Searchlight Minerals (SRCH) 10-Q 19 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 13, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Entity Registrant Name	'Searchlight Minerals Corp.	'
Entity Central Index Key	'0001084226	'
Current Fiscal Year End Date	'--12-31	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	135,768,318

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash	$37,473	$2,065,824
Prepaid expenses	86,650	137,603
Assets held for sale	245,000	0
Total current assets	369,123	2,203,427
Property and equipment, net	8,471,537	9,455,439
Deferred financing fees	109,053	120,236
Reclamation bond and deposits, net	13,891	14,241
Total non-current assets	156,543,701	157,513,296
Total assets	156,912,824	159,716,723
Current liabilities	'	'
Accounts payable and accrued liabilities	799,104	195,541
Accounts payable - related party	158,703	46,535
Derivative warrant liability	3,634	81,574
VRIC payable, current portion - related party	349,985	290,156
Total current liabilities	1,311,426	613,806
Long-term liabilities	'	'
VRIC payable, net of current portion - related party	559,976	713,965
Convertible notes, net of discount	2,906,181	2,798,506
Derivative liability - convertible debt	629,854	755,709
Deferred tax liability	36,016,674	37,322,971
Total long-term liabilities	40,112,685	41,591,151
Total liabilities	41,424,111	42,204,957
Commitments and contingencies - Note 16	'	'
Stockholders' equity	'	'
Common stock, $0.001 par value; 400,000,000 shares authorized, 135,768,318 and 135,768,318 shares, respectively, issued and outstanding	135,768	135,768
Additional paid-in capital	154,319,851	154,268,204
Accumulated deficit	-38,966,906	-36,892,206
Total stockholders' equity	115,488,713	117,511,766
Total liabilities and stockholders' equity	156,912,824	159,716,723
Mining Claims [Member]	'	'
Current assets	'	'
Mineral properties	16,947,419	16,947,419
Slag Project [Member]	'	'
Current assets	'	'
Mineral properties	121,785,651	121,759,811
Smelter Site and Slag Pile [Member]	'	'
Current assets	'	'
Land	5,916,150	5,916,150
Remaining Amount [Member]	'	'
Current assets	'	'
Land	$3,300,000	$3,300,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Common stock, par value per share	$0.00	$0.00
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	135,768,318	135,768,318
Common stock, shares outstanding	135,768,318	135,768,318

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue	$0	$0	$0	$0
Operating expenses	'	'	'	'
Administrative - Clarkdale site	29,796	68,996	49,832	110,349
Loss on assets held for sale	45,115	0	45,115	0
Depreciation	379,169	342,288	757,993	684,396
Total operating expenses	1,630,214	1,727,158	3,341,283	3,481,343
Loss from operations	-1,630,214	-1,727,158	-3,341,283	-3,481,343
Other income (expense)	'	'	'	'
Rental revenue	8,290	6,480	15,670	12,615
Change in fair value of derivative liabilities	5,298	60,843	203,795	274,706
Interest expense	-129,698	-2,353	-259,695	-2,353
Interest and dividend income	13	585	516	1,916
Total other income (expense)	-116,097	65,555	-39,714	286,884
Loss before income taxes	-1,746,311	-1,661,603	-3,380,997	-3,194,459
Income tax benefit	582,910	547,979	1,306,297	1,144,606
Net loss	-1,163,401	-1,113,624	-2,074,700	-2,049,853
Comprehensive loss	-1,163,401	-1,113,624	-2,074,700	-2,049,853
Loss per common share - basic and diluted	'	'	'	'
Net loss	($0.01)	($0.01)	($0.02)	($0.02)
Weighted average common shares outstanding -	'	'	'	'
Basic	135,768,318	135,768,318	135,768,318	135,768,318
Diluted	135,768,318	135,768,318	135,768,318	135,768,318
All Other [Member]	'	'	'	'
Operating expenses	'	'	'	'
Mineral and exploration expense - related party	495,072	672,262	1,085,766	1,240,790
General and administrative	567,629	569,745	1,158,300	1,254,021
Related Party Transactions [Member]	'	'	'	'
Operating expenses	'	'	'	'
Mineral and exploration expense - related party	76,184	50,078	155,560	109,442
General and administrative	$37,249	$23,789	$88,717	$82,345

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net loss	($2,074,700)	($2,049,853)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation	757,993	684,396
Stock based expenses	51,647	195,281
Loss on assets held for sale	45,115	0
Amortization of prepaid expense	211,480	175,862
Amortization of debt financing fees and debt discount	118,858	0
Deferred income taxes	-1,306,297	-1,144,606
Change in fair value of derivative liabilities	-203,795	-274,706
Changes in operating assets and liabilities:	'	'
Prepaid expenses	-160,527	-136,033
Reclamation bond and deposits	350	-3,664
Accounts payable and accrued liabilities	715,731	-235,649
Net cash used in operating activities	-1,844,145	-2,788,972
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Purchase of property and equipment	-64,206	-101,950
Net cash used in investing activities	-64,206	-101,950
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Payments on VRIC payable - related party	-120,000	-180,000
Net cash used in financing activities	-120,000	-180,000
NET CHANGE IN CASH	-2,028,351	-3,070,922
CASH AT BEGINNING OF PERIOD	2,065,824	3,931,591
CASH AT END OF PERIOD	37,473	860,669
SUPPLEMENTAL INFORMATION	'	'
Interest paid, net of capitalized amounts	$71,304	$2,353

DESCRIPTION_OF_BUSINESS_HISTOR

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES	'
		1	DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES
	Description of business - Searchlight Minerals Corp. (the “Company”) has been in the exploration stage since its formation, and the Company has not yet realized any revenues from its planned operations. The Company is primarily focused on the exploration, acquisition and development of mining and mineral properties. Upon the location of commercially minable reserves, the Company plans to prepare for mineral extraction and enter the development stage.
	History - The Company was incorporated on January 12, 1999 pursuant to the laws of the State of Nevada under the name L.C.M. Equity, Inc. From 1999 to 2005, the Company operated primarily as a biotechnology research and development company with its headquarters in Canada and an office in the United Kingdom (the “UK”). On November 2, 2001, the Company entered into an acquisition agreement with Regma Bio Technologies, Ltd. pursuant to which Regma Bio Technologies, Ltd. entered into a reverse merger with the Company with the surviving entity named “Regma Bio Technologies Limited”. On November 26, 2003, the Company changed its name from “Regma Bio Technologies Limited” to “Phage Genomics, Inc” (“Phage”).
	In February 2005, the Company announced its reorganization from a biotechnology research and development company to a company focused on the development and acquisition of mineral properties. In connection with its reorganization the Company entered into mineral option agreements to acquire an interest in the Searchlight Claims. Also in connection with its corporate restructuring, its Board of Directors approved a change in its name from Phage to "Searchlight Minerals Corp.” effective June 23, 2005.
	Going concern - The accompanying unaudited condensed consolidated financial statements were prepared on a going concern basis in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The going concern basis of presentation assumes that the Company will continue in operation for the next twelve months and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the Company’s inability to continue as a going concern. The Company’s history of losses, working capital deficit, capital deficit, minimal liquidity and other factors raise substantial doubt about the Company’s ability to continue as a going concern. In order for the Company to continue operations beyond the next twelve months and be able to discharge its liabilities and commitments in the normal course of business it must raise additional equity or debt capital and continue cost cutting measures. There can be no assurance that the Company will be able to achieve sustainable profitable operations or obtain additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to management.
	If the Company continues to incur operating losses and does not raise sufficient additional capital, material adverse events may occur including, but not limited to, 1) a reduction in the nature and scope of the Company’s operations and 2) the Company’s inability to fully implement its current business plan. There can be no assurance that the Company will successfully improve its liquidity position. The accompanying unaudited condensed consolidated financial statements do not reflect any adjustments that might be required resulting from the adverse outcome relating to this uncertainty.
	As of June 30, 2014, the Company had cumulative net losses of $38,966,906 from operations and had not commenced its commercial mining and mineral processing operations; rather it is still in the exploration stage. For the six month period ended June 30, 2014, the Company incurred a net loss of $2,074,700, had negative cash flows from operating activities of $1,844,145 and will incur additional future losses due to planned continued exploration expenses. In addition, the Company had a working capital deficit totaling $942,303 at June 30, 2014.
	To address liquidity constraints, the Company will seek additional sources of capital through the issuance of equity or debt financing. Additionally, the Company has reduced expenses and elected to defer payment of certain obligations. Cash conservation measures include, but are not limited to, the deferred payment of outsourced consulting fees where available, deferred payment of current and future board fees and reduction of staffing levels. The Company reduced staffing levels from December 31, 2013 through June 2014, constituting annual savings of approximately $313,000. The Company has deferred payment of officer salaries, monthly legal retainer fees, and the Verde River Iron Company, LLC (“VRIC”) monthly payable. These activities have reduced the required cash outlay of the Company’s business significantly. The Company is focused on continuing to reduce costs and obtaining additional funding. There is no assurance that such funding will be available on terms acceptable to the Company, or at all. If the Company raises additional funds by selling additional shares of capital stock, securities convertible into shares of capital stock or the issuance of convertible debt, the ownership interest of the Company’s existing common stock holders will be diluted.
	Basis of presentation - The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company’s fiscal year-end is December 31.
	These condensed consolidated financial statements have been prepared without audit in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments and disclosures necessary for the fair presentation of these interim statements have been included. All such adjustments are, in the opinion of management, of a normal recurring nature. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC on March 28, 2014.
	Principles of consolidation - The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Clarkdale Minerals, LLC (“CML”) and Clarkdale Metals Corp. (“CMC”). Significant intercompany accounts and transactions have been eliminated.
	Use of estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include the valuation of stock-based compensation and derivative liabilities, impairment analysis of long-lived assets, and realizability of deferred tax assets. Actual results could differ from those estimates.
	Capitalized interest cost - The Company capitalizes interest cost related to acquisition, development and construction of property and equipment which is designed as integral parts of the manufacturing process. The capitalized interest is recorded as part of the asset it relates to and will be amortized over the asset’s useful life once production commences.
	Mineral properties - Costs of acquiring mineral properties are capitalized upon acquisition. Exploration costs and costs to maintain mineral properties are expensed as incurred while the project is in the exploration stage. Once mineral reserves are established, development costs and costs to maintain mineral properties are capitalized as incurred while the property is in the development stage. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production method over the proven and probable reserves.
	Mineral exploration and development costs - Exploration expenditures incurred prior to entering the development stage are expensed and included in mineral exploration and evaluation expense.
	Property and equipment - Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 39 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operating expenses.
	Impairment of long-lived assets - The Company reviews and evaluates its long-lived assets for impairment at each balance sheet date due to its planned exploration stage losses and documents such impairment testing. Mineral properties in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the property, exploration reports, drill results, technical reports and continued plans to fund exploration programs on the property.
	The tests for long-lived assets in the exploration, development or production stage that would have a value beyond proven and probable reserves would be monitored for impairment based on factors such as current market value of the mineral property and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net cash flows expected to be generated by the asset, including evaluating its reserves beyond proven and probable amounts.
	The Company's policy is to record an impairment loss in the period when it is determined that the carrying amount of the asset may not be recoverable either by impairment or by abandonment of the property. The impairment loss is calculated as the amount by which the carrying amount of the assets exceeds its fair value. To date, no such impairments have been identified.
	Deferred financing fees – Deferred financing fees represent fees paid in connection with obtaining debt financing. These fees are amortized using the effective interest method over the term of the financing.
	Convertible notes – derivative liabilities – The Company evaluates the embedded features of convertible notes to determine if they are required to be bifurcated and recorded as a derivative liability. If more than one feature is required to be bifurcated, the features are accounted for as a single compound derivative. The fair value of the compound derivative is recorded as a derivative liability and a debt discount. The carrying value of the convertible notes was recorded on the date of issuance at its original value less the fair value of the compound derivative.
	The derivative liability is measured at fair value on a recurring basis with changes reported in other income (expense). Fair value is determined using a model which incorporates estimated probabilities and inputs calculated by both the Binomial Lattice model and present values. The debt discount is amortized to non-cash interest expense using the effective interest method over the life of the notes. If a conversion of the underlying note occurs, a proportionate share of the unamortized amount is immediately expensed.
	Reclamation and remediation costs - For its exploration stage properties, the Company accrues the estimated costs associated with environmental remediation obligations in the period in which the liability is incurred or becomes determinable. Until such time that a project life is established, the Company records the corresponding cost as an exploration stage expense. The costs of future expenditures for environmental remediation are not discounted to their present value unless subject to a contractually obligated fixed payment schedule.
	Future reclamation and environmental-related expenditures are difficult to estimate in many circumstances due to the early stage nature of the exploration project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation or remediation technology. The Company periodically reviews accrued liabilities for such reclamation and remediation costs as evidence indicating that the liabilities have potentially changed becomes available. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised.
	The Company is in the exploration stage and is unable to determine the estimated timing of expenditures relating to reclamation accruals. It is reasonably possible that the ultimate cost of reclamation and remediation could change in the future and that changes to these estimates could have a material effect on future operating results as new information becomes known.
	Fair value of financial instruments - The Company’s financial instruments consist principally of derivative liabilities and the VRIC payable. Assets and liabilities measured at fair value are categorized based on whether the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels defined as follows:
	Level 1		Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2		Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
	Level 3		Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	The Company’s financial instruments consist of the VRIC payable (described in Note 10) and derivative liabilities. The VRIC payable is classified within Level 2 of the fair value hierarchy. The fair value approximates carrying value as the imputed interest rate is considered to approximate a market interest rate.
	The Company calculates the fair value of its derivative liabilities using various models which are all Level 3 inputs. The fair value of the derivative warrant liability (described in Note 7) is calculated using the Binomial Lattice model, and the fair value of the derivative liability - convertible notes (described in Note 9) is calculated using a model which incorporates estimated probabilities and inputs calculated by both the Binomial Lattice model and present values. The change in fair value of the derivative liabilities is classified in other income (expense) in the consolidated statement of operations. The Company generally does not use derivative financial instruments to hedge exposures to cash flow, market or foreign currency risks.
	There has been no change in the valuation technique used for the derivative warrant liability since its inception. The valuation technique for the derivative liability – convertible debt was adopted upon its inception, in the third quarter of 2013. The Company does not have any non-financial assets or liabilities that it measures at fair value. During the six month periods ended June 30, 2014 and 2013, there were no transfers of assets or liabilities between levels.
	Per share amounts - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities. Potentially dilutive shares, such as stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock and when a net loss is reported. The dilutive effect of convertible debt securities is reflected in the diluted earnings (loss) per share calculation using the if-converted method. Conversion of the debt securities is not assumed for purposes of calculating diluted earnings (loss) per share if the effect is anti-dilutive. At June 30, 2014 and 2013, 36,845,320 and 26,300,390 stock options, warrants and common shares issuable upon the conversion of notes were outstanding, respectively, but were not considered in the computation of diluted earnings per share as their inclusion would be anti-dilutive.
	Stock-based compensation - Stock-based compensation awards are recognized in the consolidated financial statements based on the grant date fair value of the award which is estimated using the Binomial Lattice option pricing model. The Company believes that this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for the actual exercise behavior of option holders. The compensation cost is recognized over the requisite service period which is generally equal to the vesting period. Upon exercise, shares issued will be newly issued shares from authorized common stock.
	The fair value of performance-based stock option grants is determined on their grant date through the use of the Binomial Lattice option pricing model. The total value of the award is recognized over the requisite service period only if management has determined that achievement of the performance condition is probable. The requisite service period is based on management’s estimate of when the performance condition will be met. Changes in the requisite service period or the estimated probability of achievement can materially affect the amount of stock-based compensation recognized in the financial statements.
	The Company accounts for stock options issued to non-employees based on the estimated fair value of the awards using the Binomial Lattice option pricing model. The measurement of stock-based compensation to non-employees is subject to periodic adjustments as the underlying equity instruments vest, and the resulting change in value, if any, is recognized in the Company’s consolidated statements of operations during the period the related services are rendered.
	Income taxes - The Company follows the liability method of accounting for income taxes. This method recognizes certain temporary differences between the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset as measured by the statutory tax rates in effect. The effect of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.
	For acquired properties that do not constitute a business, a deferred income tax liability is recorded on GAAP basis over income tax basis using statutory federal and state rates. The resulting estimated future income tax liability associated with the temporary difference between the acquisition consideration and the tax basis is computed in accordance with Accounting Standards Codification (“ASC”) 740-10-25-51, Acquired Temporary Differences in Certain Purchase Transactions that are Not Accounted for as Business Combinations, and is reflected as an increase to the total purchase price which is then applied to the underlying acquired assets in the absence of there being a goodwill component associated with the acquisition transactions.
	Recent accounting standards - From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption.
	In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. This ASU does the following, among other things: a) eliminates the requirement to present inception-to-date information on the statements of income, cash flows, and shareholders’ equity, b) eliminates the need to label the financial statements as those of a development stage entity, c) eliminates the need to disclose a description of the development stage activities in which the entity is engaged, and d) amends FASB ASC 275, Risks and Uncertainties, to clarify that information on risks and uncertainties for entities that have not commenced planned principal operations is required. The amendments in ASU No. 2014-10 are effective for public companies for annual and interim reporting periods beginning after December 15, 2014. Early adoption is permitted. The Company has elected early adoption of the new standard applied retrospectively. Adoption of the new guidance had no impact on the consolidated financial position, results of operations or cash flows.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2014
PROPERTY AND EQUIPMENT [Abstract]	'
PROPERTY AND EQUIPMENT	'
	2. PROPERTY AND EQUIPMENT
	Property and equipment consisted of the following:
		June 30, 2014						December 31, 2013
		Cost		Accumulated		Net Book Value		Cost		Accumulated		Net Book Value
				Depreciation						Depreciation
	Furniture and fixtures	$	38,255	$	-37,018	$	1,237	$	38,255	$	-35,759	$	2,496
	Lab equipment		249,061		-244,224		4,837		249,061		-240,258		8,803
	Computers and
	equipment		91,002		-72,229		18,773		91,002		-67,775		23,227
	Income property		-		-		-		309,750		-18,311		291,439
	Vehicles		47,675		-45,108		2,567		47,675		-44,758		2,917
	Slag conveyance
	equipment		300,916		-266,629		34,287		300,916		-230,124		70,792
	Demo module building		6,630,063		-3,532,357		3,097,706		6,630,063		-3,200,854		3,429,209
	Grinding circuit		913,678		-6,667		907,011		913,678		-1,666		912,012
	Extraction circuit		938,352		-181,557		756,795		898,909		-89,891		809,018
	Leaching and filtration		1,300,618		-910,433		390,185		1,300,618		-780,371		520,247
	Fero-silicate storage		4,326		-1,514		2,812		4,326		-1,298		3,028
	Electrowinning building		1,492,853		-522,499		970,354		1,492,853		-447,856		1,044,997
	Site improvements		1,675,907		-529,298		1,146,609		1,651,143		-467,306		1,183,837
	Site equipment		360,454		-324,104		36,350		360,454		-309,051		51,403
	Construction in		1,102,014		-		1,102,014		1,102,014		-		1,102,014
	progress
		$	15,145,174	$	-6,673,637	$	8,471,537	$	15,390,717	$	-5,935,278	$	9,455,439
		Depreciation expense was $379,169 and $342,288 for the three month periods ended June 30, 2014 and 2013, respectively and $757,993 and $684,396 for the six month periods ended June 30, 2014 and 2013, respectively. At June 30, 2014, construction in progress included the gold, copper, and zinc extraction circuits and electrowinning equipment at the Clarkdale Slag Project.

