LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and fully paid for a contract to begin Phase I of the S-K 1300 technical evaluation of its approximately 1,132-acre calcium mine in Marianna, Florida. The initial technical work is expected to commence within the next few weeks.
Due to nondisclosure agreements, the company is not disclosing the names of the top-tier geologist and strategic technical advisor, nor the firm contracted, but noted their experience in geology, mining engineering, S-K 1300 reports, NI 43-101 technical reports, and projects involving the U.S. Department of Defense. Phase I will involve reviewing historical geological data, developing testing procedures, evaluating the calcium resource, and determining additional work needed to produce a full S-K 1300-compliant technical report.
Regulation S-K 1300 sets the SEC’s disclosure requirements for publicly traded mining companies reporting material mineral resources and reserves in the United States. LIG Assets believes completing this process will provide the independent technical documentation needed to evaluate and support the potential value of the Marianna mineral resource. The findings may also help the company determine the appropriate financial treatment of the property on its consolidated balance sheet, subject to independent audit and SEC and tax requirements.
“Any larger publicly traded mining company considering a future acquisition, partnership, or joint venture involving the property would likely require this level of independent technical validation,” management stated. “Rather than waiting for a potential transaction, LIG Assets has chosen to complete the necessary work upfront. We believe this approach will strengthen our ability to enter discussions with potential strategic partners or purchasers, independently validate the resource, and maximize the potential value of the property for both the Company and its shareholders.”
Historical reports from 2009 estimated the mine’s value at approximately $400 million based on about 200 acres and an assumed value of about $8.50 per ton. Gold Run now controls roughly 1,132 acres, and management believes current base-market pricing may start at around $18.50 per ton. The company expects the updated evaluation to exceed the historical valuation, but final value will depend on confirmed mineral quantities, calcium purity, recoverability, processing costs, market conditions, and independent findings.
The advisor is also evaluating whether advanced refining technology, originally developed for specialized applications, could increase calcium purity to up to 99.999999%. If successful, certain specialized calcium products could reach market values of up to approximately $2,000 per ton. These higher values remain subject to successful testing, processing validation, and commercial feasibility.
LIG Assets, through Gold Run, Inc., maintains full control over the property’s future development and operation. “This is an important milestone for LIG Assets,” management said. “We have completed the contract and payment requirements and are now moving into phase 1 of the technical validation process. The S-K 1300 report is expected to help establish the size, purity, commercial potential, and appropriate financial value of this important calcium resource.”
Additionally, management stated the company will revamp its entire branding and structure, which they believe will greatly enhance value for LIG Assets and its shareholders. The company expects to provide further updates as Phase I progresses and testing begins.
For more information, visit LIG Assets’ website at ligassets.lovable.app or view the original release on NewMediaWire.
