International Tower Hill Mines (THM) 10-Q 6 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	INTERNATIONAL TOWER HILL MINES LTD
Entity Central Index Key	1,134,115
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	THM
Entity Common Stock, Shares Outstanding		162,392,996

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current
Cash and cash equivalents	$ 3,435,287	$ 22,466,493
Prepaid expenses and other	226,025	206,221
Total current assets	3,661,312	22,672,714
Property and equipment	21,797	24,800
Capitalized acquisition costs	55,204,041	55,204,041
Total assets	58,887,150	77,901,555
Current liabilities
Accounts payable	74,014	179,496
Accrued liabilities	577,779	210,182
Derivative liability	0	14,694,169
Total liabilities	651,793	15,083,847
Shareholders’ equity
Common share, no par value; authorized 500,000,000 shares; 162,186,972 shares issued and outstanding at December 31, 2016 and 162,392,996 shares issued and outstanding at September 30, 2017	265,624,141	265,569,796
Contributed surplus	34,092,428	34,079,301
Accumulated other comprehensive income	1,745,532	1,344,219
Deficit	(243,226,744)	(238,175,608)
Total shareholders’ equity	58,235,357	62,817,708
Total liabilities and shareholders’ equity	$ 58,887,150	$ 77,901,555

CONDENSED CONSOLIDATED INTERIM3

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	162,392,996	162,186,972
Common Stock, Shares, Outstanding	162,392,996	162,186,972

CONDENSED CONSOLIDATED INTERIM4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating expenses
Consulting fees	$ 70,614	$ 63,973	$ 217,389	$ 200,660
Depreciation	1,006	1,323	3,003	3,963
Insurance	74,134	69,326	208,867	200,532
Investor relations	9,504	27,119	72,752	76,506
Mineral property exploration	867,900	528,117	2,247,405	2,504,284
Office	6,338	9,546	27,487	30,005
Other	4,577	4,487	14,525	14,508
Professional fees	58,227	63,057	173,345	155,007
Regulatory	55,963	50,307	130,659	108,281
Rent	34,985	35,374	105,779	106,109
Travel	27,560	42,702	75,291	81,350
Wages and benefits	406,395	537,872	1,442,379	1,630,035
Total operating expenses	(1,617,203)	(1,433,203)	(4,718,881)	(5,111,240)
Other income (expenses)
Loss on foreign exchange	(133,815)	(3,020)	(377,940)	(124,784)
Interest income	5,505	3,534	23,485	15,689
Unrealized loss on derivative	0	(100,000)	0	(900,000)
Other income	0	8,100	22,200	39,440
Total other income (expenses)	(128,310)	(91,386)	(332,255)	(969,655)
Net loss for the period	(1,745,513)	(1,524,589)	(5,051,136)	(6,080,895)
Other comprehensive income (loss)
Unrealized loss on marketable securities	(1,587)	(13,210)	(5,972)	(2,459)
Exchange difference on translating foreign operations	150,967	38,852	407,285	335,110
Total other comprehensive income (loss) for the period	149,380	25,642	401,313	332,651
Comprehensive loss for the period	$ (1,596,133)	$ (1,498,947)	$ (4,649,823)	$ (5,748,244)
Basic and diluted loss per share	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.05)
Weighted average number of shares outstanding - basic and diluted	162,363,884	116,348,855	162,246,591	116,325,463

