EXR - CSG Mongolia Elixir.

Elixir - 'an alchemic preparation formerly believed to be capable of transmuting base metals into gold.'

Nobody ever said that the road to riches would be paved with Gold. Finding CSG in Mongolia will take time and patience and the EXR management team are the best in the business and know what they are doing. They have a well planned and well thought out strategy that has been 8 years in the making. The real CSG drilling begins this week!

"The program’s prime aim is the drilling of two fully tested core-holes (with an option for a third), the results of which will feed into a contingent resource assessment in the New Year. The program started with low cost chip-holes with multiple calibration and exploration aims."
As of Sunday 10 November 2019, the status of the drilling program was as set out below.
• The Ugtaal-1 core-hole is due to spud later today. Desorption equipment and expert personnel will be deployed by the end of the week to the well-site. They will be ready once drilling has reached the anticipated coal seams that are planned to be fully evaluated.

"Core-holes are the primary tool for exploring and exploiting for CSG around the world. Elixir has a 2 firm (plus one contingent) core-hole program for Year 1 of the Nomgon IX PSC. The core-holes will target Elixir’s developed CSG leads, which were defined by surface outcrop, gravity and 2D seismic mapping.
The core-holes will have world-class drilling and geological supervision at the well site. The cores will be accurately logged, with coal samples put through a US certified (ASTM D7569) coal desorption process (Q1+Q2+Q3). Gas samples will be captured for chromatographic analysis. The coal collected will be examined petrographically, and adsorption and proximate analysis also undertaken.Finally, the core-holes will be subject to Injectivity Fall-Off Testing (IFOT) of the coal seams to determine the permeability of the coals, and in particular, the cleating. These CSG core-holes will be the most technologically advanced ever undertaken in Mongolia.The results of these wells will define Proof of Concept for CSG in Nomgon IX."



Proven exploration at the nearby Tavan Tolgoi Coal mine has shown that the quality and thickness and gas bearing qualities of the coal seams in this region. Just need to allow the drilling to confirm it now.


If the Ugtaal-1 Core Hole comes in with results similar to the ones above then you can bet we are in for a significant rerate and .042c and a MC of $21 Million will be history.

Today was a sell for short term punters, but it was definitely a buy for investors wanting to maximise their profits......