International Tower Hill Mines (THM) 10-K 16 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 09, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	INTERNATIONAL TOWER HILL MINES LTD
Entity Central Index Key	1,134,115
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 34,572,554
Trading Symbol	THM
Entity Common Stock, Shares Outstanding		116,313,638

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 6,493,486	$ 13,521,473
Prepaid expenses and other	192,226	242,058
Total current assets	6,685,712	13,763,531
Property and equipment	30,083	37,128
Capitalized acquisition costs	55,204,041	55,204,041
Total assets	61,919,836	69,004,700
Current liabilities
Accounts payable	122,043	270,488
Accrued liabilities	394,436	878,682
Total current liabilities	516,479	1,149,170
Non-current liabilities
Derivative liability	13,900,000	14,700,000
Total liabilities	14,416,479	15,849,170
Shareholders’ equity
Share capital, no par value; authorized 500,000,000 shares; 116,313,638 shares issued and outstanding at December 31, 2015 and December 31, 2014	243,692,185	243,692,185
Contributed surplus	33,979,717	33,439,249
Accumulated other comprehensive income	816,435	2,196,252
Deficit accumulated during the exploration stage	(230,984,980)	(226,172,156)
Total shareholders’ equity	47,503,357	53,155,530
Total liabilities and shareholders’ equity	$ 61,919,836	$ 69,004,700

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	116,313,638	116,313,638
Common Stock, Shares, Outstanding	116,313,638	116,313,638

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Expenses
Consulting fees	$ 418,424	$ 333,145	$ 1,344,578
Depreciation	7,047	15,779	21,800
Insurance	259,753	270,724	284,993
Investor relations	132,305	221,665	304,797
Mineral property exploration	2,381,868	2,631,974	8,188,995
Office	33,643	68,941	97,560
Other	19,789	28,792	52,518
Professional fees	230,227	389,218	467,510
Regulatory	160,503	119,154	125,019
Rent	153,178	225,405	226,477
Travel	93,829	121,740	196,811
Wages and benefits	2,559,610	3,946,751	6,863,713
Total operating expenses	(6,450,176)	(8,373,288)	(18,174,771)
Other income (expense)
Gain on foreign exchange	990,690	453,161	917,301
Interest income	43,670	56,670	103,759
Impairment of available-for-sale securities	(219,402)	0	(298,769)
Unrealized gain on derivative	800,000	100,000	7,600,000
Other	22,394	(3,639)	0
Total other income (expense)	1,637,352	606,192	8,322,291
Net loss for the year	(4,812,824)	(7,767,096)	(9,852,480)
Other comprehensive income (loss)
Unrealized loss on marketable securities	(5,838)	(24,717)	(118,917)
Impairment of available-for-sale securities	219,402	0	298,769
Exchange difference on translating foreign operations	(1,593,381)	(800,312)	(1,260,539)
Total other comprehensive loss for the year	(1,379,817)	(825,029)	(1,080,687)
Comprehensive loss for the year	$ (6,192,641)	$ (8,592,125)	$ (10,933,167)
Basic and fully diluted net loss per share	$ (0.04)	$ (0.08)	$ (0.1)
Weighted average number of shares outstanding	116,313,638	99,068,364	98,068,638

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Balance at Dec. 31, 2012	$ 60,540,075	$ 236,401,096	$ 28,589,591	$ 4,101,968	$ (208,552,580)
Balance (in shares) at Dec. 31, 2012		98,068,638
Stock based compensation	3,564,273	$ 0	3,564,273	0	0
Unrealized loss on available-for-sale securities	(118,917)	0	0	(118,917)	0
Impairment of available-for-sale securities	298,769	0	0	298,769	0
Exchange difference on translating foreign operations	(1,260,539)	0	0	(1,260,539)	0
Net loss	(9,852,480)	0	0	0	(9,852,480)
Balance at Dec. 31, 2013	53,171,181	$ 236,401,096	32,153,864	3,021,281	(218,405,060)
Balance (in shares) at Dec. 31, 2013		98,068,638
Private placement	7,315,917	$ 7,315,917	0	0	0
Private placement (in shares)		18,245,000
Share issuance costs	(24,828)	$ (24,828)	0	0	0
Stock based compensation	1,285,385	0	1,285,385	0	0
Unrealized loss on available-for-sale securities	(24,717)	0	0	(24,717)	0
Impairment of available-for-sale securities	0
Exchange difference on translating foreign operations	(800,312)	0	0	(800,312)	0
Net loss	(7,767,096)	0	0	0	(7,767,096)
Balance at Dec. 31, 2014	53,155,530	$ 243,692,185	33,439,249	2,196,252	(226,172,156)
Balance (in shares) at Dec. 31, 2014		116,313,638
Stock based compensation	540,468	$ 0	540,468	0	0
Unrealized loss on available-for-sale securities	(5,838)	0	0	(5,838)	0
Impairment of available-for-sale securities	219,402	0	0	219,402	0
Exchange difference on translating foreign operations	(1,593,381)	0	0	(1,593,381)	0
Net loss	(4,812,824)	0	0	0	(4,812,824)
Balance at Dec. 31, 2015	$ 47,503,357	$ 243,692,185	$ 33,979,717	$ 816,435	$ (230,984,980)
Balance (in shares) at Dec. 31, 2015		116,313,638

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Operating Activities
Loss for the year	$ (4,812,824)	$ (7,767,096)	$ (9,852,480)
Add items not affecting cash:
Depreciation	7,047	15,779	21,800
Share-based payments	540,468	1,285,385	3,564,273
Unrealized gain on derivative liability	(800,000)	(100,000)	(7,600,000)
Impairment of available-for-sale securities	219,402	0	298,769
Write-down of advance to contractors	0	0	482,009
Other	0	15,004	0
Changes in non-cash items:
Accounts receivable	115,527	44,744	393,437
Prepaid expenses	(27,786)	25,727	18,193
Advance to contractors	30,682	(30,682)	100,000
Accounts payable and accrued liabilities	(612,304)	(332,439)	(2,246,348)
Cash used in operating activities	(5,339,788)	(6,843,578)	(14,820,347)
Financing Activities
Issuance of share capital	0	7,315,917	0
Share issuance costs	0	(24,828)	0
Cash provided by financing activities	0	7,291,089	0
Investing Activities
Change in restricted cash	0	30,477	(30,477)
Capitalized acquisition costs	0	(30,477)	0
Cash used in investing activities	0	0	(30,477)
Effect of foreign exchange on cash	(1,688,199)	(851,639)	(1,394,480)
Decrease in cash and cash equivalents	(7,027,987)	(404,128)	(16,245,304)
Cash and cash equivalents, beginning of year	13,521,473	13,925,601	30,170,905
Cash and cash equivalents, end of year	$ 6,493,486	$ 13,521,473	$ 13,925,601

