Ireland (IRLD) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	11-May-15
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Trading Symbol	irld
Entity Registrant Name	IRELAND INC.
Entity Central Index Key	1166338
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		155,647,875
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets
Cash	$3,220,921	$259,495
Other receivables	5,886	6,380
Prepaid expenses	176,721	260,484
Total current assets	3,403,528	526,359
Property and equipment, net	1,269,182	1,319,506
Mineral properties	15,882,179	15,882,179
Restricted investments held for reclamation bonds	1,086,561	1,089,753
Reclamation bonds	39,719	39,719
Deposits	10,262	10,262
Total non-current assets	18,287,903	18,341,419
Total assets	21,691,431	18,867,778
Current liabilities
Accounts payable	433,835	390,888
Accounts payable - related party	347,719	237,551
Accrued payroll and related taxes	57,604	58,637
Due to related party	23,290	23,290
Derivative liability	3,207,000	348,450
Total current liabilities	4,069,448	1,058,816
Long-term liabilities
Asset retirement obligation	672,338	672,338
Total long-term liabilities	672,338	672,338
Total liabilities	4,741,786	1,731,154
Commitments and contingencies	0	0
Stockholders' equity
Common stock, $0.001 par value; 400,000,000 shares authorized, 154,397,875 and 150,772,875 shares, respectively, issued and outstanding	154,396	150,771
Additional paid-in capital	65,927,748	65,626,112
Accumulated other comprehensive income	3,379	5,478
Accumulated deficit	-49,135,878	-48,645,737
Total stockholders' equity	16,949,645	17,136,624
Total liabilities and stockholders' equity	$21,691,431	$18,867,778

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common Stock, Par Value Per Share	$0.00	$0.00
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	154,397,875	150,772,875
Common Stock, Shares, Outstanding	154,397,875	150,772,875

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue	$0	$0
Operating expenses
General and administrative	434,612	526,310
Depreciation	180,494	234,724
Gain on asset disposal	0	-1,000
Mineral and property holding costs	0	24,000
Total operating expenses	1,162,191	1,704,266
Loss from operations	-1,162,191	-1,704,266
Other income (expense)
Interest income	4,759	4,526
Rental income - related party	55,001	8,457
Gain on derivative liability	613,950	320,539
Interest expense	-529	-1,467
Total other income (expense)	673,181	332,055
Loss before income taxes	-489,010	-1,372,211
Income tax expense	-1,131	-769
Net loss	-490,141	-1,372,980
Loss per common share - basic and diluted	$0	($0.01)
Weighted average common shares outstanding - basic and diluted	151,024,819	146,559,542
Net loss	-490,141	-1,372,980
Other comprehensive loss
Unrealized loss on investments, net of deferred tax	-2,099	-1,428
Total comprehensive loss	-492,240	-1,374,408
Related Party [Member]
Operating expenses
Mineral exploration and evaluation expenses	110,168	118,437
General [Member]
Operating expenses
Mineral exploration and evaluation expenses	$436,917	$801,795

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($490,141)	($1,372,980)
Adjustments to reconcile loss from operations to net cash used in operating activities:
Depreciation	180,494	234,724
Gain on asset disposal	0	-1,000
Stock-based compensation	41,625	103,511
Change in derivative liability	-613,950	-320,539
Deferred income taxes	1,131	769
Changes in operating assets and liabilities:
Other receivables	494	5,828
Prepaid expenses and deposits	83,763	116,032
Accounts payable and accrued liabilities	152,082	3,959
Net cash used in operating activities	-644,502	-1,229,696
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	-130,170	0
Proceeds from asset disposal	0	1,000
Purchase of restricted investments held for reclamation bonds	-38	-88
Net cash (used in) provided by investing activities	-130,208	912
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock issuances	3,740,000	2,840,000
Financing issuance costs	-3,864	-20,610
Net cash provided by financing activities	3,736,136	2,819,390
NET CHANGE IN CASH	2,961,426	1,590,606
CASH AT BEGINNING OF PERIOD	259,495	708,371
CASH AT END OF PERIOD	3,220,921	2,298,977
SUPPLEMENTAL INFORMATION
Interest paid	529	1,467
Income taxes paid	0	0
Non-cash investing and financing activities:
Investor warrants issued with non-customary anti-dilution provisions	$3,472,500	$1,951,423

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Dec. 31, 2013	$146,558	$64,156,279	$12,771	($28,582,800)	$35,732,808
Beginning Balance (Shares) at Dec. 31, 2013	146,559,542
Stock-based compensation		103,511			103,511
Issuance of warrants for cash, net		2,819,390			2,819,390
Derivative liability		-1,951,423			-1,951,423
Unrealized (loss) gain on investments, net of tax			-1,428		-1,428
Net loss				-1,372,980	-1,372,980
Ending Balance at Mar. 31, 2014	146,558	65,127,757	11,343	-29,955,780	35,329,878
Ending Balance (Shares) at Mar. 31, 2014	146,559,542
Beginning Balance at Dec. 31, 2014	150,771	65,626,112	5,478	-48,645,737	17,136,624
Beginning Balance (Shares) at Dec. 31, 2014	150,772,875
Stock-based compensation		41,625			41,625
Issuance of warrants for cash, net		3,726,136			3,726,136
Derivative liability		-3,472,500			-3,472,500
Exercise of special warrants	3,425	-3,425			207,250
Exercise of special warrants (Shares)	3,425,000
Issuance of shares for cash, net	200	9,800			10,000
Issuance of shares for cash, net (Shares)	200,000
Unrealized (loss) gain on investments, net of tax			-2,099		-2,099
Net loss				-490,141	-490,141
Ending Balance at Mar. 31, 2015	$154,396	$65,927,748	$3,379	($49,135,878)	$16,949,645
Ending Balance (Shares) at Mar. 31, 2015	154,397,875

STATEMENT_OF_STOCKHOLDERS_EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (PARENTHETICAL) (USD $)	Mar. 31, 2015	Mar. 31, 2014
Deferred tax	$1,131	$769