ASSETS_HELD_FOR_SALE

ASSETS HELD FOR SALE	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]	'
ASSETS HELD FOR SALE	'
		3	ASSETS HELD FOR SALE
	As of June 30, 2014, assets held for sale consisted of a building and lot that the Company was in the process of selling. In the second quarter of 2014, the Company was approached by a buyer who was interested in purchasing the property. Management determined that the sale was in the best interest of the Company due to the generation of additional cash flow. Prior to its reclassification to “assets held for sale” the property was classified as “Income property” and had a book value of $290,115. The selling price of the property was $250,000 and costs to complete the sale were estimated at $5,000. An impairment loss of $45,115 was recorded to operations during the three month period ended June 30, 2014.
	Subsequent to June 30, 2014, the sale was closed as further described in Note 20.

CLARKDALE_SLAG_PROJECT

CLARKDALE SLAG PROJECT	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
CLARKDALE SLAG PROJECT	'
		4	CLARKDALE SLAG PROJECT
	On February 15, 2007, the Company completed a merger with Transylvania International, Inc. (“TI”) which provided the Company with 100% ownership of the Clarkdale Slag Project in Clarkdale, Arizona, through its wholly owned subsidiary CML. This acquisition superseded the joint venture option agreement to acquire a 50% ownership interest as a joint venture partner pursuant to Nanominerals Corp. (“NMC”) interest in a joint venture agreement (“JV Agreement”) dated May 20, 2005 between NMC and VRIC. One of the Company’s former directors was an affiliate of VRIC. The former director joined the Company’s board subsequent to the acquisition.
	The Company also formed a second wholly owned subsidiary, CMC, for the purpose of developing a processing plant at the Clarkdale Slag Project.
	The Company believes the acquisition of the Clarkdale Slag Project was beneficial because it provides for 100% ownership of the properties, thereby eliminating the need to finance and further develop the projects in a joint venture environment.
	This merger was treated as a statutory merger for tax purposes whereby CML was the surviving merger entity.
	The Company applied Emerging Issues Task Force (“EITF”) 98-03 (which has been superseded by ASC 805-10-25-1) with regard to the acquisition of the Clarkdale Slag Project. The Company determined that the acquisition of the Clarkdale Slag Project did not constitute an acquisition of a business as that term is defined in ASC 805-10-55-4, and the Company recorded the acquisition as a purchase of assets.
	The $130.3 million purchase price was comprised of a combination of the cash paid, the deferred tax liability assumed in connection with the acquisition, and the fair value of our common shares issued, based on the closing market price of our common stock, using the average of the high and low prices of our common stock on the closing date of the acquisition. The Clarkdale Slag Project is without known reserves and the project is exploratory in nature in accordance with Industry Guides promulgated by the Commission, Guide 7 paragraph (a)(4)(i). As required by ASC 930-805-30, Mining – Business Combinations – Initial Recognition, and ASC 740-10-25-49-55, Income Taxes – Overall – Recognition – Acquired Temporary Differences in Certain Purchase Transactions that are Not Accounted for as Business Combinations, the Company then allocated the purchase price among the assets as follows (and also further described in this Note 4 to the financial statements): $5,916,150 of the purchase price was allocated to the slag pile site, $3,300,000 to the remaining land acquired, and $309,750 to income property and improvements. The remaining $120,766,877 of the purchase price was allocated to the Clarkdale Slag Project, which has been capitalized as a tangible asset in accordance with ASC 805-20-55-37, Use Rights. Upon commencement of commercial production, the asset will be amortized using the unit-of-production method over the life of the Clarkdale Slag Project.
	Closing of the TI acquisition occurred on February 15, 2007, (the “Closing Date”) and was subject to, among other things, the following terms and conditions:
		a)	The Company paid $200,000 in cash to VRIC on the execution of a letter agreement;
		b)	The Company paid $9,900,000 in cash to VRIC on the Closing Date;
		c)	The Company issued 16,825,000 shares of its common stock, valued at $3.975 per share using the average of the high and low price on the Closing Date, to the designates of VRIC on the closing pursuant to Section 4(2) and Regulation D of the Securities Act of 1933;
	In addition to the cash and equity consideration paid and issued upon closing, the acquisition agreement contains the following payment terms and conditions:
		d)	The Company agreed to continue to pay VRIC $30,000 per month until the earlier of: (i) the date that is 90 days after receipt of a bankable feasibility study by the Company (the “Project Funding Date”), or (ii) the tenth anniversary of the date of the execution of the letter agreement;
	The acquisition agreement also contains the following additional contingent payment terms which are based on the Project Funding Date as defined in the agreement:
		e)	The Company has agreed to pay VRIC $6,400,000 on the Project Funding Date;
		f)	The Company has agreed to pay VRIC a minimum annual royalty of $500,000, commencing on the Project Funding Date (the “Advance Royalty”), and an additional royalty consisting of 2.5% of the net smelter returns (“NSR”) on any and all proceeds of production from the Clarkdale Slag Project (the “Project Royalty”). The Advance Royalty remains payable until the first to occur of: (i) the end of the first calendar year in which the Project Royalty equals or exceeds $500,000 or (ii) February 15, 2017. In any calendar year in which the Advance Royalty remains payable, the combined Advance Royalty and Project Royalty will not exceed $500,000 in any calendar year; and
		g)	The Company has agreed to pay VRIC an additional amount of $3,500,000 from the net cash flow of the Clarkdale Slag Project. The Company has accounted for this as a contingent payment and upon meeting the contingency requirements, the purchase price of the Clarkdale Slag Project will be adjusted to reflect the additional consideration.
	Under the original JV Agreement, the Company agreed to pay NMC a 5% royalty on NSR payable from the Company’s 50% joint venture interest in the production from the Clarkdale Slag Project. Upon the assignment to the Company of VRIC’s 50% interest in the Joint Venture Agreement in connection with the reorganization with TI, the Company continues to have an obligation to pay NMC a royalty consisting of 2.5% of the NSR on any and all proceeds of production from the Clarkdale Slag Project. On July 25, 2011, the Company agreed to pay NMC an advance royalty payment of $15,000 per month effective January 1, 2011. The advance royalty payment is more fully discussed in Note 16.
	The following table reflects the recorded purchase consideration for the Clarkdale Slag Project:
	Purchase price:
	Cash payments		$	10,100,000
	Joint venture option acquired in 2005 for cash			690,000
	Warrants issued for joint venture option			1,918,481
	Common stock issued			66,879,375
	Monthly payments, current portion			167,827
	Monthly payments, net of current portion			2,333,360
	Acquisition costs			127,000
	Total purchase price			82,216,043
	Net deferred income tax liability assumed - Clarkdale Slag Project			48,076,734
	Total		$	130,292,777
	The following table reflects the components of the Clarkdale Slag Project:
	Allocation of acquisition cost:
	Clarkdale Slag Project (including net deferred income tax liability assumed of $48,076,734)		$	120,766,877
	Land - smelter site and slag pile			5,916,150
	Land			3,300,000
	Income property and improvements			309,750
	Total		$	130,292,777
	The Company agreed to continue to pay VRIC $30,000 per month until the earlier of the Project Funding Date or the tenth anniversary of the date of the execution of the letter agreement. As of June 30, 2014 and December 31, 2013, the cumulative interest cost capitalized and included in the Slag Project was $1,018,774 and $992,934, respectively.
	The following table sets forth the change in the Slag Project for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30,		December 31,
			2014		2013
	Slag Pile, beginning balance		$	121,759,811	$	121,667,730
	Capitalized interest costs			25,840		92,081
	Slag Pile, ending balance		$	121,785,651	$	121,759,811

MINERAL_PROPERTIES_MINING_CLAI

MINERAL PROPERTIES - MINING CLAIMS	6 Months Ended
	Jun. 30, 2014
MINERAL PROPERTIES - MINING CLAIMS [Abstract]	'
MINERAL PROPERTIES - MINING CLAIMS	'
		5	MINERAL PROPERTIES - MINING CLAIMS
	As of June 30, 2014, the Company holds mining claims consisting of 3,200 acres located near Searchlight, Nevada. The 3,200 acre property is staked as twenty 160 acre claims, most of which are also double-staked as 142 twenty acre claims. At June 30, 2014 and December 31, 2013, the mineral properties balance was $16,947,419.
	The mining claims were acquired with issuance of 5,600,000 shares of the Company’s common stock over a three year period ending in June 2008. On June 25, 2008, the Company issued the final tranche of shares and received the title to the mining claims in consideration of the satisfaction of the option agreement.
	The mining claims were capitalized as tangible assets. Upon commencement of commercial production, the claims will be amortized using the unit-of-production method. If the Company does not continue with exploration after the completion of the feasibility study, the claims will be expensed at that time.
	In connection with the Company’s Plan of Operations for the Searchlight Gold Project, the Company has a bond with the Bureau of Land Management (“BLM”) amounting to $11,466 and $11,466 as of June 30, 2014 and December 31, 2013, respectively.

ACCOUNTS_PAYABLE_AND_ACCRUED_L

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2014
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES [Abstract]	'
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	'
		6	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
	Accounts payable and accrued liabilities at June 30, 2014 and December 31, 2013 consisted of the following:
			June 30, 2014		December 31, 2013
	Trade accounts payable		$	529,524	$	70,272
	Accrued compensation and related taxes			190,247		45,469
	Accrued interest			79,333		79,800
			$	799,104	$	195,541
	Accounts payable – related party are discussed in Note 19.

DERIVATIVE_WARRANT_LIABILITY

DERIVATIVE WARRANT LIABILITY	6 Months Ended
	Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
DERIVATIVE WARRANT LIABILITY	'
		7	DERIVATIVE WARRANT LIABILITY
	On November 12, 2009, the Company issued an aggregate of 12,078,596 units of securities to certain investors, consisting of 12,078,596 shares of common stock and warrants to purchase an additional 6,039,298 shares of common stock, in a private placement to various accredited investors pursuant to a Securities Purchase Agreement. The Company paid commissions to agents in connection with the private placement in the amount of approximately $1,056,877 and warrants to purchase up to 301,965 shares of common stock.
	The warrants issued to the purchasers in the private placement became exercisable on November 12, 2009. The warrants had an initial expiration date of November 12, 2012 and an initial exercise price of $1.85 per share. The warrants have anti-dilution provisions, including provisions for the adjustment to the exercise price and to the number of warrants granted if the Company issues common stock or common stock equivalents at a price less than the exercise price.
	The Company determined that the warrants were not afforded equity classification because the warrants are not freestanding and are not considered to be indexed to the Company’s own stock due to the anti-dilution provisions. In addition, the Company determined that the anti-dilution provisions shield the warrant holders from the dilutive effects of subsequent security issuances and therefore the economic characteristics and risks of the warrants are not clearly and closely related to the Company’s common stock. Accordingly, the warrants are treated as a derivative liability and are carried at fair value.
	On November 1, 2012 and on October 25, 2013, the Company’s Board of Directors unilaterally determined, without any negotiations with the warrant holders to amend these private placement warrants. The expiration date of the warrants was extended from November 12, 2012 to November 12, 2013 and again from November 12, 2013 to November 12, 2014. In all other respects, the terms and conditions of the warrants remained the same. With respect to the extensions, the Company did not recognize any additional expense as the fair values of the warrants were calculated at zero using the Binomial Lattice model with the following assumptions:
		October 25, 2013					November 1, 2012
	Risk-free interest rate			0.11	%			0.19	%
	Expected volatility			114.79	%			94.94	%
	Expected life (years)			1				1
	As of June 30, 2014, the cumulative adjustment to the warrants was as follows: (i) the exercise price was adjusted from $1.85 per share to $1.62 per share, and (ii) the number of warrants was increased by 817,285 warrants. In connection with the financing completed with Luxor Capital Partners, L.P. and its affiliates (“Luxor”) on June 7, 2012, Luxor waived its right to the anti-dilution adjustments on 4,252,883 warrants it holds from the 2009 private placement. Future anti-dilution adjustments were not waived. The adjusted exercise price of the Luxor 2009 private placements warrants is $1.65 per share. 269,956 of the warrants originally held by Luxor have been transferred to another entity. No additional warrants were issued during the six month period ended June 30, 2014.
	The total warrants accounted for as a derivative liability were 7,158,548 and 7,158,548 as of June 30, 2014 and December 31, 2013, respectively.
	The following table sets forth the changes in the fair value of the derivative liability for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30, 2014			December 31, 2013
	Beginning balance		$	-81,574		$	-274,706
	Adjustment to warrants			-			-
	Change in fair value			77,940			193,132
	Ending balance		$	-3,634		$	-81,574
	The Company estimates the fair value of the derivative liabilities by using the Binomial Lattice pricing-model, with the following assumptions used for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30, 2014		December 31, 2013
	Dividend yield		-		-
	Expected volatility		84.11% - 118.69%		90.98% - 121.32%
	Risk-free interest rate		0.07% - 0.10%		0.01% - 0.13%
	Expected life (years)		0.40 - 0.60		0.10 - 0.90
	The expected volatility is based on the historical volatility levels on the Company’s common stock. The risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues over equivalent lives of the options. The expected life is impacted by all of the underlying assumptions and calibration of the Company’s model. Significant increases or decreases in inputs would result in a significantly lower or higher fair value measurement.

