Idaho Strategic Resources (IDR) 10-Q 16 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 13, 2022
Cover [Abstract]
Entity Registrant Name	IDAHO STRATEGIC RESOURCES, INC
Entity Central Index Key	0001030192
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		11,777,935
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-28837
Entity Incorporation State Country Code	ID
Entity Tax Identification Number	82-0490295
Entity Address Address Line 1	201 N. Third Street
Entity Address City Or Town	Coeur d’Alene
Entity Address Postal Zip Code	83814
City Area Code	208
Local Phone Number	625-9001
Security 12b Title	Common Stock, $0.00 par value
Trading Symbol	IDR
Security Exchange Name	NYSEAMER
Entity Interactive Data Current	Yes
Entity Address State Or Province	ID

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,409,188	$ 1,976,518
Gold sales receivable	806,417	408,187
Inventories	606,073	213,722
Joint venture receivable	2,828	4,442
Other current assets	297,728	334,443
Total current assets	5,122,234	2,937,312
Property, plant and equipment, net of accumulated depreciation	8,243,066	8,255,961
Mineral properties, net of accumulated amortization	6,030,664	5,843,186
Investment in Buckskin	333,059	332,728
Investment in joint venture	435,000	435,000
Reclamation bond	103,320	103,320
Deposits	137,585	11,694
Total assets	20,404,928	17,919,201
Current liabilities:
Accounts payable and accrued expenses	710,534	647,218
Accrued payroll and related payroll expenses	221,719	174,110
Notes payable related parties, current portion	10,957	10,543
Notes payable, current portion	714,401	664,153
Small Business Administration loan and interest, current portion	2,408	2,469
Total current liabilities	1,660,019	1,498,493
Asset retirement obligation	174,864	172,348
Notes payable related parties, long term	95,451	106,068
Convertible debt	0	1,950,000
Notes payable, long term	961,307	961,748
Small Business Administration loan and interest, long term	168,394	166,742
Total long-term liabilities	1,400,016	3,356,906
Total liabilities	3,060,035	4,855,399
Commitments (Note 11)	0	0
Stockholders' equity:
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, no par value, 200,000,000 shares authorized; March 31, 2022-11,749,579 and December 31, 2021- 10,940,969 shares issued and outstanding	30,756,088	26,004,756
Accumulated deficit	(16,288,557)	(15,832,955)
Total Idaho Strategic Resources, Inc stockholders' equity	14,467,531	10,171,801
Non-controlling interest	2,877,362	2,892,001
Total stockholders' equity	17,344,893	13,063,802
Total liabilities and stockholders' equity	$ 20,404,928	$ 17,919,201

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares outstanding	0	0
Common Stock, Par Value	$ 0	$ 0
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	11,749,579	10,940,969
Common Stock, Shares outstanding	11,749,579	10,940,969

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Sales of products	$ 2,044,417	$ 1,586,627
Total revenue	2,044,417	1,586,627
Costs of Sales:
Cost of sales and other direct production costs	1,508,066	1,475,235
Depreciation and amortization	230,208	182,795
Total costs of sales	1,738,274	1,658,030
Gross profit (loss)	306,143	(71,403)
Other operating expenses:
Exploration	396,124	717,707
Management	54,890	201,059
Professional services	79,983	122,651
General and administrative	201,312	513,835
Total other operating expenses	732,309	1,555,252
Operating loss	(426,166)	(1,626,655)
Other (income) expense:
Equity income on investment in Buckskin	331	0
Timber revenue net of costs		(3,603)
Interest income	(526)	(92)
Interest expense	47,760	39,444
Total other expense	46,903	35,749
Net loss	(473,069)	(1,662,404)
Net loss attributable to non-controlling interest	(17,467)	(15,917)
Net loss attributable to Idaho Strategic Resources, Inc	$ (455,602)	$ (1,646,487)
Net loss per common share-basic and diluted	$ (0.04)	$ (0.17)
Weighted average common shares outstanding-basic and diluted	11,187,648	9,833,423

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (473,069)	$ (1,662,404)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	230,208	182,795
Accretion of asset retirement obligation	2,516	2,498
Stock based compensation	$ 0	$ 614,431
Issuance of common stock for services	32,326	2,300
Equity income on investment in Buckskin	$ (331)	$ 0
Change in operating assets and liabilities:
Gold sales receivable	(398,230)	155,622
Inventories	(392,351)	96,961
Joint venture receivable	1,614	1,708
Other current assets	36,715	26,353
Accounts payable and accrued expenses	64,907	(142,954)
Accrued payroll and related payroll expenses	47,609	3,523
Net cash used by operating activities	(848,086)	(719,167)
Cash flows from investing activities:
Purchases of property, plant, and equipment	66,818	57,111
Deposits on equipment	29,891	7,953
Additions to mineral property	192,112	140,716
Net cash used by investing activities	(288,821)	(189,874)
Cash flows from financing activities:
Proceeds from sale of common stock net of issuance cost	(2,701,000)	0
Proceeds from exercise of common stock warrants	68,006	0
Principal payments on notes payable	(192,054)	(111,934)
Principal payments on notes payable, related parties	10,203	9,063
Issuance of convertible debt	0	1,600,000
Contributions from non-controlling interest	2,828	2,469
Net cash provided by financing activities	2,569,577	1,481,472
Net change in cash and cash equivalents	1,432,670	572,431
Cash and cash equivalents, beginning of period	1,976,518	2,539,945
Cash and cash equivalents, end of period	3,409,188	3,112,376
Notes payable for equipment purchase	241,861	$ 761,073
Deposit on equipment paid by lender	96,000
Conversion of convertible debt to common stock	$ 1,950,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders Equity - USD ($)	Total	Common Stock Share (Member)	Common Stock Amoun (Member)	Accumulated Deficit Attributable to Idaho Strategic Resources, Inc. [Member]	Non-Controlling Interest [Member]
Balance, shares at Dec. 31, 2020		9,826,665
Balance, amount at Dec. 31, 2020		$ 20,986,062	$ (12,672,786)	$ 2,950,888	$ 11,264,164
Contribution from non-controlling interest in Mill JV		$ 0	0	2,469	2,469
Issuance of common stock for services, shares	2,300	714
Issuance of common stock for services, amount		$ 2,300	0	0	2,300
Options issued to management, directors, and employees		604,571	0	0	604,571
Options issued for services		$ 9,860	0	0	9,860
Issuance of common stock for cashless option exercise, shares		28,196
Issuance of common stock for cashless option exercise, amount		$ 0	0	0	0
Net loss	$ (1,662,404)	$ 0	(1,646,487)	(15,917)	(1,662,404)
Balance, shares at Mar. 31, 2021		9,855,575
Balance, amount at Mar. 31, 2021		$ 21,602,793	(14,319,273)	2,937,440	10,220,960
Balance, shares at Dec. 31, 2021		10,940,969
Balance, amount at Dec. 31, 2021	$ 10,171,801	$ 26,004,756	(15,832,955)	2,892,001	13,063,802
Contribution from non-controlling interest in Mill JV		$ 0	0	2,828	2,828
Issuance of common stock for services, shares	32,326	3,572
Issuance of common stock for services, amount		$ 32,326	0	0	32,326
Issuance of common stock for cashless option exercise, shares		28,981
Issuance of common stock for cashless option exercise, amount		$ 0	0	0	0
Net loss	$ (473,069)	$ 0	(455,602)	(17,467)	(473,069)
Issuance of common stock for cash net of offering costs, shares		360,134
Issuance of common stock for cash net of offering costs, amount		$ 2,701,000	0	0	2,701,000
Issuance of common stock for warrants exercised, shares		23,057
Issuance of common stock for warrants exercised, amount		$ 68,006	0	0	68,006
Conversion of convertible debt to common stock, shares		392,866
Conversion of convertible debt to common stock, amount		$ 1,950,000	0	0	1,950,000
Balance, shares at Mar. 31, 2022		11,749,579
Balance, amount at Mar. 31, 2022	$ 14,467,531	$ 30,756,088	$ (16,288,557)	$ 2,877,362	$ 17,344,893

