Ireland (IRLD) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 11, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Trading Symbol	irld
Entity Registrant Name	IRELAND INC.
Entity Central Index Key	1,166,338
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		272,898,347
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash	$ 3,364,485	$ 56,359
Other receivables	3,646	2,279
Prepaid expenses	144,930	93,488
Total current assets	3,513,061	152,126
Property and equipment, net	1,061,467	749,753
Mineral properties	8,239,934	8,239,934
Reclamation bonds	1,115,191	1,115,153
Deposits	10,262	10,262
Total non-current assets	10,426,854	10,115,102
Total assets	13,939,915	10,267,228
Current liabilities
Accounts payable	192,076	772,720
Accounts payable - related party	44,036	761,442
Accrued payroll and related taxes	109,632	170,673
Convertible notes, net of discount	48,652	139,967
Due to related party	23,290	1,060,290
Total current liabilities	417,686	2,905,092
Long-term liabilities
Asset retirement obligation	672,338	672,338
Total long-term liabilities	672,338	672,338
Total liabilities	1,090,024	3,577,430
Commitments and contingencies	0	0
Stockholders' equity
Common stock, $0.001 par value; 400,000,000 shares authorized, 272,057,380 and 181,472,875 shares, respectively, issued and outstanding	272,057	181,471
Additional paid-in capital	75,310,296	67,960,874
Accumulated deficit	(62,732,462)	(61,452,547)
Total stockholders' equity	12,849,891	6,689,798
Total liabilities and stockholders' equity	$ 13,939,915	$ 10,267,228

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	272,057,380	181,472,875
Common Stock, Shares, Outstanding	272,057,380	181,472,875

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 0	$ 0
Operating expenses
Mineral exploration and evaluation expenses	258,507	262,015
Mineral exploration and evaluation expenses - related party	134,307	215,936
General and administrative	798,916	1,317,049
Depreciation	81,873	83,656
Total operating expenses	1,273,603	1,878,656
Loss from operations	(1,273,603)	(1,878,656)
Other income (expense)
Interest income	2,323	1,710
Rental income - related party	5,409	5,202
Interest expense	(14,044)	(544)
Total other income (expense)	(6,312)	6,368
Loss before income taxes	(1,279,915)	(1,872,288)
Income tax expense	0	0
Net loss	$ (1,279,915)	$ (1,872,288)
Loss per common share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average common shares outstanding - basic and diluted	202,675,305	166,912,710

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Dec. 31, 2015	$ 158,696	$ 66,406,028	$ (49,116,868)	$ 17,447,856
Beginning Balance (Shares) at Dec. 31, 2015	158,697,875
Stock-based compensation		983,413		983,413
Investor relations expense				0
Exercise of Special Warrants, net	$ 22,775	(23,150)		(375)
Exercise of Special Warrants, net (Shares)	22,775,000
Net loss			(1,872,288)	(1,872,288)
Ending Balance at Mar. 31, 2016	$ 181,471	67,366,291	(50,989,156)	16,558,606
Ending Balance (Shares) at Mar. 31, 2016	181,472,875
Beginning Balance at Dec. 31, 2016	$ 181,471	67,960,874	(61,452,547)	6,689,798
Beginning Balance (Shares) at Dec. 31, 2016	181,472,875
Stock-based compensation		153,701		153,701
Investor relations expense		97,000		97,000
Exercise of stock options	$ 1,100	56,900		$ 58,000
Exercise of stock options (Shares)	1,100,000			(1,100,000)
Exercise of stock warrants	$ 38,458	3,038,016		$ 3,076,474
Exercise of stock warrants (Shares)	38,455,921
Debt and accrued interest converted into shares	$ 1,659	104,546		106,205
Debt and accrued interest converted into shares (Shares)	1,659,461
Issuance of common stock in private placement,	$ 49,369	3,899,259		3,948,628
Issuance of common stock in private placement, (Shares)	49,369,123
Net loss			(1,279,915)	(1,279,915)
Ending Balance at Mar. 31, 2017	$ 272,057	$ 75,310,296	$ (62,732,462)	$ 12,849,891
Ending Balance (Shares) at Mar. 31, 2017	272,057,380

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (PARENTHETICAL) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Shares Issued, Price Per Share	$ 0.08
Financing issuance costs	$ 902	$ 375

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,279,915)	$ (1,872,288)
Adjustments to reconcile loss from operations to net cash used in operating activities:
Depreciation	81,873	83,656
Stock-based compensation	153,701	983,413
Investor relations expense	97,000	0
Amortization of debt discount	8,685	0
Changes in operating assets and liabilities:
Other receivables	(1,367)	3,266
Prepaid expenses	(51,442)	101,381
Reclamation bonds and other deposits	(38)	6,146
Accounts payable and accrued liabilities	(366,656)	456,671
Net cash used in operating activities	(1,358,159)	(237,755)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(393,587)	0
Net cash used by investing activities	(393,587)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from private placements	2,044,000	0
Proceeds from exercise of stock options and warrants	3,016,774	0
Advances due to related party	0	145,000
Financing issuance costs	(902)	(375)
Net cash provided by financing activities	5,059,872	144,625
NET CHANGE IN CASH	3,308,126	(93,130)
CASH AT BEGINNING OF PERIOD	56,359	103,343
CASH AT END OF PERIOD	3,364,485	10,213
SUPPLEMENTAL INFORMATION
Interest paid	2,797	544
Income taxes paid	0	0
Non-cash investing and financing activities:
Accounts payable, accrued liabilities and amounts due to related party settled with issuance of common stock at $0.08 per share	1,998,230	0
Accounts payable settled with issuance of common stock at $0.05 per share	25,000	0
Convertible notes and accrued interest converted into shares of common stock at $0.064 per share	$ 106,205	$ 0