CONVERTIBLE_NOTES

CONVERTIBLE NOTES	6 Months Ended
	Jun. 30, 2014
Convertible Debt [Abstract]	'
CONVERTIBLE NOTES	'
		8	CONVERTIBLE NOTES
	On September 18, 2013, the Company completed a private placement of secured convertible notes (the “Notes”) to certain investors resulting in gross proceeds of $4,000,000. The term of the Notes is five years, but the Notes can be called on the second anniversary date of issuance and every six month period ended thereafter. The Notes bear interest at 7% which is payable semi-annually. The Notes have customary provisions relating to events of default including an increase in the interest rate to 9%.The Notes are secured by a first priority lien on all of the assets of the Company including its subsidiaries.
	The Company has agreed not to incur any additional secured indebtedness or any other indebtedness with a maturity prior to that of the Notes without the written consent of the holders of the majority-in-interest of the Notes. In the event of a change of control of the Company, the Notes will become due and payable at 120% of the principal balance. The holders of the Notes have the right to purchase, pro rata, up to $600,000 of additional separate notes by the first anniversary of the issuance date on the same general terms and conditions as the original Notes.
	The Notes are convertible at any time into shares of common stock at $0.40 per share, subject to certain adjustments. At June 30, 2014, the Notes were convertible into 10,000,000 shares of common stock and the if-converted value equaled the principal amount of the Notes. Certain embedded features in the Notes were required to be bifurcated and accounted for as a single compound derivative and reported at fair value as further discussed in Note 9.
	On the issuance date, the fair value of the compound derivative amounted to $1,261,285 and was recorded as both a derivative liability and a debt discount. The debt discount is being amortized to interest expense over the term of the Notes and the derivative liability is carried at fair value until conversion or maturity.
	The carrying value of the convertible debt, net of discount was comprised of the following at June 30, 2014 and December 31, 2013:
			June 30, 2014		December 31, 2013
	Convertible notes at face value		$	4,000,000	$	4,000,000
	Unamortized discount			-1,093,819		-1,201,494
	Convertible notes, net of discount		$	2,906,181	$	2,798,506
			The Company incurred $126,446 of financing fees related to the Notes. Such amounts were capitalized and recorded as deferred financing fees and are being amortized to interest expense over the term of the Notes. The effective interest rate on the Notes is 15.4% which included the following components and amounts for the three and six month periods ended June 30, 2014:
			Three Months		Six Months
			Ended June 30,		Ended June 30,
			2014		2014
	Interest rate at 7%		$	69,533	$	139,533
	Amortization of debt discount			54,166		107,676
	Amortization of deferred financing fees			5,625		11,182
	Total interest expense on convertible notes		$	129,324	$	258,391

DERIVATIVE_LIABILITY_CONVERTIB

DERIVATIVE LIABILITY - CONVERTIBLE NOTES	6 Months Ended
	Jun. 30, 2014
Derivative Liability And Convertible Debt [Abstract]	'
DERIVATIVE LIABILITY - CONVERTIBLE NOTES	'
	9	DERIVATIVE LIABILITY – CONVERTIBLE NOTES
	As further discussed in Note 8, on September 18, 2013, the Company completed a private placement of Notes to certain investors resulting in gross proceeds of $4,000,000. The Notes are convertible at any time into shares of common stock at $0.40 per share.
	The Notes have several embedded conversion and redemption features as well as the provision for additional investments. The Company determined that two of the features were required to be bifurcated and accounted for under derivative accounting as follows:
		1	The embedded conversion feature includes a provision for the adjustment to the conversion price if the Company issues common stock or common stock equivalents at a price less than the exercise price. Derivative accounting was required for this feature due to this anti-dilution provision.
		2	One embedded redemption feature requires the Company to pay 120% of the principal balance due upon a change of control. Derivative accounting was required for this feature as the debt involves a substantial discount, the option is only contingently exercisable and its exercise is not indexed to either an interest rate or credit risk.
	These two embedded features have been accounted for together as a single compound derivative. The Company estimated the fair value of the compound derivative using a model with estimated probabilities and inputs calculated by the Binomial Lattice model and present values. The assumptions included in the calculations are highly subjective and subject to interpretation. Assumptions used for the six month period ended June 30, 2014 and the year ended December 31, 2013 included redemption and conversion estimates/behaviors, estimates regarding future anti-dilutive financing agreements and the following other significant estimates:
			June 30, 2014		December 31, 2013
	Expected volatility		96.46% - 107.84%		93.11% - 101.74%
	Risk-free interest rate		1.25 % - 1.73%		1.39% - 1.75%
	Expected life (years)		2.50 - 3.0		4.25 – 4.75
	The expected volatility is based on the historical volatility levels on the Company’s common stock. The risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues over equivalent lives of the options. The expected life is impacted by all of the underlying assumptions and calibration of the Company’s model. Significant increases or decreases in inputs would result in a significantly lower or higher fair value measurement.
	The following table sets forth the changes in the fair value of the derivative liability for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30, 2014			December 31, 2013
	Beginning balance		$	755,709		$	-
	Issuance of convertible debt			-			1,261,285
	Change in fair value			-125,855			-505,576
	Ending balance		$	629,854		$	755,709

VRIC_PAYABLE_RELATED_PARTY

VRIC PAYABLE - RELATED PARTY	6 Months Ended
	Jun. 30, 2014
Other Liabilities Disclosure [Abstract]	'
VRIC PAYABLE - RELATED PARTY	'
		10	VRIC PAYABLE - RELATED PARTY
	Pursuant to the Clarkdale acquisition agreement, the Company agreed to pay VRIC $30,000 per month until the Project Funding Date. Mr. Harry Crockett, one of the Company’s former directors, was an affiliate of VRIC.  Mr. Crockett joined the Board of Directors subsequent to the acquisition. Mr. Crockett passed away in 2010.
	The Company has recorded a liability for this commitment using imputed interest based on its best estimate of its incremental borrowing rate. The effective interest rate used was 8.00%, resulting in an initial present value of $2,501,187 and a debt discount of $1,128,813. The discount is being amortized over the expected term of the debt using the effective interest method. The expected term used was 10 years which represents the maximum term the VRIC liability is payable if the Company does not obtain project funding. Interest costs related to this obligation were $6,225 and $23,701 for the three month periods ended June 30, 2014 and 2013, respectively, and $25,840 and $48,710 for the six month periods ended June 30, 2014 and 2013, respectively. Interest costs incurred have been capitalized and included in the Slag Project.
	The following table represents future minimum payments on the VRIC payable for each of the twelve month periods ending June 30,
	2015		$	420,000
	2016			360,000
	2017			240,000
	Thereafter			-
	Total minimum payments			1,020,000
	Less: amount representing interest			-110,039
	Present value of minimum payments			909,961
	VRIC payable, current portion			349,985
	VRIC payable, net of current portion		$	559,976
	The acquisition agreement also contains payment terms which are based on the Project Funding Date as defined in the agreement. The terms and conditions of these payments are discussed in more detail in Notes 4 and 16.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
STOCKHOLDERS' EQUITY [Abstract]	'
STOCKHOLDERS' EQUITY	'
		11	STOCKHOLDERS’ EQUITY
	During the six month periods ended June 30, 2014 and 2013 the Company did not issue any common stock or enter into any financing agreements.
	The following table summarizes the Company’s private placement warrant activity for the six month period ended June 30, 2014:
			Number of		Weighted	Weighted
			Shares		Average	Average
					Exercise Price	Remaining
						Contractual
						Life
						(Years)
	Balance, December 31, 2013		14,200,935	$	1.74	0.87
	Warrants granted		-		-	-
	Warrants expired		-		-	-
	Warrants exercised		-		-	-
	Balance, June 30, 2014		14,200,935	$	1.74	0.37
	In addition to the private placement warrants in the table above, the Company issued 12,000,000 warrants on June 1, 2005 in connection with the Clarkdale Slag Project, of which, 8,750,000 remain outstanding as of June 30, 2014. The exercise price of these warrants is $0.375 per share with an expiration date of June 1, 2015.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCK-BASED COMPENSATION	'
	12	STOCK-BASED COMPENSATION
	Stock-based compensation includes grants of stock options and purchase warrants to eligible directors, employees and consultants as determined by the board of directors.
	Stock option plans - The Company has adopted several stock option plans, all of which have been approved by the Company’s stockholders that authorize the granting of stock option awards subject to certain conditions. At June 30, 2014, the Company had 10,444,576 of its common shares available for issuance for stock option awards under the Company’s stock option plans.
	At June 30, 2014, the Company had the following stock option plans available:
		⋅	2009 Incentive Plan – The terms of the 2009 Incentive Plan, as amended, allow for up to 7,250,000 options to be issued to eligible participants. Under the plan, the exercise price is generally equal to the fair market value of the Company’s common stock on the grant date and the maximum term of the options is generally ten years. No participants shall receive more than 500,000 options under this plan in any one calendar year. For grantees who own more than 10% of the Company’s common stock on the grant date, the exercise price may not be less than 110% of the fair market value on the grant date and the term is limited to five years. The plan was approved by the Company’s stockholders on December 15, 2009 and the amendment was approved by the Company’s stockholders on May 8, 2012. As of June 30, 2014, the Company had granted 1,222,500 options under the 2009 Incentive Plan with a weighted average exercise price of $1.16 per share. As of June 30, 2014, 1,190,000 of the options granted were outstanding.
		⋅	2009 Directors Plan - The terms of the 2009 Directors Plan, as amended, allow for up to 2,750,000 options to be issued to eligible participants. Under the plan, the exercise price may not be less than 100% of the fair market value of the Company’s common stock on the grant date and the term may not exceed ten years. No participants shall receive more than 250,000 options under this plan in any one calendar year. The plan was approved by the Company’s stockholders on December 15, 2009 and the amendment was approved by the Company’s stockholders on May 8, 2012. As of June 30, 2014, the Company had granted 1,380,877 options under the 2009 Directors Plan with a weighted average exercise price of $0.89 per share. As of June 30, 2014, all of the options granted were outstanding.
		⋅	2007 Plan - Under the terms of the 2007 Plan, options to purchase up to 4,000,000 shares of common stock may be granted to eligible participants. Under the plan, the option price for incentive stock options is the fair market value of the stock on the grant date and the option price for non-qualified stock options shall be no less than 85% of the fair market value of the stock on the grant date. The maximum term of the options under the plan is ten years from the grant date. The 2007 Plan was approved by the Company’s stockholders on June 15, 2007. As of June 30, 2014, the Company had granted 952,047 options under the 2007 Plan with a weighted average exercise price of $1.03 per share. As of June 30, 2014, 823,508 of the options granted were outstanding.
	The Company has also granted 300,000 stock options to one of its executives on October 1, 2010 and 200,000 warrants to one of its consultants on January 13, 2011 outside of the aforementioned stock option plans, all of which remain outstanding at June 30, 2014.
	Non-Employee Directors Equity Compensation Policy – Non-employee directors have a choice between receiving $9,000 value of common stock per quarter, where the number of shares is determined by the closing price of the Company’s stock on the last trading day of each quarter, or a number of options to purchase twice the number of shares of common stock that the director would otherwise receive if the director elected to receive shares, with an exercise price based on the closing price of the Company’s common stock on the last trading day of each quarter. Effective April 1, 2011, the Board of Directors implemented a policy whereby the number of options granted for quarterly compensation to each director is limited to 18,000 options per quarter.
	Stock warrants – Upon approval of the Board of Directors, the Company may grant stock warrants to consultants for services performed.
	Valuation of awards - At June 30, 2014, the Company had options outstanding that vest on two different types of vesting schedules, service-based and performance-based. For both service-based and performance-based stock option grants, the Company estimates the fair value of stock-based compensation awards by using the Binomial Lattice option pricing model with the following assumptions used for the six month periods ended June 30, 2014 and 2013:
			June 30, 2014			June 30, 2013
	Risk-free interest rate			0.39% - 1.73%			0.77%-1.41%
	Dividend yield			-			-
	Expected volatility			98.65% - 105.87%			90.39%-95.66%
	Expected life (years)			2.00 - 4.25			4.25
	The expected volatility is based on the historical volatility levels on the Company’s common stock. The risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues over equivalent lives of the options.
	The expected life of awards represents the weighted-average period the stock options or warrants are expected to remain outstanding and is a derived output of the Binomial Lattice model. The expected life is impacted by all of the underlying assumptions and calibration of the Company’s model. The Binomial Lattice model estimates the probability of exercise as a function of these two variables based on the entire history of exercises and cancellations on all past option grants made by the Company.
	Stock-based compensation activity - During the six month period ended June 30, 2014, the Company granted stock-based awards as follows:
		a)	On June 30, 2014, the Company granted stock options under the 2009 Directors Plan for the purchase of 54,000 shares of common stock at $0.24 per share. The options were granted to three of the Company’s non-management directors for directors’ compensation, are fully vested and expire on June 30, 2019. The exercise price of the stock options equaled the closing price of the Company’s common stock for the grant date.
		b)	On March 31, 2014, the Company granted stock options under the 2009 Directors Plan for the purchase of 54,000 shares of common stock at $0.26 per share. The options were granted to three of the Company’s non-management directors for directors’ compensation, are fully vested and expire on March 31, 2019. The exercise price of the stock options equaled the closing price of the Company’s common stock for the grant date.
		c)	On January 13, 2014, the Company extended the expiration date of 200,000 warrants issued to a consultant. The expiration date was extended from January 13, 2014 to January 13, 2016. All other terms were unchanged. The modification resulted in additional expense of $5,011.
	During the six month period ended June 30, 2013, the Company granted stock-based awards as follows:
		a)	On June 30, 2013, the Company granted stock options under the 2009 Directors Plan for the purchase of 54,000 shares of common stock at $0.288 per share. The options were granted to three of the Company’s non-management directors for directors’ compensation, are fully vested and expire on June 30, 2018. The exercise price of the stock options equaled the closing price of the Company’s common stock for the grant date.
		b)	On March 31, 2013, the Company granted stock options under the 2009 Directors Plan for the purchase of 54,000 shares of common stock at $0.48 per share. The options were granted to three of the Company’s non-management directors for directors’ compensation, are fully vested and expire on March 31, 2018. The exercise price of the stock options equaled the closing price of the Company’s common stock for the grant date.
		c)	On March 31, 2013, the Company granted stock options under the 2007 Plan for the purchase of 18,000 shares of common stock at $0.48 per share. The options were granted to a consultant, are fully vested and expire on March 31, 2018. The exercise price of the stock options equaled the closing price of the Company’s common stock for the grant date.
	Expenses related to the vesting, modifying and granting of stock-based compensation awards were $18,622 and $73,605 for the three month periods ended June 30, 2014 and 2013, respectively, and $51,647 and $195,281 for the six month periods ended June 30, 2014 and 2013, respectively. Such expenses have been included in general and administrative and mineral exploration and evaluation expense.
		The following table summarizes the Company’s stock-based compensation activity for the six month period ended June 30, 2014:
			Number of		Weighted			Weighted		Weighted	Aggregate
			Shares		Average Grant			Average		Average	Intrinsic
					Date Fair			Exercise Price		Remaining	Value
					Value					Contractual
										Life
										(Years)
	Outstanding, December 31, 2013		3,800,331		$	0.56		$	1.01	3.76
	Options/warrants granted		108,000			0.09			0.25	4.88
	Options/warrants expired		-13,946			1.13			2.58	-
	Options/warrants forfeited		-			-			-	-
	Options/warrants exercised		-			-			-	-
	Outstanding, June 30, 2014		3,894,385		$	0.55		$	0.98	3.42	$	-
	Exercisable, June 30, 2014		3,494,385		$	0.51		$	0.97	3.04	$	-
			Aggregate intrinsic value represents the value of the Company’s closing stock price on the last trading day of the quarter ended June 30, 2014 in excess of the weighted-average exercise price multiplied by the number of options outstanding or exercisable.
	Unvested awards - The following table summarizes the changes of the Company’s stock-based compensation awards subject to vesting for the six month period ended June 30, 2014:
			Number of			Weighted
			Shares Subject			Average
			to Vesting			Grant Date
						Fair Value
	Unvested, December 31, 2013			450,000		$	0.95
	Options/warrants granted			-			-
	Options/warrants vested			-50,000			1.49
	Options/warrants cancelled			-			-
	Unvested, June 30, 2014			400,000		$	0.88
	For the three month periods ended June 30, 2014 and 2013, the total grant date fair value of shares vested was zero and $208,441, respectively. For the six month periods ended June 30, 2014 and 2013, the total grant date fair value of shares vested was $74,731 and $278,585, respectively. As of June 30, 2014, there was $28,993 of total unrecognized compensation cost related to unvested stock-based compensation awards. The weighted average period over which this cost will be recognized was 0.69 years as of June 30, 2014. Included in the total of unvested stock options at June 30, 2014, was 250,000 performance-based stock options. At June 30, 2014, management determined that achievement of the performance targets was probable. The weighted average period over which the related expense will be recognized was 0.50 years as of June 30, 2014.

