International Tower Hill Mines (THM) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	INTERNATIONAL TOWER HILL MINES LTD.
Entity Central Index Key	0001134115
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	THM
Security Exchange Name	NYSEAMER
Entity Common Stock, Shares Outstanding		187,573,671
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current
Cash and cash equivalents	$ 5,490,127	$ 6,937,621
Prepaid expenses and other	201,601	238,554
Total current assets	5,691,728	7,176,175
Property and equipment	14,550	15,434
Capitalized acquisition costs	55,375,124	55,375,124
Total assets	61,081,402	62,566,733
Current liabilities
Accounts payable	8,511	18,433
Accrued liabilities	237,724	317,324
Total liabilities	246,235	335,757
Shareholders' equity
Share capital, no par value; authorized 500,000,000 shares; 187,573,671 shares issued and outstanding at December 31, 2019 and June 30, 2020	278,213,801	278,213,801
Contributed surplus	35,417,526	35,069,274
Accumulated other comprehensive income	1,251,329	1,574,011
Deficit	(254,047,489)	(252,626,110)
Total shareholders' equity	60,835,167	62,230,976
Total liabilities and shareholders' equity	$ 61,081,402	$ 62,566,733

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	187,573,671	187,573,671
Common Stock, Shares, Outstanding	187,573,671	187,573,671

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating expenses
Consulting fees	$ 340,576	$ 43,637	$ 380,995	$ 87,508
Depreciation	442	579	885	1,158
Insurance	35,662	30,791	66,886	60,629
Investor relations	31,558	20,284	42,048	34,200
Mineral property exploration	536,603	911,947	652,023	1,162,538
Office	6,107	6,221	13,727	11,033
Other	5,190	4,532	9,082	7,581
Professional fees	37,040	44,656	89,160	92,117
Regulatory	19,083	21,620	80,256	84,433
Rent	33,939	33,931	67,872	67,864
Travel	3,599	5,138	5,761	8,095
Wages and benefits	230,203	176,777	384,733	332,528
Total operating expenses	(1,280,002)	(1,300,113)	(1,793,428)	(1,949,684)
Other income (expenses)
(Loss)/gain on foreign exchange	(225,095)	(159,708)	316,091	(363,246)
Interest income	13,341	49,036	50,666	81,233
Other income	5,292	23,731	5,292	23,731
Total other income (expenses)	(206,462)	(86,941)	372,049	(258,282)
Net loss for the period	(1,486,464)	(1,387,054)	(1,421,379)	(2,207,966)
Other comprehensive income (loss)
Exchange difference on translating foreign operations	230,652	160,694	(322,682)	366,719
Total other comprehensive income (loss) for the period	230,652	160,694	(322,682)	366,719
Comprehensive loss for the period	$ (1,255,812)	$ (1,226,360)	$ (1,744,061)	$ (1,841,247)
Basic and diluted loss per share	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding - basic and diluted	187,573,671	187,238,729	187,573,671	187,142,553

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Contributed surplus [Member]	Accumulated other comprehensive income [Member]	Deficit [Member]	Total
Balance at Dec. 31, 2018	$ 277,852,672	$ 34,960,292	$ 1,162,900	$ (248,799,703)	$ 65,176,161
Balance (in shares) at Dec. 31, 2018	186,990,683
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation-options	$ 0	1,686	0	0	1,686
Exchange difference on translating foreign operations	0	0	366,719	0	366,719
Exercise of options	$ 64,254	0	0	0	64,254
Exercise of options (in shares)	121,174
Share issuance	$ 245,592	(245,592)	0	0	0
Share issuance (in shares)	461,814
Reallocation from contributed surplus	$ 51,283	(51,283)	0	0	0
Reallocation from contributed (in shares)	0
Net loss	$ 0	0	0	(2,207,966)	(2,207,966)
Balance at Jun. 30, 2019	$ 278,213,801	34,665,103	1,529,619	(251,007,669)	63,400,854
Balance (in shares) at Jun. 30, 2019	187,573,671
Balance at Dec. 31, 2018	$ 277,852,672	34,960,292	1,162,900	(248,799,703)	65,176,161
Balance (in shares) at Dec. 31, 2018	186,990,683
Balance at Dec. 31, 2019	$ 278,213,801	35,069,274	1,574,011	(252,626,110)	$ 62,230,976
Balance (in shares) at Dec. 31, 2019	187,573,671				187,573,671
Balance at Mar. 31, 2019	$ 277,968,209	34,910,695	1,368,925	(249,620,615)	$ 64,627,214
Balance (in shares) at Mar. 31, 2019	187,111,857
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange difference on translating foreign operations	$ 0	0	160,694	0	160,694
Share issuance	$ 245,592	(245,592)	0	0	0
Share issuance (in shares)	461,814
Net loss	$ 0	0	0	(1,387,054)	(1,387,054)
Balance at Jun. 30, 2019	$ 278,213,801	34,665,103	1,529,619	(251,007,669)	63,400,854
Balance (in shares) at Jun. 30, 2019	187,573,671
Balance at Dec. 31, 2019	$ 278,213,801	35,069,274	1,574,011	(252,626,110)	$ 62,230,976
Balance (in shares) at Dec. 31, 2019	187,573,671				187,573,671
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation-options	$ 0	53,635	0	0	$ 53,635
Stock-based compensation-DSUs	0	294,617	0	0	294,617
Exchange difference on translating foreign operations	0	0	(322,682)	0	(322,682)
Net loss	0	0	0	(1,421,379)	(1,421,379)
Balance at Jun. 30, 2020	$ 278,213,801	35,417,526	1,251,329	(254,047,489)	$ 60,835,167
Balance (in shares) at Jun. 30, 2020	187,573,671				187,573,671
Balance at Mar. 31, 2020	$ 278,213,801	35,069,274	1,020,677	(252,561,025)	$ 61,742,727
Balance (in shares) at Mar. 31, 2020	187,573,671
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation-options	$ 0	53,635	0	0	53,635
Stock-based compensation-DSUs	0	294,617	0	0	294,617
Exchange difference on translating foreign operations	0	0	230,652	0	230,652
Net loss	0	0	0	(1,486,464)	(1,486,464)
Balance at Jun. 30, 2020	$ 278,213,801	$ 35,417,526	$ 1,251,329	$ (254,047,489)	$ 60,835,167
Balance (in shares) at Jun. 30, 2020	187,573,671				187,573,671