DESCRIPTION_OF_BUSINESS_HISTOR

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES	3 Months Ended
	Mar. 31, 2015
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES [Text Block]	1	DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES
	Description of business - Ireland Inc. (the “Company”) is primarily focused on the acquisition and exploration of mining properties and has been in the exploration stage since its formation. The Company has not yet realized any revenues from its planned operations. Upon identification of commercially minable reserves, the Company expects to actively prepare the site for mineral extraction and enter the development stage.
	History - The Company was incorporated on February 20, 2001 under the laws of the State of Nevada under the name Merritt Ventures Corp. On December 19, 2005, the Company changed its name to Ireland Inc.
	Basis of presentation - The financial statements present the consolidated balance sheets, statements of operations and comprehensive loss, stockholders’ equity, and cash flows of the Company. These consolidated financial statements have been prepared without audit in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments and disclosures necessary for the fair presentation of these interim statements have been included. All such adjustments are, in the opinion of management, of a normal recurring nature. The results reported in these interim consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 30, 2015.
	Going concern - The accompanying financial statements have been prepared assuming the Company will continue as a going concern.
	Since its formation, the Company has incurred comprehensive cumulative net losses of $49,132,499 as of March 31, 2015. This amount is comprised of net loss from operations of $49,135,878 and other comprehensive income of $3,379. The Company has not commenced its commercial mining and mineral processing operations; rather, it is still in the exploration stage, raising substantial doubt about the Company’s ability to continue as a going concern. The Company will seek additional sources of capital through the issuance of debt or equity financing, but there can be no assurance the Company will be successful in accomplishing its objectives.
	The ability of the Company to continue as a going concern is dependent on additional sources of capital and the success of the Company’s plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
	Principles of consolidation - The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Columbus Minerals Inc. (“CMI”) (including its wholly-owned single-member LLC subsidiary Columbus Salt Marsh LLC (“CSM”)) and Rand Metals LLC (“Rand”). Intercompany accounts and transactions have been eliminated.
	Use of estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include the valuation of stock-based compensation and the derivative liability, impairment analysis of long-lived assets, asset retirement obligations and the realizability of deferred tax assets. Actual results could differ from those estimates.
	Fair value of financial instruments - Fair value accounting establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
		Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
		Level 2	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
		Level 3	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	The Company’s financial instruments consist of restricted investments in U.S. Treasury Notes, certificates of deposit and a derivative liability. These investments are classified within Level 1 of the fair value hierarchy as their fair value is determined using quoted prices in active markets.
	The Company calculates the fair value of its derivative liability using the Binomial Lattice model, a level 3 input. The change in fair value of the derivative liability is classified in other income (expense) in the consolidated statement of operations. The Company generally does not use derivative financial instruments to hedge exposures to cash flow, market or foreign currency risks.
	There have been no changes in valuation techniques for these instruments or transfers of assets between levels for the quarters ended March 31, 2015 or 2014.
	Restricted investments held for reclamation bonds - Restricted investments serve as collateral for reclamation bonding. The investments are classified as available for sale and are recorded at fair value based on quoted market prices with the unrealized gains and losses reflected in accumulated other comprehensive income (loss) until realized. Realized gains and losses are determined on a specific identification method and are recognized in the consolidated statement of operations.
	The Company evaluates unrealized losses, if any, in its investment securities for other-than temporary impairment using both qualitative and quantitative criteria. In the event that an investment is determined to be other-than-temporarily impaired, the Company recognizes the loss in the consolidated statement of operations.
	Mineral properties - Costs of acquiring mineral properties are capitalized upon acquisition. Exploration costs and costs to maintain mineral properties are expensed as incurred while the project is in the exploration stage. Development costs and costs to maintain mineral properties are capitalized as incurred while the property is in the development stage. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production basis over the proven and probable reserves.
	Mineral exploration and development costs - Exploration expenditures incurred prior to entering the development stage are expensed and included in mineral exploration and evaluation expenses.
	Property and equipment - Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the consolidated statement of operations.
	Impairment of long-lived assets - The Company reviews and evaluates its long-lived assets for impairment at each balance sheet date due to its planned exploration stage losses and documents such impairment testing. Mineral properties in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the property, exploration reports, drill results, technical reports and continued plans to fund exploration programs on the property. To date, no such impairments have been identified.
	The tests for long-lived assets in the exploration, development or producing stage that have a value beyond proven and probable reserves will be monitored for impairment based on factors such as current market value of the mineral property and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset, including evaluating its reserves beyond proven and probable amounts.
	The Company's policy is to record an impairment loss in the period when it is determined that the carrying amount of the asset may not be recoverable either by impairment or by abandonment of the property. The impairment loss is calculated as the amount by which the carrying amount of the assets exceeds its fair value. While the Company incurred losses from operations, these losses have not been in excess of planned expenditures on the specific mineral properties in order to ultimately realize their value.
	Asset Retirement Obligation – Future obligations to retire an asset, including site closure, are recorded as a liability at fair value in the period incurred. The fair value determination is based on estimated future cash flows, the current credit-adjusted risk-free interest rate and an estimated inflation factor. The value of the liability is evaluated at least annually or as new information becomes available. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability will be reduced.
	Future reclamation expenditures are difficult to estimate in many circumstances due to the early stage nature of the exploration project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation technology. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised.
	Per share amounts - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities, such as stock options and warrants. Potentially dilutive shares are excluded from the calculation when their inclusion would be anti-dilutive, such as periods when a net loss is reported or when the exercise price of the instrument exceeds its fair market value. At March 31, 2015 and 2014, 94,576,857 and 74,979,025 stock options and warrants were outstanding, respectively, but were not considered in the computation of diluted earnings per share as their inclusion would be anti-dilutive.
	Stock-based compensation - Stock-based compensation awards are recognized in the financial statements based on the grant date fair value of the award which is estimated using the Binomial Lattice option pricing model. The Company believes that this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for the actual exercise behavior of option holders. The compensation cost is recognized over the requisite service period which is generally equal to the vesting period. Upon exercise, shares issued will be newly issued shares from authorized common stock.
	The fair value of performance-based stock option grants is determined on their grant date through use of the Binomial Lattice option pricing model. The total value of the award is recognized over the requisite service period only if management has determined that achievement of the performance condition is probable. The requisite service period is based on management’s estimate of when the performance condition will be met. Changes in the requisite service period or the estimated probability of achievement can materially affect the amount of stock-based compensation recognized in the financial statements.
	The fair value of market-based stock option grants is determined on their grant date through use of an option pricing model which uses a combination of Monte Carlo simulation and a Trinomial Lattice function. The requisite service period for market-based awards is derived from the model. Achievement of the market condition earlier than estimated can materially affect the amount of stock-based compensation recognized in the financial statements.
	Income taxes - The Company follows the liability method of accounting for income taxes. This method recognizes certain temporary differences between the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset as measured by the statutory tax rates in effect. The effect of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.
	For acquired properties that do not constitute a business, a deferred income tax liability is recorded on GAAP basis over income tax basis using statutory federal and state rates. The resulting estimated future income tax liability associated with the temporary difference between the acquisition consideration and the tax basis is reflected as an increase in the total purchase price which is then applied to the underlying acquired assets in the absence of there being a goodwill component associated with the acquisition transactions.
	Recent accounting standards - From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. The Company has evaluated all the recent accounting pronouncements and unless otherwise discussed, believes they will not have a material effect on the financial statements.
	In November 2014, the FASB issued Accounting Standard Update (“ASU”) 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. The ASU clarifies how current guidance should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Specifically, the amendments clarify that an entity should consider all relevant terms and features, including the embedded derivative feature being evaluated for bifurcation, in evaluating the nature of a host contract. The ASU is effective for fiscal years and interim periods beginning after December 15, 2015. The Company is currently assessing the impact, if any, of implementing this guidance on its consolidated financial position, results of operations or cash flows.
	In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern. The new standard requires management of public and private companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The new standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Adoption of the new guidance is not expected to have an impact on the consolidated financial position, results of operations or cash flows.
	In June 2014, the FASB issued ASU 2014-12, Compensation - Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, which is effective for financial statements issued for interim and annual periods beginning on or after December 15, 2015. The guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in the estimate of the grant-date fair value of the award. Adoption of the new guidance is not expected to have an impact on the consolidated financial position, results of operations or cash flows.

PROPERTY_AND_EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2015
PROPERTY AND EQUIPMENT [Text Block]	2	PROPERTY AND EQUIPMENT
	Property and equipment consisted of the following:
				31-Mar-15							31-Dec-14
						Accumulated			Net book				Accumulated			Net book
				Cost		depreciation			value		Cost		depreciation			value
		Furniture and fixtures	$	61,405	$	(31,918	)	$	29,487	$	61,405	$	(28,896	)	$	32,509
		Computers and equipment		52,275		(28,658	)		23,617		52,275		(26,162	)		26,113
		Land		30,000		-			30,000		30,000		-			30,000
		Site improvements		2,925,731		(2,645,902	)		279,829		2,925,731		(2,553,280	)		372,451
		Site equipment		2,017,015		(1,364,933	)		652,082		1,886,846		(1,295,080	)		591,766
		Vehicles		23,595		(23,595	)		-		23,595		(23,595	)		-
		Building		500,000		(245,833	)		254,167		500,000		(233,333	)		266,667
			$	5,610,021	$	(4,340,839	)	$	1,269,182	$	5,479,852	$	(4,160,346	)	$	1,319,506
	Depreciation expense was $180,494 and $234,724 for the quarters ended March 31, 2015 and 2014 respectively.

MINERAL_PROPERTIES

MINERAL PROPERTIES	3 Months Ended
	Mar. 31, 2015
MINERAL PROPERTIES [Text Block]	3	MINERAL PROPERTIES
	Mineral properties consisted of the following:
				March 31,		December 31,
				2015		2014
		Columbus Project	$	15,811,948	$	15,811,948
		DDB Claims		70,231		70,231
		Ending balance	$	15,882,179	$	15,882,179
	Columbus Project - On February 20, 2008, the Company acquired a 100% interest in the Columbus Project by way of merger with Columbus Brine Inc. (“CBI”).The property was purchased with issuance of 10,440,087 shares of common stock and 5,220,059 share purchase warrants, which expired in February 2013. Prior to the merger, the Company held a 15% interest in the Columbus Project by satisfying its option agreement requirements. Pursuant to the option assignment agreement, the Company granted and continues to have a 5% net smelter return royalty to NMC, one of the principal stockholders of the Company.
	On August 31, 2014, the Company elected not to renew 51% of the acquired mining claims by declining to pay the Bureau of Land Management (“BLM”) maintenance fees for the abandoned claims. A loss of $16,136,105 was recognized during the year ended December 31, 2014.
	DDB Claims - The Company had a lease agreement for mining claims with the DDB Syndicate. The DDB Syndicate is owned by the Company’s CEO, a former member of our Board of Directors, former officers and directors of CBI and their relatives and affiliates of NMC. The DDB Claims were located in 2007, prior to any of these related persons’ involvement with the Company.
	On November 20, 2012, the Company exercised its option provided in the lease agreement to purchase the DDB Claims for a purchase price of $180,080. On August 31, 2014, the Company elected not to renew 61% of the DDB claims by declining to pay the BLM maintenance fees for the abandoned claims. A loss of $109,849 was recognized during the year ended December 31, 2014.
	Reclamation bonds - The Company maintains required reclamation bonding with the BLM. Reclamation bonding consists of cash bonding held with the BLM and restricted investments held by the Company. Restricted investments consist of U.S. Treasury Notes and certificates of deposit. At March 31, 2015 and December 31, 2014, obligations under cash bonding amounted to $39,719 and $39,719, respectively and restricted investments amounted to $1,086,561 and $1,089,753 respectively, and exceeded bonding requirements by $7,176 and $10,368, respectively. The Company anticipates using the excess amount for future collateral requirements.
	The following is a summary of restricted investments held for reclamation bonds:
										Aggregate
				Amortized		Unrealized		Unrealized		Estimated
				Cost		Gains		Losses		Fair Value
		31-Mar-15
		US Treasury Notes	$	879,553	$	5,198	$	-	$	884,751
		Certificates of deposit		201,810		-		-		201,810
		Total available-for-sale securities	$	1,081,363	$	5,198	$	-	$	1,086,561
		31-Dec-14
		US Treasury Notes	$	879,553	$	8,428	$	-	$	887,891
		Certificates of deposit		201,772		-		-		201,722
		Total available-for-sale securities	$	1,081,325	$	8,428	$	-	$	1,089,753
	The US Treasury Notes mature in July 2015. The Company has two certificates of deposit maturing in April 2016 and June 2015, respectively. Each certificate is set up for automatic renewal for one year periods until the Company or the financial institution elect not to renew.
	Asset Retirement Obligation – The asset requirement obligation relates to the Columbus Project and amounted to $672,338 as of March 31, 2015 and December 31, 2014. The estimated costs were discounted using a credit adjusted risk-free rate of 4.31% and an inflation rate of 3.21% at March 31, 2015 and December 31, 2014, respectively.

