# QEM: Exploration Programme for the Big It Tungsten Project Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/qem-exploration-programme-for-the-big-it-tungsten-project--ca113cba-28a7-4117-a52d-a6c1e2d4ccba Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03148781 Publisher: asx Original announcement: 2026-10-05T22:34:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-05T23:03:03.967Z Atlas analysis updated: 2026-10-05T23:03:03.967Z - Company: QEM Limited - Ticker: QEM - Exchange: ASX - Region: Idaho, United States - Primary commodity: Tungsten - Secondary commodities: Antimony, Gold - Document categories: Other, Drill results - Extracted: 2026-10-05 23:03:04 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary QEM Limited has announced a staged, three-phase exploration programme for the Big It Tungsten Project in Idaho, USA. The programme will progress from reconnaissance and validation to ground surveys and potentially first-pass diamond drilling to test the historical W-Sb-Au mineralised system. Reasoning: The announcement outlines a new three-phase exploration programme for a brownfields tungsten project with strong historical high-grade indicators, though current results are pending. - Positive factor: High-grade historical tungsten concentrates \(67–75% WO3\) - Positive factor: Demonstrated polymetallic W-Sb-Au system - Positive factor: Existing underground development provides early access - Positive factor: Staged, results-driven exploration approach - Negative factor: Historical data has not been independently verified - Negative factor: Current programme is in early reconnaissance/validation phase - Negative factor: Historical sampling lacks surveyed locations or representative widths Facts used in scoring: 4 ## Classification and evidence **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: Project is located immediately adjacent to the Coeur d’Alene mineral belt. Evidence · text > located immediately adjacent to the Coeur d’Alene mineral belt **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The announcement focuses on a new exploration programme but relies heavily on re-stating historical high-grade intercepts. Evidence · text > The historical exploration results referred to in this announcement are derived principally from historical data ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/qem-exploration-programme-for-the-big-it-tungsten-project--ca113cba-28a7-4117-a52d-a6c1e2d4ccba#fact-drill-facts-0) Big It · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Big It - Commodity: tungsten - Region: usa\_id - Reported Region: usa\_id - Ticker: QEM #### Geometry - Grade: 4.45 - Grade Unit: % - Intercept: 0.172 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 1953-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical average grade from 1952-1953 DMEA programme. - Positive factor: High grade reported in historical DMEA programme - Negative factor: Pre-dates modern reporting standards - Negative factor: Not independently verified Evidence · text > average grades of 4.45% WO3 over an average vein width of 6.8" \(17.2 cm\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Exploration Programme for the Big It Tungsten Project Big It Project Garden=n Valley Project IDAHO Boise Townsville Bris" ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/qem-exploration-programme-for-the-big-it-tungsten-project--ca113cba-28a7-4117-a52d-a6c1e2d4ccba#fact-drill-facts-1) Big It · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Big It - Commodity: tungsten - Region: usa\_id - Reported Region: usa\_id - Ticker: QEM #### Geometry - Grade: 7.45 - Grade Unit: % - Intercept: 0.109 m #### Classification - Sample Type: drill #### QA/QC - QA/QC Methods: standards #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 1953-01-01T00:00:00.000Z #### Dates - Event date: 2026-10-05T00:00:00.000Z Reasoning: Historical average grade from 1952-1953 DMEA programme. - Positive factor: High grade reported in historical DMEA programme - Negative factor: Pre-dates modern reporting standards - Negative factor: Not independently verified Evidence · text > 7.45% WO3 over 4.3" \(10.9 cm\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "Exploration Programme for the Big It Tungsten Project Big It Project Garden=n Valley Project IDAHO Boise Townsville Bris" ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.