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	1. The Company and Significant Accounting Policies These unaudited interim consolidated financial statements have been prepared by the management of Idaho Strategic Resources, Inc (IDR) (the “Company”) in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete consolidated financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair statement of the interim consolidated financial statements have been included. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities known to exist as of the date the financial statements are published, and the reported amounts of revenues and expenses during the reporting period. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of the Company’s financial statements; accordingly, it is possible that the actual results could differ from these estimates and assumptions, which could have a material effect on the reported amounts of the Company’s financial position and results of operations. Operating results for the three-month period ended March 31, 2022, is not necessarily indicative of the results that may be expected for the full year ending December 31, 2022. On December 6, 2021, New Jersey Mining Company changed its name to Idaho Strategic Resources Inc. and also finalized a 1 for 14 reverse stock split of its common stock as previously approved by shareholders at a Special Meeting of the Shareholders held on October 6, 2021. On the date of the reverse stock split, every fourteen (14) shares of New Jersey Mining Company were automatically converted into one issued and outstanding share of Idaho Strategic Resources, Inc. common stock without any change in the par value per share. For further information refer to the financial statements and footnotes thereto in the Company’s audited consolidated financial statements for the year ended December 31, 2021, as filed with the Securities and Exchange Commission. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiary, the New Jersey Mill Joint Venture (“NJMJV”). Intercompany accounts and transactions are eliminated. The portion of entities owned by other investors is presented as non-controlling interests on the consolidated balance sheets and statements of operations. Revenue Recognition Gold Revenue Recognition and Receivables- Sales and accounts receivable for concentrate shipments are recorded net of charges by the customer for treatment, refining, smelting losses, and other charges negotiated with the customers. Charges are estimated upon shipment of concentrates based on contractual terms, and actual charges typically do not vary materially from estimates. Costs charged by customers include fixed costs per ton of concentrate and price escalators. Refining, selling, and shipping costs related to sales of doré and metals from doré are recorded to cost of sales as incurred. See Note 4 for more information on our sales of products. Other Revenue Recognition- Inventories Inventories are stated at the lower of full cost of production or estimated net realizable value based on current metal prices. Costs consist of mining, transportation, and milling costs including applicable overhead, depreciation, depletion and amortization relating to the operations. Costs are allocated based on the stage at which the ore is in the production process. Supplies inventory is stated at the lower of cost or estimated net realizable value. 1. The Company and Significant Accounting Policies (continued) Mine Exploration and Development Costs The Company expenses exploration costs as such in the period they occur. The mine development stage begins once the Company identifies ore reserves which is based on a determination whether an ore body can be economically developed. Expenditures incurred during the development stage are capitalized as deferred development costs and include such costs for drift, ramps, and infrastructure. Costs to improve, alter, or rehabilitate primary development assets which appreciably extend the life, increase capacity, or improve the efficiency or safety of such assets are also capitalized. The development stage ends when the production stage of ore reserves (as defined by the SEC) begins. Amortization of deferred development costs is calculated using the units-of-production method over the expected life of the operation based on the estimated recoverable mineral ounces. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period that are included in earnings are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At March 31, 2022, and December 31, 2021, the Company had no assets or liabilities that required measurement at fair value on a recurring basis. Accounting for Investments in Joint Ventures and Equity Method Investments Investment in Joint Ventures For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. For those joint ventures in which there is joint control between the parties, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations. Equity Method Investments Investments in companies and joint ventures in which we have the ability to exercise significant influence, but do not control, are accounted for under the equity method of accounting. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and representation on governing bodies. Under the equity method of accounting, our share of the net earnings or losses of the investee are included in net income (loss) in the consolidated statements of operations. We evaluate equity method investments whenever events or changes in circumstance indicate the carrying amounts of such investments may be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period. At March 31, 2022, and December 31, 2021, the Company’s 37% common stock holding of Buckskin Gold and Silver, Inc. is accounted for using the equity method (Note 10). At March 31, 2022 and December 31, 2021, the Company’s percentage ownership and method of accounting for each joint venture and equity method investment is as follows: March 31, 2022 December 31, 2021 Joint Venture % Ownership Significant Influence? Accounting Method % Ownership Significant Influence? Accounting Method NJMJV 65% Yes Consolidated 65% Yes Consolidated Butte Highlands Joint Venture (“BHJV”) 50% No Cost 50% No Cost Buckskin Gold and Silver 37% Yes Equity 37% Yes Equity 1. The Company and Significant Accounting Policies (continued) Reclassifications Certain prior period amounts have been reclassified to conform to the 2022 financial statement presentation. Reclassifications had no effect on net income (loss), stockholders’ equity, or cash flows as previously reported. New Accounting Pronouncement Accounting Standards Updates Adopted August 2020, No. 2020 06 470 20 815 40 December 15, 2021,

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Going Concern	2. Going Concern The Company is currently producing from both the open-pit and underground at the Golden Chest Mine. In the past, the Company has been successful in raising required capital from sale of common stock, forward gold contracts, and debt. As a result of its planned production, equity sales and potential debt borrowings or restructurings, management believes cash flows from operations and existing cash are sufficient to conduct planned operations and meet contractual obligations for the next 12 months.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventories
Inventories	3. Inventories At March 31, 2022 and December 31, 2021, the Company’s inventories consisted of the following: March 31, 2022 December 31, 2021 Concentrate inventory In process $ 26,437 $ 41,082 Finished goods 341,626 97,074 Total concentrate inventory 368,063 138,156 Supplies inventory Mine parts and supplies 184,919 54,998 Mill parts and supplies 53,091 20,568 Total supplies inventory 238,010 75,566 Total $ 606,073 $ 213,722 The carrying value of inventory is determined each period based on the lower of cost or net realizable value. At March 31, 2022 and December 31, 2021 gold concentrate is carried at cost.

