LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed 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 contract has been paid in full by wire transfer, and 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, nor the company 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 the 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 this process will provide independent technical documentation to evaluate and support the potential value of the Marianna mineral resource.
Historical reports prepared in 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 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 the findings of independent technical professionals.
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%. 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 higher values remain subject to successful testing, processing validation, customer requirements, and commercial feasibility.
“This is an important milestone for LIG Assets,” said management. “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.” In addition, management stated, “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.”
LIG Assets, through Gold Run, Inc., maintains full control over the future development and operation of the property. The company looks forward to providing additional updates as Phase I progresses when testing begins.
For more information, visit the company's website at https://ligassets.lovable.app/ or view the original release on www.newmediawire.com.
