Timberline Resources (TLRS) 10-Q 26 Jan 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 31, 2017	Jan. 25, 2018
Document and Entity Information
Entity Registrant Name	Timberline Resources Corp
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Entity Central Index Key	1,288,750
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding		36,027,819
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Incorporation, State Country Name	Delaware
Trading Symbol	tlrs

TIMBERLINE RESOURCES CORPORATIO

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Interim period unaudited) - USD ($)		Dec. 31, 2017	Sep. 30, 2017
CURRENT ASSETS:
Cash		$ 240,255	$ 67,154
Prepaid expenses and other current assets		252,162	20,716
Accounts receivable			2,633
TOTAL CURRENT ASSETS		492,417	90,503
PROPERTY, MINERAL RIGHTS AND EQUIPMENT, net		17,151,019	17,125,519
OTHER ASSETS:
Restricted cash		285,128	285,128
Deposits and other assets		9,750	9,750
TOTAL OTHER ASSETS		294,878	294,878
TOTAL ASSETS		17,938,314	17,510,900
CURRENT LIABILITIES:
Accounts payable		99,680	109,680
Accrued expenses		14,201	9,923
Accrued payroll, benefits and taxes		39,461	85,730
Payment obligation		219,957	250,000
TOTAL CURRENT LIABILITIES		373,299	455,333
LONG-TERM LIABILITIES:
Asset retirement obligation		154,783	152,940
TOTAL LONG-TERM LIABILITIES		154,783	152,940
COMMITMENTS AND CONTINGENCIES	[1]	0	0
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value; 200,000,000 shares authorized, 36,027,819 and 33,146,952 shares issued and outstanding, respectively		36,028	33,147
Additional paid-in capital		71,242,030	70,408,144
Accumulated deficit		(53,867,826)	(53,538,664)
TOTAL STOCKHOLDERS' EQUITY		17,410,232	16,902,627
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 17,938,314	$ 17,510,900
[1]	Notes 5 and 10

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Dec. 31, 2017	Sep. 30, 2017
Statement of financial position
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	36,027,819	33,146,952
Common Stock, Shares Outstanding	36,027,819	33,146,952

TIMBERLINE RESOURCES CORPORATI4

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING EXPENSES:
Mineral exploration	$ 26,174	$ 45,728
Salaries and benefits	83,254	76,534
Professional fees	72,546	91,815
Insurance expense	23,179	20,127
Gain on disposal of equipment		(2,500)
Other general and administrative	132,504	73,086
TOTAL OPERATING EXPENSES	337,657	304,790
LOSS FROM OPERATIONS	(337,657)	(304,790)
OTHER INCOME (EXPENSE):
Foreign exchange gain (loss)	33	(921)
Interest expense	(6,171)
Miscellaneous other income	14,633	3
TOTAL OTHER INCOME (EXPENSE)	8,495	(918)
LOSS BEFORE INCOME TAXES	(329,162)	(305,708)
INCOME TAX PROVISION (BENEFIT)		21,000
NET LOSS	(329,162)	(326,708)
OTHER COMPREHENSIVE INCOME (LOSS):
Unrealized gain (loss) on available-for-sale equity securities, net of tax of $21,000		(39,000)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)		(39,000)
COMPREHENSIVE LOSS	$ (329,162)	$ (365,708)
NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS, BASIC AND DILUTED	$ (0.01)	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	34,580,622	24,106,952

TIMBERLINE RESOURCES CORPORATI5

TIMBERLINE RESOURCES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (329,162)	$ (326,708)
Adjustments to reconcile net loss to net cash used by operating activities:
Deferred income tax provision		21,000
Gain on disposal of equipment		(2,500)
Stock-based compensation	15,000
Accretion of asset retirement obligation	1,843	1,755
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(231,446)	(12,796)
Accounts receivable	2,633	(2,633)
Accounts payable	(10,000)	(4,462)
Accrued expenses	4,278	(34,000)
Accrued payroll, benefits and taxes	(46,269)	24,558
Net cash used by operating activities		(335,786)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, mineral rights and equipment	(25,500)	(33,000)
Proceeds from disposal of equipment		2,500
Refund of reclamation and road use bonds		375,125
Net cash provided (used) by investing activities	(25,500)	344,625
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of units, net	821,767
Payment obligation	(30,043)
Net cash provided by financing activities	791,724
Net increase in cash and cash equivalents	173,101	8,839
CASH AT BEGINNING OF PERIOD	67,154	82,275
CASH AT END OF PERIOD	$ 240,255	$ 91,114

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	3 Months Ended
	Dec. 31, 2017
Notes
Note 1 - Organization and Description of Business:	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS: Timberline Resources Corporation (“Timberline” or “the Company”, “we”, “us”, “our”) was incorporated in August of 1968 under the laws of the State of Idaho as Silver Crystal Mines, Inc., for the purpose of exploring for precious metal deposits and advancing them to production. In 2008, we reincorporated into the State of Delaware pursuant to a merger agreement approved by our shareholders.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2017
Notes
Note 2 - Summary of Significant Accounting Policies:	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Basis of Presentation and Going Concern – The consolidated financial statements for the three-month period ended December 31, 2017 were prepared on the basis that the Company is a going concern, which contemplates the realization of its assets and the settlement of its liabilities in the normal course of operations. These financial statements do not reflect adjustments that would be necessary if the going concern assumption were not appropriate. The Company’s ability to continue as a going concern is dependent upon its ability to receive cash flow from its operations or to successfully obtain additional financing. While the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. These factors raise substantial doubt about the Company’s ability to continue as a going concern. b. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities, in periods of future income as of December 31, 2017 and 2016, would be as follows: 2017 2016 Stock options 1,988,334 2,055,419 Warrants 20,840,873 10,000,006 Total possible dilution 22,829,207 12,055,425 At December 31, 2017 and 2016, the effect of the Company’s outstanding options and common stock equivalents would have been anti-dilutive. c. Asset retirement obligation – d. Available-for-sale equity securities e. Reclassifications

