Lithium Exploration Announces Positive Initial Results of Ultrasonic Generator Testing
SCOTTSDALE, Ariz., April 26, 2012 /PRNewswire/ -- Lithium Exploration Group (OTCBB: LEXG.OB) (OTCQB: LEXG.OB) announces an update on the initial testing of its Ultrasonic Generator in Pennsylvania. The initial testing went positively and without any mechanical failures or issues. On startup, the unit was operated in a closed loop circuit managing the speed of the generator, rate of water flow through the system, and pressure settings on the discharge head. All of the custom features of the proprietary technology operated without any issues throughout the ramp-up testing program. The system has been brought up to a speed that is 55% of its optimal performance and will continue to be accelerated to achieve the heat required to produce steam. The Company intends to continually update investors on milestones as they are achieved.
"The initial testing of the ultrasonic generator has been a huge success. Were it not for some minor delays due to control panel settings and a couple of pressure sensors that needed to be replaced, we would be at the required speed to produce the controlled cavitation. The next milestone for us is to bring the unit to full speed where it will achieve the required heat and pressure settings to produce steam. We have produced a video of the operating unit which should be ready for distribution in the next few days," commented CEO Alex Walsh.
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 property. Lithium Exploration Group is a fully reporting company traded on the OTCBB under the symbol LEXG. Website: www.lithiumexplorationgroup.com. Lithium Exploration Group is also now on Facebook, LinkedIn and Twitter @LEXG_OTCBB.
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, including but not limited to the completion, testing, transportation, and final installation of the unit.
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.
SOURCE Lithium Exploration Group