SCOTTSDALE, Ariz.--(BUSINESS WIRE)--An Alberta Geological Survey study published in 2010 reveals that a well in the heart of Lithium Exploration Group's (OTCBB: LEXG) Valleyview property recorded the highest concentration of lithium (140ppm) among more than 1,500 areas surveyed. “Lithium Ground and Formation Water Geochemical Data," authored by D.R. Eccles and G.M. Jean of the AGS, was written with the intention of enabling present and future companies to better evaluate their targets and characterize their resource estimates. The report, researched during 2009, compiles formation water geochemical lithium data from various sources, spanning from the mid-1970s to the most recent available studies.
A second well on the property tested at 84ppm, ranking it also among the top 50 in the 1,511 tests. Of the 200 wells that have been drilled into the aquifer on the LEXG property, only 6 wells were part of the 2010 AGS report.
“This information is an affirmation that this property has huge potential," said LEXG CEO Alex Walsh. "This report just serves as a guideline for us as we move forward in our sample testing efforts. It certainly does help to know going into a testing campaign where the richest deposits are located.”
About Us
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 on its Western Canada and South America properties. Lithium Exploration Group is a fully reporting company traded on the Nasdaq OTCBB under the symbol LEXG. Website: www.lithiumexplorationgroup.com
Safe Harbor Statement
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.