CONDENSED CONSOLIDATED INTERIM5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income [Member]	Retained Earnings [Member]
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
Stock-based compensation	92,587	$ 0	92,587	0	0
Unrealized loss on available-for-sale securities	(2,459)	0	0	(2,459)	0
Exchange difference on translating foreign operations	335,110	0	0	335,110	0
Exercise of options	15,404	$ 15,404	0	0	0
Exercise of options (in shares)		40,000
Reallocation from contributed surplus	0	$ 8,942	(8,942)	0	0
Net loss	(6,080,895)	0	0	0	(6,080,895)
Balance at Sep. 30, 2016	41,863,104	$ 243,716,531	34,063,362	1,149,086	(237,065,875)
Balance (in shares) at Sep. 30, 2016		116,353,638
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
Balance at Dec. 31, 2016	62,817,708	$ 265,569,796	34,079,301	1,344,219	(238,175,608)
Balance (in shares) at Dec. 31, 2016		162,186,972
Balance at Sep. 30, 2016	41,863,104	$ 243,716,531	34,063,362	1,149,086	(237,065,875)
Balance (in shares) at Sep. 30, 2016		116,353,638
Private placement	22,000,000	$ 22,000,000	0	0	0
Private placement (in shares)		45,833,334
Share issuance costs	(146,735)	$ (146,735)	0	0	0
Stock-based compensation	15,939	0	15,939	0	0
Unrealized loss on available-for-sale securities	(8,335)	0	0	(8,335)	0
Exchange difference on translating foreign operations	203,468	0	0	203,468	0
Net loss	(1,109,733)	0	0	0	(1,109,733)
Balance at Dec. 31, 2016	62,817,708	$ 265,569,796	34,079,301	1,344,219	(238,175,608)
Balance (in shares) at Dec. 31, 2016		162,186,972
Shares for services	99,492	$ 99,492	0	0	0
Shares for services (in shares)		206,024
Share issuance costs	(45,147)	$ (45,147)	0	0	0
Stock-based compensation	13,127	0	13,127	0	0
Unrealized loss on available-for-sale securities	(5,972)	0	0	(5,972)	0
Exchange difference on translating foreign operations	407,285	0	0	407,285	0
Net loss	(5,051,136)	0	0	0	(5,051,136)
Balance at Sep. 30, 2017	$ 58,235,357	$ 265,624,141	$ 34,092,428	$ 1,745,532	$ (243,226,744)
Balance (in shares) at Sep. 30, 2017		162,392,996

CONDENSED CONSOLIDATED INTERIM6

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Loss for the period	$ (5,051,136)	$ (6,080,895)
Add items not affecting cash:
Depreciation	3,003	3,963
Stock-based compensation	13,127	92,587
Unrealized loss on derivative liability	0	900,000
Shares for services	99,492	0
Changes in non-cash items:
Prepaid expenses and other	(372,217)	18,951
Accounts payable and accrued liabilities	254,670	24,284
Cash used in operating activities	(5,053,061)	(5,041,110)
Financing Activities
Issuance of common share	0	15,404
Derivative payment	(14,694,169)	0
Share issuance costs	(45,147)	0
Cash provided by (used in) financing activities	(14,739,316)	15,404
Effect of foreign exchange on cash	761,171	291,343
Decrease in cash and cash equivalents	(19,031,206)	(4,734,363)
Cash and cash equivalents, beginning of the period	22,466,493	6,493,486
Cash and cash equivalents, end of the period	$ 3,435,287	$ 1,759,123

GENERAL INFORMATION AND NATURE

GENERAL INFORMATION AND NATURE OF OPERATIONS	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	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), 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 September 30, 2017, the Company was in the exploration stage and controls a 100% interest in its Livengood Gold 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 September 30, 2017, the Company had cash and cash equivalents of $ 3,435,287 22,466,493 14,694,169 The Company will require significant additional financing to continue its operations in connection with advancing activities at the Livengood Gold Project and for the development of any mine that may be determined to be built at the Livengood Gold Project. 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 2017 fiscal year.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	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, 2016 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 September 30, 2017 and the results of its operations for the nine months then ended. Operating results for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. The 2016 year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. 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 November 3, 2017, 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, LPI and 813034 Alberta Ltd. All intercompany transactions and balances have been eliminated.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts receivable (included in prepaid expenses and other) 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 September 30, 2017 Level 1 Level 2 Financial assets: Marketable securities $ 18,230 $ - Total $ 18,230 $ - Fair value as at December 31, 2016 Level 1 Level 2 Financial assets: Marketable securities $ 22,754 $ - Total $ 22,754 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 14,694,169 Total $ - $ 14,694,169