STOCKHOLDER_RIGHTS_AGREEMENT

STOCKHOLDER RIGHTS AGREEMENT	6 Months Ended
	Jun. 30, 2014
STOCKHOLDERS' EQUITY [Abstract]	'
STOCKHOLDER RIGHTS AGREEMENT	'
		13	STOCKHOLDER RIGHTS AGREEMENT
	The Company adopted a Stockholder Rights Agreement (the “Rights Agreement”) in August 2009 to protect stockholders from attempts to acquire control of the Company in a manner in which the Company’s Board of Directors determines is not in the best interest of the Company or its stockholders.  Under the agreement, each currently outstanding share of the Company’s common stock includes, and each newly issued share will include, a common share purchase right.  The rights are attached to and trade with the shares of common stock and generally are not exercisable.  The rights will become exercisable if a person or group acquires, or announces an intention to acquire, 15% or more of the Company’s outstanding common stock. The Rights Agreement was not adopted in response to any specific effort to acquire control of the Company.  The issuance of rights had no dilutive effect, did not affect the Company’s reported earnings per share and was not taxable to the Company or its stockholders.
	On June 7, 2012, the Company agreed to waive the 15% limitation currently in the Rights Agreements with respect to Luxor, and to allow Luxor to become the beneficial owners of up to 17.5% of the Company’s common stock, without being deemed to be an “acquiring person” under the Rights Agreement. In connection with the convertible notes offering completed on September 18, 2013, the Company agreed to waive the 17.5% limitation currently in the Rights Agreement with respect to Luxor, and allow Luxor to become the beneficial owners of up to 22% of the Company’s common stock, without being deemed to be an “acquiring person” under the Rights Agreement. Following the Offering, Luxor became the beneficial owner of approximately 21% of the Company’s common stock (including giving effect to derivative securities or other rights to purchase or acquire shares of the Company’s common stock).

PROPERTY_RENTAL_AGREEMENTS_AND

PROPERTY RENTAL AGREEMENTS AND LEASES	6 Months Ended
	Jun. 30, 2014
PROPERTY RENTAL AGREEMENTS AND LEASES [Abstract]	'
PROPERTY RENTAL AGREEMENTS AND LEASES	'
	14	PROPERTY RENTAL AGREEMENTS AND LEASES
			The Company, through its subsidiary CML, has the following lease and rental agreements as lessor:
			Clarkdale Arizona Central Railroad – rental – CML rents land to Clarkdale Arizona Central Railroad on month-to-month terms at $1,700 per month.
			Commercial building rental - CML rents commercial building space to various tenants. Rental arrangements are minor in amount and are typically month-to-month. Subsequent to June 30, 2014, this building was sold as further discussed in Note 20.
	Land lease - wastewater effluent - Pursuant to the acquisition of TI, the Company became party to a lease dated August 25, 2004 with the Town of Clarkdale, AZ ( “Town of Clarkdale”). The Company provides approximately 60 acres of land to the Town of Clarkdale for disposal of Class B effluent. In return, the Company has first right to purchase up to 46,000 gallons per day of the effluent for its use at fifty percent (50%) of the potable water rate. In addition, if Class A effluent becomes available, the Company may purchase that at seventy-five percent (75%) of the potable water rate.
	The lease agreement expires August 25, 2014. At such time as the Town of Clarkdale no longer uses the property for effluent disposal, and for a period of 25 years measured from the date of the lease, the Company has a continuing right to purchase Class B effluent, and if available, Class A effluent at then market rates.

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
		15	INCOME TAXES
	The Company is a Nevada corporation and is subject to federal, Arizona and Colorado income taxes. Nevada does not impose a corporate income tax.
	Significant components of the Company’s net deferred income tax assets and liabilities at June 30, 2014 and December 31, 2013 were as follows:
			June 30,		December 31,
			2014		2013
	Deferred income tax assets:
	Net operating loss carryforward		$	17,885,849	$	16,822,317
	Option compensation			717,582		763,779
	Asset held for sale			17,144		-
	Property, plant & equipment			1,142,379		1,021,685
	Gross deferred income tax assets			19,762,954		18,607,781
	Less: valuation allowance			-582,163		-733,287
	Net deferred income tax assets			19,180,791		17,874,494
	Deferred income tax liabilities:
	Acquisition related liabilities			-55,197,465		-55,197,465
	Net deferred income tax liability		$	-36,016,674	$	-37,322,971
	The realizability of deferred tax assets are reviewed at each balance sheet date. The majority of the Company’s deferred tax liabilities are related to depletable assets. Such depletion will begin with the processing of mineralized material once production has commenced. Therefore, the deferred tax liabilities will reverse in similar time periods as the deferred tax assets. The reversal of the deferred tax liabilities is sufficient to support the deferred tax assets. The valuation allowance relates to state net operating loss carryforwards which may expire unused due to their shorter life.
	Deferred income tax liabilities were recorded on GAAP basis over income tax basis using statutory federal and state rates with the corresponding increase in the purchase price allocation to the assets acquired.
	The resulting estimated future federal and state income tax liabilities associated with the temporary difference between the acquisition consideration and the tax basis are reflected as an increase to the total purchase price which has been applied to the underlying mineral and slag project assets in the absence of there being a goodwill component associated with the acquisition transactions.
	A reconciliation of the deferred income tax benefit for the three month periods ended June 30, 2014 and 2013 at US federal and state income tax rates to the actual tax provision recorded in the financial statements consisted of the following components:
			June 30, 2014		June 30, 2013
	Deferred tax benefit at statutory rates		$	611,209	$	581,561
	State deferred tax benefit, net of federal benefit			52,389		49,848
	Increase (decrease) in deferred tax benefit from:
	Change in valuation allowance			50,938		-67,046
	Change in state NOL’s			-47,874		-34,841
	Gain on the change in fair value of derivative liabilities			2,013		23,120
	Other permanent differences			-85,765		-4,663
	Deferred income tax benefit		$	582,910	$	547,979
	A reconciliation of the deferred income tax benefit for the six month periods ended June 30, 2014 and 2013 at US federal and state income tax rates to the actual tax provision recorded in the financial statements consisted of the following components:
			June 30, 2014		June 30, 2013
	Deferred tax benefit at statutory rates		$	1,183,349	$	1,118,061
	State deferred tax benefit, net of federal benefit			101,430		95,834
	Increase (decrease) in deferred tax benefit from:
	Change in valuation allowance			151,124		-94,725
	Change in state NOL’s			-95,748		-69,681
	Gain (loss) on the change in fair value of derivative warrant liability			77,442		104,388
	Other permanent differences			-111,300		-9,271
	Deferred income tax benefit		$	1,306,297	$	1,144,606
	The Company had cumulative net operating losses of $48,305,502 as of June 30, 2014 for federal income tax purposes. The federal net operating loss carryforwards will expire between 2025 and 2034.
	State income tax allocation - The Company had cumulative net operating losses of $24,605,162 as of June 30, 2014 for state income tax purposes. The Company has placed a valuation allowance against state net operating loss carryforwards expected to expire unused. The remaining net operating loss carryforwards expire at various dates through 2034.
	Tax returns subject to examination - The Company and its subsidiaries file income tax returns in the United States. These tax returns are subject to examination by taxation authorities provided the years remain open under the relevant statutes of limitations, which may result in the payment of income taxes and/or decreases in its net operating losses available for carryforward. The Company has losses from inception to date, and thus all years remain open for examination. While the Company believes that its tax filings do not include uncertain tax positions, the results of potential examinations or the effect of changes in tax law cannot be ascertained at this time. The Company’s federal tax return for the year ended December 31, 2010 is currently under examination by the Internal Revenue Service.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	16	COMMITMENTS AND CONTINGENCIES
	Lease obligations – The Company leases corporate office space under a sublease agreement from a related party as further discussed in Note 19. The lease agreement commenced September 1, 2013 and is for a 2 year period. The following table represents future rent payments for each of the twelve month periods ending June 30,
	2015		$	22,308
	2016			3,334
	Thereafter			-
			$	25,642
	Total rent expense was $8,457 and $8,940 for the three month periods ended June 30, 2014 and 2013, respectively. Total rent expense was $16,914 and $17,880 for the six month periods ended June 30, 2014 and 2013, respectively.
	Severance agreements – The Company has severance agreements with two executive officers that provide for various payments if the officer’s employment agreement is terminated by the Company, other than for cause. At June 30, 2014, the total potential liability for severance agreements was $112,500.
	Purchase consideration Clarkdale Slag Project - In consideration of the acquisition of the Clarkdale Slag Project from VRIC, the Company has agreed to certain additional contingent payments. The acquisition agreement contains payment terms which are based on the Project Funding Date as defined in the agreement:
		a)	The Company has agreed to pay VRIC $6,400,000 on the Project Funding Date;
		b)	The Company has agreed to pay VRIC a minimum annual royalty of $500,000, commencing on the Project Funding Date (the “Advance Royalty”), and an additional royalty consisting of 2.5% of the NSR on any and all proceeds of production from the Clarkdale Slag Project (the “Project Royalty”). The Advance Royalty remains payable until the first to occur of: (i) the end of the first calendar year in which the Project Royalty equals or exceeds $500,000 or (ii) February 15, 2017. In any calendar year in which the Advance Royalty remains payable, the combined Advance Royalty and Project Royalty will not exceed $500,000; and,
		c)	The Company has agreed to pay VRIC an additional amount of $3,500,000 from the net cash flow of the Clarkdale Slag Project.
	The Advance Royalty shall continue for a period of ten years from the Agreement Date or until such time that the Project Royalty shall exceed $500,000 in any calendar year, at which time the Advance Royalty requirement shall cease.
	Clarkdale Slag Project royalty agreement - NMC - Under the original JV Agreement, the Company agreed to pay NMC a 5% royalty on NSR payable from the Company’s 50% joint venture interest in the production from the Clarkdale Slag Project. Upon the assignment to the Company of VRIC’s 50% interest in the Joint Venture Agreement in connection with the reorganization with Transylvania International, Inc., the Company continues to have an obligation to pay NMC a royalty consisting of 2.5% of the NSR on any and all proceeds of production from the Clarkdale Slag Project.
	On July 25, 2011, the Company and NMC entered into an amendment (the “Third Amendment”) to the assignment agreement between the parties dated June 1, 2005. Pursuant to the Third Amendment, the Company agreed to pay advance royalties (the “Advance Royalties”) to NMC of $15,000 per month (the “Minimum Royalty Amount”) effective as of January 1, 2011. The Third Amendment also provides that the Minimum Royalty Amount will continue to be paid to NMC in every month where the amount of royalties otherwise payable would be less than the Minimum Royalty Amount, and such Advance Royalties will be treated as a prepayment of future royalty payments. In addition, fifty percent of the aggregate consulting fees paid to NMC from 2005 through December 31, 2010 were deemed to be prepayments of any future royalty payments. As of December 31, 2010, aggregate consulting fees previously incurred amounted to $1,320,000, representing credit for advance royalty payments of $660,000.
	Total advance royalty payments to NMC were $45,000 and $45,000 for the three month periods ended June 30, 2014 and 2013, respectively, and $90,000 and $90,000 for the six month periods ended June 30, 2014 and 2013, respectively. Advanced royalty payments have been included in mineral exploration and evaluation expenses – related party on the statements of operations.
	Development agreement - In January 2009, the Company submitted a development agreement to the Town of Clarkdale for development of an Industrial Collector Road (the “Road”). The purpose of the Road is to provide the Company the capability to transport supplies, equipment and products to and from the Clarkdale Slag Project site efficiently and to meet stipulations of the Conditional Use Permit for the full production facility at the Clarkdale Slag Project.
	The timing of the development of the Road is to be within two years of the effective date of the agreement. The effective date shall be the later of (i) 30 days from the approving resolution of the agreement by the Council, (ii) the date on which the Town of Clarkdale obtains a connection dedication from separate property owners who have land that will be utilized in construction of the Road, or (iii) the date on which the Town of Clarkdale receives the proper effluent permit. The contingencies outlined in (ii) and (iii) above are beyond control of the Company.
	The Company estimates the initial cost of construction of the Road to be approximately $3,500,000 and the cost of additional enhancements to be approximately $1,200,000 which will be required to be funded by the Company. Based on the uncertainty of the contingencies, this cost is not included in the Company’s current operating plans. Funding for construction of the Road will require obtaining project financing or other significant financing. As of the date of this filing, these contingencies had not changed.
	Registration Rights Agreement - In connection with the June 7, 2012 private placement, the Company entered into a Registration Rights Agreement (“RRA”) with the purchasers. Pursuant to the RRA, the Company agreed to certain demand registration rights. These rights include the requirement that the Company file certain registration statements within a specified time period and to have these registration statements declared effective within a specified time period. The Company also agreed to file and keep continuously effective such additional registration statements until all of the shares of common stock registered thereunder have been sold or may be sold without volume restrictions. If the Company is not able to comply with these registration requirements, the Company will be required to pay cash penalties equal to 1.0% of the aggregate purchase price paid by the investors for each 30 day period in which a registration default, as defined by the RRA, exists. The maximum penalty is equal to 3.0% of the purchase price which amounts to $121,500. As of the date of this filing, the Company does not believe the penalty to be probable and accordingly, no liability has been accrued.
	Registration Rights Agreement - In connection with the September 18, 2013 convertible notes issuance, the Company entered into a RRA with the investors. Pursuant to the RRA, the Company agreed to file a registration statement covering the resale of the shares of common stock issuable upon conversion of the notes and the additional notes allowed for under the agreement. Pursuant to the RRA, the Company agreed to certain demand registration rights. These rights include the requirement that the Company file certain registration statements within a specified time period and to have these registration statements declared effective within a specified time period. The Company also agreed to file and keep continuously effective such additional registration statements until all of the shares of common stock registered thereunder have been sold or may be sold without volume restrictions. The Purchasers will also be granted piggyback registration rights with respect to such shares. If the Company is not able to comply with these registration requirements, the Company will be required to pay cash penalties equal to 1.0% of the purchase price. The maximum penalty is equal to 3.0% of the purchase price which amounts to $120,000 for the convertible notes and $18,000 for the additional notes. As of the date of this filing, the Company does not believe the penalty to be probable and accordingly, no liability has been accrued.

CONCENTRATION_OF_CREDIT_RISK

CONCENTRATION OF CREDIT RISK	6 Months Ended
	Jun. 30, 2014
CONCENTRATION OF CREDIT RISK [Abstract]	'
CONCENTRATION OF CREDIT RISK	'
	17	CONCENTRATION OF CREDIT RISK
	The Company maintains its cash accounts in financial institutions. Cash accounts at these financial institutions are insured by the Federal Deposit Insurance Corporation (the “FDIC”) for up to $250,000 per institution. The Company has never experienced a material loss or lack of access to its cash accounts; however, no assurance can be provided that access to the Company’s cash accounts will not be impacted by adverse conditions in the financial markets. At June 30, 2014, the Company did not have any deposits in excess of FDIC insured limits.