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Activities
Loss for the period	$ (1,421,379)	$ (2,207,966)
Add items not affecting cash:
Depreciation	885	1,158
Stock-based compensation-option	53,635	1,686
Stock-based compensation-DSU	294,617	0
Changes in non-cash items:
Accounts receivable	103,194	48,874
Prepaid expenses and other	(75,260)	(58,476)
Accounts payable and accrued liabilities	(87,358)	(106,678)
Cash used in operating activities	(1,131,666)	(2,321,402)
Financing Activities
Issuance of common shares	0	64,254
Cash provided by financing activities	0	64,254
Investing Activities
Capitalized acquisition costs	0	(31,819)
Cash used in investing financing activities	0	(31,819)
Effect of foreign exchange on cash	(315,828)	362,182
Decrease in cash and cash equivalents	(1,447,494)	(1,926,785)
Cash and cash equivalents, beginning of the period	6,937,621	10,228,964
Cash and cash equivalents, end of the period	$ 5,490,127	$ 8,302,179

GENERAL INFORMATION AND NATURE

GENERAL INFORMATION AND NATURE OF OPERATIONS	6 Months Ended
	Jun. 30, 2020
GENERAL INFORMATION AND NATURE OF OPERATIONS
GENERAL INFORMATION AND NATURE OF OPERATIONS	1. GENERAL INFORMATION AND NATURE OF OPERATIONS International Tower Hill Mines Ltd. (“ITH” or the “Company”) is incorporated under the laws of British Columbia, Canada. The Company’s head office address is 2300-1177 West Hastings Street, Vancouver, British Columbia, Canada. International Tower Hill Mines Ltd. consists of ITH and its wholly-owned subsidiaries Tower Hill Mines, Inc. (“TH Alaska”) (an Alaska corporation), Tower Hill Mines (US) LLC (“TH US”) (a Colorado limited liability company), and Livengood Placers, Inc. (“LPI”) (a Nevada corporation). The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. At June 30, 2020, the Company has a 100% interest in its Livengood Gold Project, an exploration-stage project in Alaska, U.S.A. These unaudited condensed consolidated interim financial statements have been prepared on a going-concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. As at June 30, 2020, the Company had cash and cash equivalents of $5,490,127 compared to $6,937,621 at December 31, 2019. The Company has no revenue generating operations from which it can internally generate funds. The Company will require significant additional financing to continue its operations (including general and administrative expenses) in connection with advancing activities at the Livengood Gold Project and the development of any mine that may be determined to be built at the Livengood Gold Project. There is no assurance that the Company will make a decision to build a mine at the Livengood Gold Project and, if so, that it will be able to obtain the additional financing required on acceptable terms, if at all. In addition, any significant delays in the issuance of required permits for the ongoing work at the Livengood Gold Project, or unexpected results in connection with the ongoing work, could result in the Company being required to raise additional funds to advance permitting efforts. The Company’s review of its financing options includes pursuing a future strategic alliance to assist in further development, permitting and future construction costs, although there can be no assurance that any such strategic alliance will, in fact, be realized. Despite the Company’s success to date in raising significant equity financing to fund its operations, there is significant uncertainty that the Company will be able to secure any additional financing in the current or future equity markets. The amount of funds to be raised and the terms of any proposed equity financing that may be undertaken will be negotiated by management as opportunities to raise funds arise. Specific plans related to the use of proceeds will be devised once financing has been completed and management knows what funds will be available for these purposes.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2020
BASIS OF PRESENTATION
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION These unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X under the Securities Exchange Act of 1934, as amended. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2019 as filed in our Annual Report on Form 10-K. In the opinion of the Company’s management, these financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position at June 30, 2020 and the results of its operations for the six months then ended. Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, 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 revenues and expenses during the period. These judgments, estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While management believes the estimates to be reasonable, actual results could differ from those estimates and could impact future results of operations and cash flows. On August 7, 2020, the Board of Directors of the Company (the “Board”) approved these condensed consolidated interim financial statements. Basis of consolidation These condensed consolidated interim financial statements include the accounts of ITH and its wholly-owned subsidiaries TH Alaska, TH US, and LPI. All intercompany transactions and balances have been eliminated.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	3. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts receivable and accounts payable and accrued liabilities approximate their fair values due to the short-term maturity of these financial instruments. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the significance of the inputs used in making the measurement. The three levels of the fair value hierarchy are as follows: · Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; · Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and · Level 3 – Inputs that are not based on observable market data.

