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.
Due to existing nondisclosure agreements, the company is not releasing the names of the top-tier geologist and strategic technical advisor or the hired firm, but noted they 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 information, 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 U.S. Completing this process is intended to provide independent technical documentation to support the potential value of the Marianna mineral resource and assist LIG Assets in determining the appropriate financial treatment of the property on its consolidated balance sheet.
Management stated that 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. By completing the work upfront, LIG Assets aims to strengthen its ability to enter discussions with potential strategic partners or purchasers and maximize the property's value for 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 approximately 1,132 acres, and management believes current base-market pricing may begin at around $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, could increase the purity of the calcium product up to 99.999999%. If testing is successful, certain specialized calcium products may have significantly higher market values, potentially reaching up to approximately $2,000 per ton, subject to processing validation and commercial feasibility.
LIG Assets, through Gold Run, Inc., maintains full control over the future development and operation of the property. Management called this an important milestone, adding that the company will be revamping its entire branding and structure to enhance value for shareholders. More updates are expected as Phase I progresses.
For more information, visit the company's website at https://ligassets.lovable.app/.