DERIVATIVE_WARRANT_LIABILITY

DERIVATIVE WARRANT LIABILITY	3 Months Ended
	Mar. 31, 2015
DERIVATIVE WARRANT LIABILITY [Text Block]	4	DERIVATIVE WARRANT LIABILITY
	As further discussed in Note 5, the Company issued 14,200,000 Special Warrants (“2014 Special Warrants”) in the first quarter of 2014 and 18,650,000 Special Warrants (“2015 Special Warrants”) in the first quarter of 2015 each at a price of $0.20 per warrant.
	The Special Warrants have anti-dilution provisions, including the provision for the holders to participate in subsequent equity financings at no additional cost by converting the Special Warrants into shares or units offered in a subsequent equity financing for a total subscription price equal to the total subscription price paid for the Special Warrants.
	The Company determined that the anti-dilution provision shields the Special Warrant holders from the dilutive effects of subsequent equity financings and therefore the economic characteristics and risks of the Special Warrants are not clearly and closely related to the Company’s common stock. Accordingly, the Special Warrants are treated as a derivative liability and are carried at fair value.
	As of March 31, 2015, 8,075,000 of the 2014 Special Warrants were converted into 2015 Special Warrants and 6,125,000 of the 2014 Special Warrants were converted into units.
	The following table sets forth the changes in the derivative liability for the quarter ended March 31 2015 and the year ended December 31, 2014:
				March 31,			December 31,
				2015			2014
		Beginning balance	$	(348,450	)	$	-
		Issuance of Special Warrants		(3,472,500	)		(1,951,423	)
		Exercise of Special Warrants		207,250			165,628
		Change in fair value		406,700			1,437,345
		Ending balance	$	(3,207,000	)	$	(348,450	)
	The Company estimates the fair value of the derivative liability by using the Binomial Lattice pricing-model, with the following assumptions used for the quarter ended March 31, 2015 and the year ended December 31, 2014:
				March 31,			December 31,
				2015			2014
		Dividend yield		-			-
		Expected volatility		94.96%			91.07% - 137.42%
		Risk-free interest rate		0.03% - 0.26%			0.04% - 0.14%
		Expected life (years)		-			0.10 - 1.0
	The expected volatility is based on the historical volatility levels on the Company’s common stock. The risk-free interest rate is based on the implied yield available on US Treasury zero-coupon issues over equivalent lives of the warrants. The expected life is impacted by all of the underlying assumptions and calibration of the Company’s model. Significant increases or decreases in inputs would result in a significantly lower or higher fair value measurement.