CAPITALIZED ACQUISITION COSTS

CAPITALIZED ACQUISITION COSTS	6 Months Ended
	Jun. 30, 2020
CAPITALIZED ACQUISITION COSTS
CAPITALIZED ACQUISITION COSTS	4. CAPITALIZED ACQUISITION COSTS The Company had the following activity related to capitalized acquisition costs: Capitalized acquisition costs Amount Balance, December 31, 2019 $ 55,375,124 Acquisition costs — Balance, June 30, 2020 $ 55,375,124 The following table presents costs incurred for exploration and evaluation activities for the six months ended June 30, 2020 and 2019: June 30, 2020 June 30, 2019 Exploration costs: Aircraft services $ — $ 4,351 Environmental 80,189 82,216 Equipment rental 23,363 36,119 Field costs 49,942 50,604 Geological/geophysical 54,906 505,061 Land maintenance and tenure 425,212 438,827 Legal 12,947 39,936 Transportation and travel 5,464 5,424 Total expenditures for the period $ 652,023 $ 1,162,538 Livengood Gold Project Property The Livengood property is located in the Tintina gold belt approximately 70 miles (113 kilometers) northwest of Fairbanks, Alaska. The property consists of land leased from the Alaska Mental Health Trust, a number of smaller private mineral leases, Alaska state mining claims purchased or located by the Company and patented ground held by the Company. Details of the leases are as follows: a) A lease of the Alaska Mental Health Trust mineral rights having a term beginning July 1, 2004 and extending 19 years until June 30, 2023, subject to further extensions beyond June 30, 2023 by either commercial production or payment of an advance minimum royalty equal to 125% of the amount paid in year 19 and diligent pursuit of development. The lease requires minimum work expenditures and advance minimum royalties (all of which minimum royalties are recoverable from production royalties) which escalate annually with inflation. A net smelter return (“NSR”) production royalty of between 2.5% and 5.0% (depending upon the price of gold) is payable to the lessor with respect to the lands subject to this lease. In addition, an NSR production royalty of 1% is payable to the lessor with respect to the unpatented federal mining claims subject to the lease described in b) below and an NSR production royalty of between 0.5% and 1.0% (depending upon the price of gold) is payable to the lessor with respect to the lands acquired by the Company as a result of the purchase of Livengood Placers, Inc. in December 2011. During the six months ended June 30, 2020 and from the inception of this lease, the Company has paid $344,553 and $3,651,168, respectively. b) A lease of federal unpatented lode mining claims having an initial term of ten years commencing on April 21, 2003 and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $50,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of between 2% and 3% (depending on the price of gold) is payable to the lessors. The Company may purchase 1% of the royalty for $1,000,000. During the six months ended June 30, 2020 and from the inception of this lease, the Company has paid $50,000 and $830,000, respectively. c) A lease of patented lode mining claims having an initial term of ten years commencing January 18, 2007, and continuing for so long thereafter as advance minimum royalties are paid. The lease requires an advance minimum royalty of $20,000 on or before each anniversary date through January 18, 2017 and $25,000 on or before each subsequent anniversary (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of 3% is payable to the lessors. The Company may purchase all interests of the lessors in the leased property (including the production royalty) for $1,000,000 (less all minimum and production royalties paid to the date of purchase), of which $500,000 is payable in cash over four years following the closing of the purchase and the balance is payable by way of the 3% NSR production royalty. The Company paid $15,000 of royalties during the six months ended June 30, 2020, for a total of $250,000 from the inception of this lease. The Company has acquired a 40% interest in the mining claims subject to the lease, providing the Company with a 40% interest in the lease. d) A lease of unpatented federal lode mining and federal unpatented placer claims having an initial term of ten years commencing on March 28, 2007, and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $15,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). The Company is required to pay the lessor the additional sum of $250,000 upon making a positive production decision, of which $125,000 is payable within 120 days of the decision and $125,000 is payable within a year of the decision (all of which are recoverable from production royalties). An NSR production royalty of 2% is payable to the lessor. The Company may purchase all of the interest of the lessor in the leased property (including the production royalty) for $1,000,000. The Company paid $15,000 of royalties during the six months ended June 30, 2020, for a total of $173,000 from the inception of this lease. Title to mineral properties The acquisition of title to mineral properties is a detailed and time-consuming process. The Company has taken steps to verify title to mineral properties in which it has an interest. Although the Company has taken every reasonable precaution to ensure that legal title to its properties is properly recorded in the name of the Company, there can be no assurance that such title will ultimately be secured.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2020
ACCRUED LIABILITIES
ACCRUED LIABILITIES	5. ACCRUED LIABILITIES The following table presents the accrued liabilities balances at June 30, 2020 and December 31, 2019. June 30, 2020 December 31, 2019 Accrued liabilities $ 204,003 $ 278,644 Accrued salaries and benefits 33,721 38,680 Total accrued liabilities $ 237,724 $ 317,324 Accrued liabilities at June 30, 2020 include accruals for general corporate costs and project costs of $37,684 and $166,319, respectively. Accrued liabilities at December 31, 2019 include accruals for general corporate costs and project costs of $57,114 and $221,530, respectively.

