Lithium Exploration Group Announces Completion of Seismic Data Collection Expected by End of August
Phoenix, AZ -- August 9, 2017 -- InvestorsHub NewsWire -- Lithium Exploration Group Inc. (USOTC: LEXG) announced today that half of the 1000 “shot holes” have been drilled and data collection is expected to begin next week. The data collection from the shoot should be completed by the end of August. The shoot area extends outside of the present lease because it is important to get a good distance away from the face of the salt dome to get an accurate reading on the deeper horizons. This will lead to data being gathered about formations outside of the present lease, which could in turn lead to additional land leases and additional reserve potentials for the field.
“There are a handful of very well-defined drilling opportunities for which our partners are raising capital today. The remainder of the development opportunity and reserves will be better defined upon completion of this seismic shoot,” commented CEO Alex Walsh. “It is exciting that we are under way, and we are only weeks away from receiving the results which will truly take this project from being an ‘educated guess’ at potential reserves to knowing definitively the depth and breadth of what this field has to offer.”
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.
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 Commission.