GENERAL INFORMATION, NATURE OF

GENERAL INFORMATION, NATURE OF OPERATIONS AND LIQUIDITY RISK	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	1. GENERAL INFORMATION, NATURE OF OPERATIONS AND LIQUIDITY RISK 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), Livengood Placers, Inc. (“LPI”) (a Nevada corporation), and 813034 Alberta Ltd. (an Alberta 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 December 31, 2015, the Company was in the exploration stage and controls a 100 These consolidated 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. The Company will require significant additional financing to continue its operations in connection with advancing activities at the Livengood Gold Project, to make the Additional Payment due on January 12, 2017 (see Note 6) and for 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 be able to obtain the additional financing required on acceptable terms, if at all. As of December 31, 2015, the Company’s estimate of the amount of the Additional Payment is $ 13,900,000 Should the Company be unable to make the Additional Payment, the Company will have 30 days to remedy the event of default. Should the default not be remedied, the Company may be required to deliver the underlying claims, which are not part of the project’s gold resource but are part of the 75 square mile Livengood land package, into a trust in order for them to be sold. Should the proceeds from sale not be sufficient to satisfy the outstanding amount of the Additional Payment, the beneficiaries will have recourse against the Company for any shortfall. The Company considers it highly likely that the proceeds from any such sale, should it prove necessary, would be sufficient to satisfy the amount of the Additional Payment. 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. 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. Due to this uncertainty, if the Company is unable to secure additional financing, it may be required to reduce all discretionary activities at the Project to preserve its working capital to fund anticipated non-discretionary expenditures beyond the 2016 fiscal year.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These consolidated financial statements are presented in United States dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). On March 15, 2016, the Board approved the consolidated financial statements dated December 31, 2015. These consolidated financial statements include the accounts of ITH and its wholly owned subsidiaries TH Alaska, TH US, LPI and 813034 Alberta Ltd. All intercompany transactions and balances have been eliminated. The preparation of financial statements in accordance 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 regularly 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. The areas which require significant judgment and estimates that management has made at the financial reporting date, that could result in a material change to the carrying amounts of assets and liabilities, in the event actual results differ from the assumptions made, relate to, but are not limited to the following: Significant estimates ⋅ the fair value determination and inputs used in the valuation of the derivative liability (see Note 6). Significant judgments ⋅ the determination of functional currencies; ⋅ quantitative and qualitative factors used in the assessment of impairment of the Company’s capitalized acquisition costs; and ⋅ the analysis of resource calculations, drill results, labwork, etc. which can impact the Company’s assessment of impairment, and provisions, if any, for environmental rehabilitation and restoration. The Company’s assessment of impairment related to its capitalized acquisition costs at December 31, 2015 was based on estimated undiscounted future cash flows expected to result from the use and eventual disposition of these assets. The assessment took into account the Company’s expectation for the future price of gold as well as the probability of achieving certain opportunities to enhance the economics of the Livengood Gold Project as set out in the September 2013 Study and as subsequently developed by the Company. Based on this assessment, no impairments were recorded at December 31, 2015. Cash equivalents include highly liquid investments with original maturities of three months or less, and which are subject to an insignificant risk of change in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes. Marketable securities held in companies with an active market are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value in the financial statements with unrealized gains and losses recorded in accumulated other comprehensive income. Accumulated unrealized gains and losses are recognized in the statement of operations upon the sale of the security or if the security is determined to be impaired. On initial recognition, property and equipment are valued at cost. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. Depreciation is recorded over the estimated useful life of the assets at the following annual rates: Computer equipment - 30% declining balance; Computer software - 3 years straight line; Furniture and equipment - 20% declining balance; and Leasehold improvements - straight-line over the lease term. Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate. The Company’s mineral project is currently in the exploration and evaluation phase. Mineral property acquisition costs are capitalized when incurred. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%. The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to income. The Company does not have any material provisions for environmental rehabilitation as of December 31, 2015. Derivative financial liabilities include the Company’s future contingent mineral property payment valued using estimated future gold prices. Derivatives are initially recognized at their fair value on the date the derivative contract is entered into and are subsequently re-measured at their fair value at each reporting period with changes in the fair value recognized in the statement of operations. The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized. Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or contracts that may require the issuance of common shares in the future were converted, unless the impact is anti-dilutive. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity based compensation awards to be accounted for using the fair value method. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of the awards. Compensation expense is measured at the grant date and recognized over the requisite service period, which is generally the vesting period. In June 2014, the FASB issued Accounting Standards Update 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC 718, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2014-12 is not expected to have a material impact on our financial position, results of operations or cash flows. In August 2015, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements – Going Concern (Topic 205-40): Disclosures Related to Uncertainties About Going Concern (“ASU 2014-15”). ASU 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosure. The new standard incorporates some of the principles of the current auditing standards and builds upon them, as follows: • Requires an assessment each annual and interim reporting period. • Defines substantial doubt. • Sets a look-forward period of one year from the financial statement issuance date. • Requires disclosures even when an initially-identified substantial doubt is alleviated by management's plans. The amendments in ASU 2014-15 are effective for years ending after December 15, 2016 and for years and interim periods thereafter. Early adoption of this standard is permitted but the Company has not yet adopted the standard. The Company is currently assessing the impact of adoption but expects the impact to be minimal.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	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. Fair value as at December 31, 2015 Level 1 Level 2 Financial assets: Marketable securities $ 11,741 $ - $ 11,741 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 13,900,000 $ - $ 13,900,000 Fair value as at December 31, 2014 Level 1 Level 2 Financial assets: Marketable securities $ 26,894 $ - $ 26,894 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 14,700,000 $ - $ 14,700,000

