LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and 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 work is expected to start within weeks, marking a key step toward independent validation of the mineral resource.
Regulation S-K 1300 establishes the SEC’s disclosure requirements for publicly traded mining companies reporting material mineral resources and reserves. Management stated that completing the S-K 1300 process will provide independent technical documentation needed to evaluate and support the potential value of the property. The findings may also assist in determining the appropriate financial treatment on the company’s consolidated balance sheet.
Due to nondisclosure agreements, the company is not releasing the names of the top-tier geologist and technical advisor hired, but noted they have experience in S-K 1300 reports, NI 43-101 technical reports, and projects involving the U.S. Department of Defense. Phase I will review historical geological data, develop testing procedures, and determine additional work required for a compliant report.
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 $18.50 per ton. The company expects the updated evaluation to exceed the historical valuation, though final value depends on confirmed mineral quantities, calcium purity, recoverability, processing costs, and market conditions.
The advisor is also evaluating whether advanced refining technology could increase calcium purity up to 99.999999%, potentially opening higher-value commercial applications. Depending on purity, certain specialized calcium products may reach approximately $2,000 per ton, subject to successful testing and commercial feasibility.
“Any larger publicly traded mining company considering a future acquisition, partnership, or joint venture would likely require this level of independent technical validation,” management stated. “Rather than waiting, we have chosen to complete the necessary work upfront to strengthen our ability to enter discussions with potential strategic partners and maximize value for shareholders.”
LIG Assets maintains full control over the property’s development and operation. The company also announced plans to revamp its branding and structure to enhance shareholder value.
For more information, visit the company’s website at https://ligassets.lovable.app/.
