LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and paid in full a contract to commence Phase I of the S-K 1300 technical evaluation for its approximately 1,132-acre calcium mine located in Marianna, Florida. The initial technical work is expected to begin 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 company 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 United States Department of Defense.
Phase I will review historical geological information, develop testing and sampling procedures, evaluate the calcium resource, and determine additional work required to complete an S-K 1300-compliant 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 that completing the S-K 1300 process will provide independent technical documentation to evaluate and support the potential value of the Marianna mineral resource. Subject to the final technical report, independent audit review, applicable accounting standards, and SEC and tax requirements, the findings may also assist LIG Assets in determining the appropriate financial treatment of the property on its consolidated balance sheet.
“Many shareholders have asked why LIG Assets is pursuing an S-K 1300 technical report at this stage,” management stated. “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.”
Historical reports prepared in 2009 estimated the mine’s value at approximately $400 million based on about 200 acres and an assumed value of $8.50 per ton. Gold Run now controls approximately 1,132 acres, and management believes current base-market pricing may begin at approximately $18.50 per ton. The company expects the updated technical evaluation to exceed the historical valuation, though final value will depend on confirmed mineral quantities, calcium purity, recoverability, processing costs, and market conditions.
The advisor is also evaluating whether advanced refining technology originally developed for specialized applications may increase the purity of the calcium product up to 99.999999%. Testing will determine whether calcium from the property may be refined for higher-value commercial applications. Depending on purity, certain specialized calcium products may have market values up to approximately $2,000 per ton.
LIG Assets, through Gold Run, Inc., maintains full control over the future development and operation of the property. Management added, “We will be revamping the entire branding and structure of the company that should greatly enhance the value of LIG Assets and to its shareholders.”
For more information, visit the company’s website at https://ligassets.lovable.app/ or view the original release on www.newmediawire.com.
