Quest Critical Metals Accepted as Associate Partner in a Further EU Grant Funded Project Using Innovative Geochemical Techniques to Identify Deep Mineral Deposits

Rhea-AI Summary

Quest Critical Metals (CSE: BULL, OTC: DCNNF) has been accepted as an Associate Partner in the EU Horizon grant-funded Project DeepBEAT, which has secured €4.8m in funding. The project aims to develop innovative geochemical technologies for detecting deep-seated land deposits, with Quest's Tisova/Klingenthal licences serving as a test site.

DeepBEAT proposes ten technological developments, including ultra-high resolution analytical chemistry, improved sampling strategies, and AI-assisted 3D mineral prospectivity modelling. The project partners include prestigious institutions like the Czech Geological Survey, GTK, Queens University Canada, and is coordinated by the Helmholtz-Zentrum Dresden-Rossendorf Research institute.

Positive

• Secured participation in EU-funded project worth €4.8m
• Company's licenses will be used as test sites for innovative exploration technologies
• Potential second VMS deposit identified at depth in license area

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Quest Critical Metals Inc. (CSE: BULL) (OTC Pink: DCNNF) (FSE: DCR0) ("Quest Critical Metals" or the "Company") announces that it has been accepted as an Associate Partner in a further EU Horizon grant-funded Project called Deep exploration BoostEd by Advanced exploration Technologies (DeepBEAT). DeepBEAT has grant funding of €4.8m.

DeepBEAT aims to develop ground-breaking technologies to use geochemistry for the detection of deep-seated land deposits and the Company's Tisova/Klingenthal licences will be one of the test sites for this work.

DeepBEAT proposes ten novel technological developments comprising a) new insights to ultra-high resolution analytical chemistry; b) increasing sampling strategy efficiency; c) introducing ground-breaking new concepts of dealing with elemental measurement data; d) reducing exploration costs by sample selection; e) testing novel phyto-geochemical media; and f) introducing UAV assisted biogeochemical sampling. Detailed understanding of the deposits complements the workflow to allow the understanding of the mineralizations as part of mineral systems and AI-assisted 3D mineral prospectivity modelling.

In addition, DeepBEAT plans to help cultivate acceptance of exploration and mining within local communities by engaging with them throughout the Project. understanding and addressing their concerns and building them into the exploration workflows developed.

Partners in the Project include the Czech Geological Survey, GTK (the Finland Geological Survey), Queens University Canada, the Universite of Lorraine, eleven further public and private organisations and is coordinated by the Helmholtz-Zentrum Dresden-Rossendorf Research institute based in Germany.

James Newall President and CEO, commented, "We are delighted to be part of another innovative EU grant-funded Project. I cannot underestimate how much we have gained through our work with our first EU Project, the EIS Project, not just in terms of the exploration work on our licence areas but also benefitting from the world beating experience of the Project Partners. This has been incredibly beneficial for the Company and its shareholders. To have the opportunity to work on a second Project, as ground-breaking as DeepBEAT, is fantastic and is particularly exciting given our analysis that there is a potential second VMS deposit, on our licence area but at depth."

Quest Critical Metals Inc.

James Newall, President and CEO
T: (604) 639-4472

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FAQ

What is the value of the DeepBEAT grant funding that Quest Critical Metals (DCNNF) will participate in?

The DeepBEAT project has secured grant funding of €4.8m from the EU Horizon program.

What technologies will DeepBEAT develop for Quest Critical Metals (DCNNF)?

DeepBEAT will develop ten novel technologies including ultra-high resolution analytical chemistry, improved sampling strategies, new elemental measurement data concepts, and AI-assisted 3D mineral prospectivity modelling.

Which major institutions are partnering with Quest Critical Metals (DCNNF) in the DeepBEAT project?

Partners include the Czech Geological Survey, GTK (Finland Geological Survey), Queens University Canada, Universite of Lorraine, and is coordinated by the Helmholtz-Zentrum Dresden-Rossendorf Research institute.