Lithium Exploration Group Receives Positive Report on Initial Data
From Louisiana Seismic Shoot
Phoenix, AZ -- December 13, 2017 -- InvestorsHub NewsWire
-- Lithium Exploration Group (USOTC: LEXG) met with the White
Top geophysical team and representatives from the processing
company in Houston, TX yesterday. The company also brought its
outside seismic consultant, Richard Coffin, to assist in the
oversight and update meeting. Below are some of the initial
findings from the meeting:
- Very Clean and Clear Data - The initial refraction analysis is
in process and should not take much longer because the data is very
clean. There are over 2,000,000 traces or readings that were taken
that all have to be filtered and scrubbed, but the clarity and
consistency of the data has been a blessing in the early stages of
the processing. The processing team stated that they have not seen
a land-based seismic shoot this positive in a long time.
- Preliminary Review Shows Bright Spots and Faulting Dr. Coffin
was able to review some of the initial stacking that has been
completed and can see clear bright spots (indicative of hydrocarbon
deposits) but more importantly he can see the "faulting" in the
formations which is the most important part of Salt Dome
development.
- Data Down to 17,000 Feet The next phase of the project should
begin in the first week of January and will take about a month.
This time, depth analysis is critical to the 3D aspect of showing
the entire structure. They have 3.5 seconds of data and in some
areas more, which tells them that they will have clear geological
data all the way down to 17,000 feet, which is excellent for the
long-term prospect of some of the deeper formations.
Dr. Coffin is updating his report on the shoot and processing
information he gathered yesterday, which the company will post to
its website early next week.
"It was great to finally have the data and have tangible results
that show progress. The clarity of the faulting that we were able
to see gives us high confidence that we will be able to drill the
most efficient wells possible as development commences next year,"
commented CEO Alex Walsh. "This initial data gives my team the
assurance that White Top will be able to complete the option and
that our royalty will become a substantial cash generator in the
years to come."
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and
development company focused on the acquisition and development
potential of lithium brines and other precious metals that
demonstrate high probability for near-term production. Currently
the company is focused testing the Sonic Cavitation Ltd. technology
and the acquisition of oil and gas related assets in the US and
Canada. Lithium Exploration Group is traded on the OTC Markets
under the symbol LEXG.
Website: www.lithiumexplorationgroup.com.
Safe Harbor Statement
This news release contains "forward-looking statements".
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future
testing of the ultrasonic technology.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of lithium
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
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Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com