Sales of Products

Sales of Products	3 Months Ended
	Mar. 31, 2022
Inventories
Sales of Products	4. Sales of Products Our products consist of both gold flotation concentrates which we sell to a single broker (H&H Metal), and an unrefined gold-silver product known as doré which we sell to a precious metal refinery. At March 31, 2022, metals that had been sold but not final settled thus exposed to future price changes totaled 1,205 ounces of gold. The Company has received provisional payments on the sale of these ounces with the remaining amount due reflected in gold sales receivable. Sales of products by metal type for the three-month periods ended March 31, 2022, and 2021 were as follows: March 31, 2022 2021 Gold $ 2,183,024 $ 1,716,616 Silver 3,440 5,080 Less: Smelter and refining charges (142,047 ) (135,069 ) Total $ 2,044,417 $ 1,586,627 Sales by significant product type for the three-month periods ended March 31, 2022, and 2021 were as follows: March 31, 2022 2021 Concentrate sales to H&H Metal $ 2,044,417 $ 1,510,119 Dore sales to refinery - 76,508 Total $ 2,044,417 $ 1,586,627 At March 31, 2022 and December 31, 2021, our gold sales receivable balance related to contracts with customers of $806,417 and $408,187, respectively, consist only of amounts due from H&H Metal. There is no allowance for doubtful accounts.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions
Related Party Transactions	5. Related Party Transactions At March 31, 2022 and December 31, 2021, the Company had the following note payable to related parties: March 31, 2022 December 31, 2021 Ophir Holdings LLC, a company owned by two officers of the Company, 3.99% interest, monthly payments of $1,250 with a balloon payment of $85,016 in February 2024 $ 106,408 $ 116,611 Total 106,408 116,611 Current portion (10,957 ) (10,543 ) Long term portion $ 95,451 $ 106,068 As of March 31, 2022 and December 31, 2021, there was no accrued interest payable to related parties. Related party interest expense for the three-months ended March 31, 2022 and 2021 is $1,129 and $3,181, respectively. The Company leases office space from certain related parties on a month-to-month basis. $1,500 per month is paid to NP Depot, a company owned by the Company’s president, John Swallow. Payments under these short-term lease arrangements are included in general and administrative expenses on the Consolidated Statement of Operations and are as follows: March 31, 2022 $ 6,217 $ 6,210

Joint Venture Arrangements

Joint Venture Arrangements	3 Months Ended
	Mar. 31, 2022
Joint Venture Arrangements
Joint Venture Arrangements	6. Joint Ventures New Jersey Mill Joint Venture Agreement The Company owns 65% of the New Jersey Mill Joint Venture (JV) and has significant influence in its operations. Thus, the venture is included in the consolidated financial statements along with presentation of the non-controlling interest. At March 31, 2022 and December 31, 2021, an account receivable existed with Crescent Silver, LLC, the other joint venture participant (“Crescent”), for $2,828 and $4,442, respectively, for shared operating costs as defined in the JV agreement. Butte Highlands JV, LLC (“BHJV”) On January 29, 2016, the Company purchased a 50% interest in Butte Highlands JV, LLC (“BHJV”) from Timberline Resources Corporation for $225,000 in cash and 3,000,000 restricted shares of the Company’s common stock valued at $210,000 for a total consideration of $435,000. Highland Mining, LLC (“Highland”) is the other 50% owner and manager of the joint venture. Under the agreement, Highland will fund all future project exploration and mine development costs. The agreement stipulates that Highland is manager of BHJV and will manage BHJV until such time as all mine development costs, less $2 million are distributed to Highland out of the proceeds from future mine production. The Company has determined that because it does not currently have significant influence over the joint venture’s activities, it accounts for its investment on a cost basis.

Earing Per Share

Earing Per Share	3 Months Ended
	Mar. 31, 2022
Joint Venture Arrangements
Earnings per Share	7. Earnings per Share For the three-month periods ended March 31, 2022, and 2021, potentially dilutive shares including outstanding stock options (Note 14), warrants (Note 13), and convertible debt (Note 15) were excluded from the computation of diluted loss per share because they were anti-dilutive due to net losses in those periods. For the three-month periods ended March 31, 2022, and 2021, potentially dilutive common stock equivalents excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive are as follows: March 31, 2022 March 31, 2021 Stock options $ 455,386 $ 401,786 Stock purchase warrants 646,410 426,788 Convertible debt - 693,595 Total $ 1,101,796 $ 1,522,169

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment
Property, Plant and Equipment	8. Property, Plant, and Equipment Property, plant and equipment at March 31, 2022 and December 31, 2021 consisted of the following: March 31, 2022 December 31, 2021 Mill Land $ 225,289 $ 225,289 Building 536,193 536,193 Equipment 4,192,940 4,192,940 4,954,422 4,954,422 Less accumulated depreciation (1,128,397 ) (1,085,730 ) Total mill 3,826,025 3,868,692 Building and equipment Buildings 337,859 324,075 Equipment 5,241,810 5,042,915 5,579,669 5,366,990 Less accumulated depreciation (2,030,098 ) (1,847,191 ) Total building and equipment 3,549,571 3,519,799 Land Bear Creek 266,934 266,934 BOW 230,449 230,449 Eastern Star 250,817 250,817 Gillig 79,137 79,137 Highwater 40,133 40,133 Total land 867,470 867,470 Total $ 8,243,066 $ 8,255,961

Mineral Properties

Mineral Properties	3 Months Ended
	Mar. 31, 2022
Mineral Properties
Mineral Properties	9. Mineral Properties Mineral properties at March 31, 2022 and December 31, 2021 consisted of the following: March 31, 2022 December 31, 2021 Golden Chest Mineral Property $ 1,590,672 $ 1,577,669 Infrastructure 1,235,146 1,056,037 Total Golden Chest 2,825,818 2,633,706 New Jersey 248,289 248,289 McKinley-Monarch 200,000 200,000 Butte Potosi 274,440 274,440 Alder Gulch 2,473,066 2,473,066 Park Copper 78,000 78,000 Less accumulated amortization (68,949 ) (64,315 ) Total $ 6,030,664 $ 5,843,186 For the three-month periods ended March 31, 2022, and 2021 $13,003 and $10,186, respectively of interest expense was capitalized in association with the ramp access project at the Golden Chest.

