LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed a contract to begin Phase I of the S-K 1300 technical evaluation for its approximately 1,132-acre calcium mine in Marianna, Florida. The contract has been paid in full, and initial technical work is expected to commence within weeks.
Due to existing nondisclosure agreements, the company is not disclosing the identities of the top-tier geologist, strategic technical advisor, or the contracted firm. 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 involve reviewing historical geological data, developing testing and sampling procedures, evaluating the calcium resource, and determining 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.
The company believes completing the S-K 1300 process will provide independent technical documentation needed 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 in determining the appropriate financial treatment of the property on its consolidated balance sheet.
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 $8.50 per ton. Gold Run now controls approximately 1,132 acres, and management believes current base-market pricing may begin at about $18.50 per ton. The company expects the updated technical evaluation to exceed the historical valuation, but the 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 up to 99.999999%. Testing will determine if calcium from the property can be refined for higher-value commercial applications. Certain specialized calcium products could reach up to $2,000 per ton, 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, “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/.