DESCRIPTION OF BUSINESS, HISTOR

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES	3 Months Ended
	Mar. 31, 2017
DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES [Text Block]	1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES Description of business History Basis of presentation Going concern If the Company continues to incur operating losses and does not raise sufficient additional capital, material adverse events may occur including, but not limited to, 1) a reduction in the nature and scope of the Company’s operations and 2) the Company’s inability to fully implement its current business plan. There can be no assurance that the Company will successfully improve its liquidity position. The accompanying consolidated financial statements do not reflect any adjustments that might be required resulting from the adverse outcome relating to this uncertainty. As of March 31, 2017, the Company had cumulative net losses of $62,732,462 from operations and had not commenced its commercial mining and mineral processing operations; rather it is still in the exploration stage. For the quarter ended March 31, 2017, the Company incurred a net loss of $1,279,915, had negative cash flows from operating activities of $1,358,159 and will incur additional future losses due to planned continued exploration expenses. During the quarter ended March 31, 2017, the Company raised $5,060,774 in cash and settled $2,023,230 in current obligations through completion of a private placement and through warrant and stock option exercises. Management believes that these funds will allow the Company to continue its operations for the next twelve months. Additionally, the Company may reduce expenses and defer payment of certain obligations where available. The Company is focused on continuing to reduce costs and obtaining additional funding. There is no assurance that such funding will be available on terms acceptable to the Company, or at all. If the Company raises additional funds by selling additional shares of capital stock, securities convertible into shares of common stock or the issuance of convertible debt, the ownership interest of the Company’s existing common stock holders will be diluted. Principles of consolidation Use of estimates Mineral properties Mineral exploration and development costs Property and equipment Impairment of long-lived assets 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 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. Per share amounts Stock-based compensation 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 consolidated 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 consolidated financial statements. Short-term inducements are treated as a modification of an existing award in the period the holder accepts the offer. 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 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 In August 2016, the FASB issued ASU No. 2016-15, which clarifies diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update to the standard is effective for the Company beginning January 1, 2018, with early application permitted. The Company is evaluating the effect the guidance will have on its consolidated financial statements. In March 2016, ASU No. 2016-09 was issued related to stock based compensation. The guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The update to the standard is effective beginning June 1, 2017, with early application permitted. Adoption of the new guidance is being evaluated. In February 2016, ASU No. 2016-02 was issued related to leases. The new guidance modifies the classification criteria and requires lessees to recognize the assets and liabilities arising from most leases on the balance sheet. This update is effective in fiscal years beginning after December 15, 2018, and early adoption is permitted. Adoption of the new guidance is being evaluated.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2017
PROPERTY AND EQUIPMENT [Text Block]	2. PROPERTY AND EQUIPMENT Property and equipment consisted of the following: March 31, 2017 December 31, 2016 Accumulated Net book Accumulated Net book Cost depreciation value Cost depreciation value Furniture and fixtures $ 61,405 $ (55,525 ) $ 5,880 $ 61,405 $ (53,072 ) $ 8,333 Computers and equipment 55,626 (43,561 ) 12,065 57,785 (46,548 ) 11,237 Land 30,000 - 30,000 30,000 - 30,000 Site improvements 2,925,731 (2,788,356 ) 137,375 2,925,731 (2,783,133 ) 142,598 Site equipment 2,570,135 (1,848,155 ) 721,980 2,179,803 (1,788,885 ) 390,918 Vehicles 23,595 (23,595 ) - 23,595 (23,595 ) - Building 500,000 (345,833 ) 154,167 500,000 (333,333 ) 166,667 $ 6,166,492 $ (5,105,025 ) $ 1,061,467 $ 5,778,319 $ (5,028,566 ) $ 749,753 Depreciation expense was $81,873 and $83,656 for the quarters ended March 31, 2017 and 2016, respectively.

MINERAL PROPERTIES

MINERAL PROPERTIES	3 Months Ended
	Mar. 31, 2017
MINERAL PROPERTIES [Text Block]	3. MINERAL PROPERTIES Mineral Properties Reclamation Bonds Asset Retirement Obligation