Investment in Buckskin

Investment in Buckskin	3 Months Ended
	Mar. 31, 2022
Investment in Buckskin
Investment in Buckskin	10. Investment in Buckskin In August 2021, the Company exchanged 45,940 shares of the Company’s common stock for 22% of Buckskin Gold and Silver Inc. The Company’s closing share price on the date of the agreement (August 18, 2021) was recorded as the cost basis for the property. In October 2021 the Company exchanged an additional 30,358 shares of the Company’s common stock for an additional 15% of Buckskin. The Company’s closing share price on the date of the exchange (October 15, 2021) was recorded as the cost basis for the investment addition. This investment in Buckskin is being accounted for using the equity method and resulted in recognition of equity income on the investment of $331 during the first quarter of 2022. The Company makes an annual payment of $12,000 to Buckskin per a lease covering 218 acres of patented mining claims. As of March 31, 2022, the Company holds 37% of Buckskin’s outstanding shares.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2022
Notes Payable
Notes Payable	11. Notes Payable At March 31, 2022 and December 31, 2021, notes payable are as follows: March 31, 2022 December 31, 2021 Resimin Muki Bolter, 36-month note payable, 7.00% interest payable monthly through January 2025, monthly payments of $2,176 $ 66,942 $ - Paus 2 yrd. LHD, 48-month note payable, 4.78% interest rate payable through September 2024, monthly payments of $5,181 150,790 164,422 Paus 2 yrd. LHD, 60-month note payable, 3.45% interest rate payable through July 2024, monthly payments of $4,847 130,232 143,547 Compressor, 48-month note payable, 5.25% interest rate payable monthly through January 2022, monthly payments of $813 - 410 CarryAll transport, 36-month note payable, 4.5% interest rate payable monthly through June 2024, monthly payments of $627 16,066 17,752 CarryAll transport, 36-month note payable, 4.5% interest rate payable monthly through February 2024, monthly payments of $303 6,673 7,501 Atlas Copco loader, 60-month note payable, 10.5% interest rate payable monthly through June 2023, monthly payments of $3,550 49,687 58,866 Sandvik LH203 LHD, 36-month note payable, 4.5% interest payable monthly through May 2027, monthly payments of $10,352 255,989 283,955 Doosan Compressor, 36-month note payable, 6.99% interest payable monthly through July 2024, monthly payments of $602 15,544 17,064 Caterpillar 306 excavator, 48-month note payable, 4.6% interest payable monthly through November 2024, monthly payments of $1,512 45,438 49,421 Caterpillar 938 loader, 60-month note payable, 6.8% interest rate payable monthly through August 2023, monthly payments of $3,751 60,626 70,734 Caterpillar R1600 LHD, 48-month note payable, 4.5% interest rate payable through January 2025, monthly payments of $17,125 545,646 590,535 Caterpillar AD22 underground truck, 48-month note payable, 6.45% interest rate payable through June 2023, monthly payments of $12,979 186,215 221,694 2022 Dodge Ram, 75-month note payable, 5.99% interest rate payable monthly through June 2028, monthly payments of $1,152 71,759 - 2016 Dodge Ram, 75-month note payable, 5.99% interest rate payable monthly through June 2028, monthly payments of $1,190 74,101 - Total notes payable 1,675,708 1,625,901 Due within one year 714,401 664,153 Due after one year $ 961,307 $ 961,748 All notes are collateralized by the property or equipment purchased in connection with each note. Future principal payments of notes payable at March 31, 2022 are as follows: 12 months ended March 31, 2023 $ 714,401 2024 575,588 2025 302,911 2026 23,788 2027 25,254 2028 26,809 2029 6,957 Total $ 1,675,708

Small Business Administration L

Small Business Administration Loans	3 Months Ended
	Mar. 31, 2022
Small Business Administration Loans
Small Business Administration Loans	12. Small Business Administration Loans and Grant In the second quarter of 2020 the Company received loans of $159,900 pursuant to the Small Business Act Section 7(b). The loan which was in the form of a Note dated May 16, 2020, matures May 16, 2050, and bears interest at a rate of 3.75% per annum. Payments of $731 are due monthly and will begin in April 2022. At March 31, 2022, and December 31, 2021 accrued interest on the loan was $10,902 and $9,311, respectively and is included in the Small Business Administration Loan balance on the consolidated balance sheet.

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 31, 2022
Small Business Administration Loans
Stockholders' Equity	13. Stockholders’ Equity Stock issuance activity The Company closed a private placement in February 2022. Under the private placement, the Company sold 360,134 units at $7.50 per unit for net proceeds of $2,701,000. Each unit consisted of one share of the Company’s common stock. In the first quarter of 2022 the Company issued 3,572 shares of common stock at $9.05 per share for services provided for a total value of $32,326. Stock Purchase Warrants Outstanding In the first quarter of 2022, 23,057 shares were issued in exchange for outstanding warrants for net proceeds of $68,006. The activity in stock purchase warrants is as follows: Number of Warrants Exercise Prices Balance December 31, 2020 426,788 $2.52-5.60 Issued 289,294 $5.60-7.00 Exercised (46,615 ) $2.52 Balance December 31, 2021 669,467 $2.52-7.00 Exercised (23,057 ) $2.52-5.60 Balance March 31, 2022 646,410 $2.52-7.00 These warrants expire as follows: Shares Exercise Price Expiration Date 13,228 $ 2.52 April 21, 2022 343,888 $ 5.60 August 28, 2022 235,722 $ 5.60 October 14, 2023 53,572 $ 7.00 November 12, 2023 646,410