STOCKHOLDERS_EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	Mar. 31, 2015
STOCKHOLDERS EQUITY [Text Block]	5	STOCKHOLDERS’ EQUITY
	During the quarter ended March 31, 2015, stockholders’ equity activity consisted of the following:
	2015 Special Warrant offering - During the first quarter of 2015, the Company sold 18,650,000 Special Warrants at a price of $0.20 for gross proceeds of $3,730,000.
	The Special Warrants may be converted during their term, at no additional cost to the holder, on a 1:1 basis into units (each a “Unit”) consisting of one share of common stock and one warrant exercisable for one additional share of common stock at $0.40, expiring February 28, 2020. Alternatively, the Special Warrants provide the holder the right to exchange their Special Warrants for equal participation in a subsequent equity financing. All Special Warrants outstanding at February 28, 2016 automatically convert into Units.
	The Special Warrants extend for a term ending on the earlier of February 28, 2016 or the date that is one month after the Company completes a Qualified Financing, defined as any financing or number of financings for total gross proceeds of $7,000,000 or more. Total fees related to issuance of the Special Warrants amounted to $3,864.
	The holders of 8,075,000 exchanged their 2014 Special Warrants for 2015 Special Warrants.
	Exercise of 2014 Special Warrants – During the quarter ended March 31, 2015, 3,425,000 Special Warrants were converted into Units consisting of one share of common stock and one warrant exercisable for one additional share of common stock at $0.40, expiring March 29, 2019.
	Exercise of stock options – During the quarter ended March 31, 2015, 200,000 stock options were exercised for gross proceeds of $10,000.
	During the quarter ended March 31, 2014, stockholders’ equity activity consisted of the following:
	2014 Special Warrant offering - During the first quarter of 2014, the Company sold 14,200,000 Special Warrants at a price of $0.20 for gross proceeds of $2,840,000.
	The Special Warrants may be converted during their term, at no additional cost to the holder, on a 1:1 basis into units (each a “Unit”) consisting of one share of common stock and one warrant exercisable for one additional share of common stock at $0.40, expiring March 29, 2019. Alternatively, the Special Warrants provide the holder the right to exchange their Special Warrants for equal participation in a subsequent equity financing. All Special Warrants outstanding on March 31, 2015 automatically convert into Units. Total fees related to the issuance of Special Warrants amounted to $20,610.
	Private Placement Offering to NMC - The Company entered into a subscription agreement effective March 25, 2014 with NMC, whereby NMC has agreed to purchase units (each a “Unit”) of the Company for an aggregate subscription price of $300,000 on or before August 15, 2014. The total number of Units to be sold to NMC on closing will be based upon a per Unit purchase price equal to the greater of $0.20 per unit or the average closing price over the ten trading days immediately prior to the closing date. Each Unit will consist of one share of common stock and one warrant exercisable for one additional share of common stock at a price equal to 200% of the per Unit purchase price, expiring March 29, 2019.
	Warrant Amendment - On January 15, 2014, the Company’s Board of Directors unilaterally determined, without any negotiations with the warrant holders, to amend 22,572,827 private placement warrants granted in connection with the 2007, 2009 and 2010 private placement offerings, and 4,000,000 additional warrants issued to consultants in 2009 and 2010 (collectively, the “Expiring Warrants”). The expiration date of the Expiring Warrants was extended from January 15, 2014 to April 30, 2014. In all other respects, the terms and conditions of the Expiring Warrants remain the same. The Company calculated the fair values of the warrant modifications using the Binomial Lattice model with the following assumptions and outputs:
		Risk-free interest rate		0.04%
		Expected volatility		58.97%
		Expected life (years)		0.3
		Fair value	$	-
	The following summarizes the exercise price per share and expiration date of the Company’s outstanding warrants issued to investors to purchase common stock at March 31, 2015:
		Shares Underlying
		Outstanding Warrants		Exercise Price	Expiration Date
		22,572,827	$	0.75	Dec-15
		12,069,099		0.8	Dec-15
		26,725,000 *		0.2	Feb-16
		8,896,901		0.95	Nov-16
		7,458,333		0.45	Mar-19
		77,722,160
	* The exercise price of these warrants has been paid by the investors. Upon exercise, the holders will receive one share of common stock and one warrant exercisable at $0.40.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2015
STOCK-BASED COMPENSATION [Text Block]	6	STOCK-BASED COMPENSATION
	Stock-based compensation includes grants of stock options and purchase warrants to eligible directors, employees and consultants as determined by the Board of Directors.
	Stock option plans - On March 27, 2007, the Board of Directors adopted the 2007 Stock Incentive Plan (the “Plan”). Under the terms of the Plan, options to purchase up to 6,000,000 shares of the common stock, subject to an increase each quarter equal to 15% of the increase in the total number of outstanding shares during the previous quarter, may be granted to officers, directors, employees and eligible consultants. As of March 31, 2015, the Company had granted 13,996,916 options under the Plan with a weighted average exercise price of $0.49 per option. As of March 31, 2015, 12,054,697 options were outstanding.
	Stock warrants - Upon approval of the Board of Directors, the Company grants stock warrants to consultants for services performed.
	Valuation of awards - At March 31, 2015, the Company had options outstanding that vest on three different types of vesting schedules:
		1	Service-based;
		2	Performance-based; and
		3	Market-based.
	For service-based and performance-based stock option grants the Company utilizes the Binomial Lattice pricing model to estimate the fair values of options and warrants granted in exchange for services. For market-based stock option grants the Company utilizes a combination of a Monte Carlo simulation and a Trinomial Lattice function to estimate the fair values of options in exchange for services. The Company used the following assumptions to estimate the fair values of the options granted for the quarter ended March 31, 2015:
		Dividend yield		-
		Expected volatility		165.70%
		Risk-free interest rate		0.02 – 0.21%
		Expected life (years)		0.10 – 0.80
	Inputs used in these models are determined as follows:
		1	The expected life represents the weighted-average period the awards are expected to remain outstanding and is a derived output of the option pricing models. The expected life is impacted by all of the underlying assumptions and calibration of the Company’s models.
		2	The requisite service period for market-based stock option awards is a derived output of the hybrid Monte Carlo-Trinomial Lattice model.
		3	Volatility is based on the average historical volatility levels of a representative peer group.
		4	The risk-free interest rate is based on the implied yield available on U.S. Treasury zero- coupon issues over the equivalent contractual lives of the options.
	During the quarter ended March 31, 2015, the Company stock based compensation activity was as follows:
		a)	On February 25, 2015, the Company’s Board of Directors unilaterally determined to amend 650,531 stock options by extending their expiration dates. The options were granted at various dates between March 8, 2010 and July 22, 2010 and have a weighted average exercise price of $0.64 per share. The expiration dates of all of the options were extended to December 31, 2015. In all other respects, the terms and conditions of the extended options remain the same. The modification resulted in additional compensation expense of $25,387.
	During the quarter ended March 31, 2014, the Company stock based compensation activity was as follows:
		a)	On January 17, 2014, the Company granted non-qualified stock options to certain executive officers under the Plan for an aggregate of 325,000 shares of common stock at an exercise price of $0.28 per option. The options vest upon completion of defined events and milestones. The options expire on the fifth anniversary of the date that they vest, but in no event later than the tenth anniversary of the agreement. Each of the options will automatically vest and become exercisable upon the occurrence of a change in control.
		b)	On January 17, 2014, the Company granted non-qualified stock options to certain executive officers under the Plan for an aggregate of 325,000 shares of common stock at an exercise price of $0.28 per option. The options vest upon the Company’s stock price achieving defined targets. The options expire on the fifth anniversary of the date that they vest, but in no event later than the tenth anniversary of the agreement. Each of the options will automatically vest and become exercisable upon the occurrence of a change in control.
		c)	On January 17, 2014, the Company granted non-qualified stock options to the Company’s independent directors and certain executive officers under the Plan for an aggregate of 1,250,000 shares of common stock at an exercise price of $0.28 per option. The options vest 25% each on March 31, 2014, June 30, 2014, September 30, 2014 and December 31, 2014. The options expire on the fifth anniversary of the date that they vest. The options will automatically vest and become exercisable upon the occurrence of a change in control.
	The total expense for the quarters ended March 31, 2015 and 2014 related to the granting, vesting and modification of all stock-based compensation awards was $41,625 and $103,511, respectively. Such expenses are included in general and administrative expense and mineral exploration and evaluation expense.
	The following table summarizes the Company’s stock-based compensation activity for the quarter ended March 31, 2015:
										Weighted
										Average
							Weighted			Remaining
							Average Grant		Weighted	Contractual		Aggregate
				Number of			Date Fair		Average	Life		Intrinsic
				Shares			Value		Exercise Price	(Years)		Value
		Outstanding, December 31, 2014		17,054,697		$	0.32	$	0.58	3.17
		Options/warrants granted		-			-		-	-
		Options/warrants exercised		(200,000	)		0.38		0.05	-
		Options/warrants expired		-			-		-	-
		Options/warrants cancelled		-			-		-	-
		Outstanding, March 31, 2015		16,854,697		$	0.32	$	0.59	2.95	$	694,800
		Exercisable, March 31, 2015		13,024,697		$	0.42	$	0.76	1.92	$	658,400
	Aggregate intrinsic value represents the value of the Company’s closing stock price on the last trading day of the quarter ended in excess of the weighted-average exercise price multiplied by the number of options outstanding or exercisable.
	The following table summarizes the changes of the Company’s stock-based compensation awards subject to vesting for the quarter ended March 31, 2015:
							Weighted Average
				Number of			Grant Date
				Shares			Fair Value
		Unvested, December 31, 2014		3,830,000		$	0.28
		Granted		-			-
		Vested		-			-
		Unvested, March 31, 2015		3,830,000		$	0.28
	As of March 31, 2015, there was $44,359 of total unrecognized compensation cost related to unvested stock-based compensation awards. The weighted average period over which this cost will be recognized was 1.32 years as of March 31, 2015.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
INCOME TAXES [Text Block]	7	INCOME TAXES
	The Company is a Nevada corporation and is subject to federal income taxes. Nevada does not impose a corporate income tax.
	Significant components of the Company’s net deferred income tax assets and liabilities at March 31, 2015 and December 31, 2014 were as follows:
				March 31,			December 31,
				2015			2014
		Deferred income tax assets:
		Net operating loss carryforward	$	12,331,716		$	11,932,233
		Option compensation		1,893,770			1,906,018
		Property, plant & equipment		879,032			841,689
		Exploration costs		470,201			478,937
		Asset retirement obligation		235,318			235,318
		Gross deferred income tax assets		15,810,037			15,394,195
		Less: valuation allowance		(10,319,661	)		(9,902,688	)
		Net deferred income tax assets		5,490,376			5,491,507
		Deferred income tax liabilities:
		Unrealized gain on investments		(1,819	)		(2,950	)
		Acquisition related liabilities		(5,488,557	)		(5,488,557	)
		Net deferred income tax liabilities	$	-		$	-
	A valuation allowance was established for deferred tax assets related to certain option compensation, asset retirement obligations and net operating loss carryforwards due to the uncertainty of realizing these deferred tax assets based on conditions existing at March 31, 2015 and December 31, 2014, respectively.
	The realizability of deferred tax assets are reviewed at each balance sheet date. The majority of the Company’s deferred tax liabilities are depletable. Such depletion will begin with the processing of mineralized material once production has commenced. Therefore, the deferred tax liabilities will reverse in similar time periods as the deferred tax assets. The Company assesses both positive and negative evidence to determine whether it is more likely than not that such reversal will occur to realize the deferred tax assets prior to their exploration. The reversal of the deferred tax liabilities is sufficient to support the net deferred tax assets.
	The acquisition related liabilities are a result of the estimated future federal income tax liability associated with the temporary difference between the acquisition consideration and the tax basis. The deferred tax liabilities were reflected as an increase to the total purchase price which has been applied to the underlying mineral and Columbus project assets in the absence of there being a goodwill component associated with the acquisition transactions.
	A reconciliation of the tax provision for the quarters ended March 31, 2015 and 2014 at US federal tax rates to the actual tax provision recorded in the financial statements consisted of the following components:
				March 31,			March 31,
				2015			2014
		Income tax benefit based on statutory tax rate	$	221,904		$	480,274
		Reconciling items:
		Non-deductible items		193,938			111,789
		Change in valuation allowance		(416,973	)		(592,832	)
		Income tax expense	$	(1,131	)	$	(769	)
	The Company had cumulative net operating losses of approximately $35,233,478 as of March 31, 2015 for federal income tax purposes. Cumulative net operating losses from December 31, 2006 and previous years are effectively nil due to the annual limitation imposed by the Internal Revenue Code of 1986 as a result of the ownership percentage change limitations. The net operating loss carryforwards will expire between 2027 and 2035.
	The Company and its subsidiary file income tax returns in the United States. These tax returns are subject to examination by taxation authorities provided the years remain open under the relevant statutes of limitations, which may result in the payment of income taxes and/or a decrease in the net operating losses available for carryforwards. The Company has losses from inception to date, and thus all years remain open for examination. While the Company believes that its tax filings do not include uncertain tax positions, the results of potential examinations or the effect of changes in tax law cannot be ascertained at this time. The Company currently has no tax years under examination.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES [Text Block]	8	COMMITMENTS AND CONTINGENCIES
	Lease obligations – The Company rents office space under an operating lease agreement. The lease expires in August 2017 and provides for an option to renew the lease for an additional four years. In the normal course of business, it is expected that this lease will be renewed or replaced by a lease of a similar property.
	The lease provides for increases in future annual rental payments of 4% per year. Under the lease agreement, the Company is also required to pay monthly operating expenses of approximately $748.
	The Company has a sublease agreement with a related party as further discussed in Note 11. The following table represents future base rent payments, sublease income and the net lease commitment for each of the twelve month periods ending March 31,
				Minimum
				Lease		Sublease		Net Lease
				Commitment		Income		Commitment
		2016	$	51,238	$	8,335	$	42,903
		2017		53,288		-		53,288
		2018		17,993		-		17,933
			$	122,519	$	8,335	$	114,184
	Rental expense for office space was $14,629 and $14,479 for the quarters ended March 31, 2015 and 2014, respectively.
	Columbus Project – Pursuant to the option assignment agreement dated March 30, 2007, as amended August 8, 2007, the Company granted a 5% net smelter return royalty to NMC, one of the principal stockholders of the Company. The Columbus Project is further discussed in Note 3.
	Stand-by letter of credit – A financial institution has issued a stand-by letter of credit to the BLM for up to $100,000 on behalf of the Company. The stand-by letter of credit was issued to guarantee the Company’s compliance with reclamation bonding requirements. The letter of credit expires on June 24, 2015 and will be automatically renewed for one year periods unless either party elects not to renew. The Company is required to maintain a $100,000 certificate of deposit with the financial institution which is included in “restricted investments held for reclamation bonds” on the balance sheet. The Company is also required to pay an annual fee of 2% of the total value of the letter of credit. As of March 31, 2015, no draws have been made on the letter of credit.
	Consultant bonus – In April 2012, the Company entered into an Agreement for Services (the “Agreement”) with a consulting firm. The Company agreed to pay the firm at their standard rates in exchange for services provided. In addition, the Company agreed to pay bonuses to the firm upon completion of milestones as defined in the Agreement. The bonuses consist of cash payments up to $400,000 and issuance of up to 3,000,000 warrants at a price of $0.90 per share and expiring March 31, 2017. The Agreement does not contain any performance commitments; therefore, the fair value of the warrants will be measured and recognized on the dates that the milestones are reached. As of March 31, 2015, no milestones have been reached for which a bonus was due or paid.
	Registration Rights Agreement - In connection with the November 30, 2012 private placement, the Company entered into a Registration Rights Agreement (“RRA”) with the purchasers. Pursuant to the RRA, the Company agreed to certain demand registration rights. These rights include the requirement that the Company file certain registration statements within a specified time period and to have these registration statements declared effective within a specified time period. If the registration statement is not effective six months after the closing date, the warrants may be exercised by means of a cashless exercise. If the Company is not able to comply with these registration requirements, the Company will be required to pay cash penalties equal to 1.0% of the subscription proceeds on the date of such failure, and each month thereafter, up to a maximum of 6% of the subscription proceeds. The maximum penalty amounts to $346,979. As of March 31, 2015, the Company has incurred cumulative penalties of $5,757.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2015
CONCENTRATIONS [Text Block]	9	CONCENTRATIONS
	Concentration of credit risk - The Company maintains its cash accounts in financial institutions. Cash accounts are insured by the Federal Deposit Insurance Corporation (“FDIC”) for up to $250,000 per financial institution. The Company has never experienced a material loss or lack of access to its cash accounts; however, no assurance can be provided that access to the Company’s cash accounts will not be impacted by adverse conditions in the financial markets. At March 31, 2015, the Company had $2,774,910 in excess of FDIC insured limits.
	Concentration of activity - The Company currently utilizes a metallurgical consulting firm to perform significant portions of its exploration work programs. A change in the lead metallurgical consulting firm could cause a delay in the progress of the Company’s exploration programs and would cause the Company to incur significant transition expense and may affect operating results adversely.

