I. Obliquus is a black parasitic fungus that grows on Betula (birch trees) in the Northern Boreal forests or Taiga regions. It has long been used as a folk medicine in East European countries including Russia, where it is referred to as Chaga. It is highly regarded as a Panacea, a cure for many different conditions and scientific studies have found it to contain betulinic acid that has a highly significant effect in treating cancers, high blood pressure and diabetes.
Chaga was traditionally ingested in tea or powder form, inhaled from smoke and applied to the skin. I. Obliquus appears as a blackened burnt area on birch trees, and as such is also referred to as Cinder Conk due to its charred appearance. Another identifying feature is the orange hue of the inner that is visible through fissures on the roughly cracked surface or when the fruit body of the fungi is removed from the tree.
I. Obliquus develops on living trees, killing the sapwood and facilitating the fruition of the fungus inside the bark. Although most common on Betula, it is also occasionally found on Alnus, Fagus, Populus, Tilia and Sorbus.
Chaga tea is simple to prepare and has a pleasantly organic taste. The fungi is scraped or ground to a powder and a small amount is added to hot water and allowed to infuse.
Another name for I. Obliquus is True Tinder Fungus, which, as the name suggest has traditionally been used in fire lighting. My initial experiments with it as tinder have produced poor results and I find there to be much conflicting information on the process of preparing it for use. Many reports state how it takes a spark easily and without preparation, and that it will smoulder for a very long time however I have so far been unable to ignite it with either ferro rod or a traditional flint and steel striker and further tests are required.
Some useful links:
http://www.chagamushroom.com/
http://en.wikipedia.org/wiki/Chaga_mushroom
http://www.mushroomhunter.net/chaga_recipes.htm
http://mushroom-collecting.com/mushroomchaga.html
http://www.rogersmushrooms.com/gallery/DisplayBlock~bid~5349.asp