CONCENTRATION_OF_ACTIVITY

CONCENTRATION OF ACTIVITY	6 Months Ended
	Jun. 30, 2014
Concentration Of Activity [Abstract]	'
CONCENTRATION OF ACTIVITY	'
	18	CONCENTRATION OF ACTIVITY
	The Company currently utilizes a mining and environmental firm to perform significant portions of its mineral property and metallurgical exploration work programs. A change in the lead mining and environmental firm could cause a delay in the progress of the Company’s exploration programs and would cause the Company to incur significant transition expense and may affect operating results adversely.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	19. RELATED PARTY TRANSACTIONS
	NMC - The Company utilizes the services of NMC to provide technical assistance and financing related activities. In addition, NMC provides the Company with use of its laboratory, instrumentation, milling equipment and research facilities. One of the Company’s executive officers, Mr. Ager, is affiliated with NMC. Prior to January 1, 2011, the Company paid a negotiated monthly fee ranging from $15,000 to $30,000 plus reimbursement of expenses incurred. Effective January 1, 2011, the Company and NMC agreed to replace the monthly fee with an advance royalty payment of $15,000 per month and to reimburse NMC for actual expenses incurred and consulting services provided.
	The Company has an existing obligation to pay NMC a royalty consisting of 2.5% of the NSR on any and all proceeds of production from the Clarkdale Slag Project. The royalty agreement and advance royalty payments are more fully discussed in Note 16.
	The following table provides details of transactions between the Company and NMC for the three and six month periods ended June 30, 2014 and 2013.
		Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
		June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
	Reimbursement of expenses	$	784	$	578	$	2,600	$	2,092
	Consulting services provided		30,400		4,500		62,960		17,350
	Advance royalty payments		45,000		45,000		90,000		90,000
	Mineral and exploration expense – related party	$	76,184	$	50,078	$	155,560	$	109,442
	The Company had outstanding balances due to NMC of $103,945 and $37,896 at June 30, 2014 and December 31, 2013, respectively.
	Cupit, Milligan, Ogden & Williams, CPAs - The Company utilizes Cupit, Milligan, Ogden & Williams, CPAs (“CMOW”) to provide accounting support services. CMOW is an affiliate of our CFO, Mr. Williams. Fees for services provided by CMOW do not include any charges for Mr. Williams’ time. Mr. Williams is compensated for his time under his employment agreement.
	The following table provides details of transactions between the Company and CMOW and the direct benefit to Mr. Williams for the three and six month periods ended June 30, 2014 and 2013.
		Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
		June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
	Accounting support services	$	28,792	$	23,789	$	71,803	$	82,345
	Direct benefit to CFO	$	11,229	$	9,278	$	28,003	$	32,115
	The Company had an outstanding balance due to CMOW of $49,120 and $8,639 as of June 30, 2014 and December 31, 2013, respectively.
	Ireland Inc. – The Company leases corporate office space under a sublease agreement with Ireland Inc. (“Ireland”). NMC is a shareholder in both the Company and Ireland. Additionally, one of the Company’s directors is the CFO, Treasurer and a director of Ireland and the Company’s CEO provides consulting services to Ireland. The lease agreement commenced September 1, 2013, is for a two year period and requires monthly lease payments of $2,819 for the first year and $1,667 for the second year. The lease agreement did not require payment of a security deposit.
	Total rent expense incurred under this sublease agreement was $8,457 and $16,914 for the three and six month periods ended June 30, 2014, respectively. The Company had an outstanding balance due to Ireland of $5,638 as of June 30, 2014.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
		20	SUBSEQUENT EVENT
	On July 10, 2014, the Company completed the sale of a building and lot in Clarkdale, Arizona for gross proceeds of $250,000. The proceeds will be used for general operating purposes.

DESCRIPTION_OF_BUSINESS_HISTOR1

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Description of business	'
	Description of business - Searchlight Minerals Corp. (the “Company”) has been in the exploration stage since its formation, and the Company has not yet realized any revenues from its planned operations. The Company is primarily focused on the exploration, acquisition and development of mining and mineral properties. Upon the location of commercially minable reserves, the Company plans to prepare for mineral extraction and enter the development stage.
History	'
	History - The Company was incorporated on January 12, 1999 pursuant to the laws of the State of Nevada under the name L.C.M. Equity, Inc. From 1999 to 2005, the Company operated primarily as a biotechnology research and development company with its headquarters in Canada and an office in the United Kingdom (the “UK”). On November 2, 2001, the Company entered into an acquisition agreement with Regma Bio Technologies, Ltd. pursuant to which Regma Bio Technologies, Ltd. entered into a reverse merger with the Company with the surviving entity named “Regma Bio Technologies Limited”. On November 26, 2003, the Company changed its name from “Regma Bio Technologies Limited” to “Phage Genomics, Inc” (“Phage”).
	In February 2005, the Company announced its reorganization from a biotechnology research and development company to a company focused on the development and acquisition of mineral properties. In connection with its reorganization the Company entered into mineral option agreements to acquire an interest in the Searchlight Claims. Also in connection with its corporate restructuring, its Board of Directors approved a change in its name from Phage to "Searchlight Minerals Corp.” effective June 23, 2005.
Going concern	'
	Going concern - The accompanying unaudited condensed consolidated financial statements were prepared on a going concern basis in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The going concern basis of presentation assumes that the Company will continue in operation for the next twelve months and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the Company’s inability to continue as a going concern. The Company’s history of losses, working capital deficit, capital deficit, minimal liquidity and other factors raise substantial doubt about the Company’s ability to continue as a going concern. In order for the Company to continue operations beyond the next twelve months and be able to discharge its liabilities and commitments in the normal course of business it must raise additional equity or debt capital and continue cost cutting measures. There can be no assurance that the Company will be able to achieve sustainable profitable operations or obtain additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to management.
	If the Company continues to incur operating losses and does not raise sufficient additional capital, material adverse events may occur including, but not limited to, 1) a reduction in the nature and scope of the Company’s operations and 2) the Company’s inability to fully implement its current business plan. There can be no assurance that the Company will successfully improve its liquidity position. The accompanying unaudited condensed consolidated financial statements do not reflect any adjustments that might be required resulting from the adverse outcome relating to this uncertainty.
	As of June 30, 2014, the Company had cumulative net losses of $38,966,906 from operations and had not commenced its commercial mining and mineral processing operations; rather it is still in the exploration stage. For the six month period ended June 30, 2014, the Company incurred a net loss of $2,074,700, had negative cash flows from operating activities of $1,844,145 and will incur additional future losses due to planned continued exploration expenses. In addition, the Company had a working capital deficit totaling $942,303 at June 30, 2014.
	To address liquidity constraints, the Company will seek additional sources of capital through the issuance of equity or debt financing. Additionally, the Company has reduced expenses and elected to defer payment of certain obligations. Cash conservation measures include, but are not limited to, the deferred payment of outsourced consulting fees where available, deferred payment of current and future board fees and reduction of staffing levels. The Company reduced staffing levels from December 31, 2013 through June 2014, constituting annual savings of approximately $313,000. The Company has deferred payment of officer salaries, monthly legal retainer fees, and the Verde River Iron Company, LLC (“VRIC”) monthly payable. These activities have reduced the required cash outlay of the Company’s business significantly. The Company is focused on continuing to reduce costs and obtaining additional funding. There is no assurance that such funding will be available on terms acceptable to the Company, or at all. If the Company raises additional funds by selling additional shares of capital stock, securities convertible into shares of capital stock or the issuance of convertible debt, the ownership interest of the Company’s existing common stock holders will be diluted.
Basis of presentation	'
	Basis of presentation - The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company’s fiscal year-end is December 31.
	These condensed consolidated financial statements have been prepared without audit in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments and disclosures necessary for the fair presentation of these interim statements have been included. All such adjustments are, in the opinion of management, of a normal recurring nature. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC on March 28, 2014.
Principles of consolidation	'
	Principles of consolidation - The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Clarkdale Minerals, LLC (“CML”) and Clarkdale Metals Corp. (“CMC”). Significant intercompany accounts and transactions have been eliminated.
Use of estimates	'
	Use of estimates - The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include the valuation of stock-based compensation and derivative liabilities, impairment analysis of long-lived assets, and realizability of deferred tax assets. Actual results could differ from those estimates.
Capitalized interest cost	'
	Capitalized interest cost - The Company capitalizes interest cost related to acquisition, development and construction of property and equipment which is designed as integral parts of the manufacturing process. The capitalized interest is recorded as part of the asset it relates to and will be amortized over the asset’s useful life once production commences.
Mineral properties	'
	Mineral properties - Costs of acquiring mineral properties are capitalized upon acquisition. Exploration costs and costs to maintain mineral properties are expensed as incurred while the project is in the exploration stage. Once mineral reserves are established, development costs and costs to maintain mineral properties are capitalized as incurred while the property is in the development stage. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production method over the proven and probable reserves.
Mineral exploration and development costs	'
	Mineral exploration and development costs - Exploration expenditures incurred prior to entering the development stage are expensed and included in mineral exploration and evaluation expense.
Property and equipment	'
	Property and equipment - Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 39 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operating expenses.
Impairment of long-lived assets	'
	Impairment of long-lived assets - The Company reviews and evaluates its long-lived assets for impairment at each balance sheet date due to its planned exploration stage losses and documents such impairment testing. Mineral properties in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the property, exploration reports, drill results, technical reports and continued plans to fund exploration programs on the property.
	The tests for long-lived assets in the exploration, development or production stage that would have a value beyond proven and probable reserves would be monitored for impairment based on factors such as current market value of the mineral property and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net cash flows expected to be generated by the asset, including evaluating its reserves beyond proven and probable amounts.
	The Company's policy is to record an impairment loss in the period when it is determined that the carrying amount of the asset may not be recoverable either by impairment or by abandonment of the property. The impairment loss is calculated as the amount by which the carrying amount of the assets exceeds its fair value. To date, no such impairments have been identified.
Deferred financing fees	'
	Deferred financing fees – Deferred financing fees represent fees paid in connection with obtaining debt financing. These fees are amortized using the effective interest method over the term of the financing.
Derivative Liabilities	'
	Convertible notes – derivative liabilities – The Company evaluates the embedded features of convertible notes to determine if they are required to be bifurcated and recorded as a derivative liability. If more than one feature is required to be bifurcated, the features are accounted for as a single compound derivative. The fair value of the compound derivative is recorded as a derivative liability and a debt discount. The carrying value of the convertible notes was recorded on the date of issuance at its original value less the fair value of the compound derivative.
	The derivative liability is measured at fair value on a recurring basis with changes reported in other income (expense). Fair value is determined using a model which incorporates estimated probabilities and inputs calculated by both the Binomial Lattice model and present values. The debt discount is amortized to non-cash interest expense using the effective interest method over the life of the notes. If a conversion of the underlying note occurs, a proportionate share of the unamortized amount is immediately expensed.
Reclamation and remediation costs	'
	Reclamation and remediation costs - For its exploration stage properties, the Company accrues the estimated costs associated with environmental remediation obligations in the period in which the liability is incurred or becomes determinable. Until such time that a project life is established, the Company records the corresponding cost as an exploration stage expense. The costs of future expenditures for environmental remediation are not discounted to their present value unless subject to a contractually obligated fixed payment schedule.
	Future reclamation and environmental-related expenditures are difficult to estimate in many circumstances due to the early stage nature of the exploration project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation or remediation technology. The Company periodically reviews accrued liabilities for such reclamation and remediation costs as evidence indicating that the liabilities have potentially changed becomes available. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised.
	The Company is in the exploration stage and is unable to determine the estimated timing of expenditures relating to reclamation accruals. It is reasonably possible that the ultimate cost of reclamation and remediation could change in the future and that changes to these estimates could have a material effect on future operating results as new information becomes known.
Fair value of financial instruments	'
	Fair value of financial instruments - The Company’s financial instruments consist principally of derivative liabilities and the VRIC payable. Assets and liabilities measured at fair value are categorized based on whether the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels defined as follows:
	Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
	Level 2	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
	Level 3	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	The Company’s financial instruments consist of the VRIC payable (described in Note 10) and derivative liabilities. The VRIC payable is classified within Level 2 of the fair value hierarchy. The fair value approximates carrying value as the imputed interest rate is considered to approximate a market interest rate.
	The Company calculates the fair value of its derivative liabilities using various models which are all Level 3 inputs. The fair value of the derivative warrant liability (described in Note 7) is calculated using the Binomial Lattice model, and the fair value of the derivative liability - convertible notes (described in Note 9) is calculated using a model which incorporates estimated probabilities and inputs calculated by both the Binomial Lattice model and present values. The change in fair value of the derivative liabilities is classified in other income (expense) in the consolidated statement of operations. The Company generally does not use derivative financial instruments to hedge exposures to cash flow, market or foreign currency risks.
	There has been no change in the valuation technique used for the derivative warrant liability since its inception. The valuation technique for the derivative liability – convertible debt was adopted upon its inception, in the third quarter of 2013. The Company does not have any non-financial assets or liabilities that it measures at fair value. During the six month periods ended June 30, 2014 and 2013, there were no transfers of assets or liabilities between levels.
Per share amounts	'
	Per share amounts - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities. Potentially dilutive shares, such as stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock and when a net loss is reported. The dilutive effect of convertible debt securities is reflected in the diluted earnings (loss) per share calculation using the if-converted method. Conversion of the debt securities is not assumed for purposes of calculating diluted earnings (loss) per share if the effect is anti-dilutive. At June 30, 2014 and 2013, 36,845,320 and 26,300,390 stock options, warrants and common shares issuable upon the conversion of notes were outstanding, respectively, but were not considered in the computation of diluted earnings per share as their inclusion would be anti-dilutive.
Stock-based compensation	'
	Stock-based compensation - Stock-based compensation awards are recognized in the consolidated financial statements based on the grant date fair value of the award which is estimated using the Binomial Lattice option pricing model. The Company believes that this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for the actual exercise behavior of option holders. The compensation cost is recognized over the requisite service period which is generally equal to the vesting period. Upon exercise, shares issued will be newly issued shares from authorized common stock.
	The fair value of performance-based stock option grants is determined on their grant date through the use of the Binomial Lattice option pricing model. The total value of the award is recognized over the requisite service period only if management has determined that achievement of the performance condition is probable. The requisite service period is based on management’s estimate of when the performance condition will be met. Changes in the requisite service period or the estimated probability of achievement can materially affect the amount of stock-based compensation recognized in the financial statements.
	The Company accounts for stock options issued to non-employees based on the estimated fair value of the awards using the Binomial Lattice option pricing model. The measurement of stock-based compensation to non-employees is subject to periodic adjustments as the underlying equity instruments vest, and the resulting change in value, if any, is recognized in the Company’s consolidated statements of operations during the period the related services are rendered.
Income taxes	'
	Income taxes - The Company follows the liability method of accounting for income taxes. This method recognizes certain temporary differences between the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset as measured by the statutory tax rates in effect. The effect of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.
	For acquired properties that do not constitute a business, a deferred income tax liability is recorded on GAAP basis over income tax basis using statutory federal and state rates. The resulting estimated future income tax liability associated with the temporary difference between the acquisition consideration and the tax basis is computed in accordance with Accounting Standards Codification (“ASC”) 740-10-25-51, Acquired Temporary Differences in Certain Purchase Transactions that are Not Accounted for as Business Combinations, and is reflected as an increase to the total purchase price which is then applied to the underlying acquired assets in the absence of there being a goodwill component associated with the acquisition transactions.
Recent accounting standards	'
	Recent accounting standards - From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption.
	In June 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. This ASU does the following, among other things: a) eliminates the requirement to present inception-to-date information on the statements of income, cash flows, and shareholders’ equity, b) eliminates the need to label the financial statements as those of a development stage entity, c) eliminates the need to disclose a description of the development stage activities in which the entity is engaged, and d) amends FASB ASC 275, Risks and Uncertainties, to clarify that information on risks and uncertainties for entities that have not commenced planned principal operations is required. The amendments in ASU No. 2014-10 are effective for public companies for annual and interim reporting periods beginning after December 15, 2014. Early adoption is permitted. The Company has elected early adoption of the new standard applied retrospectively. Adoption of the new guidance had no impact on the consolidated financial position, results of operations or cash flows.