OTHER_COMPREHENSIVE_LOSS

OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2015
OTHER COMPREHENSIVE LOSS [Text Block]	10	OTHER COMPREHENSIVE LOSS
	The tax effects of each component of comprehensive loss for the quarters ended March 31, 2015 and 2014 were as follows:
				31-Mar-15			31-Mar-14
		Unrealized holding losses	$	(3,230	)	$	(2,197	)
		Income tax benefit - OCI		1,131			769
		Total unrealized loss, net of tax	$	(2,099	)	$	(1,428	)

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
RELATED PARTY TRANSACTIONS [Text Block]	11	RELATED PARTY TRANSACTIONS
	DOSA - DOSA is a consulting firm owned by the Company’s CEO. Services provided by NMC are coordinated for the Company by DOSA. No management fees are billed to the Company for these services. Details of these transactions are provided below. The CEO’s salary and reimbursable expenses are also paid to DOSA.
	NMC - NMC is the Company’s largest shareholder. NMC and its affiliates own approximately 28.2% of the Company’s outstanding common stock and is the Company’s lead consultant on technical exploration matters.
	The following table provides details of transactions between the Company and NMC for the quarters ended March 31, 2015 and 2014.
				March 31,		March 31,
				2015		2014
		Reimbursement of expenses	$	5,168	$	13,437
		Consulting services provided		105,000		105,000
		Mineral and exploration
		expense – related party	$	110,168	$	118,437
	For the quarters ended March 31, 2015 and 2014, all NMC transactions were invoiced by DOSA. At March 31, 2015 and December 31, 2014, the Company owed DOSA $347,719 and $237,551, respectively, for NMC fees and reimbursements.
	Searchlight Minerals Corp. (“SMC”) – The Company leases corporate office space under a sublease agreement to SMC. NMC is a shareholder in both the Company and SMC. Additionally, the Company’s CFO, Treasurer and director is also a director of SMC and one of the Company’s consultants is an officer and director of SMC. The sublease agreement was effective September 1, 2013, is for a two year period and requires monthly payments of $2,819 for the first year and $1,667 thereafter. Total rent income earned under this sublease agreement was $5,001 and $8,457 for the quarters ended March 31, 2015 and 2014, respectively. $3,334 was due from SMC as of March 31, 2015 and no amounts were due as of December 31, 2014.
	Cactus Mining – Cactus Mining is an affiliate of NMC. For the quarter ended March 31, 2015, Cactus Mining paid the Company $50,000 for use of onsite laboratory facilities and personnel for the month of March 2015.
	Former officers - Due to related parties includes amounts due to former officers of the Company. At March 31, 2015 and December 31, 2014, the remaining amount of due to related parties was $23,290, respectively.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Description of business [Policy Text Block]	Description of business - Ireland Inc. (the “Company”) is primarily focused on the acquisition and exploration of mining properties and has been in the exploration stage since its formation. The Company has not yet realized any revenues from its planned operations. Upon identification of commercially minable reserves, the Company expects to actively prepare the site for mineral extraction and enter the development stage.
History [Policy Text Block]	History - The Company was incorporated on February 20, 2001 under the laws of the State of Nevada under the name Merritt Ventures Corp. On December 19, 2005, the Company changed its name to Ireland Inc.
Basis of presentation [Policy Text Block]	Basis of presentation - The financial statements present the consolidated balance sheets, statements of operations and comprehensive loss, stockholders’ equity, and cash flows of the Company. These consolidated financial statements have been prepared without audit in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments and disclosures necessary for the fair presentation of these interim statements have been included. All such adjustments are, in the opinion of management, of a normal recurring nature. The results reported in these interim consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 30, 2015.
Going concern [Policy Text Block]	Going concern - The accompanying financial statements have been prepared assuming the Company will continue as a going concern.
	Since its formation, the Company has incurred comprehensive cumulative net losses of $49,132,499 as of March 31, 2015. This amount is comprised of net loss from operations of $49,135,878 and other comprehensive income of $3,379. The Company has not commenced its commercial mining and mineral processing operations; rather, it is still in the exploration stage, raising substantial doubt about the Company’s ability to continue as a going concern. The Company will seek additional sources of capital through the issuance of debt or equity financing, but there can be no assurance the Company will be successful in accomplishing its objectives.
	The ability of the Company to continue as a going concern is dependent on additional sources of capital and the success of the Company’s plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
Principles of consolidation [Policy Text Block]	Principles of consolidation - The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Columbus Minerals Inc. (“CMI”) (including its wholly-owned single-member LLC subsidiary Columbus Salt Marsh LLC (“CSM”)) and Rand Metals LLC (“Rand”). Intercompany accounts and transactions have been eliminated.
Use of estimates [Policy Text Block]	Use of estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include the valuation of stock-based compensation and the derivative liability, impairment analysis of long-lived assets, asset retirement obligations and the realizability of deferred tax assets. Actual results could differ from those estimates.
Fair value of financial instruments [Policy Text Block]	Fair value of financial instruments - Fair value accounting establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
		Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
		Level 2	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
		Level 3	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
	The Company’s financial instruments consist of restricted investments in U.S. Treasury Notes, certificates of deposit and a derivative liability. These investments are classified within Level 1 of the fair value hierarchy as their fair value is determined using quoted prices in active markets.
	The Company calculates the fair value of its derivative liability using the Binomial Lattice model, a level 3 input. The change in fair value of the derivative liability is classified in other income (expense) in the consolidated statement of operations. The Company generally does not use derivative financial instruments to hedge exposures to cash flow, market or foreign currency risks.
	There have been no changes in valuation techniques for these instruments or transfers of assets between levels for the quarters ended March 31, 2015 or 2014.
Restricted investments held for reclamation bonds [Policy Text Block]	Restricted investments held for reclamation bonds - Restricted investments serve as collateral for reclamation bonding. The investments are classified as available for sale and are recorded at fair value based on quoted market prices with the unrealized gains and losses reflected in accumulated other comprehensive income (loss) until realized. Realized gains and losses are determined on a specific identification method and are recognized in the consolidated statement of operations.
	The Company evaluates unrealized losses, if any, in its investment securities for other-than temporary impairment using both qualitative and quantitative criteria. In the event that an investment is determined to be other-than-temporarily impaired, the Company recognizes the loss in the consolidated statement of operations.
Mineral properties [Policy Text Block]	Mineral properties - Costs of acquiring mineral properties are capitalized upon acquisition. Exploration costs and costs to maintain mineral properties are expensed as incurred while the project is in the exploration stage. Development costs and costs to maintain mineral properties are capitalized as incurred while the property is in the development stage. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production basis over the proven and probable reserves.
Mineral exploration and development costs [Policy Text Block]	Mineral exploration and development costs - Exploration expenditures incurred prior to entering the development stage are expensed and included in mineral exploration and evaluation expenses.
Property and equipment [Policy Text Block]	Property and equipment - Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the consolidated statement of operations.
Impairment of long-lived assets [Policy Text Block]	Impairment of long-lived assets - The Company reviews and evaluates its long-lived assets for impairment at each balance sheet date due to its planned exploration stage losses and documents such impairment testing. Mineral properties in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the property, exploration reports, drill results, technical reports and continued plans to fund exploration programs on the property. To date, no such impairments have been identified.
	The tests for long-lived assets in the exploration, development or producing stage that have a value beyond proven and probable reserves will be monitored for impairment based on factors such as current market value of the mineral property and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset, including evaluating its reserves beyond proven and probable amounts.
	The Company's policy is to record an impairment loss in the period when it is determined that the carrying amount of the asset may not be recoverable either by impairment or by abandonment of the property. The impairment loss is calculated as the amount by which the carrying amount of the assets exceeds its fair value. While the Company incurred losses from operations, these losses have not been in excess of planned expenditures on the specific mineral properties in order to ultimately realize their value.
Asset Retirement Obligation [Policy Text Block]	Asset Retirement Obligation – Future obligations to retire an asset, including site closure, are recorded as a liability at fair value in the period incurred. The fair value determination is based on estimated future cash flows, the current credit-adjusted risk-free interest rate and an estimated inflation factor. The value of the liability is evaluated at least annually or as new information becomes available. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability will be reduced.
	Future reclamation expenditures are difficult to estimate in many circumstances due to the early stage nature of the exploration project, the uncertainties associated with defining the nature and extent of environmental disturbance, the application of laws and regulations by regulatory authorities and changes in reclamation technology. Changes in estimates are reflected in the consolidated statement of operations in the period an estimate is revised.
Per share amounts [Policy Text Block]	Per share amounts - Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. In computing diluted earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities, such as stock options and warrants. Potentially dilutive shares are excluded from the calculation when their inclusion would be anti-dilutive, such as periods when a net loss is reported or when the exercise price of the instrument exceeds its fair market value. At March 31, 2015 and 2014, 94,576,857 and 74,979,025 stock options and warrants were outstanding, respectively, but were not considered in the computation of diluted earnings per share as their inclusion would be anti-dilutive.
Stock-based compensation [Policy Text Block]	Stock-based compensation - Stock-based compensation awards are recognized in the financial statements based on the grant date fair value of the award which is estimated using the Binomial Lattice option pricing model. The Company believes that this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates, and to allow for the actual exercise behavior of option holders. The compensation cost is recognized over the requisite service period which is generally equal to the vesting period. Upon exercise, shares issued will be newly issued shares from authorized common stock.
	The fair value of performance-based stock option grants is determined on their grant date through use of the Binomial Lattice option pricing model. The total value of the award is recognized over the requisite service period only if management has determined that achievement of the performance condition is probable. The requisite service period is based on management’s estimate of when the performance condition will be met. Changes in the requisite service period or the estimated probability of achievement can materially affect the amount of stock-based compensation recognized in the financial statements.
	The fair value of market-based stock option grants is determined on their grant date through use of an option pricing model which uses a combination of Monte Carlo simulation and a Trinomial Lattice function. The requisite service period for market-based awards is derived from the model. Achievement of the market condition earlier than estimated can materially affect the amount of stock-based compensation recognized in the financial statements.
Income taxes [Policy Text Block]	Income taxes - The Company follows the liability method of accounting for income taxes. This method recognizes certain temporary differences between the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset as measured by the statutory tax rates in effect. The effect of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.
	For acquired properties that do not constitute a business, a deferred income tax liability is recorded on GAAP basis over income tax basis using statutory federal and state rates. The resulting estimated future income tax liability associated with the temporary difference between the acquisition consideration and the tax basis is reflected as an increase in the total purchase price which is then applied to the underlying acquired assets in the absence of there being a goodwill component associated with the acquisition transactions.
Recent accounting standards [Policy Text Block]	Recent accounting standards - From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. The Company has evaluated all the recent accounting pronouncements and unless otherwise discussed, believes they will not have a material effect on the financial statements.
	In November 2014, the FASB issued Accounting Standard Update (“ASU”) 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. The ASU clarifies how current guidance should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. Specifically, the amendments clarify that an entity should consider all relevant terms and features, including the embedded derivative feature being evaluated for bifurcation, in evaluating the nature of a host contract. The ASU is effective for fiscal years and interim periods beginning after December 15, 2015. The Company is currently assessing the impact, if any, of implementing this guidance on its consolidated financial position, results of operations or cash flows.
	In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern. The new standard requires management of public and private companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The new standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Adoption of the new guidance is not expected to have an impact on the consolidated financial position, results of operations or cash flows.
	In June 2014, the FASB issued ASU 2014-12, Compensation - Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period, which is effective for financial statements issued for interim and annual periods beginning on or after December 15, 2015. The guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in the estimate of the grant-date fair value of the award. Adoption of the new guidance is not expected to have an impact on the consolidated financial position, results of operations or cash flows.