SHARE CAPITAL

SHARE CAPITAL	6 Months Ended
	Jun. 30, 2020
SHARE CAPITAL
SHARE CAPITAL	6. SHARE CAPITAL Authorized The Company's authorized share capital consists of 500,000,000 common shares without par value. At December 31, 2019 and June 30, 2020, there were 187,573,671 shares issued and outstanding. Share issuances There were no share issuances during the six months ended June 30, 2020. Stock options The Company adopted an incentive stock option plan in 2006, as amended September 19, 2012 and reapproved by the Company’s shareholders on May 28, 2015 and May 30, 2018 (the “Stock Option Plan”). The essential elements of the Stock Option Plan provide that the aggregate number of common shares of the Company that may be issued pursuant to options granted under the Stock Option Plan and any other share-based compensation arrangements may not exceed 10% of the number of issued shares of the Company at the time of the granting of the options. Options granted under the Stock Option Plan will have a maximum term of ten years. The exercise price of options granted under the Stock Option Plan shall be fixed in compliance with the applicable provisions of the Toronto Stock Exchange (“TSX”) Company Manual in force at the time of grant and, in any event, shall not be less than the closing price of the Company’s common shares on the TSX on the trading day immediately preceding the day on which the option is granted, or such other price as may be agreed to by the Company and accepted by the TSX. Options granted under the Stock Option Plan vest immediately, unless otherwise determined by the directors at the date of grant. A summary of the options granted under the Stock Option Plan as of June 30, 2020 and December 31, 2019 is presented below: Six Months Ended Year Ended June 30, 2020 December 31, 2019 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Price Intrinsic Value Number of Exercise Price Intrinsic Value Options (C$) (C$) Options (C$) (C$) Balance, beginning of the period 2,452,049 $ 0.94 3,655,991 $ 0.98 Granted 255,000 0.92 187,232 0.85 Exercised — — (121,174) 0.70 Cancelled — — (1,270,000) 1.06 Balance, end of the period 2,707,049 $ 0.94 $ 4,046,844 2,452,049 $ 0.94 $ 59,734 The weighted average remaining life of options outstanding at June 30, 2020 was 3.1 years. Stock options outstanding are as follows: June 30, 2020 December 31, 2019 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable February 25, 2022 $ 1.11 510,000 510,000 $ 1.11 510,000 510,000 February 25, 2022 $ 0.73 270,000 270,000 $ 0.73 270,000 270,000 March 10, 2022 $ 1.11 120,000 120,000 $ 1.11 120,000 120,000 March 16, 2023 $ 1.00 580,000 580,000 $ 1.00 580,000 580,000 March 16, 2023 $ 0.50 130,000 130,000 $ 0.50 130,000 130,000 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 30,000 March 21, 2024 $ 0.61 374,817 374,817 $ 0.61 374,817 374,817 February 1, 2025 $ 1.35 250,000 250,000 $ 1.35 250,000 250,000 August 8, 2025 $ 0.85 187,232 187,232 $ 0.85 187,232 187,232 May 27, 2026 $ 0.92 255,000 85,000 — — — 2,707,049 2,537,049 2,452,049 2,452,049 A summary of the non-vested options as of June 30, 2020 and changes during the six months ended June 30, 2020 is as follows: Weighted average grant- Number of date fair value Non-vested options: options (C$) Outstanding at December 31, 2019 — $ — Granted 255,000 $ 0.76 Vested (85,000) $ 0.76 Outstanding at June 30, 2020 170,000 $ 0.76 At June 30, 2020, there was unrecognized compensation expense of C$120,533 related to non-vested options outstanding. The cost is expected to be recognized over a weighted-average remaining period of approximately 1.42 years. Deferred Share Unit Incentive Plan On April 4, 2017, the Company adopted a Deferred Share Unit Plan (the “DSU Plan”). The DSU Plan was approved by the Company's shareholders on May 24, 2017 and reapproved by the Company's shareholders on May 27, 2020. The maximum aggregate number of common shares that may be issued under the DSU Plan and the Stock Option Plan is 10% of the number of issued and outstanding common shares (on a non-diluted basis). During the six months ended June 30, 2020, the Company granted each of the members of the Board (other than those directors nominated for election by Paulson & Co., Inc.) 90,217 deferred share units (“DSUs”) with a grant date fair value (defined as the weighted average of the prices at which the common shares traded on the exchange with the most volume for the five days immediately preceding the grant) of C$0.92 per DSU, representing C$83,000 per director or C$415,000 in the aggregate. The DSUs entitle the holders to receive common shares of the Company without the payment of any consideration. The DSUs vested immediately upon being granted but the common shares underlying the DSUs are not deliverable to the holder until the holder is no longer serving on the Board. DSUs outstanding are as follows: Six Months Ended Year Ended June 30, 2020 December 31, 2019 Weighted Average Weighted Number of Exercise Price Number of Average Exercise Units (C$) Units Price (C$) Balance, beginning of the period 1,383,396 $ 0.77 1,356,975 $ 0.72 Issued 451,085 $ 0.92 488,235 $ 0.85 Delivered — — (461,814) $ 0.71 Balance, end of the period 1,834,481 $ 0.81 1,383,396 $ 0.77 Share-based payments During the six-month period ended June 30, 2020, there were 255,000 stock options granted under the Stock Option Plan and 451,085 DSUs granted under the DSU Plan. Share-based payment compensation for the six months ended June 30, 2020 totaled $348,252 ($53,635 related to stock options and $294,617 related to DSUs). Of the total expense for the period ended June 30, 2020, $300,927 was included in consulting fees ($6,310 related to stock options and $294,617 related to DSUs), $3,155 was included in investor relations, and $44,170 was included in wages and benefits in the statement of operations and comprehensive loss. During the six-month period ended June 30, 2019, there were no stock options granted under the Stock Option Plan and no DSUs granted under the DSU Plan. Share-based payment compensation for the six months ended June 30, 2019 totaled $1,686, which was included in wages and benefits in the statement of operations and comprehensive loss. YTD June 30, 2020 Expected life of options 6 years Risk-free interest rate 0.40 % Annualized volatility 80.92 % Dividend rate % Exercise price (C$) $ 0.92