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2014
PROPERTY AND EQUIPMENT [Abstract]	'
Schedule of Property and Equipment	'
	Property and equipment consisted of the following:
		June 30, 2014						December 31, 2013
		Cost		Accumulated		Net Book Value		Cost		Accumulated		Net Book Value
				Depreciation						Depreciation
	Furniture and fixtures	$	38,255	$	-37,018	$	1,237	$	38,255	$	-35,759	$	2,496
	Lab equipment		249,061		-244,224		4,837		249,061		-240,258		8,803
	Computers and
	equipment		91,002		-72,229		18,773		91,002		-67,775		23,227
	Income property		-		-		-		309,750		-18,311		291,439
	Vehicles		47,675		-45,108		2,567		47,675		-44,758		2,917
	Slag conveyance
	equipment		300,916		-266,629		34,287		300,916		-230,124		70,792
	Demo module building		6,630,063		-3,532,357		3,097,706		6,630,063		-3,200,854		3,429,209
	Grinding circuit		913,678		-6,667		907,011		913,678		-1,666		912,012
	Extraction circuit		938,352		-181,557		756,795		898,909		-89,891		809,018
	Leaching and filtration		1,300,618		-910,433		390,185		1,300,618		-780,371		520,247
	Fero-silicate storage		4,326		-1,514		2,812		4,326		-1,298		3,028
	Electrowinning building		1,492,853		-522,499		970,354		1,492,853		-447,856		1,044,997
	Site improvements		1,675,907		-529,298		1,146,609		1,651,143		-467,306		1,183,837
	Site equipment		360,454		-324,104		36,350		360,454		-309,051		51,403
	Construction in		1,102,014		-		1,102,014		1,102,014		-		1,102,014
	progress
		$	15,145,174	$	-6,673,637	$	8,471,537	$	15,390,717	$	-5,935,278	$	9,455,439

CLARKDALE_SLAG_PROJECT_Tables

CLARKDALE SLAG PROJECT (Tables)	6 Months Ended
	Jun. 30, 2014
Business Combinations [Abstract]	'
Schedule of Clarkdale Slag Project	'
	The following table reflects the recorded purchase consideration for the Clarkdale Slag Project:
	Purchase price:
	Cash payments	$	10,100,000
	Joint venture option acquired in 2005 for cash		690,000
	Warrants issued for joint venture option		1,918,481
	Common stock issued		66,879,375
	Monthly payments, current portion		167,827
	Monthly payments, net of current portion		2,333,360
	Acquisition costs		127,000
	Total purchase price		82,216,043
	Net deferred income tax liability assumed - Clarkdale Slag Project		48,076,734
	Total	$	130,292,777
	The following table reflects the components of the Clarkdale Slag Project:
	Allocation of acquisition cost:
	Clarkdale Slag Project (including net deferred income tax liability assumed of $48,076,734)	$	120,766,877
	Land - smelter site and slag pile		5,916,150
	Land		3,300,000
	Income property and improvements		309,750
	Total	$	130,292,777
	The following table sets forth the change in the Slag Project for the six month period ended June 30, 2014 and the year ended December 31, 2013:
		June 30,		December 31,
		2014		2013
	Slag Pile, beginning balance	$	121,759,811	$	121,667,730
	Capitalized interest costs		25,840		92,081
	Slag Pile, ending balance	$	121,785,651	$	121,759,811

ACCOUNTS_PAYABLE_AND_ACCRUED_L1

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2014
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES [Abstract]	'
Schedule of Accounts Payable and Accrued Liabilities	'
	Accounts payable and accrued liabilities at June 30, 2014 and December 31, 2013 consisted of the following:
		June 30, 2014		December 31, 2013
	Trade accounts payable	$	529,524	$	70,272
	Accrued compensation and related taxes		190,247		45,469
	Accrued interest		79,333		79,800
		$	799,104	$	195,541

DERIVATIVE_WARRANT_LIABILITY_T

DERIVATIVE WARRANT LIABILITY (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative [Line Items]	'
Schedule Of Fair Value Assumptions Warrants	'
	With respect to the extensions, the Company did not recognize any additional expense as the fair values of the warrants were calculated at zero using the Binomial Lattice model with the following assumptions:
		October 25, 2013					November 1, 2012
	Risk-free interest rate			0.11	%			0.19	%
	Expected volatility			114.79	%			94.94	%
	Expected life (years)			1				1
Schedule of Assumptions used to Establish Valuation of Warrants	'
	The Company estimates the fair value of the derivative liabilities by using the Binomial Lattice pricing-model, with the following assumptions used for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30, 2014		December 31, 2013
	Dividend yield		-		-
	Expected volatility		84.11% - 118.69%		90.98% - 121.32%
	Risk-free interest rate		0.07% - 0.10%		0.01% - 0.13%
	Expected life (years)		0.40 - 0.60		0.10 - 0.90
Warrant [Member]	'
Derivative [Line Items]	'
Schedule of Changes in Fair Value of Derivative Liabilities	'
	The following table sets forth the changes in the fair value of the derivative liability for the six month period ended June 30, 2014 and the year ended December 31, 2013:
			June 30, 2014			December 31, 2013
	Beginning balance		$	-81,574		$	-274,706
	Adjustment to warrants			-			-
	Change in fair value			77,940			193,132
	Ending balance		$	-3,634		$	-81,574

CONVERTIBLE_NOTES_Tables

CONVERTIBLE NOTES (Tables)	6 Months Ended
	Jun. 30, 2014
Convertible Debt [Abstract]	'
Convertible Debt	'
	The carrying value of the convertible debt, net of discount was comprised of the following at June 30, 2014 and December 31, 2013:
		June 30, 2014		December 31, 2013
	Convertible notes at face value	$	4,000,000	$	4,000,000
	Unamortized discount		-1,093,819		-1,201,494
	Convertible notes, net of discount	$	2,906,181	$	2,798,506
Schedule Of Notes Payable	'
	The effective interest rate on the Notes is 15.4% which included the following components and amounts for the three and six month periods ended June 30, 2014:
		Three Months		Six Months
		Ended June 30,		Ended June 30,
		2014		2014
	Interest rate at 7%	$	69,533	$	139,533
	Amortization of debt discount		54,166		107,676
	Amortization of deferred financing fees		5,625		11,182
	Total interest expense on convertible notes	$	129,324	$	258,391

DERIVATIVE_LIABILITY_CONVERTIB1

DERIVATIVE LIABILITY - CONVERTIBLE NOTES (Tables)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]	'
Schedule Of Fair Value Assumptions	'
	Assumptions used for the six month period ended June 30, 2014 and the year ended December 31, 2013 included redemption and conversion estimates/behaviors, estimates regarding future anti-dilutive financing agreements and the following other significant estimates:
		June 30, 2014		December 31, 2013
	Expected volatility	96.46% - 107.84%		93.11% - 101.74%
	Risk-free interest rate	1.25 % - 1.73%		1.39% - 1.75%
	Expected life (years)	2.50 - 3.0		4.25 – 4.75
Convertible Notes Payable [Member]	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Schedule Of Derivative Liabilities At Fair Value	'
	The following table sets forth the changes in the fair value of the derivative liability for the six month period ended June 30, 2014 and the year ended December 31, 2013:
		June 30, 2014			December 31, 2013
	Beginning balance	$	755,709		$	-
	Issuance of convertible debt		-			1,261,285
	Change in fair value		-125,855			-505,576
	Ending balance	$	629,854		$	755,709

VRIC_PAYABLE_RELATED_PARTY_Tab

VRIC PAYABLE - RELATED PARTY (Tables)	6 Months Ended
	Jun. 30, 2014
Other Liabilities Disclosure [Abstract]	'
Schedule of Future Principal Payments on VRIC Payable	'
	The following table represents future minimum payments on the VRIC payable for each of the twelve month periods ending June 30,
	2015	$	420,000
	2016		360,000
	2017		240,000
	Thereafter		-
	Total minimum payments		1,020,000
	Less: amount representing interest		-110,039
	Present value of minimum payments		909,961
	VRIC payable, current portion		349,985
	VRIC payable, net of current portion	$	559,976

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables) (Private Placement [Member])	6 Months Ended
	Jun. 30, 2014
Private Placement [Member]	'
Stockholders Equity Note [Line Items]	'
Schedule of Stockholders Equity Note, Warrants or Rights	'
	The following table summarizes the Company’s private placement warrant activity for the six month period ended June 30, 2014:
		Number of		Weighted	Weighted
		Shares		Average	Average
				Exercise Price	Remaining
					Contractual
					Life
					(Years)
	Balance, December 31, 2013	14,200,935	$	1.74	0.87
	Warrants granted	-		-	-
	Warrants expired	-		-	-
	Warrants exercised	-		-	-
	Balance, June 30, 2014	14,200,935	$	1.74	0.37

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Assumptions Used to Estimate Fair Value of Stock Based Compensation Awards	'
	For both service-based and performance-based stock option grants, the Company estimates the fair value of stock-based compensation awards by using the Binomial Lattice option pricing model with the following assumptions used for the six month periods ended June 30, 2014 and 2013:
			June 30, 2014			June 30, 2013
	Risk-free interest rate			0.39% - 1.73%			0.77%-1.41%
	Dividend yield			-			-
	Expected volatility			98.65% - 105.87%			90.39%-95.66%
	Expected life (years)			2.00 - 4.25			4.25
Summary of Stock-based Compensation Activity	'
		The following table summarizes the Company’s stock-based compensation activity for the six month period ended June 30, 2014:
			Number of		Weighted			Weighted		Weighted	Aggregate
			Shares		Average Grant			Average		Average	Intrinsic
					Date Fair			Exercise Price		Remaining	Value
					Value					Contractual
										Life
										(Years)
	Outstanding, December 31, 2013		3,800,331		$	0.56		$	1.01	3.76
	Options/warrants granted		108,000			0.09			0.25	4.88
	Options/warrants expired		-13,946			1.13			2.58	-
	Options/warrants forfeited		-			-			-	-
	Options/warrants exercised		-			-			-	-
	Outstanding, June 30, 2014		3,894,385		$	0.55		$	0.98	3.42	$	-
	Exercisable, June 30, 2014		3,494,385		$	0.51		$	0.97	3.04	$	-
Schedule of Changes to Stock Based Compensation Awards Subject to Vesting	'
	The following table summarizes the changes of the Company’s stock-based compensation awards subject to vesting for the six month period ended June 30, 2014:
			Number of			Weighted
			Shares Subject			Average
			to Vesting			Grant Date
						Fair Value
	Unvested, December 31, 2013			450,000		$	0.95
	Options/warrants granted			-			-
	Options/warrants vested			-50,000			1.49
	Options/warrants cancelled			-			-
	Unvested, June 30, 2014			400,000		$	0.88

INCOME_TAXES_Tables

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Net Deferred Tax Assets and Liabilities	'
	Significant components of the Company’s net deferred income tax assets and liabilities at June 30, 2014 and December 31, 2013 were as follows:
		June 30,		December 31,
		2014		2013
	Deferred income tax assets:
	Net operating loss carryforward	$	17,885,849	$	16,822,317
	Option compensation		717,582		763,779
	Asset held for sale		17,144		-
	Property, plant & equipment		1,142,379		1,021,685
	Gross deferred income tax assets		19,762,954		18,607,781
	Less: valuation allowance		-582,163		-733,287
	Net deferred income tax assets		19,180,791		17,874,494
	Deferred income tax liabilities:
	Acquisition related liabilities		-55,197,465		-55,197,465
	Net deferred income tax liability	$	-36,016,674	$	-37,322,971
Schedule of Reconciliation of Deferred Income Tax Benefit	'
	A reconciliation of the deferred income tax benefit for the three month periods ended June 30, 2014 and 2013 at US federal and state income tax rates to the actual tax provision recorded in the financial statements consisted of the following components:
		June 30, 2014		June 30, 2013
	Deferred tax benefit at statutory rates	$	611,209	$	581,561
	State deferred tax benefit, net of federal benefit		52,389		49,848
	Increase (decrease) in deferred tax benefit from:
	Change in valuation allowance		50,938		-67,046
	Change in state NOL’s		-47,874		-34,841
	Gain on the change in fair value of derivative liabilities		2,013		23,120
	Other permanent differences		-85,765		-4,663
	Deferred income tax benefit	$	582,910	$	547,979
	A reconciliation of the deferred income tax benefit for the six month periods ended June 30, 2014 and 2013 at US federal and state income tax rates to the actual tax provision recorded in the financial statements consisted of the following components:
		June 30, 2014		June 30, 2013
	Deferred tax benefit at statutory rates	$	1,183,349	$	1,118,061
	State deferred tax benefit, net of federal benefit		101,430		95,834
	Increase (decrease) in deferred tax benefit from:
	Change in valuation allowance		151,124		-94,725
	Change in state NOL’s		-95,748		-69,681
	Gain (loss) on the change in fair value of derivative warrant liability		77,442		104,388
	Other permanent differences		-111,300		-9,271
	Deferred income tax benefit	$	1,306,297	$	1,144,606

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Contractual Obligation Fiscal Year Maturity Schedule	'
	The following table represents future rent payments for each of the twelve month periods ending June 30,
	2015	$	22,308
	2016		3,334
	Thereafter		-
		$	25,642

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2014
Nanominerals Corporation [Member]	'
Related Party Transaction [Line Items]	'
Schedule of Related Party Transactions	'
	The following table provides details of transactions between the Company and NMC for the three and six month periods ended June 30, 2014 and 2013.
		Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
		June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
	Reimbursement of expenses	$	784	$	578	$	2,600	$	2,092
	Consulting services provided		30,400		4,500		62,960		17,350
	Advance royalty payments		45,000		45,000		90,000		90,000
	Mineral and exploration expense – related party	$	76,184	$	50,078	$	155,560	$	109,442
Cupit Milligan Ogden Williams Certified Public Accountants [Member]	'
Related Party Transaction [Line Items]	'
Schedule of Related Party Transactions	'
	The following table provides details of transactions between the Company and CMOW and the direct benefit to Mr. Williams for the three and six month periods ended June 30, 2014 and 2013.
		Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
		June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
	Accounting support services	$	28,792	$	23,789	$	71,803	$	82,345
	Direct benefit to CFO	$	11,229	$	9,278	$	28,003	$	32,115

DESCRIPTION_OF_BUSINESS_HISTOR2

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Additional Information) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Organization And Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Accumulated deficit during exploration stage	$38,966,906	'	$38,966,906	'
Net loss	-1,163,401	-1,113,624	-2,074,700	-2,049,853
Cash flows from operating activities	'	'	-1,844,145	-2,788,972
Annual Savings	'	'	313,000	'
Working Capital Deficit	$942,303	'	$942,303	'
Minimum [Member]	'	'	'	'
Organization And Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Property and equipment, estimated useful lives	'	'	'3 years	'
Maximum [Member]	'	'	'	'
Organization And Summary Of Significant Accounting Policies [Line Items]	'	'	'	'
Property and equipment, estimated useful lives	'	'	'39 years	'

PROPERTY_AND_EQUIPMENT_Additio

PROPERTY AND EQUIPMENT (Additional Information) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'
Depreciation expense	$379,169	$342,288	$757,993	$684,396

PROPERTY_AND_EQUIPMENT_Details

PROPERTY AND EQUIPMENT (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'
Cost	$15,145,174	$15,390,717
Accumulated Depreciation	-6,673,637	-5,935,278
Net Book Value	8,471,537	9,455,439
Furniture and Fixtures [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	38,255	38,255
Accumulated Depreciation	-37,018	-35,759
Net Book Value	1,237	2,496
Lab Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	249,061	249,061
Accumulated Depreciation	-244,224	-240,258
Net Book Value	4,837	8,803
Computers and Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	91,002	91,002
Accumulated Depreciation	-72,229	-67,775
Net Book Value	18,773	23,227
Income property [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	0	309,750
Accumulated Depreciation	0	-18,311
Net Book Value	0	291,439
Vehicles [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	47,675	47,675
Accumulated Depreciation	-45,108	-44,758
Net Book Value	2,567	2,917
Slag conveyance equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	300,916	300,916
Accumulated Depreciation	-266,629	-230,124
Net Book Value	34,287	70,792
Demo Module Building [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	6,630,063	6,630,063
Accumulated Depreciation	-3,532,357	-3,200,854
Net Book Value	3,097,706	3,429,209
Grinding Circuit [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	913,678	913,678
Accumulated Depreciation	-6,667	-1,666
Net Book Value	907,011	912,012
Extraction Circuit [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	938,352	898,909
Accumulated Depreciation	-181,557	-89,891
Net Book Value	756,795	809,018
Leaching And Filtration [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	1,300,618	1,300,618
Accumulated Depreciation	-910,433	-780,371
Net Book Value	390,185	520,247
Fero-silicate storage [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	4,326	4,326
Accumulated Depreciation	-1,514	-1,298
Net Book Value	2,812	3,028
Electrowinning Building [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	1,492,853	1,492,853
Accumulated Depreciation	-522,499	-447,856
Net Book Value	970,354	1,044,997
Site improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	1,675,907	1,651,143
Accumulated Depreciation	-529,298	-467,306
Net Book Value	1,146,609	1,183,837
Site equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	360,454	360,454
Accumulated Depreciation	-324,104	-309,051
Net Book Value	36,350	51,403
Construction in Progress [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Cost	1,102,014	1,102,014
Accumulated Depreciation	0	0
Net Book Value	$1,102,014	$1,102,014

