Initial interpretation suggests a continuation of the prospective P2 Permian strata in an east-west orientation, implying that any coal seams located within the strata could have a strike in excess of two kilometres.
Further analysis of the seismic data will assist optimal location of drill hole collars in future exploration.
Notably, Ulaan Tolgoi lies in the South Gobi province, just 100 kilometres from the Chinese border, providing a low cost export opportunity to a giant potential customer base.
The licence covers 43,000 hectares, and lies 300 kilometres from South Gobi Resources (TSX:SGQ) Ovoot Tolgoi coal mine which boasts coking coal reserves of 257 million tonnes.
In addition, basement rocks have demonstrated prospectivity for gold, bismuth and molybdenum, via a small number of rock chip samples.
Newera is capitalised at around $2 million.
Source: Proactive Investors Australia
