Elixir Energy says results from both Mongolian wells are encouraging

–News Direct–

Elixir Energy Ltd (ASX:EXR) managing director Neil Young gives Proactive an operations update on the work underway at its 100%-owned Nomgon CBM Project in southern Mongolia.

He says the Big Slope-7 appraisal well spudded just over a week ago has already intersected gaseous coal. Meanwhile, exploration drilling is ongoing at Bluebill-1 and this well has also intersected gaseous coal. Elixirs CBM Project is close to the border with China.

"Drilling results from both wells underway are encouraging if successful [they] could open up significant new areas to the east and west of Nomgon, Elixirs managing director Neil Young said.

This well is being drilled by Mongolian drilling contractor Erdene Drilling LLC (ED) and is the first of a number of wells ED is contracted to Elixir for drill in the region.

It is a pleasure this year to be working with Erdene Drilling again they were pioneer drilling contractors with us from 2019 to 2021 but took a break from CBM work for a year after that, Young said.

Contact Details

Proactive Investors

Jonathan Jackson

+61 413 713 744

jonathan@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/elixir-energy-says-results-from-both-mongolian-wells-are-encouraging-621099780

Elixir Energy Ltd

COMTEX_436954862/2655/2023-07-17T15:14:49