CONVERTIBLE NOTES

CONVERTIBLE NOTES	3 Months Ended
	Mar. 31, 2017
CONVERTIBLE NOTES [Text Block]	4. CONVERTIBLE NOTES During the year ended December 31, 2016, the Company entered into convertible note agreements in the amount $150,000. The notes accrue interest at 10% and mature $100,000 in June 2017 and $50,000 in July 2017. The notes may be converted into units at a conversion price of $0.20 with each unit consisting of one share of common stock and one warrant exercisable at $0.30 per share for a period of 5 years. Alternatively, if the Company completes a subsequent equity financing, the lender may convert the notes into common stock or common stock equivalents that the lender would have been entitled to had the lender participated in the subsequent equity financing at an aggregate subscription price equal to 125% of the full amount of the outstanding principal and any accrued but unpaid interest thereon at the date the conversion right is exercised (Alternative Conversion Option). The Alternative Conversion Option is an embedded conversion feature which is required to be bifurcated and accounted for under derivative accounting; however, the amount was determined to be immaterial. As additional consideration, the Company issued 600,000 detachable warrants. The warrants are exercisable at $0.20 per share expiring 400,000 in June 2021 and 200,000 in July 2021. The note proceeds were allocated between the two elements based on their relative fair values. The fair value of the warrants, in the amount of $20,000 was recorded as a debt discount and is being amortized to interest expense over the terms of the notes. The Company used the following assumptions to estimate the fair of the warrants: Dividend yield - Expected volatility 126.58% Risk-free interest rate 1.01 – 1.10% Expected life (years) - 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. During the quarter ended March 31, 2017, $100,000 of convertible notes and $6,205 of accrued interest were converted into shares of common stock at $0.064 per share through use of the Alternative Conversion Option. The carrying value of the convertible notes, net of discount was comprised of the following at March 31, 2017: Convertible notes at face value $ 50,000 Unamortized discount (1,348 ) Convertible notes, net of discount $ 48,652 Interest expense related to the convertible notes included the following for the quarter ended March 31, 2017: Interest rate at 10% $ 2,562 Amortization of debt discount 8,685 Total interest expense on convertible notes $ 11,247 Subsequent to quarter end, the remaining convertible note and accrued interest was converted into shares of common stock at a price of $0.064 per share.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	Mar. 31, 2017
STOCKHOLDERS EQUITY [Text Block]	5. STOCKHOLDERS’ EQUITY During the quarter ended March 31, 2017, stockholders’ equity activity consisted of the following: Warrant modifications and inducements Additionally, the Company had 35,133,333 warrants outstanding expiring on various dates through July 2021. Such warrants were issued in private placement transactions completed between 2014 and 2016 and had a weighted average exercise price of $0.53 per share. Effective December 27, 2016, the Company temporarily reduced the exercise price of each warrant to $0.08 per share for a period expiring January 31, 2017 after which, the warrants are exercisable at their original terms. On January 17, 2017, the temporary reduction period was extended to February 17, 2017. The Company issued 9,700,000 shares of common stock from the exercise of warrants during the inducement period resulting in investor relations expense of $97,000. Proceeds received from warrant exercises included $2,983,774 in cash and settlement of $92,700 of accounts payable. The Company used the following assumptions to estimate the fair values of the warrant extensions: Dividend yield - Expected volatility 117.37% Risk-free interest rate 0.50 – 0.52% Expected life (years) - Private placement Stock option exercises During the quarter ended March 31, 2016, stockholders’ equity activity consisted of the following: Special Warrants At March 31, 2017, the Company’s outstanding warrants issued in financing transactions consisted of the following: Shares Underlying Outstanding Warrants Exercise Price Expiration Date 5,050,000 0.40 March 2019 1,333,333 0.45 March 2019 18,650,000 0.40 February 2020 200,000 0.20 June 2021 200,000 0.20 July 2021 25,433,333