CAPITALIZED ACQUISITION COSTS

CAPITALIZED ACQUISITION COSTS	12 Months Ended
	Dec. 31, 2015
Mineral Industries Disclosures [Abstract]
Mineral Industries Disclosures [Text Block]	4. CAPITALIZED ACQUISITION COSTS Capitalized acquisition costs Amount Balance, December 31, 2013 $ 55,173,564 Additions 30,477 Balance, December 31, 2014 $ 55,204,041 Additions - Balance, December 31, 2015 $ 55,204,041 Year ended Year ended Exploration costs: Aircraft services $ 4,185 $ 10,286 Assay 9,984 8,163 Drilling - 119,036 Environmental 639,172 1,201,642 Equipment rental 44,514 52,709 Field costs 186,661 211,848 Geological/geophysical 945,390 70,388 Land maintenance & tenure 501,321 530,543 Legal 21,887 367,556 Surveying and mapping - 26,503 Transportation and travel 28,754 33,300 Total expenditures for the year $ 2,381,868 $ 2,631,974 Properties acquired from AngloGold, Alaska Pursuant to an Asset Purchase and Sale and Indemnity Agreement dated June 30, 2006, as amended on July 26, 2007 (the “AngloGold Agreement”), among the Company, AngloGold Ashanti (U.S.A.) Exploration Inc. (“AngloGold”) and TH Alaska, the Company acquired all of AngloGold’s interest in a portfolio of seven mineral exploration projects in Alaska and referred to as the Livengood, Chisna, Gilles, Coffee Dome, West Pogo, Blackshell, and Caribou properties (the “Sale Properties”) in exchange for a cash payment of $ 50,000 5,997,295 19.99 11,479,348 10 As further consideration for the transfer of the Sale Properties, the Company granted to AngloGold a 90 10 10 Details of the Livengood Property (being the only Sale Property still held by the Company) are as follows: Livengood Property: The Livengood property is located in the Tintina gold belt approximately 113 kilometers (70 miles) north 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 19 125 19 2.5 5.0 0.5 1.0 1,975,890 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 2 3 1 1,000,000 580,000 c) a lease of patented lode 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 25,000 3 1,000,000 500,000 500,000 3 145,000 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 $ 15,000 250,000 125,000 120 125,000 2 1,000,000 98,000 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	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	5. ACCRUED LIABILITIES December 31, December 31, Accrued liabilities $ 247,034 $ 334,423 Accrued severance 19,900 390,659 Accrued salaries and benefits 127,502 153,600 Total accrued liabilities $ 394,436 $ 878,682 Accrued liabilities at December 31, 2015 include accruals for general corporate costs and project costs of $ 27,535 219,499 74,413 260,010

DERIVATIVE LIABILITY

DERIVATIVE LIABILITY	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Fair Value [Text Block]	6. DERIVATIVE LIABILITY During 2011, the Company acquired certain mining claims and related rights in the vicinity of the Livengood Gold Project located near Fairbanks, Alaska. The aggregate consideration for the claims and rights was $13,500,000 in cash plus an additional payment based on the five-year average daily gold price (“Average Gold Price”) from the date of the acquisition (“Additional Payment”). The Additional Payment will equal $23,148 for every dollar that the Average Gold Price exceeds $720 per troy ounce. If the Average Gold Price is less than $720, there will be no additional consideration due. At initial recognition on December 13, 2011 the derivative liability was valued at $23,100,000. The key assumption used in the valuation of the derivative is the estimate of the future Average Gold Price. The estimate of the future Average Gold Price was determined using a forward curve on future gold prices as published by the CME Group. Using this forward curve, the Company estimated an Average Gold Price based on actual gold prices to December 31, 2015 and projected gold prices from December 31, 2015 to the end of the five year period in December 2016 of $1,320 per ounce of gold. The fair value of the derivative liability and the estimated Average Gold Price are as follows: Fair value Average Gold Derivative value at December 31, 2013 $ 14,800,000 $ 1,360 Unrealized gain for the year (100,000 ) Derivative value at December 31, 2014 14,700,000 $ 1,356 Unrealized gain for the year (800,000 ) Derivative value at December 31, 2015 $ 13,900,000 $ 1,320

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	7. INCOME TAXES December 31, December 31, Loss before income taxes $ (4,812,824) $ (7,767,096) Statutory Canadian corporate tax rate 25.00 % 25.00 % Income tax recovery at statutory rates $ (1,203,207) $ (1,941,774) Share-based payments 135,117 321,346 Unrecognized items for tax purposes (172,870) (5,383) Difference in tax rates in other jurisdictions (756,235) (1,072,910) Change in valuation allowance 1,997,195 2,698,721 Income tax recovery $ - $ - December 31, December 31, Deferred income tax assets (liabilities): Mineral properties $ 57,243,323 $ 57,243,322 Derivative liability (1,996,400) (1,822,800) Donations 92,160 - Other 55,349 62,329 Share issue costs 31,438 148,685 Non-capital losses available for future periods 33,462,392 31,229,931 88,888,262 86,861,467 Valuation allowance (88,888,262) (86,861,467) Deferred income tax asset $ - $ - 17,942,000 66,767,000 Canada United States 2025 $ 65,000 $ - 2026 78,000 - 2027 907,000 1,252,000 2028 1,253,000 1,350,000 2029 2,074,000 2,600,000 2030 2,829,000 5,691,000 2031 4,180,000 14,730,000 2032 2,629,000 18,371,000 2033 1,827,000 11,962,000 2034 1,694,000 5,901,000 2035 406,000 4,910,000 17,942,000 66,767,000 In addition, the Company has available mineral resource related expenditure pools for Canadian income tax purposes totalling approximately $ 2,628,000 185,999,000

