Please describe Xcalibur’s expertise and capabilities?

Using airborne technology and smart data, we map a country’s natural capital, both on the surface and underground, to look for traditional and critical minerals, as well as other forms of natural capital, like water and energy resources. Our clients range from governments to explorers and scientific & environmental communities. From a country-mapping perspective, more countries, including Mongolia, realize that the energy transition is having a big impact on their economies and want to establish their place in the critical minerals supply chain. The quickest and most environmentally friendly way governments can fast-track their understanding of their country’s natural capital is by mapping from the air – this has the lowest carbon and community impact while delivering the fastest results.

Could you detail the technologies that Xcalibur brings to the table?

Many of our existing technologies are born out of collaborations with leading universities such as the University of Western Australia. Our portfolio includes more than 50 patents, across the globe. To name a few of our coveted technologies, Falcon is an airborne gravity gradiometer technology unique in the world because it is targeted specifically for minerals, with great success in mineral exploration over the years and a lot of potential in geothermal and natural hydrogen mapping applications. 

Xcalibur has a presence in six continents and 15 countries. What have been the most recent forays?

We are about to open two more offices in the next six months. Most recently, we have been active in Saudi Arabia, conducting a large magnetic radiometric program which is to be followed by electromagnetics and gravity gradiometry at a later point. We are also just finishing a large mapping program in Uganda. In Kazakhstan, we signed an MoU with the country’s National Geological Survey JSC to map the country’s natural resources using our advanced satellite mapping solutions. 

And could you elaborate on the work Xcalibur is doing in Mongolia?

The government is trying to make Mongolia a stable and investment-friendly destination, which is always an opportunity for us. We are partnering on a project with the Geological Research Center of Mongolia and the Ministry of Mines and Heavy Industry to run a Helitem electromagnetic survey covering the south of the country, where mines like the Oyu Tolgoi (Rio Tinto) are located. Helitem is the most powerful deep-penetrating time-domain electromagnetics system for target discrimination and it has the lowest base frequency of the electromagnetic airborne surveys, essentially allowing us to see as deep as possible and at the highest possible resolution from up in the air. We will follow this up with a Falcon survey in early 2024. We are extremely enthusiastic about Mongolia, and the broader Central Asian region and we are ready to provide the highest quality service, which goes beyond the survey; the main value we offer is in the interpretation of the data and understanding of the earth. 

Mongolia is often described as under-explored. What kind of understanding is available in terms of the country’s mineral potential?

Mongolia has had some traditional studies focused on surface geology in the mid-20th century, while some parts of the country have also been covered by airborne surveys, but the bulk of the data obtained would not meet what we call “modern” industry standards. There is a gap in high-resolution magnetics and radiometric gravity data to get a picture of the subsurface potential. The most prospective targets should then be followed by more innovative techniques like electromagnetic Tempest and Falcon for more detailed information, combined with interpretation software that uses machine learning for a fully integrated product that you can present with confidence to investors. 

What are Xcalibur’s main priorities for 2024?

In Mongolia, our key priority is to establish ourselves as a partner for the government and for major explorers in the country, offering our full suite of technologies from 2024 onwards to help our customers understand the prospectivity of their licenses in the fastest and most accurate way possible.

Finally, Xcalibur has participated in COP28 in the UAE. What is your sustainability strategy?

For a long time, the world has been looking at the energy transition, but our mission as a company is to have a just energy transition, helping emerging markets to make this transition successfully. We are very proud to be a part of COP28 this year also because Xcalibur has a strong ESG conscience, holding ourselves accountable with the highest ESG standards. For example, we are among the few companies in the exploration sector to create an ESG Committee, and we established the Xcalibur Foundation as a standalone NGO doing social projects (on education, women empowerment, and health) in countries where we operate.