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	6 Months Ended
	Jun. 30, 2020
SEGMENT AND GEOGRAPHIC INFORMATION
SEGMENT AND GEOGRAPHIC INFORMATION	7. SEGMENT AND GEOGRAPHIC INFORMATION The Company operates in a single reportable segment, being the exploration and development of mineral properties. The following tables present selected financial information by geographic location: Canada United States Total June 30, 2020 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,907 6,643 14,550 Current assets 5,116,493 575,235 5,691,728 Total assets $ 5,124,400 $ 55,957,002 $ 61,081,402 December 31, 2019 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,979 7,455 15,434 Current assets 6,652,289 523,886 7,176,175 Total assets $ 6,660,268 $ 55,906,465 $ 62,566,733 Three months ended June 30, 2020 June 30, 2019 Net loss for the period – Canada $ (701,159) $ (255,125) Net loss for the period – United States (785,305) (1,131,929) Net loss for the period $ (1,486,464) $ (1,387,054) Six months ended June 30, 2020 June 30, 2019 Net loss for the period – Canada $ (287,621) $ (601,504) Net loss for the period – United States (1,133,758) (1,606,462) Net loss for the period $ (1,421,379) $ (2,207,966)

COMMITMENTS

COMMITMENTS	6 Months Ended
	Jun. 30, 2020
COMMITMENTS
COMMITMENTS	8. COMMITMENTS The following table discloses the Company’s contractual obligations as of June 30, 2020, including anticipated mineral property payments. Under the terms of the Company’s mineral property purchase agreements, mineral leases and unpatented mineral claims, the Company is required to make certain scheduled acquisition payments, incur certain levels of expenditures, make lease or advance royalty payments, make payments to government authorities and incur assessment work expenditures (as summarized in the table below) in order to maintain and preserve the Company’s interests in the related mineral properties. If the Company is unable or unwilling to make any such payments or incur any such expenditure, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. The following table assumes that the Company retains the rights to all of its current mineral properties, but does not exercise any lease purchase or royalty buyout options: Payments Due by Year 2025 and 2020 2021 2022 2023 2024 beyond Total Mineral Property Leases (1) $ — $ 428,951 $ 434,185 $ 439,498 $ 444,890 $ 450,363 $ 2,197,887 Mining Claim Government Fees 132,460 132,460 132,460 132,460 132,460 132,460 794,760 Total $ 132,460 $ 561,411 $ 566,645 $ 571,958 $ 577,350 $ 582,823 $ 2,992,647 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the level of work that will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2020
SUBSEQUENT EVENT
SUBSEQUENT EVENT	9. SUBSEQUENT EVENT In March 2020, the World Health Organization declared the novel coronavirus 2019 (“COVID-19”) a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. While it is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its ultimate effects on the Company’s business, results of operations or ability to raise funds at this time, as of the date of this Quarterly Report on Form 10-Q, the COVID-19 pandemic has not had any material adverse effects on the Company.

CAPITALIZED ACQUISITION COSTS (

CAPITALIZED ACQUISITION COSTS (Tables)	6 Months Ended
	Jun. 30, 2020
CAPITALIZED ACQUISITION COSTS
Schedule of capital acquisition costs	The Company had the following activity related to capitalized acquisition costs: Capitalized acquisition costs Amount Balance, December 31, 2019 $ 55,375,124 Acquisition costs — Balance, June 30, 2020 $ 55,375,124
Schedule of costs incurred for exploration and evaluation activities	The following table presents costs incurred for exploration and evaluation activities for the six months ended June 30, 2020 and 2019: June 30, 2020 June 30, 2019 Exploration costs: Aircraft services $ — $ 4,351 Environmental 80,189 82,216 Equipment rental 23,363 36,119 Field costs 49,942 50,604 Geological/geophysical 54,906 505,061 Land maintenance and tenure 425,212 438,827 Legal 12,947 39,936 Transportation and travel 5,464 5,424 Total expenditures for the period $ 652,023 $ 1,162,538

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
ACCRUED LIABILITIES
Schedule of accrued liabilities	The following table presents the accrued liabilities balances at June 30, 2020 and December 31, 2019. June 30, 2020 December 31, 2019 Accrued liabilities $ 204,003 $ 278,644 Accrued salaries and benefits 33,721 38,680 Total accrued liabilities $ 237,724 $ 317,324

