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 located in Marianna, Florida. The initial technical work is expected to commence within the next few weeks, according to the company's press release.
Due to existing nondisclosure agreements, LIG Assets is not disclosing the names of the top-tier geologist, strategic technical advisor, or the contracted company. However, the advisor and geologist possess experience in top-tier 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. 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 approximately $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, but the 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 may be capable of increasing calcium purity up to 99.999999%. Testing will determine whether calcium from the property may be refined for higher-value commercial applications. Depending on purity and product specifications, certain specialized calcium products may have significantly higher market values, potentially reaching up to approximately $2,000 per ton. These 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 stated, "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 noted that the company will be revamping its entire branding and structure to enhance value for LIG Assets and its shareholders.
More information is available on the company's website at https://ligassets.lovable.app/ and the original press release on www.newmediawire.com.