Stock Options

Stock Options	3 Months Ended
	Mar. 31, 2022
Small Business Administration Loans
Stock Options	14. Stock Options In February 2021, the board granted 283,936 stock options to officers, board members, and employees. These options vested immediately and are exercisable at $5.60 for 3 years. Total stock-based compensation recognized on these options was $604,571. In March 2021, the Company granted 3,572 stock options to an individual for services rendered to the Company. These options vested immediately and are exercisable at $5.60 for 3 years. Total stock-based compensation recognized on these options was $9,860. No options were granted in the first quarter of 2022. The fair value of stock option awards granted, and the key assumptions used in the Black-Scholes valuation model to calculate the fair value of the options are as follows: February 11, 2021 March 15, 2021 Fair value $ 604,572 $ 9,860 Options issued 283,936 3,572 Exercise price $ 5.60 $ 5.60 Expected term (in years) 3.0 3.0 Risk-free rate 0.19 % 0.33 % Volatility 97.9 % 99.3 % In the first quarter of 2022, 51,789 options were exercised in exchange for 28,981 shares at an average price of $9.72 per share in a cashless warrant exercise. Activity in the Company’s stock options is as follows: Number of Options Exercise Prices Balance December 31, 2020 150,000 $ 1.40-1.96 Granted 469,674 $ 5.60 Exercised (101,786 ) $ 1.40-1.96 Forfeited (10,713 ) $ 1.96-5.60 Balance December 31, 2021 507,175 $ 1.96-5.60 Exercised (51,789 ) $ 1.96-5.60 Balance March 31, 2022 455,386 $ 1.96-5.60 Outstanding and exercisable at March 31, 2022 455,386 $ 1.96-5.60 At March 31, 2022, outstanding stock options have a weighted average remaining term of approximately 2.02 years and an intrinsic value of approximately $2,317,000. Intrinsic value of the options exercised for the three-month period ended March 31, 2022, was $134,360.

Convertible Debt

Convertible Debt	3 Months Ended
	Mar. 31, 2022
Convertible Debt
Convertible Debt	15. Convertible Debt The balance of convertible debt at December 31, 2021 consisted of $200,000 convertible to Common shares at a price of $5.60 per share (35,715 shares) and $1,750,000 convertible to Common shares at a price of $4.90 per share (357,151 shares). All of this debt was converted to Common shares as provided in the respective agreements in March 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies (Policies)
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its majority-owned subsidiary, the New Jersey Mill Joint Venture (“NJMJV”). Intercompany accounts and transactions are eliminated. The portion of entities owned by other investors is presented as non-controlling interests on the consolidated balance sheets and statements of operations.
Revenue Recognition	Gold Revenue Recognition and Receivables- Sales and accounts receivable for concentrate shipments are recorded net of charges by the customer for treatment, refining, smelting losses, and other charges negotiated with the customers. Charges are estimated upon shipment of concentrates based on contractual terms, and actual charges typically do not vary materially from estimates. Costs charged by customers include fixed costs per ton of concentrate and price escalators. Refining, selling, and shipping costs related to sales of doré and metals from doré are recorded to cost of sales as incurred. See Note 4 for more information on our sales of products. Other Revenue Recognition-
Inventories	Inventories are stated at the lower of full cost of production or estimated net realizable value based on current metal prices. Costs consist of mining, transportation, and milling costs including applicable overhead, depreciation, depletion and amortization relating to the operations. Costs are allocated based on the stage at which the ore is in the production process. Supplies inventory is stated at the lower of cost or estimated net realizable value.
Mine Exploration and Development Costs	The Company expenses exploration costs as such in the period they occur. The mine development stage begins once the Company identifies ore reserves which is based on a determination whether an ore body can be economically developed. Expenditures incurred during the development stage are capitalized as deferred development costs and include such costs for drift, ramps, and infrastructure. Costs to improve, alter, or rehabilitate primary development assets which appreciably extend the life, increase capacity, or improve the efficiency or safety of such assets are also capitalized. The development stage ends when the production stage of ore reserves (as defined by the SEC) begins. Amortization of deferred development costs is calculated using the units-of-production method over the expected life of the operation based on the estimated recoverable mineral ounces.
Financial Instruments	When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period that are included in earnings are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At March 31, 2022, and December 31, 2021, the Company had no assets or liabilities that required measurement at fair value on a recurring basis.
Accounting for Investments in Joint Ventures and Equity Method Investments	For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. For those joint ventures in which there is joint control between the parties, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations. Investments in companies and joint ventures in which we have the ability to exercise significant influence, but do not control, are accounted for under the equity method of accounting. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and representation on governing bodies. Under the equity method of accounting, our share of the net earnings or losses of the investee are included in net income (loss) in the consolidated statements of operations. We evaluate equity method investments whenever events or changes in circumstance indicate the carrying amounts of such investments may be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period. At March 31, 2022, and December 31, 2021, the Company’s 37% common stock holding of Buckskin Gold and Silver, Inc. is accounted for using the equity method (Note 10). At March 31, 2022 and December 31, 2021, the Company’s percentage ownership and method of accounting for each joint venture and equity method investment is as follows: March 31, 2022 December 31, 2021 Joint Venture % Ownership Significant Influence? Accounting Method % Ownership Significant Influence? Accounting Method NJMJV 65% Yes Consolidated 65% Yes Consolidated Butte Highlands Joint Venture (“BHJV”) 50% No Cost 50% No Cost Buckskin Gold and Silver 37% Yes Equity 37% Yes Equity
Reclassifications	Certain prior period amounts have been reclassified to conform to the 2022 financial statement presentation. Reclassifications had no effect on net income (loss), stockholders’ equity, or cash flows as previously reported.
Recent Accounting Pronouncements	Accounting Standards Updates Adopted August 2020, No. 2020 06 470 20 815 40 December 15, 2021,

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Schedule of Cost Method Investments	March 31, 2022 December 31, 2021 Joint Venture % Ownership Significant Influence? Accounting Method % Ownership Significant Influence? Accounting Method NJMJV 65% Yes Consolidated 65% Yes Consolidated Butte Highlands Joint Venture (“BHJV”) 50% No Cost 50% No Cost Buckskin Gold and Silver 37% Yes Equity 37% Yes Equity

Investment (Table)

Investment (Table)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Investment (Table)	March 31, 2022 December 31, 2021 Concentrate inventory In process $ 26,437 $ 41,082 Finished goods 341,626 97,074 Total concentrate inventory 368,063 138,156 Supplies inventory Mine parts and supplies 184,919 54,998 Mill parts and supplies 53,091 20,568 Total supplies inventory 238,010 75,566 Total $ 606,073 $ 213,722

Sales of Products (Tables)

Sales of Products (Tables)	3 Months Ended
	Mar. 31, 2022
Sales of Products (Tables)
Schedule of sales of products by metal	March 31, 2022 2021 Gold $ 2,183,024 $ 1,716,616 Silver 3,440 5,080 Less: Smelter and refining charges (142,047 ) (135,069 ) Total $ 2,044,417 $ 1,586,627
Schedule of sales by significant product type	March 31, 2022 2021 Concentrate sales to H&H Metal $ 2,044,417 $ 1,510,119 Dore sales to refinery - 76,508 Total $ 2,044,417 $ 1,586,627