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	6 Months Ended
	Jun. 30, 2020
SHARE CAPITAL
Schedule of stock option granted	A summary of the options granted under the Stock Option Plan as of June 30, 2020 and December 31, 2019 is presented below: Six Months Ended Year Ended June 30, 2020 December 31, 2019 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Price Intrinsic Value Number of Exercise Price Intrinsic Value Options (C$) (C$) Options (C$) (C$) Balance, beginning of the period 2,452,049 $ 0.94 3,655,991 $ 0.98 Granted 255,000 0.92 187,232 0.85 Exercised — — (121,174) 0.70 Cancelled — — (1,270,000) 1.06 Balance, end of the period 2,707,049 $ 0.94 $ 4,046,844 2,452,049 $ 0.94 $ 59,734
Schedule of stock options outstanding	Stock options outstanding are as follows: June 30, 2020 December 31, 2019 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable February 25, 2022 $ 1.11 510,000 510,000 $ 1.11 510,000 510,000 February 25, 2022 $ 0.73 270,000 270,000 $ 0.73 270,000 270,000 March 10, 2022 $ 1.11 120,000 120,000 $ 1.11 120,000 120,000 March 16, 2023 $ 1.00 580,000 580,000 $ 1.00 580,000 580,000 March 16, 2023 $ 0.50 130,000 130,000 $ 0.50 130,000 130,000 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 30,000 March 21, 2024 $ 0.61 374,817 374,817 $ 0.61 374,817 374,817 February 1, 2025 $ 1.35 250,000 250,000 $ 1.35 250,000 250,000 August 8, 2025 $ 0.85 187,232 187,232 $ 0.85 187,232 187,232 May 27, 2026 $ 0.92 255,000 85,000 — — — 2,707,049 2,537,049 2,452,049 2,452,049
Schedule of non-vested share activity	A summary of the non-vested options as of June 30, 2020 and changes during the six months ended June 30, 2020 is as follows: Weighted average grant- Number of date fair value Non-vested options: options (C$) Outstanding at December 31, 2019 — $ — Granted 255,000 $ 0.76 Vested (85,000) $ 0.76 Outstanding at June 30, 2020 170,000 $ 0.76
Schedule of deferred share units outstanding	DSUs outstanding are as follows: Six Months Ended Year Ended June 30, 2020 December 31, 2019 Weighted Average Weighted Number of Exercise Price Number of Average Exercise Units (C$) Units Price (C$) Balance, beginning of the period 1,383,396 $ 0.77 1,356,975 $ 0.72 Issued 451,085 $ 0.92 488,235 $ 0.85 Delivered — — (461,814) $ 0.71 Balance, end of the period 1,834,481 $ 0.81 1,383,396 $ 0.77
Schedule of fair value assumption	YTD June 30, 2020 Expected life of options 6 years Risk-free interest rate 0.40 % Annualized volatility 80.92 % Dividend rate % Exercise price (C$) $ 0.92

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
SEGMENT AND GEOGRAPHIC INFORMATION
Schedule of financial information by geographic location	The Company operates in a single reportable segment, being the exploration and development of mineral properties. The following tables present selected financial information by geographic location: Canada United States Total June 30, 2020 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,907 6,643 14,550 Current assets 5,116,493 575,235 5,691,728 Total assets $ 5,124,400 $ 55,957,002 $ 61,081,402 December 31, 2019 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,979 7,455 15,434 Current assets 6,652,289 523,886 7,176,175 Total assets $ 6,660,268 $ 55,906,465 $ 62,566,733 Three months ended June 30, 2020 June 30, 2019 Net loss for the period – Canada $ (701,159) $ (255,125) Net loss for the period – United States (785,305) (1,131,929) Net loss for the period $ (1,486,464) $ (1,387,054) Six months ended June 30, 2020 June 30, 2019 Net loss for the period – Canada $ (287,621) $ (601,504) Net loss for the period – United States (1,133,758) (1,606,462) Net loss for the period $ (1,421,379) $ (2,207,966)

COMMITMENTS (Tables)

COMMITMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
COMMITMENTS
Schedule of Contractual obligations including anticipated mineral property payments	The following table assumes that the Company retains the rights to all of its current mineral properties, but does not exercise any lease purchase or royalty buyout options: Payments Due by Year 2025 and 2020 2021 2022 2023 2024 beyond Total Mineral Property Leases (1) $ — $ 428,951 $ 434,185 $ 439,498 $ 444,890 $ 450,363 $ 2,197,887 Mining Claim Government Fees 132,460 132,460 132,460 132,460 132,460 132,460 794,760 Total $ 132,460 $ 561,411 $ 566,645 $ 571,958 $ 577,350 $ 582,823 $ 2,992,647 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the level of work that will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

GENERAL INFORMATION AND NATUR_2

GENERAL INFORMATION AND NATURE OF OPERATIONS (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
General Information Nature And Continuance Of Operations [Line Items]
Cash and cash equivalents	$ 5,490,127	$ 6,937,621
Livengood Property Purchase Obligation [Member]
General Information Nature And Continuance Of Operations [Line Items]
Noncontrolling interest ownership percentage by parent	100.00%

CAPITALIZED ACQUISITION COSTS_2

CAPITALIZED ACQUISITION COSTS (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
CAPITALIZED ACQUISITION COSTS
Balance, at the beginning of the period	$ 55,375,124
Acquisition costs	0
Balance, at the end of the period	$ 55,375,124

CAPITALIZED ACQUISITION COSTS -

CAPITALIZED ACQUISITION COSTS - Costs incurred for exploration and evaluation activities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Exploration costs:
Aircraft services	$ 0	$ 4,351
Environmental	80,189	82,216
Equipment rental	23,363	36,119
Field costs	49,942	50,604
Geological/geophysical	54,906	505,061
Land maintenance and tenure	425,212	438,827
Legal	12,947	39,936
Transportation and travel	5,464	5,424
Total expenditures for the period	$ 652,023	$ 1,162,538