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2017
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 Stock warrants Valuation of awards 1. Service-based; 2. Performance-based; and 3. Market-based. The Company used the following assumptions to estimate the fair values of the options granted for the quarters ended: March 31, 2017 March 31, 2016 Dividend yield - - Expected volatility 117.37 – 148.20% 132.45% - 164.23% Risk-free interest rate 0.52 – 1.48% 0.30 - 1.08% Expected life (years) 0.10 – 2.10 0.00 - 3.20 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 or the Company’s common stock depending on the life of the options. 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, 2017, stock based compensation activity was as follows: a) On December 27, 2016, the Company’s Board of Directors unilaterally determined to amend 1,367,197 stock options by extending their expiration dates and reducing their exercise price to $0.08 per share. The options were granted on various dates between 2009 and 2011 and had a weighted average exercise price of $0.61 per share. The expiration dates of all of the options were extended to January 31, 2017. On January 17, 2017, the Board of Directors unilaterally determined to further extend the expiration dates and reduced exercise price period to February 17, 2017. The modification resulted in incremental compensation cost of $2,587. No options were exercised during the inducement period. Additionally, the Company’s Board of Directors unilaterally determined to amend 7,600,000 stock options by temporarily reducing their exercise price to $0.08 per share for a period ending January 31, 2017. The options were granted on various dates between 2010 and 2015 and had a weighted average exercise price of $0.56 per share. On January 17, 2017, the Board of Directors unilaterally determined to further extend the reduced exercise price period to February 17, 2017. After the inducement period the options are exercisable under their previous terms. During the inducement period, 100,000 stock options were exercised for gross proceeds of $8,000. Compensation cost related to the exercise was $2,028. The Company’s Board of Directors also unilaterally determined to amend 4,800,000 warrants by extending their expiration dates and reducing their exercise price to $0.08 per share. The warrants were granted to consultants on various dates between 2009 and 2011 and had a weighted average exercise price of $0.74 per share. The expiration dates of all of the warrants were extended to January 31, 2017. On January 17, 2017, the Board of Directors unilaterally determined to further extend the expiration dates and reduced exercise price period to February 17, 2017. The modification resulted in no incremental compensation cost. No warrants were exercised during the inducement period. Additionally, the Company’s Board of Directors unilaterally determined to amend 4,950,000 warrants by temporarily reducing their exercise price to $0.08 per share for a period ending January 31, 2017. The warrants were granted to consultants on February 26, 2016 and had a weighted average exercise price of $0.40 per share. On January 17, 2017, the Board of Directors unilaterally determined to further extend the reduced exercise price period to February 17, 2017. After the inducement period the warrants are exercisable under their previous terms. No warrants were exercised during the inducement period. b) On February 17, 2017, the Company granted 300,000 warrants to a consultant exercisable at a price of $0.14 per share for a period expiring on February 17, 2020. The warrants were issued in consideration for services provided. During the quarter ended March 31, 2016, stock based compensation activity was as follows: a) On March 25, 2016, the Company’s Board of Directors unilaterally determined to amend 3,067,197 stock options by extending their expiration dates. The options were granted at various dates between 2009 and 2015 and have a weighted average exercise price of $0.49 per share. The expiration dates of all of the options were extended to December 31, 2016. In all other respects, the terms and conditions of the options remain the same. b) On February 26, 2016, the Company granted 4,950,000 warrants to consultants exercisable at a price of $0.40 per share for a period expiring on February 28, 2020. The warrants were issued in consideration for services provided. 4,500,000 of the warrants were granted to NMC who is a related party as discussed in Note 10. The total expense related to the granting, vesting and modification of all stock-based compensation awards was $153,701 and $983,413 for the quarters ended March 31, 2017 and 2016, respectively. Such expenses are included in general and administrative expense and mineral exploration and evaluation expense on the consolidated statements of operations. For the quarter ended March 31, 2017, the Company received $58,000 from the exercise of stock options; the related tax benefit amounted to $26,600 and the intrinsic value was $76,000. For the quarter ended March 31, 2016, no stock options were exercised. The following table summarizes the Company’s stock-based compensation activity for the quarter ended March 31, 2017: Weighted Weighted Average Average Remaining Grant Weighted Contractual Aggregate Number of Date Fair Average Life Intrinsic Shares Value Exercise Price (Years) Value Outstanding, December 31, 2016 31,562,197 $ 0.20 $ 0.41 2.92 Options/warrants granted 300,000 0.08 0.14 2.88 Options/warrants expired (7,387,197 ) 0.39 0.60 - Options/warrants exercised (1,100,000 ) 0.41 0.05 - Outstanding, March 31, 2017 23,375,000 $ 0.13 $ 0.35 3.69 $ 403,500 Exercisable, March 31, 2017 12,025,000 $ 0.19 $ 0.45 2.22 $ - 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 during the quarter ended March 31, 2017: Weighted Average Number of Grant Date Shares Fair Value Unvested, December 31, 2016 11,350,000 $ 0.12 Granted - - Expired - - Vested - - Unvested, March 31, 2017 11,350,000 $ 0.12 As of March 31, 2017, there was $373,231 of total unrecognized compensation cost related to unvested stock-based compensation awards. The weighted average period over which this cost will be recognized was 0.59 years as of March 31, 2017.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2017
INCOME TAXES [Text Block]	7. INCOME TAXES No income tax expense or benefit was recognized for the quarters ended March 31, 2017 or 2016. The effective tax rates of 0% differed from the U.S. statutory rate of 35% primarily due to valuation allowances on the Company’s net deferred tax assets due to the uncertainty of realizing those assets. The overall effective income tax rate for the year could be different from the effective tax rate for the quarter ended March 31, 2017. A summary of the Company’s deferred tax assets and liabilities and federal net operating loss carryforward are included in Note 8 “Income Taxes” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. 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 decreases in its net operating losses available for carryforward. The Company has losses from inception to date, and thus all years remain open for examination. While the Company believes that its tax filings do not include uncertain tax positions, the results of potential examinations or the effect of changes in tax law cannot be ascertained at this time. The Company does not have any tax returns currently under examination by the Internal Revenue Service.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
COMMITMENTS AND CONTINGENCIES [Text Block]	8. COMMITMENTS AND CONTINGENCIES Lease obligations Rental expense for office space was $15,635 and $15,170 for the quarters ended March 31, 2017 and 2016, respectively. Columbus Project Stand-by letter of credit Consultant bonus

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2017
CONCENTRATIONS [Text Block]	9. CONCENTRATIONS Concentration of credit risk Concentration of activity

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2017
RELATED PARTY TRANSACTIONS [Text Block]	10. RELATED PARTY TRANSACTIONS DOSA NMC The following table provides details of transactions between the Company and NMC for the quarters ended: March 31, March 31, 2017 2016 Reimbursement of expenses $ 29,307 $ 110,936 Consulting services provided 105,000 105,000 Mineral and exploration expense – related party $ 134,307 $ 215,936 At March 31, 2017 and December 31, 2016, the Company owed DOSA $44,036 and $761,442, respectively, for NMC fees and reimbursements. During the quarter ended March 31, 2017, accounts payable of $731,800 were settled with the issuance of 9,147,500 shares of common stock at $0.08 per share and $25,000 of accounts payable were settled with issuance of 500,000 shares of common stock at $0.05 per share. During the year ended December 31, 2016, NMC advanced the Company $1,037,000 for working capital purposes. During the quarter ended March 31, 2017, the amount was settled with issuance of 12,962,500 shares of common stock at $0.08 per share. Pursuant to an option assignment agreement related to the Columbus Project, the Company granted a 5% net smelter return royalty to NMC as further discussed in Note 3. Searchlight Minerals Corp. (“SMC”) Accrued director fees settlement Former officers