ASSETS_HELD_FOR_SALE_Additiona

ASSETS HELD FOR SALE (Additional Information) (Details) (USD $)	3 Months Ended
	Jun. 30, 2014
Operating Leased Assets [Line Items]	'
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	$290,115
Impairment of Long-Lived Assets to be Disposed of	45,115
Assets Held-for-sale [Member]	'
Operating Leased Assets [Line Items]	'
Proceeds from Sale of Property, Plant, and Equipment	250,000
Cost Of Sales Property Plant And Equipment	$5,000

CLARKDALE_SLAG_PROJECT_Additio

CLARKDALE SLAG PROJECT (Additional Information) (Details) (USD $)

6 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jul. 25, 2011

Dec. 31, 2010

Feb. 28, 2007

Jun. 30, 2014

Feb. 28, 2007

Feb. 28, 2007

Feb. 28, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 28, 2007

Land Smelter Site And Slag Pile [Member]

Land [Member]

Building and Building Improvements [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Land Smelter Site And Slag Pile [Member]

Land [Member]

Building and Building Improvements [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Scenario, Previously Reported [Member]

Scenario, Previously Reported [Member]

Minimum [Member]

Project Royalty [Member]

Royalty Payments [Member]

Cash Flow [Member]

On Execution Of Letter Agreement [Member]

On Closing Date [Member]

Scenario, Previously Reported [Member]

Monthly Payment [Member]

Nanominerals Corporation [Member]

Noncash or Part Noncash Acquisitions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase of assets, ownership interest acquired

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Joint venture ownership interest

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

50.00%

'

'

'

'

'

'

'

'

50.00%

'

'

Allocation of acquisition cost

'

'

$5,916,150

$3,300,000

$309,750

'

'

$120,766,877

$120,766,877

$5,916,150

$3,300,000

$309,750

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16,825,000

'

'

'

'

'

'

'

'

'

'

Common stock issued, per share

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$3.98

'

'

'

'

'

'

'

'

'

'

Monthly payments, current portion

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30,000

'

'

'

'

'

200,000

9,900,000

'

30,000

'

Monthly payment Period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'90 days

'

'

'

'

'

'

'

'

'

'

Additional contingent payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,400,000

'

'

500,000

3,500,000

'

'

'

'

'

Advance royalty payment amount

'

'

'

'

'

15,000

660,000

'

'

'

'

'

'

'

'

'

'

500,000

500,000

'

'

'

'

'

'

'

'

Royalty payment percentage

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

5.00%

'

'

'

'

2.50%

'

'

'

'

'

'

2.50%

Accumulated Capitalized Interest Costs

1,018,774

992,934

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase of assets, purchase price

$130,292,777

'

'

'

'

'

'

$130,300,000

$130,292,777

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

CLARKDALE_SLAG_PROJECT_Purchas

CLARKDALE SLAG PROJECT (Purchase Consideration for Clarkdale Slag Project) (Details) (USD $)	1 Months Ended	6 Months Ended
	Feb. 28, 2007	Jun. 30, 2014
Purchase price:	'	'
Total	'	$130,292,777
Clarkdale Slag Project [Member]	'	'
Purchase price:	'	'
Cash payments	'	10,100,000
Joint venture option acquired in 2005 for cash	'	690,000
Warrants issued for joint venture option	'	1,918,481
Common stock issued	'	66,879,375
Acquisition costs	'	127,000
Total purchase price	'	82,216,043
Net deferred income tax liability assumed - Clarkdale Slag Project	'	48,076,734
Total	130,300,000	130,292,777
Clarkdale Slag Project [Member] | Current Liabilities [Member]	'	'
Purchase price:	'	'
Monthly payments, current portion	'	167,827
Clarkdale Slag Project [Member] | Noncurrent Liabilities [Member]	'	'
Purchase price:	'	'
Monthly payments, net of current portion	'	$2,333,360

CLARKDALE_SLAG_PROJECT_Compone

CLARKDALE SLAG PROJECT (Components of Clarkdale Slag Project) (Details) (USD $)	1 Months Ended	6 Months Ended
	Feb. 28, 2007	Jun. 30, 2014
Purchase price:	'	'
Total	'	$130,292,777
Land Smelter Site And Slag Pile [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	'	5,916,150
Land [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	'	3,300,000
Building and Building Improvements [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	'	309,750
Clarkdale Slag Project [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	120,766,877	120,766,877
Total	130,300,000	130,292,777
Clarkdale Slag Project [Member] | Land Smelter Site And Slag Pile [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	5,916,150	'
Clarkdale Slag Project [Member] | Land [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	3,300,000	'
Clarkdale Slag Project [Member] | Building and Building Improvements [Member]	'	'
Purchase price:	'	'
Allocation of acquisition cost	$309,750	'

CLARKDALE_SLAG_PROJECT_Changes

CLARKDALE SLAG PROJECT (Changes in the Slag Project) (Details) (Slag Project [Member], USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Slag Project [Member]	'	'
Noncash or Part Noncash Acquisitions [Line Items]	'	'
Slag Pile, beginning balance	$121,759,811	$121,667,730
Capitalized interest costs	25,840	92,081
Slag Pile, ending balance	$121,785,651	$121,759,811

MINERAL_PROPERTIES_MINING_CLAI1

MINERAL PROPERTIES - MINING CLAIMS (Additional Information) (Details) (USD $)	6 Months Ended		1 Months Ended	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2008	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
	acre		Mining Properties and Mineral Rights [Member]	Staked Mining Claims [Member]	Double Staked Mining Claims [Member]	Mining Claims [Member]	Mining Claims [Member]
				acre	acre
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]	'	'	'	'	'	'	'
Mining claims, area of property	3,200	'	'	160	142	'	'
Mineral properties balance	'	'	'	'	'	$16,947,419	$16,947,419
Issuance of common stock for mining claims	'	'	5,600,000	'	'	'	'
Malpractice Loss Contingency, Letters of Credit and Surety Bonds	$11,466	$11,466	'	'	'	'	'

ACCOUNTS_PAYABLE_AND_ACCRUED_L2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Accounts Payable And Accrued Liabilities [Line Items]	'	'
Trade accounts payable	$529,524	$70,272
Accrued compensation and related taxes	190,247	45,469
Accrued interest	79,333	79,800
Accounts payable and accrued liabilities	$799,104	$195,541

DERIVATIVE_WARRANT_LIABILITY_A

DERIVATIVE WARRANT LIABILITY (Additional Information) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Nov. 30, 2009	Nov. 30, 2009	Nov. 12, 2009	Jun. 30, 2014	Nov. 12, 2009	Jun. 30, 2014
	Warrant [Member]	Warrant [Member]	Warrant [Member]	Warrant [Member]	Subsequent Event [Member]	Warrant Amendment [Member]	Private Placement [Member]	Private Placement [Member]	Private Placement [Member]	Private Placement [Member]	Private Placement [Member]
			Maximum [Member]	Minimum [Member]					Luxor Capital Partners LP [Member]	Stock Issuance Costs [Member]	Scenario Cumulative Adjustment [Member]
Derivative [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Shares of common stock issued	'	'	'	'	'	'	12,078,596	'	'	'	'
Stock Units Issued	'	'	'	'	'	'	12,078,596	'	'	'	'
Shares of common stock that can be purchased by the warrants	'	'	'	'	'	'	'	6,039,298	'	301,965	817,285
Commission paid to agents	'	'	'	'	'	'	$1,056,877	'	'	'	'
Total number of warrants that anti dilution rights were waived on	'	'	'	'	'	'	'	'	4,252,883	'	'
Warrants issued exercisable date	'	'	'	'	'	'	12-Nov-09	'	'	'	'
Exercise price of warrant	'	'	$1.85	$1.62	'	'	'	$1.85	$1.65	'	'
Warrants expiration date	'	'	'	'	12-Nov-14	12-Nov-13	12-Nov-12	'	'	'	'
Warrants Transferred	'	'	'	'	'	'	'	'	269,956	'	'
Derivative Liability, Number of Instruments Held	7,158,548	7,158,548	'	'	'	'	'	'	'	'	'

DERIVATIVE_WARRANT_LIABILITY_S

DERIVATIVE WARRANT LIABILITY (Schedule of Fair Value of Warrants) (Details) (Warrant [Member])	1 Months Ended
	Oct. 25, 2013	Nov. 01, 2012
Warrant [Member]	'	'
Derivative [Line Items]	'	'
Risk-free interest rate	0.11%	0.19%
Expected volatility	114.79%	94.94%
Expected life (years)	'1 year	'1 year

DERIVATIVE_WARRANT_LIABILITY_C

DERIVATIVE WARRANT LIABILITY (Changes in Fair Value of Derivative Liabilities) (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Derivative [Line Items]	'	'
Beginning balance	$81,574	($274,706)
Adjustment to warrants	0	0
Change in fair value	77,940	193,132
Ending balance	$3,634	$81,574

DERIVATIVE_WARRANT_LIABILITY_A1

DERIVATIVE WARRANT LIABILITY (Assumptions Used to Estimates Fair Value of Derivative Liabilities) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Derivative [Line Items]	'	'
Dividend yield	0.00%	0.00%
Minimum [Member]	'	'
Derivative [Line Items]	'	'
Expected volatility	84.11%	90.98%
Risk-free interest rate	0.07%	0.01%
Expected life (years)	'4 months 24 days	'1 month 6 days
Maximum [Member]	'	'
Derivative [Line Items]	'	'
Expected volatility	118.69%	121.32%
Risk-free interest rate	0.10%	0.13%
Expected life (years)	'7 months 6 days	'10 months 24 days

CONVERTIBLE_NOTES_Additional_I

CONVERTIBLE NOTES (Additional Information) (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Debt Conversion [Line Items]	'	'
Percentage Of Principal Balance Payable Upon Change Of Control	120.00%	'
Debt Instrument, Convertible, Conversion Price	$0.40	'
Deferred Finance Costs, Noncurrent, Net	$109,053	$120,236
Convertible Notes Payable [Member]	'	'
Debt Conversion [Line Items]	'	'
Proceeds from Convertible Debt	'	4,000,000
Debt Instrument, Term	'	'5 years
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	'	7.00%
Debt Instrument, Frequency of Periodic Payment	'	'semi-annually
Debt Instrument, Debt Default, Percentage Of Interest	'	9.00%
Percentage Of Principal Balance Payable Upon Change Of Control	120.00%	'
Additional Secured Indebtedness Amount	600,000	'
Debt Instrument, Convertible, Conversion Price	$0.40	'
Debt Conversion, Converted Instrument, Shares Issued	10,000,000	'
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	0	1,261,285
Debt Instrument, Interest Rate, Basis for Effective Rate	'15.4%	'
Deferred Finance Costs, Noncurrent, Net	$126,446	'

CONVERTIBLE_NOTES_Schedule_of_

CONVERTIBLE NOTES (Schedule of Carrying value of the Convertible debt) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Debt Conversion [Line Items]	'	'
Convertible notes at face value	$4,000,000	$4,000,000
Unamortized discount	-1,093,819	-1,201,494
Convertible notes, net of discount	$2,906,181	$2,798,506

CONVERTIBLE_NOTES_Schedule_of_1

CONVERTIBLE NOTES (Schedule of Components and amounts of effective interest rate) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Debt Conversion [Line Items]	'	'	'	'
Total interest expense on convertible notes	$129,698	$2,353	$259,695	$2,353
Notes Payable, Other Payables [Member]	'	'	'	'
Debt Conversion [Line Items]	'	'	'	'
Interest rate at 7%	69,533	'	139,533	'
Amortization of debt discount	54,166	'	107,676	'
Amortization of deferred financing fees	5,625	'	11,182	'
Total interest expense on convertible notes	$129,324	'	$258,391	'

DERIVATIVE_LIABILITY_CONVERTIB2

DERIVATIVE LIABILITY - CONVERTIBLE NOTES (Additional Information) (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]	'
Debt Instrument, Convertible, Conversion Price	$0.40
Percentage Of Principal Balance Payable Upon Change Of Control	120.00%
Private Placement [Member]	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Proceeds from Issuance of Long-term Debt, Total	$4,000,000

DERIVATIVE_LIABILITY_CONVERTIB3

DERIVATIVE LIABILITY - CONVERTIBLE NOTES (Schedule of Other significant estimates) (Details) (Convertible Notes Payable [Member])	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Maximum [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Expected volatility	107.84%	107.74%
Risk-free interest rate	1.73%	1.75%
Expected life (years)	'3 years	'4 years 9 months
Minimum [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Expected volatility	96.46%	93.11%
Risk-free interest rate	1.25%	1.39%
Expected life (years)	'2 years 6 months	'4 years 3 months

DERIVATIVE_LIABILITY_CONVERTIB4

DERIVATIVE LIABILITY - CONVERTIBLE NOTES (Schedule of fair value of the derivative liability) (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Derivative Liability And Convertible Debt [Line Items]	'	'
Ending balance	$629,854	$755,709
Convertible Notes Payable [Member]	'	'
Derivative Liability And Convertible Debt [Line Items]	'	'
Beginning balance	755,709	0
Issuance of convertible debt	0	1,261,285
Change in fair value	-125,855	-505,576
Ending balance	$629,854	$755,709

VRIC_PAYABLE_RELATED_PARTY_Add

VRIC PAYABLE - RELATED PARTY (Additional Information) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Recorded Unconditional Purchase Obligation [Line Items]	'	'	'	'
Interest Expense, Other	$6,225	$23,701	$25,840	$48,710
Clarkdale Slag Project [Member] | Verde River Iron Company Limited Liability Company [Member]	'	'	'	'
Recorded Unconditional Purchase Obligation [Line Items]	'	'	'	'
Monthly payments	'	'	30,000	'
Effective interest rate used for present value of monthly payment	8.00%	'	8.00%	'
Purchase of assets, Present value of monthly payment commitment	2,501,187	'	2,501,187	'
Purchase of assets, imputed interest on the monthly payment commitment	$1,128,813	'	$1,128,813	'
Expected term used for present value of monthly payment	'	'	'10 years	'

VRIC_PAYABLE_RELATED_PARTY_Fut

VRIC PAYABLE - RELATED PARTY (Future Principal Payments on VRIC Payable) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]	'	'
2015	$420,000	'
2016	360,000	'
2017	240,000	'
Thereafter	0	'
Total minimum payments	1,020,000	'
Less: amount representing interest	-110,039	'
Present value of minimum payments	909,961	'
VRIC payable, current portion	349,985	290,156
VRIC payable, net of current portion	$559,976	$713,965

STOCKHOLDERS_EQUITY_Additional

STOCKHOLDERS' EQUITY (Additional Information) (Details) (Clarkdale Slag Project [Member], 2005 Equity Transactions [Member], USD $)	1 Months Ended
	Jun. 30, 2005	Jun. 30, 2014
Clarkdale Slag Project [Member] | 2005 Equity Transactions [Member]	'	'
Stockholders Equity Note [Line Items]	'	'
Common Stock Issued From Exercise Of Warrants Shares	12,000,000	'
Warrants expiration date	1-Jun-15	'
Class of Warrant or Right, Outstanding	'	8,750,000
Development Stage Entities, Equity Issuance, Per Share Amount	$0.38	'

