Methods are disclosed which provide for quantifying and characterizing the mineral content of a formation as a function of depth. Elemental data derived from logging tools are input into an element-mineral transform operation, preferably a matrix which is constructed using multivariate statistical analysis on previously available data, to determine the quantity of at least one or more dominant minerals in the formation. From the mineral quantity information and the elemental log data, the formation minerals are further characterized. Information regarding the character and quantities of formation minerals is further used to obtain improved determinations of formation characteristics such as the cation exchange capacity and water saturation, and the grain density and formation porosity, as well as to obtain an increased understanding of the formation such as the depositional environment of the formation. A determination of formation characteristics and an increased understanding of the formation are both vital to production decisions concerning the formation.