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.
