PHOENIX, AZ / ACCESSWIRE / August 18, 2016 / Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh updates shareholders on company activities.
Dear Shareholders,
I want to update you on the current situation with the testing of the oil unit. I am presently here in Houston with my team initiating testing on the oil unit. As you may be aware, this part of the world has been under heavy rain for the past week and, although it is messy, it has not presented any major delays.
Yesterday we initiated a four- to six-week test run here at the facility where the unit was assembled. They have plenty of space to accommodate us and it is great to be at this location in case we want to make some minor changes to the piping arrangement or add testing ports to the unit as we continue our work. With the off and on rain we ran the unit today for just over an hour with zero issues. We were quickly able to increase the rpm to moderate levels and saw a temperature increase to almost 250 degrees Fahrenheit.
As you will recall, we successfully tested this unit with fresh water last summer; then, after replacing some of the seals with higher grade material, we focused our efforts and collaboration with our partners at SonCav on building a skid and assembly to properly test the ultrasonic generator's performance in processing oil. After some months of design and discussion and another few months of delayed filings, we have finally begun.
I want to make sure I set expectations appropriately on what we are doing and why: We are working with a potentially game-changing technology that can revolutionize the way independent oil operators process their crude oil, but we are not trying to solve the industry's problems tomorrow.
We will be running the unit all day today then we are going to send samples of the oil to the lab and communicate with Dr. Glotov about our findings. We will be back on site here the week of August 29th and plan to initiate daily testing consistently during the month of September with various samples of oil.
Our initial testing is going to be concentrated on flow rates, rpm, power usage, and performance. We will be taking samples of the oil so that we can have a baseline of what is happening, but we will not be aggressively running things right out of the gate. As we get more comfortable with the moving parts of the ultrasonic generator, testing vessel, and overall flow, we will begin to run up the speed of the unit and find the most efficient output range.
Once the initial testing is complete we will confer with our partners at SonCav about the best path with this unit and hope to have enough data by then to start taking orders for customized units to build for specific needs that customers will have.
We will be uploading a video of our testing on our website tonight and will be providing updates via press releases and social media throughout the testing process.
Sincerely,
Alex Walsh
CEO
Lithium Exploration Group
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 its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTCPINK 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 Commission.
Contact Info
Shanon Chilson
480-641-4790
[email protected]
SOURCE: Lithium Exploration Group