PROPERTY_AND_EQUIPMENT_Tables

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Table Text Block]				31-Mar-15							31-Dec-14
						Accumulated			Net book				Accumulated			Net book
				Cost		depreciation			value		Cost		depreciation			value
		Furniture and fixtures	$	61,405	$	(31,918	)	$	29,487	$	61,405	$	(28,896	)	$	32,509
		Computers and equipment		52,275		(28,658	)		23,617		52,275		(26,162	)		26,113
		Land		30,000		-			30,000		30,000		-			30,000
		Site improvements		2,925,731		(2,645,902	)		279,829		2,925,731		(2,553,280	)		372,451
		Site equipment		2,017,015		(1,364,933	)		652,082		1,886,846		(1,295,080	)		591,766
		Vehicles		23,595		(23,595	)		-		23,595		(23,595	)		-
		Building		500,000		(245,833	)		254,167		500,000		(233,333	)		266,667
			$	5,610,021	$	(4,340,839	)	$	1,269,182	$	5,479,852	$	(4,160,346	)	$	1,319,506

MINERAL_PROPERTIES_Tables

MINERAL PROPERTIES (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Mineral Properties [Table Text Block]				March 31,		December 31,
				2015		2014
		Columbus Project	$	15,811,948	$	15,811,948
		DDB Claims		70,231		70,231
		Ending balance	$	15,882,179	$	15,882,179
Schedule of Restricted Investments [Table Text Block]										Aggregate
				Amortized		Unrealized		Unrealized		Estimated
				Cost		Gains		Losses		Fair Value
		31-Mar-15
		US Treasury Notes	$	879,553	$	5,198	$	-	$	884,751
		Certificates of deposit		201,810		-		-		201,810
		Total available-for-sale securities	$	1,081,363	$	5,198	$	-	$	1,086,561
		31-Dec-14
		US Treasury Notes	$	879,553	$	8,428	$	-	$	887,891
		Certificates of deposit		201,772		-		-		201,722
		Total available-for-sale securities	$	1,081,325	$	8,428	$	-	$	1,089,753

DERIVATIVE_WARRANT_LIABILITY_T

DERIVATIVE WARRANT LIABILITY (Tables)	3 Months Ended
	Mar. 31, 2015
Changes in the Fair Value of the Derivative Liability [Table Text Block]				March 31,			December 31,
				2015			2014
		Beginning balance	$	(348,450	)	$	-
		Issuance of Special Warrants		(3,472,500	)		(1,951,423	)
		Exercise of Special Warrants		207,250			165,628
		Change in fair value		406,700			1,437,345
		Ending balance	$	(3,207,000	)	$	(348,450	)
Fair Value Assumptions of Derivative Liability [Table Text Block]				March 31,			December 31,
				2015			2014
		Dividend yield		-			-
		Expected volatility		94.96%			91.07% - 137.42%
		Risk-free interest rate		0.03% - 0.26%			0.04% - 0.14%
		Expected life (years)		-			0.10 - 1.0

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS EQUITY (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Warrants, Valuation Assumptions [Table Text Block]		Risk-free interest rate		0.04%
		Expected volatility		58.97%
		Expected life (years)		0.3
		Fair value	$	-
Schedule of Share-based Compensation, Stock Options, and Warrants or Rights Activity [Table Text Block]		Shares Underlying
		Outstanding Warrants		Exercise Price	Expiration Date
		22,572,827	$	0.75	Dec-15
		12,069,099		0.8	Dec-15
		26,725,000 *		0.2	Feb-16
		8,896,901		0.95	Nov-16
		7,458,333		0.45	Mar-19
		77,722,160

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]		Dividend yield	-
		Expected volatility	165.70%
		Risk-free interest rate	0.02 – 0.21%
		Expected life (years)	0.10 – 0.80
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]									Weighted
									Average
						Weighted			Remaining
						Average Grant		Weighted	Contractual		Aggregate
			Number of			Date Fair		Average	Life		Intrinsic
			Shares			Value		Exercise Price	(Years)		Value
		Outstanding, December 31, 2014	17,054,697		$	0.32	$	0.58	3.17
		Options/warrants granted	-			-		-	-
		Options/warrants exercised	(200,000	)		0.38		0.05	-
		Options/warrants expired	-			-		-	-
		Options/warrants cancelled	-			-		-	-
		Outstanding, March 31, 2015	16,854,697		$	0.32	$	0.59	2.95	$	694,800
		Exercisable, March 31, 2015	13,024,697		$	0.42	$	0.76	1.92	$	658,400
Schedule of Nonvested Share Activity [Table Text Block]						Weighted Average
			Number of			Grant Date
			Shares			Fair Value
		Unvested, December 31, 2014	3,830,000		$	0.28
		Granted	-			-
		Vested	-			-
		Unvested, March 31, 2015	3,830,000		$	0.28

INCOME_TAXES_Tables

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]				March 31,			December 31,
				2015			2014
		Deferred income tax assets:
		Net operating loss carryforward	$	12,331,716		$	11,932,233
		Option compensation		1,893,770			1,906,018
		Property, plant & equipment		879,032			841,689
		Exploration costs		470,201			478,937
		Asset retirement obligation		235,318			235,318
		Gross deferred income tax assets		15,810,037			15,394,195
		Less: valuation allowance		(10,319,661	)		(9,902,688	)
		Net deferred income tax assets		5,490,376			5,491,507
		Deferred income tax liabilities:
		Unrealized gain on investments		(1,819	)		(2,950	)
		Acquisition related liabilities		(5,488,557	)		(5,488,557	)
		Net deferred income tax liabilities	$	-		$	-
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]				March 31,			March 31,
				2015			2014
		Income tax benefit based on statutory tax rate	$	221,904		$	480,274
		Reconciling items:
		Non-deductible items		193,938			111,789
		Change in valuation allowance		(416,973	)		(592,832	)
		Income tax expense	$	(1,131	)	$	(769	)

