LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and paid for a contract to commence Phase I of the S-K 1300 technical evaluation of its approximately 1,132-acre calcium mine in Marianna, Florida. The initial technical work is expected to begin 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, nor the firm hired for the evaluation. The advisor and geologist 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. The company believes completing this process will provide independent technical documentation to evaluate and support the potential value of the Marianna mineral resource.
Management stated, 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 from 2009 estimated the mine's value at approximately $400 million based on about 200 acres and an assumed value of $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 updated technical evaluation is expected to exceed the historical valuation, but final value will depend on confirmed mineral quantities, calcium purity, recoverability, processing costs, market conditions, and findings of independent professionals.
The advisor is also evaluating whether advanced refining technology developed for specialized applications could increase calcium purity up to 99.999999%. If successful, certain specialized calcium products may have significantly higher market values, potentially reaching up to approximately $2,000 per ton, subject to testing and commercial feasibility.
LIG Assets, through Gold Run, Inc., maintains full control over future development and operation of the property. Management added, 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.
They also noted plans to revamp the entire branding and structure of the company to enhance value for shareholders.
For more information, visit the company's website at https://ligassets.lovable.app/ and view the original release on www.newmediawire.com.