Related Party Transactions (Tab

Related Party Transactions (Table)	3 Months Ended
	Mar. 31, 2022
Sales of Products (Tables)
Related Party Transactions (table)	March 31, 2022 December 31, 2021 Ophir Holdings LLC, a company owned by two officers of the Company, 3.99% interest, monthly payments of $1,250 with a balloon payment of $85,016 in February 2024 $ 106,408 $ 116,611 Total 106,408 116,611 Current portion (10,957 ) (10,543 ) Long term portion $ 95,451 $ 106,068 March 31, 2022 $ 6,217 $ 6,210

Earnings per Share (Table)

Earnings per Share (Table)	3 Months Ended
	Mar. 31, 2022
Sales of Products (Tables)
Earnings per Share	March 31, 2022 March 31, 2021 Stock options $ 455,386 $ 401,786 Stock purchase warrants 646,410 426,788 Convertible debt - 693,595 Total $ 1,101,796 $ 1,522,169

Property Plant and Equipment (T

Property Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment
Property, Plant and Equipment	March 31, 2022 December 31, 2021 Mill Land $ 225,289 $ 225,289 Building 536,193 536,193 Equipment 4,192,940 4,192,940 4,954,422 4,954,422 Less accumulated depreciation (1,128,397 ) (1,085,730 ) Total mill 3,826,025 3,868,692 Building and equipment Buildings 337,859 324,075 Equipment 5,241,810 5,042,915 5,579,669 5,366,990 Less accumulated depreciation (2,030,098 ) (1,847,191 ) Total building and equipment 3,549,571 3,519,799 Land Bear Creek 266,934 266,934 BOW 230,449 230,449 Eastern Star 250,817 250,817 Gillig 79,137 79,137 Highwater 40,133 40,133 Total land 867,470 867,470 Total $ 8,243,066 $ 8,255,961

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Mar. 31, 2022
Mineral Properties
Schedule of mineral properties	March 31, 2022 December 31, 2021 Golden Chest Mineral Property $ 1,590,672 $ 1,577,669 Infrastructure 1,235,146 1,056,037 Total Golden Chest 2,825,818 2,633,706 New Jersey 248,289 248,289 McKinley-Monarch 200,000 200,000 Butte Potosi 274,440 274,440 Alder Gulch 2,473,066 2,473,066 Park Copper 78,000 78,000 Less accumulated amortization (68,949 ) (64,315 ) Total $ 6,030,664 $ 5,843,186

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Payable
Schedule of Debt	March 31, 2022 December 31, 2021 Resimin Muki Bolter, 36-month note payable, 7.00% interest payable monthly through January 2025, monthly payments of $2,176 $ 66,942 $ - Paus 2 yrd. LHD, 48-month note payable, 4.78% interest rate payable through September 2024, monthly payments of $5,181 150,790 164,422 Paus 2 yrd. LHD, 60-month note payable, 3.45% interest rate payable through July 2024, monthly payments of $4,847 130,232 143,547 Compressor, 48-month note payable, 5.25% interest rate payable monthly through January 2022, monthly payments of $813 - 410 CarryAll transport, 36-month note payable, 4.5% interest rate payable monthly through June 2024, monthly payments of $627 16,066 17,752 CarryAll transport, 36-month note payable, 4.5% interest rate payable monthly through February 2024, monthly payments of $303 6,673 7,501 Atlas Copco loader, 60-month note payable, 10.5% interest rate payable monthly through June 2023, monthly payments of $3,550 49,687 58,866 Sandvik LH203 LHD, 36-month note payable, 4.5% interest payable monthly through May 2027, monthly payments of $10,352 255,989 283,955 Doosan Compressor, 36-month note payable, 6.99% interest payable monthly through July 2024, monthly payments of $602 15,544 17,064 Caterpillar 306 excavator, 48-month note payable, 4.6% interest payable monthly through November 2024, monthly payments of $1,512 45,438 49,421 Caterpillar 938 loader, 60-month note payable, 6.8% interest rate payable monthly through August 2023, monthly payments of $3,751 60,626 70,734 Caterpillar R1600 LHD, 48-month note payable, 4.5% interest rate payable through January 2025, monthly payments of $17,125 545,646 590,535 Caterpillar AD22 underground truck, 48-month note payable, 6.45% interest rate payable through June 2023, monthly payments of $12,979 186,215 221,694 2022 Dodge Ram, 75-month note payable, 5.99% interest rate payable monthly through June 2028, monthly payments of $1,152 71,759 - 2016 Dodge Ram, 75-month note payable, 5.99% interest rate payable monthly through June 2028, monthly payments of $1,190 74,101 - Total notes payable 1,675,708 1,625,901 Due within one year 714,401 664,153 Due after one year $ 961,307 $ 961,748
Schedule of Maturities of Long-term Debt	All notes are collateralized by the property or equipment purchased in connection with each note. Future principal payments of notes payable at March 31, 2022 are as follows: 12 months ended March 31, 2023 $ 714,401 2024 575,588 2025 302,911 2026 23,788 2027 25,254 2028 26,809 2029 6,957 Total $ 1,675,708

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Equity (Tables)
Common Stock Purchase Warrant Transactions	The activity in stock purchase warrants is as follows: Number of Warrants Exercise Prices Balance December 31, 2020 426,788 $2.52-5.60 Issued 289,294 $5.60-7.00 Exercised (46,615 ) $2.52 Balance December 31, 2021 669,467 $2.52-7.00 Exercised (23,057 ) $2.52-5.60 Balance March 31, 2022 646,410 $2.52-7.00
Warrant Expirations	These warrants expire as follows: Shares Exercise Price Expiration Date 13,228 $ 2.52 April 21, 2022 343,888 $ 5.60 August 28, 2022 235,722 $ 5.60 October 14, 2023 53,572 $ 7.00 November 12, 2023 646,410

Stock Options (Table)

