LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and fully funded a contract to commence Phase I of the S-K 1300 technical evaluation for its approximately 1,132-acre calcium mine in Marianna, Florida. The initial technical work is expected to begin within the next few weeks, marking a critical step toward independent validation of the mineral resource.
Due to existing nondisclosure agreements, the Company is not disclosing the names of the geologist, strategic technical advisor, or the contracted firm. However, the selected professionals have experience in top-tier geology, mining engineering, S-K 1300 and 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 the additional work required to complete 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. The Company believes that 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 LIG Assets 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 prepared in 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 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 the final value will depend on confirmed mineral quantities, calcium purity, recoverability, processing costs, market conditions, and the findings of the independent technical professionals.
The advisor is also evaluating whether advanced refining technology originally developed for specialized applications could increase calcium purity up to 99.999999%. If testing confirms that calcium from the property can be refined for higher-value commercial applications, certain specialized calcium products may have significantly higher market values, potentially reaching up to approximately $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 future development and operation of the property. Management added, “This is an important milestone for LIG Assets. We have completed the contract and payment requirements and are now moving into Phase I 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.” The Company also stated it will be revamping its entire branding and structure to enhance value for shareholders.
Further updates will be provided as Phase I progresses. For more information, visit the Company's website at https://ligassets.lovable.app/. The original press release is available at www.newmediawire.com.
