QEM has considerably advanced critical components of the pre-feasibility study for the Julia Creek vanadium and oil shale project, says managing director Gavin Loyden.

A bench-scale pilot plant is being fabricated by AMAR in India and remains on track to be delivered next quarter, with testing set to commence in April.

“This will mark another critical step in achieving our core objective of delivering high purity vanadium pentoxide, to meet rising demand for safe grid-scale vanadium battery systems and from the global steel industry,” Mr Loyden said.

The plant has been developed to validate QEM’s proprietary vanadium and oil extraction process at a larger scale ahead of a commercial demonstration plant.

QEM also recently completed an exploration drilling program at the Julia Creek project to provide about 1500kg of material for pilot plant testing and to further define and expand the resource.

Measured Group managed the campaign, with six holes drilled for a total of 417m.

“I am very pleased with the successful completion of our Julia Creek drilling program during the quarter and we now await the assay results” Mr Loyden said.

“Also pleasingly, we have a buoyant price environment for both vanadium and oil in our tailwind as we progress the project, as well as an increasingly supportive policy environment.

“This is evidenced by the $10 million Townsville Vanadium Multi-user Facility funding announcement made by the Queensland State Government during the quarter, which will directly benefit QEM as a founding member of the Queensland Vanadium Consortium.

“We also commenced the renewable solar and wind power generation optimisation studies, continued our positive engagement with the CopperString 2.0 project and as well as initiating broader project environmental assessments.”

QEM has applied for a $2 million matched funding grant under the Northern Australia Development Program (NADP) and expects the outcome to be known in February.

This would assist QEM in advancing the renewable energy developments planned at its Julia Creek project to feasibility stage.