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]				Minimum
				Lease		Sublease		Net Lease
				Commitment		Income		Commitment
		2016	$	51,238	$	8,335	$	42,903
		2017		53,288		-		53,288
		2018		17,993		-		17,933
			$	122,519	$	8,335	$	114,184

OTHER_COMPREHENSIVE_LOSS_Table

OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2015
Tax Effects of Comprehensive Loss [Table Text Block]				31-Mar-15			31-Mar-14
		Unrealized holding losses	$	(3,230	)	$	(2,197	)
		Income tax benefit - OCI		1,131			769
		Total unrealized loss, net of tax	$	(2,099	)	$	(1,428	)

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Transactions Between the Company and NMC [Table Text Block]				March 31,		March 31,
				2015		2014
		Reimbursement of expenses	$	5,168	$	13,437
		Consulting services provided		105,000		105,000
		Mineral and exploration
		expense – related party	$	110,168	$	118,437

DESCRIPTION_OF_BUSINESS_HISTOR1

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Narrative) (Details) (USD $)	3 Months Ended		169 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$492,240	$1,374,408	$49,132,499
Development Stage Enterprise, Deficit Accumulated During Development Stage	49,135,878		49,135,878
Other Comprehensive Income (Loss), Net of Tax			$3,379
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	94,576,857	74,979,025
Maximum [Member]
Property, Plant and Equipment, Useful Life	20 years
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years

PROPERTY_AND_EQUIPMENT_Narrati

PROPERTY AND EQUIPMENT (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Depreciation	$180,494	$234,724

MINERAL_PROPERTIES_Narrative_D

MINERAL PROPERTIES (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended	12 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Feb. 29, 2008	Dec. 31, 2014	Nov. 30, 2012	Aug. 31, 2014	Feb. 20, 2008	Feb. 19, 2008
Equity Issuance, Per Share Amount	$0.20
Payments to Acquire Property, Plant, and Equipment	$130,170	$0
Columbus Project [Member]
Mineral Property, Interest Held							100.00%	15.00%
Net Smelter Return Royalty Percentage			5.00%
Stock Issued During Period, Shares, Acquisitions			10,440,087
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued			5,220,059
Elected not to renew acquired mining claims						51.00%
Other Asset Impairment Charges				16,136,105
Reclamation bonds [Member]
Cash bonding	39,719			39,719
Restricted Investments	1,086,561			1,089,753
Exceeded bonding requirements	7,176			10,368
Asset Retirement Obligation [Member]
Asset Retirement Obligation	672,338
Adjusted risk free rate of assets retirement obligation	4.31%
Adjusted inflation rate of assets retirement obligation				3.21%
DDB Claims [Member]
Payments to Acquire Property, Plant, and Equipment					180,080
Elected not to renew acquired mining claims						61.00%
Other Asset Impairment Charges				$109,849

DERIVATIVE_WARRANT_LIABILITY_N

DERIVATIVE WARRANT LIABILITY (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Warrants and Rights Outstanding	$18,650,000	$14,200,000
Development Stage Entities, Equity Issuance, Per Share Amount	$0.20
Special Warrants 2014 were converted into Special Warrants 2015	8,075,000
Special Warrants 2014 were converted into units	6,125,000

STOCKHOLDERS_EQUITY_Narrative_

STOCKHOLDERS EQUITY (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2014	Jan. 15, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	-200,000
Development Stage Entities, Equity Issuance, Per Share Amount	$0.20
Warrants and Rights Outstanding	$18,650,000	$14,200,000	$14,200,000
Payments of Stock Issuance Costs	3,864	20,610
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.59			$0.58
Class of Warrant or Right, Outstanding	77,722,160
Common Stock, Shares Authorized	400,000,000			400,000,000
Common Stock, Par or Stated Value Per Share	$0.00			$0.00
Proceeds from Issuance of Common Stock	3,740,000	2,840,000
Fair Value of Warrants Amended	0
Fair Value Assumptions Warrants Expected Life	0 years 3 months 18 days
Expiration Date December 2015 1 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.75
Class of Warrant or Right, Outstanding	22,572,827
Expiration Date December 2015 2 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.80
Class of Warrant or Right, Outstanding	12,069,099
Expiration Date February 2016 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.20
Class of Warrant or Right, Outstanding	26,725,000
Expiration Date November 2016 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.95
Class of Warrant or Right, Outstanding	8,896,901
Expiration Date March 2019 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.45
Class of Warrant or Right, Outstanding	7,458,333
2015 Special Warrant Offering [Member]
Sale of Special Warrants	18,650,000
Special Warrant Price	0.2
Proceeds for Sale of Special Warrants	3,730,000
Qualified Financing Defined Proceeds	7,000,000
Total fees related to issuance of Special Warrants	3,864
Special Warrants 2014 Exchanged for Special Warrants 2015	8,075,000
Exercise of 2014 Special Warrants [Member]
Investment Warrants, Exercise Price	$0.40
Special Warrants Exercised	3,425,000
Exercise of Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	200,000
Proceeds from Stock Options Exercised	10,000
2014 Special Warrant Offering [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$0.40	$0.40
Payments of Stock Issuance Costs		20,610
Sale of Special Warrants		14,200,000
Special Warrant Price		0.2
Proceeds for Sale of Special Warrants		2,840,000	2,840,000
Private Placement Offering to NMC [Member]
Investment Warrants, Exercise Price	$0.40
Component of units issued during period per unit amount			$0.20
Proceeds from Issuance of Common Stock			$300,000
Additional Share of Common Stock at a Price Equal to Percent of the Per Unit Purchase Price			200.00%
Warrant Amendment [Member] | Private Placement [Member]
Amended warrants					22,572,827
Warrant Amendment [Member] | Consultant [Member]
Class of warrants or rights, issued					4,000,000
Private Placement and Acquisition Warrants [Member]
Investment Warrants, Exercise Price				$0.40

STOCKBASED_COMPENSATION_Narrat

STOCK-BASED COMPENSATION (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2007	Feb. 28, 2015	Jan. 31, 2014	Dec. 31, 2014	Mar. 27, 2007	Feb. 25, 2015	Jan. 17, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Development Stage Entities, Equity Issuance, Per Share Amount	$0.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	16,854,697					17,054,697
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	13,024,697
Share-based Compensation	$41,625	$103,511
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized	44,359
Income Tax Expense (Benefit)	1,131	769
Share Based Compensation Arrangement Weighted Average Period Cost Recognized	1 year 3 months 25 days
Stock option plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							6,000,000
Increase equal to total number of outstanding shares			15.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	12,054,697
Share-based Compensation Arrangement by Share-based Payment Award, Options, Issued, Number	13,996,916
Stock option granted, weighted average exercise price	$0.49
650,531 stock options amended by extending their expiration dates [Member]
Extended expiration date stock options								650,531
Stock option granted, weighted average exercise price								$0.64
Share-based Compensation				$25,387
Company granted non-qualified stock options for an aggregate of 325,000 shares at an exercise price of 0.28 per option 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures					325,000
Stock option granted, weighted average exercise price									$0.28
Company granted non-qualified stock options for an aggregate of 325,000 shares at an exercise price of 0.28 per option 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures					325,000
Stock option granted, weighted average exercise price									$0.28
Company granted non-qualified stock options for an aggregate of 1,250,000 shares at an exercise price of 0.28 per option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures					1,250,000
Stock option granted, weighted average exercise price									$0.28
Remaining options vesting rate					25.00%

INCOME_TAXES_Narrative_Details

INCOME TAXES (Narrative) (Details) (USD $)	99 Months Ended	169 Months Ended
	Mar. 31, 2015	Mar. 31, 2015
Federal net operating loss carryforward	$0	$35,233,478

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2007	Apr. 30, 2012	Nov. 30, 2012
Lease obligations [Member]
Operating Leases, Rent Expense	$14,629	$14,479
Payments For Rent Increase	4.00%
Payment For Operating Expenses	748
Columbus Project [Member]
Net Smelter Return Royalty Percentage			5.00%
Standby Letters of Credit [Member]
Stand By Letter Of Credit Value	100,000
Certificates of Deposit, at Carrying Value	100,000
Required to pay of the total value of the letter of credit	2.00%
Consultant Bonus [Member]
Contingent Consultant Bonus Cash Value				400,000
Contingent Consultant Bonus Number of Warrants				3,000,000
Contingent Consultant Bonus Exercise Price Of Warrants				0.9
Registration Payment Arrangement, Arrangement [Domain] [Member]
Registration Payment Arrangement Cash Penalties of Subscription Proceeds					1.00%
Registration Payment Arrangement, Maximum potential penalty	5,757
Registration Payment Arrangement, Arrangement [Domain] [Member] | Maximum [Member]
Registration Payment Arrangement Cash Penalties of Subscription Proceeds					6.00%
Registration Payment Arrangement, Maximum potential penalty					346,979

CONCENTRATIONS_Narrative_Detai

CONCENTRATIONS (Narrative) (Details) (USD $)	Mar. 31, 2015
Cash, FDIC Insured Amount	$250,000
Cash, Uninsured Amount	$2,774,910