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2017
SUBSEQUENT EVENTS [Text Block]	11. SUBSEQUENT EVENTS Convertible notes

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Description of business [Policy Text Block]	Description of business
History [Policy Text Block]	History
Basis of presentation [Policy Text Block]	Basis of presentation
Going concern [Policy Text Block]	Going concern If the Company continues to incur operating losses and does not raise sufficient additional capital, material adverse events may occur including, but not limited to, 1) a reduction in the nature and scope of the Company’s operations and 2) the Company’s inability to fully implement its current business plan. There can be no assurance that the Company will successfully improve its liquidity position. The accompanying consolidated financial statements do not reflect any adjustments that might be required resulting from the adverse outcome relating to this uncertainty. As of March 31, 2017, the Company had cumulative net losses of $62,732,462 from operations and had not commenced its commercial mining and mineral processing operations; rather it is still in the exploration stage. For the quarter ended March 31, 2017, the Company incurred a net loss of $1,279,915, had negative cash flows from operating activities of $1,358,159 and will incur additional future losses due to planned continued exploration expenses. During the quarter ended March 31, 2017, the Company raised $5,060,774 in cash and settled $2,023,230 in current obligations through completion of a private placement and through warrant and stock option exercises. Management believes that these funds will allow the Company to continue its operations for the next twelve months. Additionally, the Company may reduce expenses and defer payment of certain obligations where available. The Company is focused on continuing to reduce costs and obtaining additional funding. There is no assurance that such funding will be available on terms acceptable to the Company, or at all. If the Company raises additional funds by selling additional shares of capital stock, securities convertible into shares of common stock or the issuance of convertible debt, the ownership interest of the Company’s existing common stock holders will be diluted.
Principles of consolidation [Policy Text Block]	Principles of consolidation
Use of estimates [Policy Text Block]	Use of estimates
Mineral properties [Policy Text Block]	Mineral properties
Mineral exploration and development costs [Policy Text Block]	Mineral exploration and development costs
Property and equipment [Policy Text Block]	Property and equipment
Impairment of long-lived assets [Policy Text Block]	Impairment of long-lived assets 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 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.
Per share amounts [Policy Text Block]	Per share amounts
Stock-based compensation [Policy Text Block]	Stock-based compensation 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 consolidated 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 consolidated financial statements. Short-term inducements are treated as a modification of an existing award in the period the holder accepts the offer.
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 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 In August 2016, the FASB issued ASU No. 2016-15, which clarifies diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update to the standard is effective for the Company beginning January 1, 2018, with early application permitted. The Company is evaluating the effect the guidance will have on its consolidated financial statements. In March 2016, ASU No. 2016-09 was issued related to stock based compensation. The guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The update to the standard is effective beginning June 1, 2017, with early application permitted. Adoption of the new guidance is being evaluated. In February 2016, ASU No. 2016-02 was issued related to leases. The new guidance modifies the classification criteria and requires lessees to recognize the assets and liabilities arising from most leases on the balance sheet. This update is effective in fiscal years beginning after December 15, 2018, and early adoption is permitted. Adoption of the new guidance is being evaluated.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Table Text Block]	March 31, 2017 December 31, 2016 Accumulated Net book Accumulated Net book Cost depreciation value Cost depreciation value Furniture and fixtures $ 61,405 $ (55,525 ) $ 5,880 $ 61,405 $ (53,072 ) $ 8,333 Computers and equipment 55,626 (43,561 ) 12,065 57,785 (46,548 ) 11,237 Land 30,000 - 30,000 30,000 - 30,000 Site improvements 2,925,731 (2,788,356 ) 137,375 2,925,731 (2,783,133 ) 142,598 Site equipment 2,570,135 (1,848,155 ) 721,980 2,179,803 (1,788,885 ) 390,918 Vehicles 23,595 (23,595 ) - 23,595 (23,595 ) - Building 500,000 (345,833 ) 154,167 500,000 (333,333 ) 166,667 $ 6,166,492 $ (5,105,025 ) $ 1,061,467 $ 5,778,319 $ (5,028,566 ) $ 749,753

CONVERTIBLE NOTES (Tables)

CONVERTIBLE NOTES (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Assumptions of Warrants [Table Text Block]	Dividend yield - Expected volatility 126.58% Risk-free interest rate 1.01 – 1.10% Expected life (years) -
Convertible Debt [Table Text Block]	Convertible notes at face value $ 50,000 Unamortized discount (1,348 ) Convertible notes, net of discount $ 48,652
Interest Expense Related to the Convertible Notes [Table Text Block]	Interest rate at 10% $ 2,562 Amortization of debt discount 8,685 Total interest expense on convertible notes $ 11,247

STOCKHOLDERS EQUITY (Tables)

STOCKHOLDERS EQUITY (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Warrants, Valuation Assumptions [Table Text Block]	Dividend yield - Expected volatility 117.37% Risk-free interest rate 0.50 – 0.52% Expected life (years) -
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Shares Underlying Outstanding Warrants Exercise Price Expiration Date 5,050,000 0.40 March 2019 1,333,333 0.45 March 2019 18,650,000 0.40 February 2020 200,000 0.20 June 2021 200,000 0.20 July 2021 25,433,333

