Based on the Minerals Law of Mongolia and other laws and regulations, the Geological and Mining Cadastre Department of MRAM issued an exploration license No. 15-019735 “Oortsog” located in Ulziit soum of Dundgovi aimag to “Ikh Mongol Commerce” LLC in 2016. Issued on April 27. In 2021, Ikh Mongol Commerce LLC returned 4,711.67 hectares of land to the MRPAM Cadastre Department to 17,369.33 hectares as a result of prospecting, mining and drilling operations.

The Oortsog license area is located about 500 km from Ulaanbaatar, 90 km southeast of Dundgovi aimag center, 40 km from Ulziit soum center and 70 km from Gurvansaikhan soum center.

In order to verify the results of the previous geological mapping survey, Ikh Mongol Commerce LLC performed field mapping, mining or trenching, and ery drilling in 2016 to identify pegmatite bodies with Rb and Li mineralization.

In 2022, a total of 1,695 samples were taken for the exploration route and secondary geochemical sampling in a 100x50m grid on an area of ​​1,012.5 hectares in the northwestern part of the site. As a result, several 1300x300m Rb and Li dispersion ranges of 0.07% were identified. In addition, spot samples from pegmatite bodies up to 0.1% of Rb and Li were identified. In the future, geological exploration works are planned to study these mineralized bodies in depth.