CAPITALIZED ACQUISITION COSTS

CAPITALIZED ACQUISITION COSTS	9 Months Ended
	Sep. 30, 2017
Mineral Industries Disclosures [Abstract]
Mineral Industries Disclosures [Text Block]	4. CAPITALIZED ACQUISITION COSTS Capitalized acquisition costs Amount Balance, December 31, 2016 $ 55,204,041 Acquisition costs - Balance, September 30, 2017 $ 55,204,041 September 30, September 30, 2017 2016 Exploration costs: Aircraft services $ 6,220 $ 6,511 Assay 412,811 - Environmental 203,344 233,398 Equipment rental 35,542 33,375 Field costs 91,569 87,754 Geological/geophysical 932,642 1,613,994 Land maintenance & tenure 496,910 494,316 Legal 57,246 27,845 Transportation and travel 11,121 7,091 Total expenditures for the period $ 2,247,405 $ 2,504,284 Livengood Gold Project Property The Livengood property is located in the Tintina gold belt approximately 113 kilometers (70 miles) 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 19 125 19 2.5 5.0 0.5 1.0 329,722 2,632,388 b) a lease of federal unpatented lode mining claims having an initial term of ten years commencing on April 21, 2003 50,000 2 1 1,000,000 50,000 680,000 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 25,000 3 1,000,000 500,000 500,000 3 20,000 185,000 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 $ 15,000 250,000 125,000 125,000 1,000,000 15,000 128,000 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	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	ACCRUED LIABILITIES September 30, December 31, 2017 2016 Accrued liabilities $ 520,355 $ 41,682 Accrued salaries and benefits 57,424 168,500 Total accrued liabilities $ 577,779 $ 210,182 Accrued liabilities at September 30, 2017 include accruals for general corporate costs and project costs of $ 33,803 486,552 13,406 28,276

DERIVATIVE LIABILITY

DERIVATIVE LIABILITY	9 Months Ended
	Sep. 30, 2017
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 23,148 720 720 At initial recognition on December 13, 2011 the derivative liability was valued at $ 23,100,000 14,694,169 14,694,169

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7. SHARE CAPITAL Authorized 500,000,000 Share issuances On May 24, 2017, the shareholders approved the issuance of Common Shares to the previous CEO for services rendered as CEO. On May 24, 2017, the Company recorded an obligation to issue 206,024 99,492 133,916 206,024 On December 28, 2016, the Company closed a non-brokered private placement financing of 45,833,334 0.48 22,000,000 Deferred Share Unit Incentive Plan On May 24, 2017 at the Company’s Annual General Meeting of Shareholders, a Deferred Share Unit Incentive Plan (“DSU Plan”) was approved. As at September 30, 2017, the maximum aggregate number of Common Shares that could be issued under the DSU Plan and the 2006 Plan (as defined below) was 16,239,299 10 4,290,000 2.64 11,949,299 7.36 Stock options The Company adopted an incentive stock option plan in 2006, as amended September 19, 2012 and reapproved 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, together with shares under the DSU Plan, may not exceed 10 During the nine month period ended September 30, 2017, there were no incentive stock options granted by the Company. Nine Months Ended Year Ended September 30, 2017 December 31, 2016 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Intrinsic Number of Exercise Intrinsic Options Price (C$) Value Options Price (C$) Value Balance, beginning of the period 6,026,200 $ 1.61 $ 183,930 6,066,200 $ 1.60 $ Nil Exercised - - - (40,000) 0.50 29,600 Expired (1,650,000) 3.17 Nil - - - Forfeited (86,200) 1.46 4,368 - - - Balance, end of the period 4,290,000 $ 1.01 $ 131,400 6,026,200 $ 1.61 $ 183,930 September 30, 2017 December 31, 2016 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable August 24, 2017 - - - $ 3.17 1,675,000 1,675,000 March 14, 2018 $ 2.18 313,000 313,000 $ 2.18 319,000 319,000 February 25, 2022 $ 1.11 1,030,000 1,030,000 $ 1.11 1,030,000 1,030,000 February 25, 2022 $ 0.73 570,000 570,000 $ 0.73 594,000 594,000 March 10, 2022 $ 1.11 430,000 430,000 $ 1.11 430,000 430,000 March 16, 2023 $ 1.00 1,260,000 1,260,000 $ 1.00 1,260,000 839,999 March 16, 2023 $ 0.50 657,000 657,000 $ 0.50 688,200 445,466 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 20,000 4,290,000 4,290,000 6,026,200 5,353,465 Weighted average grant- Number of date fair value Non-vested options: options (C$) Outstanding at December 31, 2016 672,735 $ 0.25 Vested (672,735) $ 0.25 Outstanding at September 30, 2017 - - At September 30, 2017 there was no unrecognized compensation expense related to non-vested options outstanding. Share-based payments During the nine month period ended September 30, 2017, there were no incentive stock options granted by the Company. Share-based payment charges for the nine months ended September 30, 2017 totaled $ 13,127 During the nine month period ended September 30, 2016, there were no incentive stock options granted by the Company. Share-based payment charges for the nine months ended September 30, 2016 totaled $ 92,587 YTD December 31, 2015 Expected life of options 6 years Risk-free interest rate 0.97 % Annualized volatility 80.60 % Dividend rate 0.00 % Exercise price (C$) $ 0.80 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	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	8. SEGMENT AND GEOGRAPHIC INFORMATION Canada United States Total September 30, 2017 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 8,614 13,183 21,797 Current assets 3,136,666 524,646 3,661,312 Total assets $ 3,145,280 $ 55,741,870 $ 58,887,150 December 31, 2016 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 8,944 15,856 24,800 Current assets 22,289,678 383,036 22,672,714 Total assets $ 22,298,622 $ 55,602,933 $ 77,901,555 Three months ended September 30, 2017 September 30, 2016 Net loss for the period – Canada $ (385,257) $ (276,954) Net loss for the period - United States (1,360,256) (1,247,635) Net loss for the period $ (1,745,513) $ (1,524,589) Nine months ended September 30, 2017 September 30, 2016 Net loss for the period – Canada $ (1,148,244) $ (915,561) Net loss for the period - United States (3,902,892) (5,165,334) Net loss for the period $ (5,051,136) $ (6,080,895)

