Julia Creek has a world-class vanadium and shale oil deposit right on its doorstep, that could deliver innovative energy solutions.
Perth-based explorer QEM Ltd recently announced they have identified one of the largest vanadium deposits in the world on tenements 16 kilometres east of Julia Creek.
The latest work upgraded QEM's resource resulted in a 62pc increase in size of the Julia Creek Vanadium which now holds 2760 million tonnes, grading an average of 0.3 per cent vanadium over tenements comprising about 250 square kilometres.
The resource upgrade incorporated historic data from drill holes in a newly granted tenement, data from a recent 26km 2D seismic survey completed in May and seven recently cored holes by QEM.
QEM Executive Director David Fitch told the Townsville Bulletin the resource upgrade was a huge development for the company, making the Julia Creek vanadium resource one of the largest vanadium deposits in the world.
"With such a significant resource, we are continuing our metallurgical test work to identify and develop the most efficient and cost effective way to extract saleable products from the project, in the form of vanadium pentoxide, transport fuels and, potentially, hydrogen," Mr Fitch said.
"QEM is highly committed to providing innovative energy solutions, and we look forward to further advancing the flagship Julia Creek vanadium/oil shale project over the coming months."
Mr Fitch said they were in the midst of pre-feasibility work looking at multiple processing techniques.
Earlier this year QEM announced successful results using Canadian company Petroteq Energy's solvent technology in preliminary testing.
The results showed the technology was able to recover up to 65 per cent of the contained oil from the Julia Creek samples.
An average 20 per cent of residual material contained metals including vanadium.
QEM says it is confident recovery of oil approaching 90 per cent yield is achievable.
QEM is striving to become a leading producer of liquid fuels and supplier of vanadium pentoxide for the energy storage market and the Australian steel industry.
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