CAPITALIZED ACQUISITION COSTS_3

CAPITALIZED ACQUISITION COSTS - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Proceeds from Issuance of Common Stock	$ 0	$ 64,254
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	344,553
Mining properties lease operating expense	$ 3,651,168
Minimum Royalty Payment Percentage	125.00%
Lessor, Operating Lease, Renewal Term	19 years
Lessor, Operating Lease, Term of Contract	19 years
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member] | Maximum [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	5.00%
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member] | Maximum [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	1.00%
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member] | Minimum [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	2.50%
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member] | Minimum [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	0.50%
Livengood Property [Member] | Federal Unpatented Lode Mining Claims [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	$ 50,000
Mining properties lease operating expense	$ 830,000
Livengood Property [Member] | Federal Unpatented Lode Mining Claims [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Portion of royalty to be purchased by the entity	1.00%
Payments for Royalties	$ 1,000,000
Livengood Property [Member] | Federal Unpatented Lode Mining Claims [Member] | Maximum [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	3.00%
Livengood Property [Member] | Federal Unpatented Lode Mining Claims [Member] | Minimum [Member] | Advance Royalties [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	$ 50,000
Livengood Property [Member] | Federal Unpatented Lode Mining Claims [Member] | Minimum [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Minimum royalty percentage	2.00%
Livengood Property [Member] | Patented Lode Claims [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Portion Of Cash Payments Payable To Acquire Royalty Interests In Mining Properties	$ 500,000
Payments for Royalties	15,000
Mining properties lease operating expense	$ 250,000
Percentage Of Mining Claims Acquired Subject to Lease	40.00%
Percentage of Leasehold Interest	40.00%
Livengood Property [Member] | Patented Lode Claims [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Net Smelter Return Base For Payments To Acquire Royalty Interests In Mining Properties	3.00%
Minimum royalty percentage	3.00%
Payments for Royalties	$ 1,000,000
Livengood Property [Member] | Patented Lode Claims [Member] | Minimum [Member] | Advance Royalties [Member] | On or Before Each Anniversary [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	20,000
Livengood Property [Member] | Patented Lode Claims [Member] | Minimum [Member] | Advance Royalties [Member] | On or Before Each Subsequent Anniversary [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	25,000
Livengood Property [Member] | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Payments for Royalties	15,000
Mining properties lease operating expense	173,000
Livengood Property [Member] | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims [Member] | On or Before Each Anniversary [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Advance royalties	15,000
Livengood Property [Member] | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims [Member] | Production Royalty [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Balance Portion Of Payments To Acquire Royalty Interests In Mining Properties Payable By Way Of Net Smelter Return	125,000
Amount Payable To Lessor On Positive Production Decision	250,000
Portion Of Amount Payable To Lessor On Positive Production Decision Within Prescribed Period Of Decision	$ 125,000
Minimum royalty percentage	2.00%
Payments for Royalties	$ 1,000,000
Livengood Property [Member] | Unpatented Federal Lode Mining And Federal Unpatented Placer Claims [Member] | Maximum [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Prescribed Period From Decision On Positive Production For Payment Of First Half Amount Payable To Lessor	120 days

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
ACCRUED LIABILITIES
Accrued liabilities	$ 204,003	$ 278,644
Accrued salaries and benefits	33,721	38,680
Total accrued liabilities	$ 237,724	$ 317,324

ACCRUED LIABILITIES - Additiona

ACCRUED LIABILITIES - Additional Information (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
ACCRUED LIABILITIES
Accrued general corporate cost current	$ 37,684	$ 57,114
Accrued project cost current	$ 166,319	$ 221,530

SHARE CAPITAL - Stock Option Pl

SHARE CAPITAL - Stock Option Plan (Details) - Employee Stock Option [Member] - CAD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of Options
Balance, beginning of the period	2,452,049	3,655,991
Granted	255,000	187,232
Exercised		(121,174)
Cancelled	0	(1,270,000)
Balance, end of the period	2,707,049	2,452,049
Weighted Average Exercise Price
Balance, beginning of the period	$ 0.94	$ 0.98
Granted	0.92	0.85
Exercised		0.70
Cancelled	0	1.06
Balance, end of the period	$ 0.94	$ 0.94
Aggregate Intrinsic Value
Balance, end of the period	$ 4,046,844	$ 59,734

SHARE CAPITAL - Stock options o

SHARE CAPITAL - Stock options outstanding (Details) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options (in shares)	2,707,049	2,452,049
Exercisable (in shares)	2,537,049	2,452,049
Exercise Price February 25, 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.11	$ 1.11
Number of Options (in shares)	510,000	510,000
Exercisable (in shares)	510,000	510,000
Exercise Price February 25, 2022 $ 0.73
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.73	$ 0.73
Number of Options (in shares)	270,000	270,000
Exercisable (in shares)	270,000	270,000
Exercise Price March 10, 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.11	$ 1.11
Number of Options (in shares)	120,000	120,000
Exercisable (in shares)	120,000	120,000
Exercise Price March 16, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	580,000	580,000
Exercisable (in shares)	580,000	580,000
Exercise Price March 16, 2023 $ 0.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.50	$ 0.50
Number of Options (in shares)	130,000	130,000
Exercisable (in shares)	130,000	130,000
Exercise Price June 9, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	30,000	30,000
Exercisable (in shares)	30,000	30,000
Exercise Price March 21, 2024 $ 0.61
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.61	$ 0.61
Number of Options (in shares)	374,817	374,817
Exercisable (in shares)	374,817	374,817
Exercise Price February 1, 2025 $ 1.35
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 1.35	$ 1.35
Number of Options (in shares)	250,000	250,000
Exercisable (in shares)	250,000	250,000
Exercise Price August 8, 2025 $ 0.85
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.85	$ 0.85
Number of Options (in shares)	187,232	187,232
Exercisable (in shares)	187,232	187,232
Exercise Price May 27, 2026 $ 0.92
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	$ 0.92	$ 0
Number of Options (in shares)	255,000	0
Exercisable (in shares)	85,000	0

SHARE CAPITAL - Non-vested opti

SHARE CAPITAL - Non-vested options (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Number of options
Balance, beginning of the year (in shares) | shares	0
Granted (in shares) | shares	255,000
Vested (in shares) | shares	(85,000)
Balance, end of the year (in shares) | shares	170,000
Weighted average grant-date fair value
Balance, beginning of the year (in Canadian dollars per share) | $ / shares	$ 0
Granted (in Canadian dollars per share) | $ / shares	0.76
Vested (in Canadian dollars per share) | $ / shares	0.76
Balance, end of the year (in Canadian dollars per share) | $ / shares	$ 0.76