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	9. COMMITMENTS The following table discloses, as of September 30, 2017, the Company’s contractual obligations including anticipated mineral property payments. 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 expenditure, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. Payments Due by Year 2022 and 2017 2018 2019 2020 2021 beyond Total Mineral Property Leases (1) $ - $ 424,668 $ 429,688 $ 434,783 $ 439,955 $ 445,204 $ 2,174,298 Mining Claim Government Fees 76,950 114,925 114,925 114,925 114,925 114,925 651,575 Total $ 76,950 $ 539,593 $ 544,613 $ 549,708 $ 554,880 $ 560,129 $ 2,825,873 (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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	10. 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, represented the remaining consideration for the purchase of these claims and related rights and was paid in January 2017. Under the Agreement, the payment was made 70 30 Mr. Hanneman was appointed Chief Operating Officer of the Company on March 26, 2015 and subsequently appointed Chief Executive Officer of the Company effective January 31, 2017. Mr. Hanneman is a partner of the general partner, as well as a limited partner, of AN Gold Mines and holds an 11.9 In December 2016, the Company closed a non-brokered private placement financing through the issuance of 32,429,842 9,041,554 4,361,938 0.48 34.2 19.4 9.5 162,186,972 In May 2017, the Company recognized an obligation to issue 206,024 99,492 206,024 At September 30, 2017, accounts payable and accrued liabilities included related party costs of $ 7,479 4,605

DIRECTOR CHANGES

DIRECTOR CHANGES	9 Months Ended
	Sep. 30, 2017
Changes In Management [Abstract]
Changes In Management [Text Block]	11. DIRECTOR CHANGES At the 2017 Annual General Meeting of shareholders in Vancouver, B.C. on May 24, 2017, the shareholders fixed the size of the board at eight with the addition of Mr. Victor Flores and Mr. Thomas Irwin.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	12. SUBSEQUENT EVENTS In accordance with the Company’s DSU Plan, on October 23, 2017 the Company granted each of the members of the Board of Directors (other than those directors nominated for election by Paulson & Co., Inc.) 129,687 In accordance with the Company’s 2006 Incentive Stock Option Plan, on October 23, 2017 the Company granted incentive stock options to Mr. Karl Hanneman in connection with his appointment as the new Chief Executive Officer of the Company. Mr. Hanneman is entitled to purchase a total of 250,000 1.35 February 1, 2025

FAIR VALUE OF FINANCIAL INSTR19

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair value as at September 30, 2017 Level 1 Level 2 Financial assets: Marketable securities $ 18,230 $ - Total $ 18,230 $ - Fair value as at December 31, 2016 Level 1 Level 2 Financial assets: Marketable securities $ 22,754 $ - Total $ 22,754 $ - Financial liabilities: Derivative liability (Note 6) $ - $ 14,694,169 Total $ - $ 14,694,169