Stock Options (Table)	3 Months Ended
	Mar. 31, 2022
Equity (Tables)
Stock Options taqble textblock	February 11, 2021 March 15, 2021 Fair value $ 604,572 $ 9,860 Options issued 283,936 3,572 Exercise price $ 5.60 $ 5.60 Expected term (in years) 3.0 3.0 Risk-free rate 0.19 % 0.33 % Volatility 97.9 % 99.3 % Number of Options Exercise Prices Balance December 31, 2020 150,000 $ 1.40-1.96 Granted 469,674 $ 5.60 Exercised (101,786 ) $ 1.40-1.96 Forfeited (10,713 ) $ 1.96-5.60 Balance December 31, 2021 507,175 $ 1.96-5.60 Exercised (51,789 ) $ 1.96-5.60 Balance March 31, 2022 455,386 $ 1.96-5.60 Outstanding and exercisable at March 31, 2022 455,386 $ 1.96-5.60

The Company and Significant Acc

The Company and Significant Accounting Policies (Details)	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Investment Owned, Percent of Net Assets	65.00%	65.00%
Investment owned percentage of net assets 2	50.00%	50.00%
Investment owned percentage of net assets 3	37.00%	37.00%

The Company and Significant A_2

The Company and Significant Accounting Policies (Details Narrative)	3 Months Ended
	Mar. 31, 2022
Consolidated Balance Sheets
Significant Accounting Policies description	finalized a 1 for 14 reverse stock split of its common
Equity Method Investments description	Company’s 37% common stock holding of Buckskin Gold and Silver

Inventories (Details)

Inventories (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Total concentrate inventory	$ 368,063	$ 138,156
Total supplies inventory	238,010	75,566
Total	606,073	213,722
Concentrate Inventory
In process	26,437	41,082
Finished Goods
Finished goods	341,626	97,074
Mine Parts And Supplies
Mine parts and supplies	184,919	54,998
Mill Parts And Supplies
Mine parts and supplies	$ 53,091	$ 20,568

Sales of Products (Details)

Sales of Products (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Consolidated Balance Sheets
Gold sales	$ 2,183,024		$ 1,716,616
Silver sales	3,440		5,080
Smelter and refining charges	(142,047)		(135,069)
Total	$ 2,044,417	$ 1,586,627	$ 1,586,627

Sales of Products (Details1)

Sales of Products (Details1) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Consolidated Balance Sheets
Concentrate sales	$ 2,044,417	$ 1,510,119
Dore sales	0	76,508
Total	$ 2,044,417	$ 1,586,627	$ 1,586,627

Sales of Products (Details Narr

Sales of Products (Details Narrative) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Gold sales receivable	$ 806,417	$ 408,187

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Notes payable related parties, long term	$ 95,451	$ 106,068
Ophir Holdings LLC
Notes payable related parties, long term		106,408	$ 116,611
Total		106,408	116,611
Current portion		10,957	10,543
Long term portion		$ 95,451	$ 106,068

Related Party Transactions (D_2

Related Party Transactions (Details 1) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
General and administrative expenses	$ 6,217	$ 6,210

Related Party Transactions (D_3

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Interest Expense	$ 1,129	$ 3,181
Monthely rent paid	$ 1,500

6 Joint Ventures (Details)

6 Joint Ventures (Details)	3 Months Ended
	Mar. 31, 2022
New Jersey Mill
Equity Method Investment, Additional Information	The Company owns 65% of the New Jersey Mill Joint Venture (JV) and has significant influence in its operations.
Butte Highlands JV, LLC
Equity Method Investment, Additional Information	On January 29, 2016, the Company purchased a 50% interest in Butte Highlands JV, LLC (“BHJV”) from Timberline Resources Corporation for $225,000 in cash and 3,000,000 restricted shares of the Company’s common stock valued at $210,000 for a total consideration of $435,000.

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consolidated Balance Sheets
Stock options	455,386	401,786
Stock purchase warrants	646,410	426,788
Convertible debt		693,595
Total	1,101,796	1,522,169

Property Plant and Equipment (D

Property Plant and Equipment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment
Mill land	$ 225,289	$ 225,289
Mill building	536,193	536,193
Buildings and equipment, equipment	4,192,940	4,192,940
Buildings and improvements net	4,954,422	4,954,422
Buildings and improvements, accumulated depreciation	(1,128,397)	(1,085,730)
Total mill	3,826,025	3,868,692
Bear Creek Land	266,934	266,934
BOW Land	230,449	230,449
Eastern Star Land	250,817	250,817
Gillig Land	79,137	79,137
Highwater Land	40,133	40,133
Land	867,470	867,470
Total Land	8,243,066	8,255,961
Milling equipment	5,241,810	5,042,915
Mill property and equipment gross	4,954,422	5,366,990
Mill buildings and improvements, accumulated depreciation	(2,030,098)	(1,847,191)
Mill Buildings and Improvements, Net	3,549,571	3,519,799
Buildings and equipment, buildings	$ 337,859	$ 324,075

Mineral Properties (Details)

Mineral Properties (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Mineral Properties
Golden Chest Mineral Property	$ 1,590,672	$ 1,577,669
Infrastructure	1,056,037	1,056,037
Total Golden Chest	2,825,818	2,633,706
Mineral Properties 1	248,289	248,289
Mineral Properties 2	200,000	200,000
Mineral Properties 3	274,440	274,440
Mineral Properties 4	2,473,066	2,473,066
Mineral Properties 5	78,000	78,000
Mineral properties amortization	(68,949)	(48,267)
Total	$ 6,030,664	$ 5,843,186

Mineral Properties (Details Nar

Mineral Properties (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Mineral Properties
Interest expense	$ 13,003	$ 10,186

Investment in Buckskin (Details

Investment in Buckskin (Details Narrative) - Buckskin - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Aug. 31, 2011
Additional Paid in Capital, Common Stock			$ 30,358
Investment Income	$ 331
Annual payment	$ 12,000
Percent of common stock		37.00%
Additional common stock percentage			15.00%
Ownership interest				22.00%

Notes Payable (Details)