SHARE CAPITAL - DSUs outstandin

SHARE CAPITAL - DSUs outstanding (Details) - Deferred Share Unit Incentive Plan [Member] - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Balance, beginning of the period	1,383,396	1,356,975	1,356,975
Issued	451,085	0	488,235
Delivered			(461,814)
Balance, end of the period	1,834,481		1,383,396
Balance, beginning of the period	$ 0.77	$ 0.72	$ 0.72
Issued	0.92		0.85
Delivered			0.71
Balance, end of the period	$ 0.81		$ 0.77

SHARE CAPITAL - Weighted averag

SHARE CAPITAL - Weighted average assumptions (Details)	6 Months Ended
	Jun. 30, 2020$ / shares
SHARE CAPITAL
Expected life of options	6 years
Risk-free interest rate	0.40%
Annualized volatility	80.92%
Dividend rate	0.00%
Exercise price (C$)	$ 0.92

SHARE CAPITAL - Additional Info

SHARE CAPITAL - Additional Information (Details)	3 Months Ended	6 Months Ended			12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2020CAD ($)$ / sharesshares	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)shares	Dec. 31, 2019$ / sharesshares	Dec. 31, 2018shares
Stockholders Equity [Line Items]
Common Stock, Shares Authorized | shares		500,000,000			500,000,000
Common Stock, Shares, Issued | shares		187,573,671			187,573,671
Common Stock, Shares, Outstanding | shares		187,573,671			187,573,671
Allocated share-based compensation expense			$ 348,252	$ 1,686
Weighted average remaining outstanding (in years)		3 years 1 month 6 days	3 years 1 month 6 days
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Authorized		10.00%
Exercise price (C$) | $ / shares		$ 0.92
Stock Issued During Period, Value, New Issues	$ 0			0
Stock Issued During Period, Value, Stock Options Exercised				$ 64,254
Unrecognized compensation expense		$ 120,533
Weighted-average remaining period		1 year 5 months 1 day	1 year 5 months 1 day
Employee Stock Option [Member]
Stockholders Equity [Line Items]
Stock option granted | shares		255,000	255,000		187,232
Allocated share-based compensation expense			$ 6,310
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares		2,707,049			2,452,049	3,655,991
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares					121,174
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 0.92			$ 0.85
Plan 2006 [Member]
Stockholders Equity [Line Items]
Share based compensation arrangement by share based payment award shares authorized percentage		10.00%
Deferred Share Unit Incentive Plan [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			$ 294,617
Weighted average granted value per share | $ / shares		$ 0.92			$ 0.85
Stock option granted in under DSU plan | shares		451,085	451,085	0	488,235
Deferred Share Unit Incentive Plan [Member] | Non-Paulson Directors [Member]
Stockholders Equity [Line Items]
Share Based Compensation Arrangement By Share Based Payment Towards Equity Instruments Other Than Options Grants In Period Aggregate Weighted Average Grant Date Fair Value		$ 415,000
Weighted average granted value per share | $ / shares		$ 0.92
Number of shares obligation | shares		90,217	90,217
Share Based Compensation Arrangement By Share Based Payment, Towards Equity Instruments Other Than Options, Grants In Period, Aggregate Weighted Average Grant Date Fair Value, Per Director		$ 83,000
Incentive Stock Option Plan 2006 [Member] | Share-based Payment Arrangement, Employee [Member] | Employee Stock Option [Member]
Stockholders Equity [Line Items]
Stock option granted | shares		255,000	255,000	0
Consulting Fees Expenses [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			$ 300,927
Consulting Fees Expenses [Member] | Deferred Share Unit Incentive Plan [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			294,617
Wages And Benefits Expenses [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			44,170
Wages And Benefits Expenses [Member] | Employee Stock Option [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			53,635
Investor Relations Expenses [Member]
Stockholders Equity [Line Items]
Allocated share-based compensation expense			$ 3,155

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION - Summary of Financial Information by Geographic Location (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Capitalized acquisition costs	$ 55,375,124		$ 55,375,124		$ 55,375,124
Property and equipment	14,550		14,550		15,434
Current assets	5,691,728		5,691,728		7,176,175
Total assets	61,081,402		61,081,402		62,566,733
Net loss for the period	(1,486,464)	$ (1,387,054)	(1,421,379)	$ (2,207,966)
Canada
Segment Reporting Information [Line Items]
Capitalized acquisition costs	0		0		0
Property and equipment	7,907		7,907		7,979
Current assets	5,116,493		5,116,493		6,652,289
Total assets	5,124,400		5,124,400		6,660,268
Net loss for the period	(701,159)	(255,125)	(287,621)	(601,504)
United States
Segment Reporting Information [Line Items]
Capitalized acquisition costs	55,375,124		55,375,124		55,375,124
Property and equipment	6,643		6,643		7,455
Current assets	575,235		575,235		523,886
Total assets	55,957,002		55,957,002		$ 55,906,465
Net loss for the period	$ (785,305)	$ (1,131,929)	$ (1,133,758)	$ (1,606,462)

COMMITMENTS (Details)

COMMITMENTS (Details)	Jun. 30, 2020USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
2020	$ 132,460
2021	561,411
2022	566,645
2023	571,958
2024	577,350
2025 and beyond	582,823
Total	2,992,647
Mineral Property Leases [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2021	428,951
2022	434,185
2023	439,498
2024	444,890
2025 and beyond	450,363
Total	2,197,887
Mining Claim Government Fees [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2020	132,460
2021	132,460
2022	132,460
2023	132,460
2024	132,460
2025 and beyond	132,460
Total	$ 794,760