LIG Assets, Inc. (OTC: LIGA) announced that its subsidiary, Gold Run, Inc., has signed and fully paid for a contract to begin Phase I of the S-K 1300 technical evaluation of its calcium mine in Marianna, Florida. The initial work is expected to commence within weeks.
Phase I will review historical geological data, develop testing procedures, and assess the calcium resource to determine the work needed for a compliant S-K 1300 report. Regulation S-K 1300 sets SEC disclosure standards for mining companies reporting mineral resources and reserves.
Management stated that completing the S-K 1300 process provides independent validation needed for potential transactions. “Any larger publicly traded mining company considering a future acquisition, partnership, or joint venture would likely require this level of independent technical validation,” they said. “Rather than waiting, LIG Assets has chosen to complete the necessary work upfront to strengthen discussions with potential partners and maximize value.”
A 2009 historical report estimated the mine’s value at approximately $400 million based on 200 acres at $8.50 per ton. Gold Run now controls about 1,132 acres, and management believes current base-market pricing starts at roughly $18.50 per ton. The updated evaluation may exceed historical value, but final figures depend on confirmed quantities, purity, recoverability, and market conditions.
The company’s technical advisor is also evaluating advanced refining technology that could increase calcium purity up to 99.999999%. Depending on results, specialized calcium products might reach values up to $2,000 per ton, subject to testing and commercial feasibility.
“This is an important milestone,” management said. “We have completed the contract and payment requirements and are moving into phase 1 of technical validation. The S-K 1300 report is expected to help establish the size, purity, commercial potential, and financial value of this resource.” Additionally, the company plans to revamp its branding and structure to enhance shareholder value.
LIG Assets, through Gold Run, maintains full control over the property’s development. The company will provide updates as Phase I progresses.
