Eulogie Magnetite Project – Iron, Vanadium, Titanium

Central Queensland Metals (CQM) is a privately owned, Queensland based company focused on the exploration and potential development of the Eulogie magnetite deposit that hosts a large iron, vanadium and titanium resource, located 80 km west of the City of Gladstone.

Previous work at the project between 2011 to 2014 defined a large indicated and inferred mineral resource that could be expanded by further exploration. The Eulogie mineral resource is currently being updated to JORC 2012 reporting standards and a drill program is planned to collect new samples of mineralization for metallurgical test work.

CQM’s objective is to evaluate recently developed metallurgical techniques to potentially produce a high-grade magnetite concentrate with co-product vanadium and titanium from Eulogie. High grade magnetite (+65% Fe) concentrate is a premium iron ore used as feed stock for a Direct Reduction Iron facility that can use green hydrogen and renewable electricity to make low carbon footprint Iron and steel (“green Iron”). Vanadium and Titanium are critical metals used in high strength steel and other aerospace applications. Vanadium is also a key metal used to produce electrolyte for large flow batteries ideally suited to grid scale storage of renewable generated electricity.

Demand for high grade magnetite iron ore for green steel making and vanadium usage in grid scale batteries, is projected to significantly increase over the coming years as the world decarbonizes.

The Eulogie project is well positioned to potentially benefit from the Queensland and Federal Government’s focus on advancing critical minerals projects, and on developing Gladstone as a renewable energy and future low carbon industries hub.

The Eulogie project has a unique infrastructure advantage, located only 6 km from the national power grid and is adjacent to large scale existing and proposed wind and solar electricity generation capacity. This presents the possibility to use renewable energy to power mine and mineral processing infrastructure. The project is also proximal to established rail and road networks linking through to the industrial and international port infrastructure at Gladstone.

CQM has partnered with Quinbrook Infrastructure Partners to evaluate the potential to produce a high-grade magnetite iron concentrate with vanadium and ilmenite co-products. Concentrate would then be transported to Gladstone, where value add processing and potential smelting could occur or direct export of the concentrate to international markets.

Quinbrook Infrastructure Partners are a ‘value add’ investment manager with a specialist focus on energy transformation, across low carbon and renewable energy supply, storage, grid stability, a data center, industrial and supply chain decarbonisation and related assets and businesses https://www.quinbrook.com/

For more information on the Eulogie project please contact Central Queensland Metals at contact@cqmetals.com.au