CAPITALIZED ACQUISITION COSTS (

CAPITALIZED ACQUISITION COSTS (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2016 $ 55,204,041 Acquisition costs - Balance, September 30, 2017 $ 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 nine months ended September 30, 2017 and 2016: September 30, September 30, 2017 2016 Exploration costs: Aircraft services $ 6,220 $ 6,511 Assay 412,811 - Environmental 203,344 233,398 Equipment rental 35,542 33,375 Field costs 91,569 87,754 Geological/geophysical 932,642 1,613,994 Land maintenance & tenure 496,910 494,316 Legal 57,246 27,845 Transportation and travel 11,121 7,091 Total expenditures for the period $ 2,247,405 $ 2,504,284

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	The following table presents the accrued liabilities balances at September 30, 2017 and December 31, 2016. September 30, December 31, 2017 2016 Accrued liabilities $ 520,355 $ 41,682 Accrued salaries and benefits 57,424 168,500 Total accrued liabilities $ 577,779 $ 210,182

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, 2017 and December 31, 2016 and changes is presented below: Nine Months Ended Year Ended September 30, 2017 December 31, 2016 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Intrinsic Number of Exercise Intrinsic Options Price (C$) Value Options Price (C$) Value Balance, beginning of the period 6,026,200 $ 1.61 $ 183,930 6,066,200 $ 1.60 $ Nil Exercised - - - (40,000) 0.50 29,600 Expired (1,650,000) 3.17 Nil - - - Forfeited (86,200) 1.46 4,368 - - - Balance, end of the period 4,290,000 $ 1.01 $ 131,400 6,026,200 $ 1.61 $ 183,930
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Stock options outstanding are as follows: September 30, 2017 December 31, 2016 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable August 24, 2017 - - - $ 3.17 1,675,000 1,675,000 March 14, 2018 $ 2.18 313,000 313,000 $ 2.18 319,000 319,000 February 25, 2022 $ 1.11 1,030,000 1,030,000 $ 1.11 1,030,000 1,030,000 February 25, 2022 $ 0.73 570,000 570,000 $ 0.73 594,000 594,000 March 10, 2022 $ 1.11 430,000 430,000 $ 1.11 430,000 430,000 March 16, 2023 $ 1.00 1,260,000 1,260,000 $ 1.00 1,260,000 839,999 March 16, 2023 $ 0.50 657,000 657,000 $ 0.50 688,200 445,466 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 20,000 4,290,000 4,290,000 6,026,200 5,353,465
Schedule of Nonvested Share Activity [Table Text Block]	A summary of the non-vested options as of September 30, 2017 and changes during the nine months ended September 30, 2017 is as follows: Weighted average grant- Number of date fair value Non-vested options: options (C$) Outstanding at December 31, 2016 672,735 $ 0.25 Vested (672,735) $ 0.25 Outstanding at September 30, 2017 - -
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: YTD December 31, 2015 Expected life of options 6 years Risk-free interest rate 0.97 % Annualized volatility 80.60 % Dividend rate 0.00 % Exercise price (C$) $ 0.80

SEGMENT AND GEOGRAPHIC INFORM23

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Canada United States Total September 30, 2017 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 8,614 13,183 21,797 Current assets 3,136,666 524,646 3,661,312 Total assets $ 3,145,280 $ 55,741,870 $ 58,887,150 December 31, 2016 Capitalized acquisition costs $ - $ 55,204,041 $ 55,204,041 Property and equipment 8,944 15,856 24,800 Current assets 22,289,678 383,036 22,672,714 Total assets $ 22,298,622 $ 55,602,933 $ 77,901,555 Three months ended September 30, 2017 September 30, 2016 Net loss for the period – Canada $ (385,257) $ (276,954) Net loss for the period - United States (1,360,256) (1,247,635) Net loss for the period $ (1,745,513) $ (1,524,589) Nine months ended September 30, 2017 September 30, 2016 Net loss for the period – Canada $ (1,148,244) $ (915,561) Net loss for the period - United States (3,902,892) (5,165,334) Net loss for the period $ (5,051,136) $ (6,080,895)

