which is in the Indicated JORC category, with an average V2O5 content of 0.31%, making it one of the single largest vanadium deposits in the world, with the added benefit of a contingent (SPE-PRMS 2018) in-situ oil resource of 79MMBBls of Oil equivalent in the 2C category, and 696MMBBLs in the 3C category, contained within the same ore body. The Company controls four 100% owned exploration permits covering 249.6km² in North-West Queensland, Australia, in close proximity to all major infrastructure and services, including the new Copperstring power network, as well as intersected by the main road and rail lines connecting Mount Isa to Townsville.
In summary, QEM's Julia Creek Vanadium Project is the right project at the right time, focused on developing a globally significant Critical Minerals vanadium resource and regionally significant oil resource.
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