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	March 31, 2017 March 31, 2016 Dividend yield - - Expected volatility 117.37 – 148.20% 132.45% - 164.23% Risk-free interest rate 0.52 – 1.48% 0.30 - 1.08% Expected life (years) 0.10 – 2.10 0.00 - 3.20
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Weighted Average Average Remaining Grant Weighted Contractual Aggregate Number of Date Fair Average Life Intrinsic Shares Value Exercise Price (Years) Value Outstanding, December 31, 2016 31,562,197 $ 0.20 $ 0.41 2.92 Options/warrants granted 300,000 0.08 0.14 2.88 Options/warrants expired (7,387,197 ) 0.39 0.60 - Options/warrants exercised (1,100,000 ) 0.41 0.05 - Outstanding, March 31, 2017 23,375,000 $ 0.13 $ 0.35 3.69 $ 403,500 Exercisable, March 31, 2017 12,025,000 $ 0.19 $ 0.45 2.22 $ -
Schedule of Nonvested Share Activity [Table Text Block]	Weighted Average Number of Grant Date Shares Fair Value Unvested, December 31, 2016 11,350,000 $ 0.12 Granted - - Expired - - Vested - - Unvested, March 31, 2017 11,350,000 $ 0.12

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Transactions Between the Company and NMC [Table Text Block]	March 31, March 31, 2017 2016 Reimbursement of expenses $ 29,307 $ 110,936 Consulting services provided 105,000 105,000 Mineral and exploration expense – related party $ 134,307 $ 215,936

DESCRIPTION OF BUSINESS, HIST25

DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Cumulative Net Losses	$ 62,732,462		$ 61,452,547
Net Income (Loss)	1,279,915	$ 1,872,288
Net Cash Used in Operating Activities	1,358,159	$ 237,755
Stock Issued During Period, Value, Private placement, and warrant and stock option exercises	5,060,774
Extinguishment of Debt, Amount	$ 2,023,230
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	48,808,333	101,942,357
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, 2017	Mar. 31, 2016
Depreciation	$ 81,873	$ 83,656

MINERAL PROPERTIES (Narrative)

MINERAL PROPERTIES (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 29, 2008	Mar. 31, 2017	Dec. 31, 2016	Feb. 20, 2008	Feb. 19, 2008
Mineral properties		$ 8,239,934	$ 8,239,934
Columbus Project [Member]
Mineral Property, Interest Held				100.00%	15.00%
Net Smelter Return Royalty Percentage	5.00%
Mineral properties		8,239,934	8,239,934
Reclamation bonds [Member]
Restricted Investments		1,115,191	$ 1,115,153
Asset Retirement Obligation [Member]
Asset Retirement Obligation		$ 672,338
Adjusted risk free rate of assets retirement obligation		4.25%
Adjusted inflation rate of assets retirement obligation		3.78%

CONVERTIBLE NOTES (Narrative) (

CONVERTIBLE NOTES (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2017	Dec. 31, 2016	Jul. 31, 2017	Jun. 30, 2017
Debt Instrument, Face Amount			$ 50,000	$ 150,000
Debt Instrument, Interest Rate, Stated Percentage			10.00%	10.00%
Convertible Debt, Current					$ 50,000	$ 100,000
Debt Instrument, Convertible, Conversion Price				$ 0.20
Class of Warrant or Right, Weighted Average Exercise Price				$ 0.30
Class of Warrant or Right, Weighted Average Remaining Contractual Term				5 years
Equity Financing Percentage				125.00%
Issuance of Detachable Warrants.			600,000
Detachable Warrants, Weighted Average Exercise Price			$ 0.20
Class of Warrant or Right, Forfeitures and Expirations in Period	200,000	400,000
Fair Value Adjustment of Warrants			$ 20,000
Stock Issued During Period, Value, Conversion of Convertible Securities			100,000
Stock Issued During Period, Value, Conversion of accrued interest			$ 6,205
Conversion of Debt, Conversion Price			$ 0.064

STOCKHOLDERS EQUITY (Narrative)

STOCKHOLDERS EQUITY (Narrative) (Details) - USD ($)	1 Months Ended						2 Months Ended	3 Months Ended		12 Months Ended	55 Months Ended
	Mar. 29, 2017	Feb. 26, 2017	Feb. 17, 2017	Feb. 17, 2017	Jan. 31, 2017	Feb. 28, 2016	Feb. 29, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Jul. 31, 2021
Investor relations expense								$ 97,000	$ 0
Proceeds from private placements								2,044,000	0
Financing issuance costs								$ 902	$ 375
Exercise of stock options (Shares)								(1,100,000)
Proceeds from Stock Options Exercised								$ 58,000
Class of Warrant or Right, Grants in Period, Exercise Price		$ 0.40	$ 0.14
Warrant modifications and inducements [Member]
Class of Warrant or Right, Expirations in Period										43,566,827	35,133,333
Reduced exercise price for Warrants, Average exercise price prior to reduction										$ 0.80	$ 0.53
Reduced exercise price for Warrants					$ 0.08
Stock Issued During Period, Shares, Warrants Exercised				9,700,000
Investor relations expense				$ 97,000
Proceeds from Warrant Exercises				2,983,774
Proceeds From Warrant Exercises, settlement of accounts payable				$ 92,700
Private Placement [Member]
Issuance of common stock in private placement, (Shares)	49,369,123
Price Per Share	$ 0.08
Proceeds from private placements	$ 2,044,000
Proceeds from Issuance of Private Placement, settlement of accounts payable	1,905,530
Financing issuance costs	$ 902
Stock option exercises [Member]
Exercise of stock options (Shares)								1,100,000
Proceeds from Stock Options Exercised								$ 33,000
Proceeds from Stock Options Exercised, settlement of accounts payable								$ 25,000
Special Warrants [Member]
Class of Warrant or Right, Exercises in Period							1,750,000
Class of Warrant or Right, Automatically Converted into Units						21,025,000
Class of Warrant or Right, Grants in Period, Exercise Price							$ 0.40