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
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 2022 and 2017 2018 2019 2020 2021 beyond Total Mineral Property Leases (1) $ - $ 424,668 $ 429,688 $ 434,783 $ 439,955 $ 445,204 $ 2,174,298 Mining Claim Government Fees 76,950 114,925 114,925 114,925 114,925 114,925 651,575 Total $ 76,950 $ 539,593 $ 544,613 $ 549,708 $ 554,880 $ 560,129 $ 2,825,873 (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 NATUR25

GENERAL INFORMATION AND NATURE OF OPERATIONS (Details Textual) - USD ($)	Sep. 30, 2017	Jan. 12, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
General Information Nature And Continuance Of Operations [Line Items]
Derivative Liability, Fair Value, Gross Liability		$ 14,694,169
Cash and Cash Equivalents, at Carrying Value	$ 3,435,287		$ 22,466,493	$ 1,759,123	$ 6,493,486
Livengood Property [Member]
General Information Nature And Continuance Of Operations [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

FAIR VALUE OF FINANCIAL INSTR26

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Marketable securities	$ 18,230	$ 22,754
Total	18,230	22,754
Financial liabilities:
Derivative liability (Note 6)		0
Total		0
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Marketable securities	0	0
Total	$ 0	0
Financial liabilities:
Derivative liability (Note 6)		14,694,169
Total		$ 14,694,169

CAPITALIZED ACQUISITION COSTS27

CAPITALIZED ACQUISITION COSTS (Details)	9 Months Ended
	Sep. 30, 2017USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Balance, December 31, 2016	$ 55,204,041
Acquisition costs	0
Balance, September 30, 2017	$ 55,204,041

CAPITALIZED ACQUISITION COSTS28

CAPITALIZED ACQUISITION COSTS (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Exploration costs:
Aircraft services	$ 6,220	$ 6,511
Assay	412,811	0
Environmental	203,344	233,398
Equipment rental	35,542	33,375
Field costs	91,569	87,754
Geological/geophysical	932,642	1,613,994
Land maintenance & tenure	496,910	494,316
Legal	57,246	27,845
Transportation and travel	11,121	7,091
Total expenditures for the period	$ 2,247,405	$ 2,504,284

CAPITALIZED ACQUISITION COSTS29

CAPITALIZED ACQUISITION COSTS (Details Textual)	9 Months Ended	159 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Extended period of lease term	19 years
Livengood Property [Member] | Alaska Mental Health Trust Mineral Rights [Member]
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Mining Properties Lease Operating Expense	$ 329,722	$ 2,632,388
Minimum Royalty Payment Percentage	125.00%
Extended period of lease term	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]
Royalty Percentage	5.00%	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%	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%	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%	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	$ 50,000	$ 680,000
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]
Royalty Percentage	1.00%	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%	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	$ 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%	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	$ 500,000
Payments for Royalties	1,000,000
Mining Properties Lease Operating Expense	20,000	185,000
Livengood Property [Member] | Patented Lode Claims [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	20,000
Livengood Property [Member] | Patented Lode Claims [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	$ 25,000
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%	3.00%
Royalty Percentage	3.00%	3.00%
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	$ 15,000
Payments for Royalties	1,000,000
Mining Properties Lease Operating Expense	15,000	128,000
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	125,000
Amount Payable To Lessor On Positive Production Decision	250,000	250,000
Portion Of Amount Payable To Lessor On Positive Production Decision Within Prescribed Period Of Decision	$ 125,000	$ 125,000

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Accrued Liabilities [Line Items]
Accrued liabilities	$ 520,355	$ 41,682
Accrued salaries and benefits	57,424	168,500
Total accrued liabilities	$ 577,779	$ 210,182

ACCRUED LIABILITIES (Details Te

ACCRUED LIABILITIES (Details Textual) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Accrued Liabilities [Line Items]
Accrued General Corporate Cost Current	$ 33,803	$ 13,406
Accrued Project Cost Current	$ 486,552	$ 28,276

DERIVATIVE LIABILITY (Details T

DERIVATIVE LIABILITY (Details Textual)	Jan. 12, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 12, 2016USD ($)$ / Rate	Dec. 31, 2011USD ($)	Dec. 13, 2011USD ($)
Derivative [Line Items]
Derivative Liability Value On Initial Recognition						$ 23,100,000
Average Gold Price | $ / Rate				1,354.79
Derivative Liability, Fair Value, Gross Liability	$ 14,694,169
Payments for Derivative Instrument, Financing Activities		$ 14,694,169	$ 0
Livengood Property Purchase Obligation [Member]
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability				$ 14,694,169
Payments for Derivative Instrument, Financing Activities	$ 14,694,169
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 exceeds the specified price per troy ounce		$ 720