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	8. SHARE CAPITAL Authorized 500,000,000 116,313,638 Share issuances During the fourth quarter of 2014, the Company closed a non-brokered private placement financing through the issuance of 18,245,000 0.46 7,315,917 24,828 Stock options The Company adopted an incentive stock option plan in 2006, as amended September 19, 2012 and re-approved on May 28, 2015 at the Company’s Annual General Meeting (the “2006 Plan”). The essential elements of the 2006 Plan provide that the aggregate number of common shares of the Company’s capital stock that may be made issuable pursuant to options granted under the 2006 Plan may not exceed 10 During the year ended December 31, 2015, the Company granted incentive stock options to certain officers, employees and consultants of the Company to purchase a total of 2,135,200 Year Ended Year Ended December 31, 2015 December 31, 2014 Number of Weighted Number of Weighted Balance, beginning of the year 5,854,000 $ 2.68 5,493,000 $ 3.57 Granted 2,135,200 $ 0.80 2,480,000 $ 1.00 Expired - $ - - $ - Forfeited - $ - (600,000) $ 3.17 Cancelled (1,923,000) $ 4.01 (1,519,000) $ 2.97 Balance, end of the year 6,066,200 $ 1.60 5,854,000 $ 2.68 The weighted average remaining life of options outstanding at December 31, 2015 was 5.1 December 31, 2015 December 31, 2014 Expiry Date Exercise Number of Exercisable Exercise Number of Exercisable August 23, 2016 $ - - - $ 8.07 600,000 600,000 January 9, 2017 $ - - - $ 4.60 30,000 30,000 August 24, 2017 $ 3.17 1,675,000 1,675,000 $ 3.17 2,275,000 2,275,000 March 14, 2018 $ 2.18 319,000 319,000 $ 2.18 469,000 312,660 February 25, 2022 $ 1.11 1,030,000 686,666 $ 1.11 1,360,000 453,333 February 25, 2022 $ 0.73 594,000 396,000 $ 0.73 690,000 230,000 March 10, 2022 $ 1.11 430,000 286,666 $ 1.11 430,000 143,333 March 16, 2023 $ 1.00 1,260,000 419,999 $ - - - March 16, 2023 $ 0.50 728,200 242,733 $ - - - June 9, 2023 $ 1.00 30,000 10,000 $ - - - 6,066,200 4,036,064 5,854,000 4,044,326 Non-vested options: Number of options Weighted average Outstanding at December 31, 2013 1,802,017 $ 1.38 Granted 2,480,000 $ 0.49 Vested (2,272,342) $ 1.10 Forfeited (200,001) $ 1.61 Outstanding at December 31, 2014 1,809,674 $ 0.49 Granted 2,135,200 $ 0.25 Vested (1,914,738) $ 0.39 Outstanding at December 31, 2015 2,030,136 $ 0.34 At December 31, 2015 there was unrecognized compensation expense of C$ 164,678 0.82 Share-based payments During the year ended December 31, 2015, the Company granted 2,135,200 540,101 540,468 1,285,385 3,564,273 Year ended Year ended Expected life of options 6 years 6 years Risk-free interest rate 0.97 % 1.83 % Expected volatility 80.60 % 81.02 % Dividend rate 0.00 % 0.00 % Exercise price (C$) $ 0.80 $ 1.00 The expected volatility used in the Black-Scholes option pricing model is based on the historical volatility of the Company’s shares.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	9. SEGMENT AND GEOGRAPHIC INFORMATION Canada United States Total December 31, 2015 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 9,563 20,520 30,083 Current assets 6,106,135 579,577 6,685,712 Total assets $ 6,115,698 $ 55,804,138 $ 61,919,836 December 31, 2014 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 10,477 26,651 37,128 Current assets 13,003,412 760,119 13,763,531 Total assets $ 13,013,889 $ 55,990,811 $ 69,004,700 Year ended Year ended Year ended Net loss for the year - Canada $ (702,851) $ (1,936,065) $ (4,216,835) Net loss for the year - United States (4,109,973) (5,831,031) (5,635,645) Net loss for the year $ (4,812,824) $ (7,767,096) $ (9,852,480)

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	COMMITMENTS The following table discloses, as of December 31, 2015, the Company’s contractual obligations including anticipated mineral property payments and work commitments. Under the terms of the Company’s mineral property purchase agreements, mineral leases and the terms of the unpatented mineral claims held by it, 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 expenditures, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. Payments Due by Year 2016 2017 2018 2019 2020 2021 and Total Livengood Property Purchase (1) $ - $ 13,900,000 $ - $ - $ - $ - $ 13,900,000 Mineral Property Leases (2) 381,872 421,850 426,903 432,032 442,237 447,521 2,552,415 Mining Claim Government Fees 114,445 114,445 114,445 114,445 114,445 114,445 686,670 Total $ 496,317 $ 14,436,295 $ 541,348 $ 546,477 $ 556,682 $ 561,966 $ 17,139,085 1. The amount payable in January 2017 of $ 13,900,000 2. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	11. RELATED PARTY TRANSACTIONS In December 2011, in accordance with a Stock and Asset Purchase Agreement (the “Agreement”) between the Company, Alaska/Nevada Gold Mines, Ltd. (“AN Gold Mines”) and the Heflinger Group, the Company acquired certain mining claims and related rights in the vicinity of the Livengood Gold Project located near Fairbanks, Alaska. The Company’s derivative liability, as described in Note 6 above, represents the remaining consideration for the purchase of these claims and related rights and is payable in January 2017. Under the Agreement, the payment is due 70 30 Mr. Hanneman was appointed Chief Operating Officer of the Company on March 26, 2015. Mr. Hanneman is a partner of the general partner, as well as a limited partner, of AN Gold Mines and holds an 11.9

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These consolidated financial statements are presented in United States dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). On March 15, 2016, the Board approved the consolidated financial statements dated December 31, 2015.
Basis of consolidation	Basis of consolidation These consolidated financial statements include the accounts of ITH and its wholly owned subsidiaries TH Alaska, TH US, LPI and 813034 Alberta Ltd. All intercompany transactions and balances have been eliminated.
Significant judgments, estimates and assumptions	Significant judgments, estimates and assumptions The preparation of financial statements in accordance 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 regularly 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. The areas which require significant judgment and estimates that management has made at the financial reporting date, that could result in a material change to the carrying amounts of assets and liabilities, in the event actual results differ from the assumptions made, relate to, but are not limited to the following: Significant estimates ⋅ the fair value determination and inputs used in the valuation of the derivative liability (see Note 6). Significant judgments ⋅ the determination of functional currencies; ⋅ quantitative and qualitative factors used in the assessment of impairment of the Company’s capitalized acquisition costs; and ⋅ the analysis of resource calculations, drill results, labwork, etc. which can impact the Company’s assessment of impairment, and provisions, if any, for environmental rehabilitation and restoration. The Company’s assessment of impairment related to its capitalized acquisition costs at December 31, 2015 was based on estimated undiscounted future cash flows expected to result from the use and eventual disposition of these assets. The assessment took into account the Company’s expectation for the future price of gold as well as the probability of achieving certain opportunities to enhance the economics of the Livengood Gold Project as set out in the September 2013 Study and as subsequently developed by the Company. Based on this assessment, no impairments were recorded at December 31, 2015.
Cash and cash equivalents	Cash and cash equivalents Cash equivalents include highly liquid investments with original maturities of three months or less, and which are subject to an insignificant risk of change in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.
Marketable securities	Marketable securities Marketable securities held in companies with an active market are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value in the financial statements with unrealized gains and losses recorded in accumulated other comprehensive income. Accumulated unrealized gains and losses are recognized in the statement of operations upon the sale of the security or if the security is determined to be impaired.
Property and equipment	Property and equipment On initial recognition, property and equipment are valued at cost. Property and equipment is subsequently measured at cost less accumulated depreciation, less any accumulated impairment losses, with the exception of land which is not depreciated. Depreciation is recorded over the estimated useful life of the assets at the following annual rates: Computer equipment - 30% declining balance; Computer software - 3 years straight line; Furniture and equipment - 20% declining balance; and Leasehold improvements - straight-line over the lease term. Additions during the year are depreciated at one-half the annual rates. Depreciation methods, useful lives and residual values are reviewed at each financial year-end and adjusted if appropriate.
Mineral properties and exploration and evaluation expenditures	The Company’s mineral project is currently in the exploration and evaluation phase. Mineral property acquisition costs are capitalized when incurred. Mineral property exploration costs are expensed as incurred. At such time that the Company determines that a mineral property can be economically developed, subsequent mineral property expenses will be capitalized during the development of such property. The Company assesses interests in exploration properties for impairment when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. Impairment analysis includes assessment of the following circumstances: a significant decrease in the market price of a long-lived asset or asset group; a significant adverse change in the extent or manner in which a long-lived asset or asset group is being used or in its physical condition; a significant adverse change in legal factors or in the business climate that could affect the value of a long-lived asset or asset group, including an adverse action or assessment by a regulator; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset or asset group; a current-period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group; a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. The term more likely than not refers to a level of likelihood that is more than 50%.
Asset retirement obligations	Asset retirement obligations The Company records a liability based on the best estimate of costs for site closure and reclamation activities that the Company is legally or contractually required to remediate. The provision for closure and reclamation liabilities is estimated using expected cash flows based on engineering and environmental reports and accreted to full value over time through periodic charges to income. The Company does not have any material provisions for environmental rehabilitation as of December 31, 2015.
Derivatives	Derivatives Derivative financial liabilities include the Company’s future contingent mineral property payment valued using estimated future gold prices. Derivatives are initially recognized at their fair value on the date the derivative contract is entered into and are subsequently re-measured at their fair value at each reporting period with changes in the fair value recognized in the statement of operations.
Income taxes	Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or the entire deferred tax asset will not be recognized.
Net loss per share	Net loss per share Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or contracts that may require the issuance of common shares in the future were converted, unless the impact is anti-dilutive.
Stock-based compensation	Stock-based compensation The Company follows the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Section 718 “Compensation - Stock Compensation”, which establishes accounting for equity based compensation awards to be accounted for using the fair value method. The Company uses the Black-Scholes option pricing model to determine the grant date fair value of the awards. Compensation expense is measured at the grant date and recognized over the requisite service period, which is generally the vesting period.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2014, the FASB issued Accounting Standards Update 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC 718, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2014-12 is not expected to have a material impact on our financial position, results of operations or cash flows. In August 2015, the FASB issued Accounting Standards Update 2014-15, Presentation of Financial Statements – Going Concern (Topic 205-40): Disclosures Related to Uncertainties About Going Concern (“ASU 2014-15”). ASU 2014-15 provides guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosure. The new standard incorporates some of the principles of the current auditing standards and builds upon them, as follows: • Requires an assessment each annual and interim reporting period. • Defines substantial doubt. • Sets a look-forward period of one year from the financial statement issuance date. • Requires disclosures even when an initially-identified substantial doubt is alleviated by management's plans. The amendments in ASU 2014-15 are effective for years ending after December 15, 2016 and for years and interim periods thereafter. Early adoption of this standard is permitted but the Company has not yet adopted the standard. The Company is currently assessing the impact of adoption but expects the impact to be minimal.