RELATED_PARTY_TRANSACTIONS_Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended	7 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Aug. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
Rental Income, Nonoperating	$55,001	$8,457
Due to Related Parties, Current	23,290			23,290	23,290
Other Receivables, Net, Current	5,886			5,886	6,380
NMC [Member]
Majority Stockholder Ownership Percentage	28.20%
Due to Related Parties, Current	347,719			347,719	237,551
Former officers [Member]
Due to Related Parties, Current	23,290			23,290
Searchlight Minerals Corp [Member]
Rental Income, Nonoperating	5,001	8,457
Due from Related Parties, Current	3,334			3,334
Searchlight Minerals Corp [Member] | Payments for the first year [Member]
Rental Income, Nonoperating			2,819
Searchlight Minerals Corp [Member] | Payments after the first year [Member]
Rental Income, Nonoperating				1,667
Cactus Mining [Member]
Related Party Transaction, Amounts of Transaction	$50,000

Property_Plant_and_Equipment_D

Property, Plant and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Cost	$5,610,021	$5,479,852
Accumulated depreciation	-4,340,839	-4,160,346
Net book value	1,269,182	1,319,506
Furniture and fixtures [Member]
Cost	61,405	61,405
Accumulated depreciation	-31,918	-28,896
Net book value	29,487	32,509
Computers and equipment [Member]
Cost	52,275	52,275
Accumulated depreciation	-28,658	-26,162
Net book value	23,617	26,113
Land [Member]
Cost	30,000	30,000
Accumulated depreciation	0	0
Net book value	30,000	30,000
Site improvements [Member]
Cost	2,925,731	2,925,731
Accumulated depreciation	-2,645,902	-2,553,280
Net book value	279,829	372,451
Site equipment [Member]
Cost	2,017,015	1,886,846
Accumulated depreciation	-1,364,933	-1,295,080
Net book value	652,082	591,766
Vehicles [Member]
Cost	23,595	23,595
Accumulated depreciation	-23,595	-23,595
Net book value	0	0
Building [Member]
Cost	500,000	500,000
Accumulated depreciation	-245,833	-233,333
Net book value	$254,167	$266,667

Schedule_of_Mineral_Properties

Schedule of Mineral Properties (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Ending Balance	$15,882,179	$15,882,179
Columbus Project [Member]
Ending Balance	15,811,948	15,811,948
DDB Claims [Member]
Ending Balance	$70,231	$70,231

Schedule_of_Restricted_Investm

Schedule of Restricted Investments (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Amortized Cost	$1,081,363	$1,081,325
Gross Unrealized Gains	5,198	8,428
Gross Unrealized Losses	0	0
Aggregate Estimated Fair Value	1,086,561	1,089,753
US Treasury Notes [Member]
Amortized Cost	879,553	879,553
Gross Unrealized Gains	5,198	8,428
Gross Unrealized Losses	0	0
Aggregate Estimated Fair Value	884,751	887,891
Certificates of deposit [Member]
Amortized Cost	201,810	201,772
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Aggregate Estimated Fair Value	$201,810	$201,722

Changes_in_the_Fair_Value_of_t

Changes in the Fair Value of the Derivative Liability (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Beginning balance	($348,450)	$0
Issuance of Special Warrants	-3,472,500	-1,951,423
Exercise of Special Warrants	207,250	165,628
Change in fair value	406,700	1,437,345
Ending balance	($3,207,000)	($348,450)

Fair_Value_Assumptions_of_Deri

Fair Value Assumptions of Derivative Liability (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Dividend yield	0.00%	0.00%
Expected volatility	94.96%
Expected life (years)	0 years
Maximum [Member]
Expected volatility		137.42%
Risk-free interest rate	0.26%	0.14%
Expected life (years)		1 year
Minimum [Member]
Expected volatility		91.07%
Risk-free interest rate	0.03%	0.04%
Expected life (years)		0 years 1 month 6 days

Schedule_of_Warrants_Valuation

Schedule of Warrants, Valuation Assumptions (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Risk-free interest rate	0.04%
Expected volatility	58.97%
Expected life (years)	0 years 3 months 18 days
Fair value of warrants amended	$0

Schedule_of_Stockholders_Equit

Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	Mar. 31, 2015
Class of Warrant or Right, Outstanding	77,722,160
Expiration Date December 2015 1 [Member]
Class of Warrant or Right, Outstanding	22,572,827
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.75
Expiration Date December 2015 2 [Member]
Class of Warrant or Right, Outstanding	12,069,099
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.8
Expiration Date February 2016 [Member]
Class of Warrant or Right, Outstanding	26,725,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.2
Expiration Date November 2016 [Member]
Class of Warrant or Right, Outstanding	8,896,901
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.95
Expiration Date March 2019 [Member]
Class of Warrant or Right, Outstanding	7,458,333
Class of Warrant or Right, Exercise Price of Warrants or Rights	0.45

Schedule_of_Sharebased_Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	165.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.02%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	0.21%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	0 years 9 months 18 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	0 years 1 month 6 days

Schedule_of_Sharebased_Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	1 Months Ended	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period		17,054,697
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Grant Date Fair Value, Beginning of Period	0.32	0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period		$0.58
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term, Beginning of Period	3 years 2 months 1 day	2 years 11 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$694,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$0
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Options, Granted Weighted Average Remaining Contractual Term		0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		-200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Grant Date Fair Value		0.38
Share-based Compensation Arrangement By Share Based Payment Award, Exercised, Weighted Average Exercise Price		0.05
Share-based Compensation Shares Authorized Under Stock Option Plans, Exercise Price Range, Options Exercised Weighted Average Remaining Contractual Term		0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Grant Date Fair Value		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price		$0
Share-based Compensation Shares Authorized Under Stock Option Plans, Exercise Price Range, Options Expired, Weighted Average Remaining Contractual Term		0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Grant Date Fair Value		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price		$0
Share-based Compensation Shares Authorized Under Stock Option Plans, Exercise Price Range, Options Cancelled, Weighted Average Remaining Contractual Term		0 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period	17,054,697	16,854,697
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Grant Date Fair Value, End of Period	0.32	0.32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period	$0.58	$0.59
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term, End of Period	3 years 2 months 1 day	2 years 11 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value, End of Period		694,800
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, End of Period			13,024,697
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Grant Date Fair Value, End of Period		$0.42
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, End of Period			$0.76
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term, End of Period		1 year 11 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value, End of Period		$658,400

Schedule_of_Nonvested_Share_Ac

Schedule of Nonvested Share Activity (Details)	3 Months Ended
	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Outstanding Number	3,830,000
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Outstanding Weighted Average Grant Date Fair Value	0.28
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Net of Forfeitures	0
Share-based Compensation, Options Subject to Vesting, Grants in Period, Weighted Average Grant Date Fair Value	0
Share Based Compensation Arrangement By Share Based Payment Award Vested Options Outstanding Number	0
Share Based Compensation Arrangement By Share Based Payment Award Vested Options Weighted Average Grant Date Fair Value	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	0
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Outstanding Number	3,830,000
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Weighted Average Grant Date Fair Value	0.28

Schedule_of_Deferred_Tax_Asset

Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Net operating loss carryforward	$12,331,716	$11,932,233
Option compensation	1,893,770	1,906,018
Property, plant and equipment	879,032	841,689
Exploration costs	470,201	478,937
Reclamation and remediation costs	235,318	235,318
Gross deferred income tax assets	15,810,037	15,394,195
Less: valuation allowance	-10,319,661	-9,902,688
Net deferred income tax assets	5,490,376	5,491,507
Unrealized gains on investments	-1,819	-2,950
Acquisition related liabilities	-5,488,557	-5,488,557
Net deferred income tax liabilities	$0	$0

Schedule_of_Components_of_Inco

Schedule of Components of Income Tax Expense (Benefit) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income tax benefit based on statutory tax rate	$221,904	$480,274
Non-deductible items	193,938	111,789
Change in valuation allowance	-416,973	-592,832
Income tax benefit	($1,131)	($769)

Schedule_of_Future_Minimum_Ren

Schedule of Future Minimum Rental Payments for Operating Leases (Details) (USD $)	Mar. 31, 2015
Minimum Lease Commitment [Member]
2016	$51,238
2017	53,288
2018	17,993
Future Minimum Payments Due Total	122,519
Sublease Income [Member]
2016	8,335
2017	0
2018	0
Future Minimum Payments Due Total	8,335
Net Lease Commitment [Member]
2016	42,903
2017	53,288
2018	17,933
Future Minimum Payments Due Total	$114,184

Tax_Effects_of_Comprehensive_L

Tax Effects of Comprehensive Loss (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Unrealized holding gains/losses	($3,230)	($2,197)
Income tax (expense) benefit	1,131	769
Unrealized (loss) gain on investments, net of tax	($2,099)	($1,428)

Schedule_of_Transactions_Betwe

Schedule of Transactions Between the Company and NMC (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
NMC [Member]
Reimbursement of expenses	$5,168	$13,437
Consulting services provided	105,000	105,000
Mineral and exploration expense related party	110,168	118,437
Related Party Transactions [Member]
Mineral and exploration expense related party	110,168	118,437
General [Member]
Mineral and exploration expense related party	$436,917	$801,795

Schedule_Of_Private_Placement_

Schedule Of Private Placement Warrants Activity (Details)	Mar. 31, 2015
Class of Warrant or Right, Outstanding, Beginning of Period	77,722,160
Class of Warrant or Right, Outstanding, End of Period	77,722,160