SHARE CAPITAL (Details)

SHARE CAPITAL (Details) - Employee Stock Option [Member] - CAD	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Number of Options
Balance, beginning of the period (in shares)	6,026,200	6,066,200
Exercised (in shares)	0	(40,000)
Expired (in shares)	(1,650,000)
Forfeited (in shares)	(86,200)	0
Balance, end of the period (in shares)	4,290,000	6,026,200
Weighted Average Excercise Price
Balance, beginning of the period (in Canadian dollars per share)	CAD 1.61	CAD 1.6
Exercised (in Canadian dollars per share)	0	0.5
Expired (in Canadian dollars per share)	3.17
Forfeited (in Canadian dollars per share)	1.46	0
Balance, end of the period (in Canadian dollars per share)	CAD 1.01	CAD 1.61
Aggregate Intrinsic Value
Balance, beginning of the period	CAD 183,930	CAD 0
Exercised	0	29,600
Forfeited	4,368	0
Balance, end of the period	CAD 131,400	CAD 183,930

SHARE CAPITAL (Details 1)

SHARE CAPITAL (Details 1) - CAD / shares	Sep. 30, 2017	Dec. 31, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Options (in shares)	4,290,000	6,026,200
Exercisable (in shares)	4,290,000	5,353,465
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 0	CAD 3.17
Number of Options (in shares)	0	1,675,000
Exercisable (in shares)	0	1,675,000
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)	313,000	319,000
Exercisable (in shares)	313,000	319,000
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	1,030,000
Exercisable (in shares)	1,030,000	1,030,000
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)	CAD 0.73	CAD 0.73
Number of Options (in shares)	570,000	594,000
Exercisable (in shares)	570,000	594,000
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)	430,000	430,000
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)	CAD 1	CAD 1
Number of Options (in shares)	1,260,000	1,260,000
Exercisable (in shares)	1,260,000	839,999
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 0.5
Number of Options (in shares)	657,000	688,200
Exercisable (in shares)	657,000	445,466
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 1
Number of Options (in shares)	30,000	30,000
Exercisable (in shares)	30,000	20,000

SHARE CAPITAL (Details 2)

SHARE CAPITAL (Details 2)	9 Months Ended
	Sep. 30, 2017CAD / sharesshares
Number of options
Balance, beginning of the period (in shares) | shares	672,735
Vested (in shares) | shares	(672,735)
Balance, end of the period (in shares) | shares	0
Weighted average grant-date fair value
Balance, beginning of the period (in Canadian dollars per share) | CAD / shares	CAD 0.25
Vested (in Canadian dollars per share) | CAD / shares	0.25
Balance, end of the period (in Canadian dollars per share) | CAD / shares	CAD 0

SHARE CAPITAL (Details 3)

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

SHARE CAPITAL (Details Textual)

SHARE CAPITAL (Details Textual)	Jul. 13, 2017shares	May 24, 2017USD ($)shares	May 24, 2017CADshares	Dec. 28, 2016USD ($)$ / sharesshares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)	Dec. 31, 2016$ / sharesshares
Stockholders Equity [Line Items]
Common Stock, Shares Authorized					500,000,000		500,000,000
Common Stock, Shares, Issued					162,392,996		162,186,972
Common Stock, Shares, Outstanding					162,392,996		162,186,972
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Shares Authorized					10.00%
Proceeds from Issuance of Common Stock | $					$ 0	$ 15,404
Share-based Compensation | $					$ 13,127	$ 92,587
Stock to Be Issued During The Period, Shares		206,024	206,024
Stock to Be Issued During The Period, Value		$ 99,492	CAD 133,916
Deferred Share Unit Incentive Plan [Member]
Stockholders Equity [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Shares Authorized Percentage					10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Shares Available for Grant					7.36%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					16,239,299
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					11,949,299
2006 Plan [Member]
Stockholders Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Percentage					2.64%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					4,290,000
Chief Executive Officer [Member]
Stockholders Equity [Line Items]
Stock Issued During Period, Shares, Issued for Services	206,024
Non-Brokered Private Placement [Member]
Stockholders Equity [Line Items]
Stock Issued During Period, Shares, New Issues				45,833,334
Share Price | $ / shares				$ 0.48			$ 0.48
Proceeds from Issuance of Common Stock | $				$ 22,000,000

