Elixir Energy (ASX:EXR) completes drilling of second well at Nomgon, Mongolia – The Market Herald

• Elixir Vitality (EXR) completes the drilling of its Nomgon-8 and Nomgon-9 wells at its Nomgon IX Coal CBM challenge in Mongolia
• The Nomgon-8 properly is the second to be accomplished as a part of Elixir’s prolonged manufacturing program and was drilled to 562 metres in 10 days — a brand new file for the corporate
• In accordance with the corporate, it logged roughly 51 metres of coal over the first goal on this part
• Elixir says it has now commenced completion works, which will likely be adopted by manufacturing
• Shares in Elixir are buying and selling gray at 15 cents at 2:08 pm AEST

Elixir Vitality (EXR) has accomplished the drilling of its Nomgon-8 and Nomgon-9 wells at its Nomgon IX Coal CBM challenge in Mongolia.

The corporate stated the Nomgon-8 properly was the second to be accomplished as a part of Elixir’s prolonged manufacturing program and was drilled to 562 metres in 10 days — a brand new file for the corporate

Roughly 51 metres of coal have been logged over the first goal, and a perforated liner was put in over this part.

“Our CBM pilot manufacturing challenge continues to go to plan with the completion of the drilling of the 2 pilot wells,” Elixir Managing Director Neil Younger stated.

“Our purpose stays to pump water — then fuel — from the wells within the quick time period.

“In parallel, the latest exploration/appraisal outcomes from the Large Slope area are promising and we’ll proceed to broaden our information of this space.”

Although the corporate is anticipating delays to operations as winter storms have arrived early within the Gobi, Elixir nonetheless expects to provoke the pilot manufacturing take a look at inside the subsequent month or so.

Elsewhere within the basin, drilling at Large Slope 2 has intersected roughly 38 metres of coal and silty coal.

Gasoline desorption readings on an preliminary uncooked fuel foundation have been recorded at in extra of seven cubic metres per tonne.

The corporate will proceed to appraise this coal discovery within the subsequent few months and plans to run an IFOT take a look at within the Large Slope sub-basin earlier than the tip of the 12 months.

Shares in Elixir are buying and selling gray at 15 cents at 2:08 pm AEST.