STOCKHOLDERS_EQUITY_Private_Pl

STOCKHOLDERS' EQUITY (Private Placement Warrant Activity) (Details) (Private Placement [Member], USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Private Placement [Member]	'	'
Number of Shares	'	'
Beginning Balance	14,200,935	'
Warrants granted	0	'
Warrants expired	0	'
Warrants exercised	0	'
Ending Balance	14,200,935	14,200,935
Weighted Average Exercise Price	'	'
Beginning Balance	$1.74	'
Warrants granted	$0	'
Warrants expired	$0	'
Warrants exercised	$0	'
Ending Balance	$1.74	$1.74
Weighted Average Remaining Contractual Life (Years)	'	'
Warrants granted	'0 years	'
Warrants expired	'0 years	'
Warrants exercised	'0 years	'
Ending Balance	'4 months 13 days	'10 months 13 days

STOCKBASED_COMPENSATION_Additi

STOCK-BASED COMPENSATION (Additional Information) (Details) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

Oct. 31, 2010

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jan. 31, 2011

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Mar. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Non Employee Director [Member]

Consultant Awards [Member]

Consultant Awards [Member]

Consultant Awards [Member]

Performance Shares [Member]

Stock Compensation Plan [Member]

Stock Option Plan 2007 [Member]

Stock Option Plan 2007 [Member]

Stock Option Plan 2007 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Stock Option Plan 2009 [Member]

Minimum [Member]

Consultant Awards [Member]

Non Employee Director [Member]

Non Employee Director [Member]

Directors Plan [Member]

Directors Plan [Member]

Consultant Awards [Member]

Consultant Awards [Member]

For grantees who own more than 10% of the Company's common stock on the grant date [Member]

Nonqualified Stock Options [Member]

Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common shares available for issuance for stock option awards

'

10,444,576

'

10,444,576

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock option plan, maximum options to purchase shares of common stock that may be granted

'

'

'

'

'

'

'

'

'

'

'

'

4,000,000

'

'

7,250,000

'

'

2,750,000

'

'

'

'

Stock option plan, exercise price as a percentage of fair market value

'

'

'

'

'

'

'

'

'

'

'

'

'

85.00%

'

'

'

'

'

100.00%

'

'

110.00%

Stock option granted, shares

300,000

'

'

'

'

'

'

'

'

'

'

'

952,047

'

18,000

1,222,500

54,000

54,000

1,380,877

'

54,000

54,000

'

Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee

'

'

'

'

'

'

18,000

'

'

'

'

'

'

'

'

500,000

'

'

250,000

'

'

'

'

Value of common stock per quarter directors can choice to receive

'

'

'

'

'

'

$9,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options/warrants granted

'

'

'

$0

'

'

'

'

'

'

'

'

$1.03

'

$0.48

'

$0.26

$0.24

$0.89

'

$0.48

$0.29

'

Stock option, expiration date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31-Mar-18

'

31-Mar-19

30-Jun-19

'

'

31-Mar-18

30-Jun-18

'

Expenses related to vesting and granting of stock-based compensation awards

'

18,622

73,605

51,647

195,281

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrants granted

'

'

'

'

'

'

'

200,000

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock option granted, weighted average exercise price

'

'

'

$0.25

'

'

'

'

'

'

'

'

'

'

'

$1.16

'

'

'

'

'

'

'

Stock option outstanding

'

3,894,385

'

3,894,385

'

3,800,331

'

'

'

'

'

'

823,508

'

'

1,190,000

'

'

'

'

'

'

'

Unrecognized compensation cost related to unvested stock-based compensation awards

'

28,993

'

28,993

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost

'

'

'

'

'

'

'

'

5,011

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value

'

$0

$208,441

$74,731

$278,585

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Beginning Balance

'

400,000

'

400,000

'

450,000

'

'

'

'

250,000

'

'

'

'

'

'

'

'

'

'

'

'

Warrants expiration date

'

'

'

'

'

'

'

'

13-Jan-16

13-Jan-14

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

'

'

'

'

'

'

'

'

'

'

'6 months

'8 months 8 days

'

'

'

'

'

'

'

'

'

'

'

STOCKBASED_COMPENSATION_Assump

STOCK-BASED COMPENSATION (Assumptions Used to Estimate Fair Value of Stock-Based Compensation Awards) (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Dividend yield	0.00%	0.00%
Expected life (years)	'	'4 years 3 months
Minimum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Risk-free interest rate	0.39%	0.77%
Expected volatility	98.65%	90.39%
Expected life (years)	'2 years	'
Maximum [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Risk-free interest rate	1.73%	1.41%
Expected volatility	105.87%	95.66%
Expected life (years)	'4 years 3 months	'

STOCKBASED_COMPENSATION_StockB

STOCK-BASED COMPENSATION (Stock-Based Compensation Activity) (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Number of Shares	'	'
Outstanding, December 31, 2013	3,800,331	'
Options/warrants granted	108,000	'
Options/warrants expired	-13,946	'
Options/warrants forfeited	0	'
Options/warrants exercised	0	'
Outstanding, June 30, 2014	3,894,385	3,800,331
Exercisable, June 30, 2014	3,494,385	'
Weighted Average Grant Date Fair Value	'	'
Outstanding, December 31, 2013	$0.56	'
Options/warrants granted	$0.09	'
Options/warrants expired	$1.13	'
Options/warrants forfeited	$0	'
Options/warrants exercised	$0	'
Outstanding, June 30, 2014	$0.55	$0.56
Exercisable, June 30, 2014	$0.51	'
Weighted Average Exercise Price	'	'
Outstanding, December 31, 2013	$1.01	'
Options/warrants granted	$0.25	'
Options/warrants expired	$2.58	'
Options/warrants forfeited	$0	'
Options/warrants exercised	$0	'
Outstanding, June 30, 2014	$0.98	$1.01
Exercisable, June 30, 2014	$0.97	'
Weighted Average Remaining Contractual Life	'	'
Outstanding	'3 years 9 months 4 days	'3 years 5 months 1 day
Options/warrants granted	'4 years 10 months 17 days	'
Exercisable, June 30, 2014	'3 years 14 days	'
Aggregate Intrinsic Value	'	'
Outstanding, June 30, 2014	$0	'
Exercisable, June 30, 2014	$0	'

STOCKBASED_COMPENSATION_Change

STOCK-BASED COMPENSATION (Changes of Stock-Based Compensation Awards Subject to Vesting) (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Number of Shares subject to Vesting	'
Unvested, December 31, 2013	450,000
Options/warrants granted	0
Options/warrants vested	-50,000
Options/warrants cancelled	0
Unvested, June 30, 2014	400,000
Weighted Average Grant Date Fair Value	'
Unvested, December 31, 2013	$0.95
Options/warrants granted	$0
Options/warrants vested	$1.49
Options/warrants cancelled	$0
Unvested, June 30, 2014	$0.88

STOCKHOLDER_RIGHTS_AGREEMENT_A

STOCKHOLDER RIGHTS AGREEMENT (Additional Information) (Details)	Jun. 30, 2014	Sep. 18, 2013	Jun. 07, 2012	Sep. 18, 2013	Sep. 18, 2013
		Luxor Capital Partners LP [Member]	Luxor Capital Partners LP [Member]	Luxor Capital Partners LP [Member]	Luxor Capital Partners LP [Member]
				Maximum [Member]	Minimum [Member]
Stockholder Rights Agreement [Line Items]	'	'	'	'	'
Minimum Percentage Of Ownership Acquired Or To Be Acquired Upon Which Purchase Rights Become Exercisable	15.00%	'	'	'	'
Percentage Of Ownership Interests	'	17.50%	17.50%	22.00%	21.00%

PROPERTY_RENTAL_AGREEMENTS_AND1

PROPERTY RENTAL AGREEMENTS AND LEASES (Additional Information) (Details) (USD $)	6 Months Ended		6 Months Ended
	Jun. 30, 2014	Aug. 25, 2004	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
		Clarkdale Slag Project [Member]	Land Lease Wastewater Effluent [Member]	Class B Effluent [Member]	Class B Effluent [Member]	Class A Effluent [Member]
		acre			Maximum [Member]
					bbl
Leases Disclosure [Line Items]	'	'	'	'	'	'
Operating Leases, Income Statement, Minimum Lease Revenue	$1,700	'	'	'	'	'
Purchase price of effluent as a percentage of potable water rate	'	'	'	50.00%	'	75.00%
Purchase right of effluent per day	'	'	'	'	46,000	'
Lease expiration date	25-Aug-14	'	'	'	'	'
Purchase right of effluent, period	'	'	'25 years	'	'	'
Area of Land	'	60	'	'	'	'

INCOME_TAXES_Additional_Inform

INCOME TAXES (Additional Information) (Details) (USD $)	6 Months Ended
	Jun. 30, 2014
Operating Loss Carryforwards [Line Items]	'
Cumulative net operating losses for income tax purposes	24,605,162
Internal Revenue Service (IRS) [Member]	'
Operating Loss Carryforwards [Line Items]	'
Cumulative net operating losses for income tax purposes	48,305,502
Internal Revenue Service (IRS) [Member] | Minimum [Member]	'
Operating Loss Carryforwards [Line Items]	'
Operating Loss Carryforwards Expiration Year	'2025
Internal Revenue Service (IRS) [Member] | Maximum [Member]	'
Operating Loss Carryforwards [Line Items]	'
Operating Loss Carryforwards Expiration Year	'2034
State and Local Jurisdiction [Member] | Arizona [Member] | Maximum [Member]	'
Operating Loss Carryforwards [Line Items]	'
Operating Loss Carryforwards Expiration Year	'2034

INCOME_TAXES_Significant_Compo

INCOME TAXES (Significant Components of Net Deferred Income Tax Assets and Liabilities) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Deferred income tax assets:	'	'
Net operating loss carryforward	$17,885,849	$16,822,317
Option compensation	717,582	763,779
Asset held for sale	17,144	0
Property, plant & equipment	1,142,379	1,021,685
Gross deferred income tax assets	19,762,954	18,607,781
Less: valuation allowance	-582,163	-733,287
Net deferred income tax assets	19,180,791	17,874,494
Deferred income tax liabilities:	'	'
Acquisition related liabilities	-55,197,465	-55,197,465
Net deferred income tax liability	($36,016,674)	($37,322,971)

INCOME_TAXES_Reconciliation_of

INCOME TAXES (Reconciliation of Tax Benefit at United States Federal and State Income Tax Rates to Actual Tax Provision) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Operating Loss Carryforwards [Line Items]	'	'	'	'
Deferred tax benefit at statutory rates	$611,209	$581,561	$1,183,349	$1,118,061
State deferred tax benefit, net of federal benefit	52,389	49,848	101,430	95,834
Increase (decrease) in deferred tax benefit from:	'	'	'	'
Change in valuation allowance	50,938	-67,046	151,124	-94,725
Change in state NOL's	-47,874	-34,841	-95,748	-69,681
Gain (loss) on the change in fair value of derivative warrant liability	2,013	23,120	77,442	104,388
Other permanent differences	-85,765	-4,663	-111,300	-9,271
Deferred income tax benefit	$582,910	$547,979	$1,306,297	$1,144,606

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Additional Information) (Details) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

Sep. 30, 2013

Jun. 30, 2012

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Sep. 30, 2013

Dec. 31, 2009

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Jun. 30, 2012

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jul. 25, 2011

Dec. 31, 2010

Feb. 28, 2007

Feb. 15, 2007

Dec. 31, 2010

Feb. 28, 2007

Feb. 15, 2007

Feb. 15, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 15, 2007

Feb. 15, 2007

Feb. 28, 2007

Feb. 15, 2007

Additional Notes Payables [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Scenario, Previously Reported [Member]

Scenario, Previously Reported [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Verde River Iron Company Limited Liability Company [Member]

Convertible Notes Payable [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Clarkdale Slag Project [Member]

Scenario, Previously Reported [Member]

Advance Royalty Commitments [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Minimum [Member]

Project Royalty [Member]

Royalty Payments [Member]

Cash Flow [Member]

Nanominerals Corporation [Member]

Clarkdale Slag Project [Member]

Commitments and Contingencies Disclosure [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Rental expense

'

'

$8,457

$8,940

$16,914

$17,880

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional contingent payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,400,000

'

'

500,000

3,500,000

'

'

Advance royalty payment amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,000

660,000

'

'

'

'

'

500,000

500,000

'

'

'

'

'

The Minimum project royalty payments that should be made for the advance royalty not to remains payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

500,000

'

'

'

'

'

'

Royalty payment percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.50%

'

'

5.00%

'

'

'

2.50%

'

'

2.50%

'

Joint venture ownership interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

50.00%

'

'

'

'

'

'

50.00%

Cash penalties as a percentage of purchase price paid by investors

'

1.00%

'

'

'

'

1.00%

'

'

3.00%

'

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate Consulting Fees Previously Incurred

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,320,000

'

'

'

'

'

'

'

'

'

Payment, Period

'

'

'

'

'

'

'

'

18,000

'

120,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Potential Liability for Severance Agreements

'

'

112,500

'

112,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Royalty Expense

'

'

'

'

'

'

'

'

'

'

'

'

45,000

45,000

90,000

90,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Construction Loan

'

'

'

'

'

'

'

3,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Construction Loan, Current

'

'

'

'

'

'

'

$1,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating Lease Period

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (leases corporate office space under a sublease agreement from a related party) (Details) (USD $)	Jun. 30, 2014
Commitments and Contingencies Disclosure [Line Items]	'
2015	$22,308
2016	3,334
Thereafter	0
Operating Leases, Future Minimum Payments Due, Total	$25,642

CONCENTRATION_OF_CREDIT_RISK_A

CONCENTRATION OF CREDIT RISK (Additional Information) (Details) (Maximum [Member], USD $)	Jun. 30, 2014
Maximum [Member]	'
Concentration Risk [Line Items]	'
Insurance Available For Cash At Each Bank	$250,000

RELATED_PARTY_TRANSACTIONS_Add

RELATED PARTY TRANSACTIONS (Additional Information) (Details) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

Sep. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Feb. 28, 2007

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jan. 31, 2011

Jan. 31, 2011

Jan. 31, 2011

Subsequent Event [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Cupit Milligan Ogden Williams Certified Public Accountants [Member]

Cupit Milligan Ogden Williams Certified Public Accountants [Member]

Cupit Milligan Ogden Williams Certified Public Accountants [Member]

Cupit Milligan Ogden Williams Certified Public Accountants [Member]

Cupit Milligan Ogden Williams Certified Public Accountants [Member]

Vice President [Member]

Vice President [Member]

Vice President [Member]

Clarkdale Slag Project [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Nanominerals Corporation [Member]

Minimum [Member]

Maximum [Member]

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fee and expenses incurred to related party

'

'

'

'

'

'

'

$28,792

$23,789

$71,803

$82,345

'

$15,000

$15,000

$30,000

Royalty payment percentage

'

'

'

'

'

'

2.50%

'

'

'

'

'

'

'

'

Due to Related Parties

'

5,638

5,638

'

103,945

37,896

'

49,120

'

49,120

'

8,639

'

'

'

Operating Lease Period

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Operating Leases, Rent Expense

$2,819

$8,457

$16,914

$1,667

'

'

'

'

'

'

'

'

'

'

'

Operating Lease Frequency Of Periodic Payment

'monthly

'

'

'

'

'

'

'

'

'

'

'

'

'

'

RELATED_PARTY_TRANSACTIONS_Com

RELATED PARTY TRANSACTIONS (Company and NMC) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related Party Transactions [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Mineral and exploration expense - related party	$76,184	$50,078	$155,560	$109,442
Nanominerals Corporation [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Advance royalty payments	45,000	45,000	90,000	90,000
Nanominerals Corporation [Member] | Reimbursements [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fee and expenses incurred to related party	784	578	2,600	2,092
Nanominerals Corporation [Member] | Consulting Fees [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fee and expenses incurred to related party	$30,400	$4,500	$62,960	$17,350

RELATED_PARTY_TRANSACTIONS_Com1

RELATED PARTY TRANSACTIONS (Company and CMOW) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Chief Financial Officer [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fee and expenses incurred to related party	$11,229	$9,278	$28,003	$32,115
Cupit Milligan Ogden Williams Certified Public Accountants [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Fee and expenses incurred to related party	$28,792	$23,789	$71,803	$82,345

SUBSEQUENT_EVENT_Additional_in

SUBSEQUENT EVENT (Additional information) (Details) (Subsequent Event [Member], USD $)	6 Months Ended
	Jun. 30, 2014
Subsequent Event [Member]	'
Subsequent Event [Line Items]	'
Proceeds from Sale of Property, Plant, and Equipment	$250,000