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 weeks, according to a company press release.
Due to nondisclosure agreements, LIG Assets is not disclosing the identities of the geologist and strategic technical advisor, nor the company hired for the evaluation. The selected professionals have experience in top-tier geology, mining engineering, and S-K 1300 and NI 43-101 technical reports, including projects involving the United States Department of Defense.
Phase I will involve reviewing historical geological data, developing testing and sampling procedures, assessing the calcium resource, and determining the additional work required to produce an S-K 1300-compliant technical report. Regulation S-K 1300 sets the SEC's disclosure requirements for publicly traded mining companies reporting mineral resources and reserves in the U.S. Completing this process is intended to provide independent technical documentation to evaluate the potential value of the Marianna resource. Depending on the final report and other factors, the findings may also help LIG Assets determine the appropriate financial treatment of the property on its balance sheet.
Management explained that larger publicly traded mining companies considering future acquisitions, partnerships, or joint ventures involving the property would likely require such independent technical validation. By completing the work upfront, LIG Assets aims to strengthen its position in discussions with potential strategic partners or purchasers, independently validate the resource, and maximize value for shareholders.
Historical reports from 2009 estimated the mine's value at approximately $400 million based on 200 acres and an assumed value of about $8.50 per ton. Gold Run now controls 1,132 acres, and management believes current base-market pricing may start at approximately $18.50 per ton. While the updated evaluation is expected to exceed the historical valuation, the final value will depend on confirmed mineral quantities, calcium purity, recoverability, processing costs, market conditions, and independent professional findings.
The technical advisor is also evaluating whether advanced refining technology, originally developed for specialized applications, could increase calcium purity up to 99.999999%. If successful, certain specialized calcium products could achieve significantly higher market values, potentially up to approximately $2,000 per ton, subject to testing, processing validation, customer requirements, and commercial feasibility.
LIG Assets, through Gold Run, retains full control over the property's development and operation. Management called the contract signing an important milestone and stated that the S-K 1300 report is expected to help establish the size, purity, commercial potential, and appropriate financial value of the calcium resource. Additionally, the company plans to revamp its branding and structure to enhance shareholder value.
Further updates will be provided as Phase I progresses. LIG Assets is a diversified holding company focused on mineral resources, environmental remediation, water-reclamation technologies, sustainable infrastructure, media, and related strategic investments. More information is available at https://ligassets.lovable.app/.