SEGMENT AND GEOGRAPHIC INFORM38

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Capitalized acquisition costs	$ 55,204,041	$ 55,204,041		$ 55,204,041
Property and equipment	21,797	24,800		21,797
Current assets	3,661,312	22,672,714		3,661,312
Total assets	58,887,150	77,901,555		58,887,150
Net loss for the period	(1,745,513)	(1,109,733)	$ (1,524,589)	(5,051,136)	$ (6,080,895)
CANADA
Segment Reporting Information [Line Items]
Capitalized acquisition costs	0	0		0
Property and equipment	8,614	8,944		8,614
Current assets	3,136,666	22,289,678		3,136,666
Total assets	3,145,280	22,298,622		3,145,280
Net loss for the period	(385,257)		(276,954)	(1,148,244)	(915,561)
UNITED STATES
Segment Reporting Information [Line Items]
Capitalized acquisition costs	55,204,041	55,204,041		55,204,041
Property and equipment	13,183	15,856		13,183
Current assets	524,646	383,036		524,646
Total assets	55,741,870	$ 55,602,933		55,741,870
Net loss for the period	$ (1,360,256)		$ (1,247,635)	$ (3,902,892)	$ (5,165,334)

COMMITMENTS (Details)

COMMITMENTS (Details)	Sep. 30, 2017USD ($)
Recorded Unconditional Purchase Obligation [Line Items]
2,017	$ 76,950
2,018	539,593
2,019	544,613
2,020	549,708
2,021	554,880
2022 and beyond	560,129
Total	2,825,873
Mineral Property Leases Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2,017	0	[1]
2,018	424,668	[1]
2,019	429,688	[1]
2,020	434,783	[1]
2,021	439,955	[1]
2022 and beyond	445,204	[1]
Total	2,174,298	[1]
Mining Claim Government Fees Obligation [Member]
Recorded Unconditional Purchase Obligation [Line Items]
2,017	76,950
2,018	114,925
2,019	114,925
2,020	114,925
2,021	114,925
2022 and beyond	114,925
Total	$ 651,575
[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.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual)	Jul. 13, 2017shares	May 24, 2017USD ($)shares	May 24, 2017CADshares	Dec. 28, 2016$ / sharesshares	Dec. 31, 2011	Sep. 30, 2017USD ($)shares	Dec. 31, 2016$ / sharesshares
Related Party Transaction [Line Items]
Common Stock, Shares, Outstanding						162,392,996	162,186,972
Stock to Be Issued During The Period, Shares		206,024	206,024
Stock to Be Issued During The Period, Value		$ 99,492	CAD 133,916
Accounts Payable, Related Parties, Current | $						$ 7,479
Accrued Liabilities, Related Parties Current | $						$ 4,605
Non-Brokered Private Placement [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues				45,833,334
Share Price | $ / shares				$ 0.48			$ 0.48
Paulson Co. Inc [Member] | Non-Brokered Private Placement [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues							32,429,842
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage							34.20%
Tocqueville Asset Management, L.P [Member] | Non-Brokered Private Placement [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues							9,041,554
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage							19.40%
AngloGold Ashanti [Member] | Non-Brokered Private Placement [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, New Issues							4,361,938
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage							9.50%
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Issued for Services	206,024
AN Gold Mines [Member]
Related Party Transaction [Line Items]
Payment Due To Related Party Percent					70.00%
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage						11.90%
Heflinger Group [Member]
Related Party Transaction [Line Items]
Payment Due To Related Party Percent					30.00%

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - Subsequent Event [Member]	1 Months Ended
	Oct. 23, 2017CADCAD / sharesshares
Deferred Share Unit Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	129,687
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | CAD / shares	CAD 0.64
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Aggregate Weighted Average Grant Date Fair Value | CAD	CAD 497,998
Incentive Stock Option Plan 2006 [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	250,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | CAD / shares	CAD 1.35
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Feb. 1, 2025
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights	will vest as to one-third on the grant date, one-third on February 1, 2018, and one-third on February 1, 2019