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($)	1 Months Ended					3 Months Ended		12 Months Ended
	Feb. 26, 2017	Feb. 17, 2017	Feb. 17, 2017	Dec. 31, 2016	Mar. 27, 2007	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number				31,562,197		23,375,000		31,562,197
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures						300,000
Exercise of stock options (Shares)						(1,100,000)
Proceeds from Stock Options Exercised						$ 58,000
Class of Warrant or Right, Grants in Period, Net of Forfeitures	4,950,000	300,000
Class of Warrant or Right, Grants in Period, Exercise Price	$ 0.40	$ 0.14
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number						12,025,000
Share-based Compensation						$ 153,701	$ 983,413
Income Tax Expense (Benefit)						0	$ 0
Other Tax Expense (Benefit)						26,600
Total Intrinsic Value Of The Options Exercised						76,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized						$ 373,231
Share Based Compensation Arrangement Weighted Average Period Cost Recognized						7 months 2 days
NMC [Member]
Class of Warrant or Right, Grants in Period, Net of Forfeitures	4,500,000
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, Issued, Number						25,486,916
Stock option granted, weighted average exercise price						$ 0.37
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number						18,125,000
1,367,197 stock options amended by extending their expiration dates [Member]
Stock option granted, weighted average exercise price				$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				1,367,197
Amended stock options, exercise price prior to reduction				$ 0.61
Share-based Compensation								$ 2,587
7,600,000 stock options amended [Member]
Stock option granted, weighted average exercise price								$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures								7,600,000
Amended stock options, exercise price prior to reduction								$ 0.56
Exercise of stock options (Shares)			100,000
Proceeds from Stock Options Exercised			$ 8,000
Share-based Compensation			$ 2,028
4,800,000 stock options amended by extending their expiration dates [Member]
Stock option granted, weighted average exercise price								$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures								4,800,000
Amended stock options, exercise price prior to reduction								$ 0.74
4,950,000 stock options amended [Member]
Stock option granted, weighted average exercise price								$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures								4,950,000
Amended stock options, exercise price prior to reduction								$ 0.40
3,067,197 stock options amended by extending their expiration dates [Member]
Stock option granted, weighted average exercise price						$ 0.49
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures						3,067,197

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	3 Months Ended
	Mar. 31, 2017
Effective Income Tax Rate, Continuing Operations	0.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	35.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2007	Mar. 31, 2017	Mar. 31, 2016	Apr. 30, 2012
Lease obligations [Member]
Operating Leases, Rent Expense		$ 15,635	$ 15,170
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				$ 0.90

CONCENTRATIONS (Narrative) (Det

CONCENTRATIONS (Narrative) (Details)	Mar. 31, 2017USD ($)
Cash, FDIC Insured Amount	$ 250,000
Cash, Uninsured Amount	$ 2,879,530

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Extinguishment of Debt, Amount	$ 2,023,230
Shares Issued, Price Per Share	$ 0.08
Accounts Payable, Related Parties, Current	$ 44,036		$ 761,442
Rental Income, Nonoperating	5,409	$ 5,202
Due to Related Parties, Current	23,290		1,060,290
Equity issuance at $0.08 Per Share [Member]
Extinguishment of Debt, Amount	$ 731,800
Stock Issued During Period, Shares, Settlement of Debt	9,147,500
Shares Issued, Price Per Share	$ 0.08
Equity issuance at $0.05 Per Share [Member]
Extinguishment of Debt, Amount	$ 25,000
Stock Issued During Period, Shares, Settlement of Debt	500,000
Shares Issued, Price Per Share	$ 0.05
DOSA Consulting, LLC [Member]
Extinguishment of Debt, Amount	$ 63,900
Stock Issued During Period, Shares, Settlement of Debt	798,750
Shares Issued, Price Per Share	$ 0.08
Accounts Payable, Related Parties, Current	$ 44,036		761,442
NMC [Member]
Stock Issued During Period, Shares, Settlement of Debt	12,962,500
Shares Issued, Price Per Share	$ 0.08
Majority Stockholder Ownership Percentage	23.80%
Advances from Related Parties			1,037,000
Net smelter return royalty to NMC	5.00%
Former officers [Member]
Due to Related Parties, Current	$ 23,290		$ 23,290
Directors
Extinguishment of Debt, Amount	$ 40,000
Stock Issued During Period, Shares, Settlement of Debt	500,000
Shares Issued, Price Per Share	$ 0.08
Searchlight Minerals Corp [Member]
Rental Income, Nonoperating	$ 5,409	$ 5,202