FAIR VALUE OF FINANCIAL INSTR19

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair value as at December 31, 2015 Level 1 Level 2 Financial assets: Marketable securities $ 11,741 $ - $ 11,741 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 13,900,000 $ - $ 13,900,000 Fair value as at December 31, 2014 Level 1 Level 2 Financial assets: Marketable securities $ 26,894 $ - $ 26,894 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 14,700,000 $ - $ 14,700,000

CAPITALIZED ACQUISITION COSTS (

CAPITALIZED ACQUISITION COSTS (Tables)	12 Months Ended
	Dec. 31, 2015
Mineral Industries Disclosures [Abstract]
Capitalized Acquisition Costs Mineral Properties [Table Text Block]	The Company had the following activity related to capitalized acquisition costs: Capitalized acquisition costs Amount Balance, December 31, 2013 $ 55,173,564 Additions 30,477 Balance, December 31, 2014 $ 55,204,041 Additions - Balance, December 31, 2015 $ 55,204,041
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]	The following table presents costs incurred for exploration and evaluation activities for the years ended December 31, 2015 and 2014: Year ended Year ended Exploration costs: Aircraft services $ 4,185 $ 10,286 Assay 9,984 8,163 Drilling - 119,036 Environmental 639,172 1,201,642 Equipment rental 44,514 52,709 Field costs 186,661 211,848 Geological/geophysical 945,390 70,388 Land maintenance & tenure 501,321 530,543 Legal 21,887 367,556 Surveying and mapping - 26,503 Transportation and travel 28,754 33,300 Total expenditures for the year $ 2,381,868 $ 2,631,974

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	The following table presents the accrued liabilities balances at December 31, 2015 and 2014. December 31, December 31, Accrued liabilities $ 247,034 $ 334,423 Accrued severance 19,900 390,659 Accrued salaries and benefits 127,502 153,600 Total accrued liabilities $ 394,436 $ 878,682

DERIVATIVE LIABILITY (Tables)

DERIVATIVE LIABILITY (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value [Table Text Block]	The fair value of the derivative liability and the estimated Average Gold Price are as follows: Fair value Average Gold Derivative value at December 31, 2013 $ 14,800,000 $ 1,360 Unrealized gain for the year (100,000) Derivative value at December 31, 2014 14,700,000 $ 1,356 Unrealized gain for the year (800,000) Derivative value at December 31, 2015 $ 13,900,000 $ 1,320

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	A reconciliation of income taxes at statutory rates with the reported taxes is as follows for the years ended December 31, 2015 and 2014: December 31, December 31, Loss before income taxes $ (4,812,824) $ (7,767,096) Statutory Canadian corporate tax rate 25.00 % 25.00 % Income tax recovery at statutory rates $ (1,203,207) $ (1,941,774) Share-based payments 135,117 321,346 Unrecognized items for tax purposes (172,870) (5,383) Difference in tax rates in other jurisdictions (756,235) (1,072,910) Change in valuation allowance 1,997,195 2,698,721 Income tax recovery $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The significant components of the Company’s deferred income tax assets and liabilities are as follows: December 31, December 31, Deferred income tax assets (liabilities): Mineral properties $ 57,243,323 $ 57,243,322 Derivative liability (1,996,400) (1,822,800) Donations 92,160 - Other 55,349 62,329 Share issue costs 31,438 148,685 Non-capital losses available for future periods 33,462,392 31,229,931 88,888,262 86,861,467 Valuation allowance (88,888,262) (86,861,467) Deferred income tax asset $ - $ -
Summary of Operating Loss Carryforwards [Table Text Block]	At December 31, 2015, the Company has available net operating losses for Canadian income tax purposes of approximately $ 17,942,000 66,767,000 Canada United States 2025 $ 65,000 $ - 2026 78,000 - 2027 907,000 1,252,000 2028 1,253,000 1,350,000 2029 2,074,000 2,600,000 2030 2,829,000 5,691,000 2031 4,180,000 14,730,000 2032 2,629,000 18,371,000 2033 1,827,000 11,962,000 2034 1,694,000 5,901,000 2035 406,000 4,910,000 17,942,000 66,767,000

