LIG Assets, Inc. (OTC: LIGA) announced that its wholly owned subsidiary, Gold Run, Inc., has signed and fully paid for a contract to begin Phase I of an 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 existing nondisclosure agreements, the company is not releasing the names of the top-tier geologist and strategic technical advisor, nor the firm hired for the evaluation. The advisor and geologist have 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 review historical geological information, develop testing and sampling procedures, evaluate the calcium resource, and determine additional work needed for a compliant S-K 1300 technical report. Regulation S-K 1300 establishes the SEC’s disclosure requirements for publicly traded mining companies reporting material mineral resources and reserves in the United States.
Management stated, “Many shareholders have asked why LIG Assets is pursuing an S-K 1300 technical report at this stage. 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. 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 roughly $8.50 per ton. Gold Run now controls about 1,132 acres, and management believes current base-market pricing may start at approximately $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 professional findings.
The advisor is also evaluating whether advanced refining technology originally developed for specialized applications could increase calcium purity up to 99.999999%. Depending on purity and product specifications, certain specialized calcium products could have significantly higher market values, potentially reaching up to about $2,000 per ton. These higher values remain subject to successful testing, processing validation, customer requirements, and commercial feasibility.
LIG Assets, through Gold Run, Inc., maintains full control over the property’s future development and operation. Management added, “This is an important milestone for LIG Assets. 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 to enhance value for LIG Assets and its shareholders.
For more information, visit the company’s website at https://ligassets.lovable.app/ and view the original release at www.newmediawire.com.