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) - Subsequent Event [Member]	3 Months Ended
	Mar. 31, 2017USD ($)$ / shares
Debt Conversion, Converted Instrument, Amount | $	$ 50,000
Converted debt, conversion price | $ / shares	$ 0.064

Property, Plant and Equipment (

Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Cost	$ 6,166,492	$ 5,778,319
Accumulated depreciation	(5,105,025)	(5,028,566)
Net book value	1,061,467	749,753
Furniture and fixtures [Member]
Cost	61,405	61,405
Accumulated depreciation	(55,525)	(53,072)
Net book value	5,880	8,333
Computers and equipment [Member]
Cost	55,626	57,785
Accumulated depreciation	(43,561)	(46,548)
Net book value	12,065	11,237
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	(2,788,356)	(2,783,133)
Net book value	137,375	142,598
Site equipment [Member]
Cost	2,570,135	2,179,803
Accumulated depreciation	(1,848,155)	(1,788,885)
Net book value	721,980	390,918
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	(345,833)	(333,333)
Net book value	$ 154,167	$ 166,667

Fair Value Assumptions of Warra

Fair Value Assumptions of Warrants (Details)	3 Months Ended
	Mar. 31, 2017
Convertible Notes Fair Value Assumptions Expected Dividend Rate	0.00%
Convertible Notes Fair Value Assumptions Expected Volatility Rate	126.58%
Convertible Notes Fair Value Assumptions Risk Free Interest Rate Minimum	1.01%
Convertible Notes Fair Value Assumptions Risk Free Interest Rate Maximum	1.10%
Convertible Notes Fair Value Assumptions Expected Term	0 years

Convertible Debt (Details)

Convertible Debt (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument, Face Amount	$ 50,000	$ 150,000
Unamortized discount	(1,348)
Convertible notes, net of discount	$ 48,652

Interest Expense Related to the

Interest Expense Related to the Convertible Notes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Debt Instrument, Interest Rate, Stated Percentage	10.00%		10.00%
Interest at Interest rate	$ 2,562
Amortization of debt discount	8,685	$ 0
Total interest expense on convertible notes	$ 11,247

Schedule of Warrants, Valuation

Schedule of Warrants, Valuation Assumptions (Details)	3 Months Ended
	Mar. 31, 2017
Dividend yield	0.00%
Expected volatility	117.37%
Expected life (years)	0 years
Minimum [Member]
Risk-free interest rate	0.50%
Maximum [Member]
Risk-free interest rate	0.52%

Schedule of Stockholders' Equit

Schedule of Stockholders' Equity Note, Warrants or Rights (Details)	Mar. 31, 2017$ / sharesshares
Class of Warrant or Right, Outstanding	25,433,333
Expiration Date March 2019 [Member]
Class of Warrant or Right, Outstanding	5,050,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.40
Expiration Date March 2019 2 [Member]
Class of Warrant or Right, Outstanding	1,333,333
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.45
Expiration Date February 2020 [Member]
Class of Warrant or Right, Outstanding	18,650,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.40
Expiration Date June 2021 [Member]
Class of Warrant or Right, Outstanding	200,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.20
Expiration Date July 2021 [Member]
Class of Warrant or Right, Outstanding	200,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares	$ 0.20

Schedule of Share-based Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum	148.20%	164.23%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.48%	1.08%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	2 years 1 month 6 days	3 years 2 months 12 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum	117.37%	132.45%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.52%	0.30%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	1 month 6 days	0 years

Schedule of Share-based Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period	31,562,197
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Grant Date Fair Value, Beginning of Period	0.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period	$ 0.41
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term, Beginning of Period	3 years 8 months 8 days	2 years 11 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.14
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Options, Granted Weighted Average Remaining Contractual Term	2 years 10 months 17 days
Exercise of stock options (Shares)	(1,100,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Grant Date Fair Value	0.41
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	(7,387,197)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Grant Date Fair Value	0.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price	$ 0.60
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, Outstanding, Number, End of Period	23,375,000	31,562,197
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Grant Date Fair Value, End of Period	0.13	0.20
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period	$ 0.35	$ 0.41
Share-based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term, End of Period	3 years 8 months 8 days	2 years 11 months 1 day
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value, End of Period	$ 403,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number, End of Period	12,025,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Grant Date Fair Value, End of Period	$ 0.19
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price, End of Period	$ 0.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term, End of Period	2 years 2 months 19 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value, End of Period	$ 0

Schedule of Nonvested Share Act

Schedule of Nonvested Share Activity (Details)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Outstanding Number	11,350,000
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Outstanding Weighted Average Grant Date Fair Value	0.12
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, Unvested Options, Expirations in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Intrinsic Value | $ / shares	$ 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 Unvested Options Outstanding Number	11,350,000
Share Based Compensation Arrangement By Share Based Payment Award Unvested Options Weighted Average Grant Date Fair Value	0.12

Schedule of Transactions Betwee

Schedule of Transactions Between the Company and NMC (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reimbursement of expenses	$ 29,307	$ 110,936
Consulting services provided	105,000	105,000
Mineral exploration and evaluation expenses - related party	$ 134,307	$ 215,936