Elixir Energy (ASX:EXR) hits coal sub-basin at Nomgon
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Elixir Energy (EXR) discovers a new coal-bearing sub-basin at its Nomgon project in Mongolia
The company found the presence of coal through two strat-holes, Kingston-1S and Kingston-2S, which intersected 12 metres and 8 metres of coal, respectively
Notably, the Kingston 2S well is the deepest well that Elixir has drilled to date at the project
Later this year, Elixir is planning to drill a core-hole in the Kingston sub-basin to measure its gas content and permeability
Just before the market opens today, Elixir last traded at 23.5 cents per share
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