Notes Payable (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Note Payable through Juune 2028 [Member]
Total notes payable	$ 71,759	$ 0
Monthly payment	$ 1,152
Interest rate	5.99%
Note Payable through Juune 2028 [Member]
Total notes payable	$ 74,101	0
Monthly payment	$ 1,190
Interest rate	5.99%
Note Payable through July 2024 [Member]
Total notes payable	$ 130,232	143,547
Monthly payment	$ 4,847
Interest rate	3.45%
Note Payable through September 2024 [Member]
Total notes payable	$ 150,790	164,422
Monthly payment	$ 5,181
Interest rate	4.78%
Note Payable through January 2022 [Member]
Total notes payable	$ 0	410
Monthly payment	$ 813
Interest rate	5.25%
Note Payable through June 2024 [Member]
Total notes payable	$ 16,066	17,752
Monthly payment	$ 627
Interest rate	4.50%
Note Payable through February 2024 [Member]
Total notes payable	$ 6,673	7,501
Monthly payment	$ 303
Interest rate	4.50%
Note Payable through June 2023 [Member]
Total notes payable	$ 49,687	58,866
Monthly payment	$ 3,550
Interest rate	10.50%
Note Payable through May 2027 [Member]
Total notes payable	$ 255,989	283,955
Monthly payment	$ 10,352
Interest rate	4.50%
Note Payable through July 2024 One [Member]
Total notes payable	$ 15,544	17,064
Monthly payment	$ 602
Interest rate	6.99%
Note Payable through November 2024 [Member]
Total notes payable	$ 45,438	49,421
Monthly payment	$ 1,512
Interest rate	4.60%
Note Payable through January 2025 [Member]
Total notes payable	$ 66,942	0
Monthly payment	$ 2,176
Interest rate	7.00%
Note Payable through August 2023 [Member]
Total notes payable	$ 60,626	70,734
Monthly payment	$ 3,751
Interest rate	6.80%
Note Payable through January 2025 [Member]
Total notes payable	$ 545,646	590,535
Monthly payment	$ 17,125
Interest rate	4.50%
Note Payable through June 2023 One [Member]
Total notes payable	$ 186,215	$ 221,694
Monthly payment	$ 12,979
Interest rate	6.00%

Notes Payable Schedule of Futur

Notes Payable Schedule of Future of Principle Payment of Debt (Details)	Dec. 31, 2021USD ($)
Consolidated Balance Sheets
2023	$ 714,401
2024	575,588
2025	302,911
2026	23,788
2027	25,254
2028	26,809
2029	6,957
Total	$ 1,675,708

Small Business Administration_2

Small Business Administration Loans and Grant (Details Narrative) - SBA loan - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	May 16, 2020	Mar. 31, 2022	Dec. 31, 2021
Proceeds from Loans	$ 159,900
Payments	$ 731
Accrued interest on the remaining		$ 10,902	$ 9,311
Bears interest	3.75%

Stockholders Equity (Details)

Stockholders Equity (Details) - Warrant [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Beginning balance	669,467	426,788
Warrants issued	0	289,294
Warrants Exercised	23,057	46,615
Ending balance	646,410	669,467
Warrants exercied	$ 2.52	$ 2.80
Minimum [Member]
Beginning balance	2.52	2.52
Warrants issued	5.60	2.52
Warrants expired	0	2.52
Ending balance		2.52
Maximum [Member]
Beginning balance	2.52	3.08
Warrants issued	7
Warrants expired	$ 0	3.08
Ending balance		$ 2.52
Exercise Price 5.60 [Member]
Beginning balance	343,888
Ending balance		343,888
Beginning balance	$ 5.60
Ending balance		$ 5.60
Exercise Price One 5.60 [Member]
Beginning balance	235,722
Ending balance		235,722
Beginning balance	$ 5.60
Ending balance		$ 5.60
Exercise Price 7.00 [Member]
Beginning balance	53,572
Ending balance		53,572
Beginning balance	$ 7
Ending balance		$ 7
Exercise Price 2.52 [Member]
Beginning balance	13,228
Ending balance		13,228
Beginning balance	$ 2.52
Ending balance		$ 2.52

Stockholders Equity (Details 1)

Stockholders Equity (Details 1) - Warrant [Member] - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of shares	646,410	669,467	426,788
Exercise Price 5.60 [Member]
Number of shares		343,888
Exercise price		$ 5.60
Warrant expiration date		Aug. 28, 2022
Exercise Price One 5.60 [Member]
Number of shares		235,722
Exercise price		$ 5.60
Warrant expiration date		Oct. 14, 2023
Exercise Price 7.00 [Member]
Number of shares		53,572
Exercise price		$ 7
Warrant expiration date		Nov. 12, 2023
Exercise Price 2.52 [Member]
Number of shares		13,228
Exercise price		$ 2.52
Warrant expiration date		Apr. 21, 2022

Stock Options (Details)

Stock Options (Details) - $ / shares	Mar. 15, 2021	Feb. 11, 2021	Oct. 31, 2021	Mar. 31, 2021	Feb. 28, 2021
Consolidated Balance Sheets
Fair value options	9,860	604,572
Options issued	3,572	283,936	3,572	3,572	283,936
Exercise price	$ 5.60	$ 5.60	$ 5.60	$ 5.60	$ 5.60
Expected term (in years)	3.0	3.0
Risk-free rate	0.33%	0.19%
Expected volatility	99.30%	97.90%

Stock Options (Details 1)

Stock Options (Details 1) - $ / shares	Mar. 15, 2021	Feb. 11, 2021	Oct. 31, 2021	Mar. 31, 2021	Feb. 28, 2021	Mar. 31, 2022	Dec. 31, 2021
Stock Options Granted	3,572	283,936	3,572	3,572	283,936
Equity Option [Member]
Beginning balance						507,175	150,000
Stock Options Granted						0	469,674
Stock Options Exercised						51,789	101,786
Stock Options Expired						0	0
Stock Options Forfeited						0	(10,713)
Ending balance						455,386	507,175
Exercise price granted						$ 5.60
Equity Option [Member] | Minimum [Member]
Beginning balance						1.40	$ 1.40
Exercise price expired							1.40
Exercise price exercised						1.40	1.40
Exercise price forfeited						1.96
Ending balance						1.96	1.40
Excercise price exercisable						1.96
Equity Option [Member] | Maximum [Member]
Beginning balance						1.96	2.52
Exercise price expired							2.52
Exercise price exercised						1.96	2.52
Exercise price forfeited						5.60
Ending balance						5.60	$ 1.96
Excercise price exercisable						$ 5.60

Stock Options (Details Narrativ

Stock Options (Details Narrative) - USD ($)	Mar. 15, 2021	Feb. 11, 2021	Oct. 31, 2021	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2021
Consolidated Balance Sheets
Granted Stock Option	3,572	283,936	3,572	3,572	283,936
Exercise price per share	$ 5.60	$ 5.60	$ 5.60	$ 5.60	$ 5.60
stock-based compensation recognized			$ 604,571	$ 9,860	$ 604,571
Intrinsic Value Outstanding						$ 2,317,000
Weighted average remaining term			2 years 7 days

Convertible Debt (Details Narra

Convertible Debt (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Promissory note 1
Notes Payble		$ 200,000
Shares contingently issuable		35,715
Common stock at a price		$ 5.60
Promissory note 2
Notes Payble		$ 1,750,000
Shares contingently issuable	357,151
Common stock at a price	$ 4.90