A seismic exploration method includes performing a true amplitude PSDM based on an initial velocity model of a subsurface formation to obtain a reflectivity model, and then a Born modeling using the reflectivity model to generate synthetic data. An image-based reflection full waveform inversion is applied to a cost function of differences between seismic data acquired over the subsurface formation and the synthetic data to update the initial velocity model. The updated velocity model enables exploring the presence of and/or assisting in the extraction of natural resources from the subsurface formation.