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of the stock option plan as of December 31, 2015 and 2014 and changes during the periods is presented below: Year Ended Year Ended December 31, 2015 December 31, 2014 Number of Weighted Number of Weighted Balance, beginning of the year 5,854,000 $ 2.68 5,493,000 $ 3.57 Granted 2,135,200 $ 0.80 2,480,000 $ 1.00 Expired - $ - - $ - Forfeited - $ - (600,000) $ 3.17 Cancelled (1,923,000) $ 4.01 (1,519,000) $ 2.97 Balance, end of the year 6,066,200 $ 1.60 5,854,000 $ 2.68
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Stock options outstanding are as follows: December 31, 2015 December 31, 2014 Expiry Date Exercise Number of Exercisable Exercise Number of Exercisable August 23, 2016 $ - - - $ 8.07 600,000 600,000 January 9, 2017 $ - - - $ 4.60 30,000 30,000 August 24, 2017 $ 3.17 1,675,000 1,675,000 $ 3.17 2,275,000 2,275,000 March 14, 2018 $ 2.18 319,000 319,000 $ 2.18 469,000 312,660 February 25, 2022 $ 1.11 1,030,000 686,666 $ 1.11 1,360,000 453,333 February 25, 2022 $ 0.73 594,000 396,000 $ 0.73 690,000 230,000 March 10, 2022 $ 1.11 430,000 286,666 $ 1.11 430,000 143,333 March 16, 2023 $ 1.00 1,260,000 419,999 $ - - - March 16, 2023 $ 0.50 728,200 242,733 $ - - - June 9, 2023 $ 1.00 30,000 10,000 $ - - - 6,066,200 4,036,064 5,854,000 4,044,326
Schedule of Nonvested Share Activity [Table Text Block]	A summary of the non-vested options as of December 31, 2015 and 2014 and changes during the fiscal years ended December 31, 2015 and 2014 is as follows: Non-vested options: Number of options Weighted average Outstanding at December 31, 2013 1,802,017 $ 1.38 Granted 2,480,000 $ 0.49 Vested (2,272,342) $ 1.10 Forfeited (200,001) $ 1.61 Outstanding at December 31, 2014 1,809,674 $ 0.49 Granted 2,135,200 $ 0.25 Vested (1,914,738) $ 0.39 Outstanding at December 31, 2015 2,030,136 $ 0.34
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following weighted average assumptions were used for the Black-Scholes option pricing model calculations: Year ended Year ended Expected life of options 6 years 6 years Risk-free interest rate 0.97 % 1.83 % Expected volatility 80.60 % 81.02 % Dividend rate 0.00 % 0.00 % Exercise price (C$) $ 0.80 $ 1.00

SEGMENT AND GEOGRAPHIC INFORM25

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Canada United States Total December 31, 2015 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 9,563 20,520 30,083 Current assets 6,106,135 579,577 6,685,712 Total assets $ 6,115,698 $ 55,804,138 $ 61,919,836 December 31, 2014 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 10,477 26,651 37,128 Current assets 13,003,412 760,119 13,763,531 Total assets $ 13,013,889 $ 55,990,811 $ 69,004,700 Year ended Year ended Year ended Net loss for the year - Canada $ (702,851) $ (1,936,065) $ (4,216,835) Net loss for the year - United States (4,109,973) (5,831,031) (5,635,645) Net loss for the year $ (4,812,824) $ (7,767,096) $ (9,852,480)

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	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 2016 2017 2018 2019 2020 2021 and Total Livengood Property Purchase (1) $ - $ 13,900,000 $ - $ - $ - $ - $ 13,900,000 Mineral Property Leases (2) 381,872 421,850 426,903 432,032 442,237 447,521 2,552,415 Mining Claim Government Fees 114,445 114,445 114,445 114,445 114,445 114,445 686,670 Total $ 496,317 $ 14,436,295 $ 541,348 $ 546,477 $ 556,682 $ 561,966 $ 17,139,085 1. The amount payable in January 2017 of $ 13,900,000 2. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which 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, NATURE O27

GENERAL INFORMATION, NATURE OF OPERATIONS AND LIQUIDITY RISK (Details Textual)	Dec. 31, 2015USD ($)
General Information Nature And Continuance Of Operations [Line Items]
Business Combination, Contingent Consideration, Liability	$ 13,900,000
Livengood Property [Member]
General Information Nature And Continuance Of Operations [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Property, Plant and Equipment [Line Items]
Impairment Of Capitalized Acquisition Costs	$ 0
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	30% declining balance
Software and Software Development Costs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	3 years straight line
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	20% declining balance
Leaseholds and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciation Methods	straight-line over the lease term

FAIR VALUE OF FINANCIAL INSTR29

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Marketable securities	$ 11,741	$ 26,894
Total	11,741	26,894
Financial liabilities:
Derivative liability (note 6)	0	0
Total	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Marketable securities	0	0
Total	0	0
Financial liabilities:
Derivative liability (note 6)	13,900,000	14,700,000
Total	$ 13,900,000	$ 14,700,000

CAPITALIZED ACQUISITION COSTS30

CAPITALIZED ACQUISITION COSTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Balance, at the beginning of the period	$ 55,204,041	$ 55,173,564
Additions	0	30,477
Balance, at the end of the period	$ 55,204,041	$ 55,204,041

CAPITALIZED ACQUISITION COSTS31

CAPITALIZED ACQUISITION COSTS (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Exploration costs:
Aircraft services	$ 4,185	$ 10,286
Assay	9,984	8,163
Drilling	0	119,036
Environmental	639,172	1,201,642
Equipment rental	44,514	52,709
Field costs	186,661	211,848
Geological/geophysical	945,390	70,388
Land maintenance & tenure	501,321	530,543
Legal	21,887	367,556
Surveying and mapping	0	26,503
Transportation and travel	28,754	33,300
Total expenditures for the year	$ 2,381,868	$ 2,631,974

