Since the morning of November 11th, seismic activity related to the magma intrusion remains fairly constant. Since midnight November 12th, around 1000 earthquakes have been recorded within the dyke, and all of them have been below M3.0 in magnitude. The most seismic activity has been located in the region north of Grindavík. Most of the earthquakes are at a depth of 3-5 km corresponding to the lower part of the dyke intrusion.
GPS measurements covering the past 24 hours show that deformation associated with the dyke intrusion that formed on Friday, November 10th has slowed. This can be an indication that magma is moving closer to the surface, new models will be run as soon as new data comes in to update the model.
A Geologist thinks any eruption will be a more locally impactful situation. It will be more like the 1973 eruption than the 2010 eruption.
January 23, 1973, the newly-formed Eldfell volcano erupted for about six months, covering much of Vestmannaeyjar in ash, destroying several hundred homes, and sending lava flows toward the harbor—at one point raising the water temperature to 111° F (44° C). An enormous and largely-successful effort was made to slow and control the lava flow by pumping seawater and spraying the leading edge of the flows. Within a year after the end of the eruption, most residents had returned, and today, the island remains inhabited, with a population of about 4,500.
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