QEM unveils significant upside potential at Big It tungsten project

• Review identifies significant expansion opportunities
• Demonstrated polymetallic system located within highly prospective structural setting
• Compelling untested depth and strike potential
• Historical US Government exploration confirming additional, multiple high-grade tungsten oreshoots

QEM (ASX: QEM) is moving quickly to unveil the significant potential of its recently acquired Big It tungsten project northern Idaho.

The historic Big It asset is being assessed for its potential to support the US need for tungsten at a time when the critical mineral is in significant demand for its use in defense and modern technology.

A detailed review and compilation of available historical geological, mining and exploration information undertaken by QEM at Big It has already identified early exploration targets,

The review followed the completion acquisition of all shares in Freshwater Metals, the owner of critical minerals exploration projects at Big It and Columbite in mid-September.

Big It is a past producer of tungsten and is also prospective for antimony and gold, while the Columbite project hosts the Vaught-Peck prospect which is prospective for fluorspar and niobium, and other rare earth elements (REE).

MD, Robert Cooper, said the Big It review had already confirmed the past-producing tungsten project.

“The compilation of the data for Big It demonstrates the clear exploration potential for the project, and provides a platform from which QEM can plan and undertake exploration activities,” Mr Cooper said.

“The combination of historically verified tungsten production at Big It, together with previous significant sampling results for antimony and gold, highlights this potential.”

He told shareholders the underexplored nature of the project provides an excellent opportunity for the application of a systematic, staged application of modern exploration techniques.

“That will hopefully lead to QEM identifying further mineralisation, and ultimately becoming a domestic producer of tungsten and other critical minerals in the United States to feed a growing market for these critical minerals.”

Big It is distinguished from many early-stage exploration projects by its history as a past-producing underground tungsten mine.

Historical operations reportedly produced high-grade tungsten concentrates grading 67 to 75% tungsten trioxide (WO3) for supply to US wartime programmes, and approximately 350m of underground workings are reported to remain, accessed through two historical drifts.

“This makes Big It one of only a handful of historically verified past tungsten producers in the United States with documented government shipments,” Mr Cooper noted.

The next phase of work will focus on verification and target definition through conducting: geological and structural mapping; surveying of the portal and accessible underground workings where safe and practicable; systematic surface and underground sampling; integration of historical mining and sampling records; and verification of the 2022 soil geochemical program.

QEM was steady at 1.6¢ with a Mkt cap of $5.666M prior to markets opening.

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