CAPITALIZED ACQUISITION COSTS32

CAPITALIZED ACQUISITION COSTS (Details Textual)	3 Months Ended	12 Months Ended
	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)shares	Dec. 31, 2015CADshares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 11, 2014	Jul. 26, 2007
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares		5,997,295	5,997,295
Business Combination Equity Interest Percentage In Entity By Acquired Entity		19.99%
Proceeds from Issuance of Common Stock	$ 7,315,917	$ 0	CAD 11,479,348	$ 7,315,917	$ 0
Business Combination Right Of First Offer Period		90 days	90 days
Business Combination Equity Interest Falling Below Specific Percentage After Specific Date Resulting In Termination Of Right To Maintain Equity Interest Percentage On Ongoing Basis							10.00%
Business Combination Equity Interest Falling Below Specific Percentage Resulting In Termination Of Right Of First Offer						10.00%	10.00%
Lessor Leasing Arrangements, Operating Leases, Renewal Term		19 years	19 years
Federal Unpatented Lode Mining Claims [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Mining Properties Lease Operating Expense		$ 50,000
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Lessor Leasing Arrangements, Operating Leases, Term of Contract		19 years	19 years
Mining Properties Lease Operating Expense		$ 1,975,890
Minimum Royalty Payment Percentage		125.00%	125.00%
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]
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]
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]
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]
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]
Mining Properties Lease Operating Expense		$ 580,000
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]
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]
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
Balance Portion Of Payments To Acquire Royalty Interests In Mining Properties Payable By Way Of Net Smelter Return		500,000
Payments for Royalties		1,000,000
Mining Properties Lease Operating Expense		$ 145,000
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%
Royalty Percentage		3.00%
Livengood Property [Member] | Patented Lode Claims [Member] | Minimum [Member] | Advance Royalties [Member] | On or Befor 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]
Advance Royalties		15,000
Payments for Royalties		1,000,000
Mining Properties Lease Operating Expense		98,000
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
Royalty Percentage		2.00%
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	120 days

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Line Items]
Accrued liabilities	$ 247,034	$ 334,423
Accrued severance	19,900	390,659
Accrued salaries and benefits	127,502	153,600
Total accrued liabilities	$ 394,436	$ 878,682

ACCRUED LIABILITIES (Details Te

ACCRUED LIABILITIES (Details Textual) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities [Line Items]
Accrued General Corporate Cost Current	$ 27,535	$ 74,413
Accrued Project Cost Current	$ 219,499	$ 260,010

DERIVATIVE LIABILITY (Details)

DERIVATIVE LIABILITY (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / Ounce-oz	Dec. 31, 2014USD ($)$ / Ounce-oz	Dec. 31, 2013USD ($)$ / Ounce-oz
Derivatives, Fair Value [Line Items]
Derivative value at beginning of the period	$ 14,700,000	$ 14,800,000
Unrealized gain for the year	(800,000)	(100,000)	$ (7,600,000)
Derivative value at end of the period	$ 13,900,000	$ 14,700,000	$ 14,800,000
Average Gold Price at beginning of the period (in dollars per ounce of gold) | $ / Ounce-oz	1,356	1,360
Average Gold Price at end of the period (in dollars per ounce of gold) | $ / Ounce-oz	1,320	1,356	1,360

DERIVATIVE LIABILITY (Details T

DERIVATIVE LIABILITY (Details Textual)	12 Months Ended
	Dec. 31, 2015USD ($)$ / Ounce-oz	Dec. 31, 2014$ / Ounce-oz	Dec. 31, 2013$ / Ounce-oz	Dec. 31, 2011USD ($)	Dec. 13, 2011USD ($)
Derivative [Line Items]
Basis period of average gold price per ounce of gold is considered for calculating additional payment	5 years
Derivative Liability Value On Initial Recognition					$ 23,100,000
Forward Curve Assumption Based Estimated Average Gold Price Per Ounce Of Gold | $ / Ounce-oz	1,320	1,356	1,360
Livengood Gold Project, Alaska
Derivative [Line Items]
Aggregate Consideration For The Claims And Rights				$ 13,500,000
Additional Payment	$ 23,148
Average Gold Price For The Determine Additional Payment	720
Additional contingent payment, if the average Gold Price is less than specified price per troy ounce	$ 720

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of income taxes at statutory rates with the reported taxes
Loss before income taxes	$ (4,812,824)	$ (7,767,096)
Statutory Canadian corporate tax rate	25.00%	25.00%
Income tax recovery at statutory rates	$ (1,203,207)	$ (1,941,774)
Share-based payments	135,117	321,346
Unrecognized items for tax purposes	(172,870)	(5,383)
Difference in tax rates in other jurisdictions	(756,235)	(1,072,910)
Change in valuation allowance	1,997,195	2,698,721
Income tax recovery	0	0
Deferred income tax assets (liabilities):
Mineral properties	57,243,323	57,243,322
Derivative liability	(1,996,400)	(1,822,800)
Donations	92,160	0
Other	55,349	62,329
Share issue costs	31,438	148,685
Non-capital losses available for future periods	33,462,392	31,229,931
Deferred income tax asset before valuation	88,888,262	86,861,467
Valuation allowance	(88,888,262)	(86,861,467)
Deferred income tax asset	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	Dec. 31, 2015USD ($)
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 17,942,000
Mineral Resources Expenditure Pools Carry forwards	66,767,000
Canada
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	17,942,000
Mineral Resources Expenditure Pools Carry forwards	2,628,000
Canada | 2025
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	65,000
Canada | 2026
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	78,000
Canada | 2027
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	907,000
Canada | 2028
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,253,000
Canada | 2029
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,074,000
Canada | 2030
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,829,000
Canada | 2031
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	4,180,000
Canada | 2032
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,629,000
Canada | 2033
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,827,000
Canada | 2034
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,694,000
Canada | 2035
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	406,000
United States
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	66,767,000
Mineral Resources Expenditure Pools Carry forwards	185,999,000
United States | 2025
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	0
United States | 2026
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	0
United States | 2027
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,252,000
United States | 2028
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	1,350,000
United States | 2029
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	2,600,000
United States | 2030
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	5,691,000
United States | 2031
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	14,730,000
United States | 2032
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	18,371,000
United States | 2033
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	11,962,000
United States | 2034
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	5,901,000
United States | 2035
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 4,910,000

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) - CAD / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number of Options
Balance, beginning of the year (in shares)	5,854,000	5,493,000
Granted (in shares)	2,135,200	2,480,000
Expired (in shares)	0	0
Forfeited (in shares)	0	(600,000)
Cancelled (in shares)	(1,923,000)	(1,519,000)
Balance, end of the year (in shares)	6,066,200	5,854,000
Weighted Average Excercise Price
Balance, beginning of the year (in Canadian dollars per share)	CAD 2.68	CAD 3.57
Granted (in Canadian dollars per share)	0.8	1
Expired (in Canadian dollars per share)	0	0
Forfeited (in Canadian dollars per share)	0	3.17
Cancelled (in Canadian dollars per share)	4.01	2.97
Balance, end of the year (in Canadian dollars per share)	CAD 1.6	CAD 2.68

SHARE CAPITAL (Details 1)

