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 an S-K 1300 technical evaluation of its approximately 1,132-acre calcium mine 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 disclosing the names of the top-tier geologist and strategic technical advisor, nor the firm hired for the evaluation. The advisor and geologist have 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 involve reviewing historical geological information, developing testing and sampling procedures, evaluating the calcium resource, and determining additional work needed 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, “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.”
Historical reports from 2009 estimated the mine’s value at approximately $400 million based on roughly 200 acres and an assumed value of about $8.50 per ton. Gold Run now controls approximately 1,132 acres, and management believes current base-market pricing may start at approximately $18.50 per ton. The company expects the updated evaluation to exceed the historical valuation, but final value depends 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 product purity up to 99.999999%. 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 property’s 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.”
This S-K 1300 evaluation marks a key step toward independently documenting the calcium resource’s potential, which could support future strategic partnerships or transactions and help maximize shareholder value.