SHARE CAPITAL (Details 1) - CAD / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options (in shares)	6,066,200	5,854,000
Exercisable (in shares)	4,036,064	4,044,326
Exercise Price Aug 23,2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 0	CAD 8.07
Number of Options (in shares)	0	600,000
Exercisable (in shares)	0	600,000
Expiry Date	Aug. 23, 2016
Exercise Price January 9, 2017
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 0	CAD 4.6
Number of Options (in shares)	0	30,000
Exercisable (in shares)	0	30,000
Expiry Date	Jan. 9, 2017
Exercise Price August 24,2017
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 3.17	CAD 3.17
Number of Options (in shares)	1,675,000	2,275,000
Exercisable (in shares)	1,675,000	2,275,000
Expiry Date	Aug. 24, 2017
Exercise Price March 14,2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 2.18	CAD 2.18
Number of Options (in shares)	319,000	469,000
Exercisable (in shares)	319,000	312,660
Expiry Date	Mar. 14, 2018
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)	CAD 1.11	CAD 1.11
Number of Options (in shares)	1,030,000	1,360,000
Exercisable (in shares)	686,666	453,333
Expiry Date	Feb. 25, 2022
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)	CAD 0.73	CAD 0.73
Number of Options (in shares)	594,000	690,000
Exercisable (in shares)	396,000	230,000
Expiry Date	Feb. 25, 2022
Exercise Price March 10, 2022
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 1.11	CAD 1.11
Number of Options (in shares)	430,000	430,000
Exercisable (in shares)	286,666	143,333
Expiry Date	Mar. 10, 2022
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)	CAD 1	CAD 0
Number of Options (in shares)	1,260,000	0
Exercisable (in shares)	419,999	0
Expiry Date	Mar. 16, 2023
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)	CAD 0.5	CAD 0
Number of Options (in shares)	728,200	0
Exercisable (in shares)	242,733	0
Expiry Date	Mar. 16, 2023
Exercise Price June 9, 2023
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price (in Canadian dollars per share)	CAD 1	CAD 0
Number of Options (in shares)	30,000	0
Exercisable (in shares)	10,000	0
Expiry Date	Jun. 9, 2023

SHARE CAPITAL (Details 2)

SHARE CAPITAL (Details 2) - CAD / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Number of options
Outstanding at December 31, 2013	1,809,674	1,802,017
Granted	2,135,200	2,480,000
Vested	(1,914,738)	(2,272,342)
Forfeited		(200,001)
Outstanding at December 31, 2015	2,030,136	1,809,674
Weighted average grant-date fair value
Outstanding at December 31, 2013	CAD 0.49	CAD 1.38
Granted	0.25	0.49
Vested	0.39	1.10
Forfeited		1.61
Outstanding at December 31, 2015	CAD 0.34	CAD 0.49

SHARE CAPITAL (Details 3)

SHARE CAPITAL (Details 3) - CAD / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life of options	6 years	6 years
Risk-free interest rate	0.97%	1.83%
Expected volatility	80.60%	81.02%
Dividend rate	0.00%	0.00%
Exercise price (C$)	CAD 0.8	CAD 1

SHARE CAPITAL (Details Textual)

SHARE CAPITAL (Details Textual)	3 Months Ended	12 Months Ended
	Dec. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2015CADshares	Dec. 31, 2014USD ($)shares	Dec. 31, 2013USD ($)	Dec. 31, 2014CAD / sharesshares
Stockholders Equity [Line Items]
Common Stock, Shares Authorized			500,000,000			500,000,000
Common Stock, Shares, Issued			116,313,638			116,313,638
Common Stock, Shares, Outstanding			116,313,638			116,313,638
Stock Issued During Period, Shares, New Issues	18,245,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		2,135,200	2,135,200	2,480,000
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Authorized			10.00%
Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Fair Value | CAD			CAD 540,101
Allocated Share-based Compensation Expense | $		$ 540,468		$ 1,285,385	$ 3,564,273
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | CAD			CAD 164,678
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		9 months 25 days	9 months 25 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		5 years 1 month 6 days	5 years 1 month 6 days
Share Price | CAD / shares						CAD 0.46
Proceeds from Issuance of Common Stock	$ 7,315,917	$ 0	CAD 11,479,348	7,315,917	0
Payments of Stock Issuance Costs | $	$ 24,828	$ 0		$ 24,828	$ 0
Equity Option [Member]
Stockholders Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		2,135,200	2,135,200

SEGMENT AND GEOGRAPHIC INFORM44

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Capitalized acquisition costs	$ 55,204,041	$ 55,204,041
Property and equipment	30,083	37,128
Current assets	6,685,712	13,763,531
Total assets	61,919,836	69,004,700
Net gain/(loss) for the period	(4,812,824)	(7,767,096)	$ (9,852,480)
CANADA
Segment Reporting Information [Line Items]
Capitalized acquisition costs	0	0
Property and equipment	9,563	10,477
Current assets	6,106,135	13,003,412
Total assets	6,115,698	13,013,889
Net gain/(loss) for the period	(702,851)	(1,936,065)	(4,216,835)
UNITED STATES
Segment Reporting Information [Line Items]
Capitalized acquisition costs	55,204,041	55,204,041
Property and equipment	20,520	26,651
Current assets	579,577	760,119
Total assets	55,804,138	55,990,811
Net gain/(loss) for the period	$ (4,109,973)	$ (5,831,031)	$ (5,635,645)

COMMITMENTS (Details)

COMMITMENTS (Details)	Dec. 31, 2015USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
2,016	$ 496,317
2,017	14,436,295
2,018	541,348
2,019	546,477
2,020	556,682
2021 and beyond	561,966
Total	17,139,085
Livengood Property Purchase Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2,016	0	[1]
2,017	13,900,000	[1]
2,018	0	[1]
2,019	0	[1]
2,020	0	[1]
2021 and beyond	0	[1]
Total	13,900,000	[1]
Mineral Property Leases Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2,016	381,872	[2]
2,017	421,850	[2]
2,018	426,903	[2]
2,019	432,032	[2]
2,020	442,237	[2]
2021 and beyond	447,521	[2]
Total	2,552,415	[2]
Mining Claim Government Fees Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2,016	114,445
2,017	114,445
2,018	114,445
2,019	114,445
2,020	114,445
2021 and beyond	114,445
Total	$ 686,670
[1]	The amount payable in January 2017 of $13,900,000 represents the fair value of the Company’s derivative liability as at December 31, 2015 and will be revalued at each subsequent reporting period. See Note 6.
[2]	Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which 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.

COMMITMENTS (Details Textual)

COMMITMENTS (Details Textual)	Dec. 31, 2015USD ($)
Livengood Property Purchase Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
Fair value of derivative liability	$ 13,900,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual)	1 Months Ended	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2015
AN Gold Mines [Member]
Related Party Transaction [Line Items]
Payment Due To Related Party Percent	70.00%
Percentage of interest owned		11.90%
Heflinger Group [Member]
Related Party Transaction [Line Items]
Payment Due To Related Party Percent	30.00%