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Dec. 31, 2017
Notes
Note 3 - Fair Value Measurements:	NOTE 3 – FAIR VALUE MEASUREMENTS: The table below sets forth our financial assets and liabilities that were accounted for at fair value on a recurring basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category. December 31, 2017 September 30, 2017 Input Hierarchy Level Assets: Cash $ 240,255 $ 67,154 Level 1 Restricted cash 285,128 285,128 Level 1

Note 4 - Restricted Cash

Note 4 - Restricted Cash	3 Months Ended
	Dec. 31, 2017
Notes
Note 4 - Restricted Cash:	NOTE 4 – RESTRICTED CASH: Cash that is restricted as to withdrawal or use under the terms of certain contractual arrangements, generally with regulatory agencies, is recorded in Other Assets Restricted cash

Note 5 - Property Option Agreem

Note 5 - Property Option Agreement	3 Months Ended
	Dec. 31, 2017
Notes
Note 5 - Property Option Agreement:	NOTE 5 – PROPERTY OPTION AGREEMENT: On March 12, 2015 (the “Effective Date”), we entered into a property option agreement (“Agreement”) with Gunpoint Exploration Ltd. (“Gunpoint”), which closed on March 31, 2015 and was amended on October 19, 2016 (“Amended Agreement”). Pursuant to the Agreement, Gunpoint granted us an exclusive and irrevocable option (“Option”) to purchase a 100% interest in Gunpoint’s Talapoosa project (the “Project”) in western Nevada. We acquired the right to exercise the Option at any time beginning on March 31, 2015 and ending within thirty (30) months of March 12, 2015, unless sooner terminated (“Option Period”). Pursuant to the Amended Agreement, we have the right to exercise the Option through March 31, 2019 (“Amended Option Period”), subject to certain interim payments and cumulative project expenditures. As consideration for the Option, we issued two million (2,000,000) shares of common stock and paid $300,000 in cash. The common stock was valued at fair value on the Effective Date and combined with the cash payments of $300,000 for total consideration of $1,500,000. The common stock was issued on March 31, 2015 into escrow with periodic releases to Gunpoint. The shares are irrevocable and were released to Gunpoint as follows: 25% on September 12, 2015; 25% on March 12, 2016; 25% on September 12, 2016; and 25% on March 12, 2017. All of the shares have been released from escrow. Gunpoint will retain the total of 2,000,000 shares, even if we do not exercise the Option. Pursuant to the Amended Agreement, during the Amended Option Period, we are required to make the following expenditures and stock issuances in order to retain the Option: · · · · Upon the date that Gunpoint receives all of the required payments and stock issuances (the “Closing Date”), we will have earned a 100% interest in the Project. For a period of five years following the Closing Date (“Contingent Payment Period”), should the daily price of gold (as determined by the London PM Fix) average greater than or equal to $1,600 per ounce over any 90-day period (“Trigger Event”), we will pay Gunpoint an additional payment of $10 million (the “Contingent Payment”), of which a minimum of $5 million will be payable within six months of the Trigger Event and the remaining $5 million payable within twelve months of the Trigger Event. The Contingent Payment is payable with 50% in cash and 50% in common shares of the Company, at our sole discretion. Following our exercise of the Option, effective as of the Closing Date, Gunpoint reserves a one-percent (1%) net smelter returns royalty in all minerals mined and removed from the Project (the “Royalty”). The Company’s option granted in the Agreement to purchase the Royalty from Gunpoint at any time for a cash payment of $3 million was eliminated in the Amended Agreement.

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	3 Months Ended
	Dec. 31, 2017
Notes
Note 6 - Accrued Expenses:	NOTE 6 – ACCRUED EXPENSES: As of December 31, 2017 and September 30, 2017, we had accrued $14,201 and $9,923 in expenses, respectively. The components of the accrued expenses are: Description December 31, 2017 September 30, 2017 Interest expense $ 1,076 $ - Other expenses 13,125 9,923 Total accrued expenses $ 14,201 $ 9,923

Note 7 - Payment Obligation

Note 7 - Payment Obligation	3 Months Ended
	Dec. 31, 2017
Notes
Note 7 - Payment Obligation:	NOTE 7 – PAYMENT OBLIGATION: On September 12, 2017, we entered into an agreement (the “Payment Agreement”) with a creditor (the “Creditor”) to pay by way of a payment plan an existing obligation of $250,000 (the “Debt”) related to a potential corporate transaction in 2015 that was not completed. Pursuant to the Payment Agreement, we agreed to pay the Debt to the Creditor, including interest, on or before September 12, 2020. Interest accrues on the unpaid principal amount of the Debt at a rate of prime, as such rate may change from time to time, plus 3% per annum. We agreed to pay the Creditor 5% of the gross proceeds of any funds raised, whether though equity sales, debt, or sales of assets. If the gross proceeds of any equity financing are at least $1 million, then we agreed to also commence monthly installment payments of $10,000 until the Debt is paid. During the three months ended December 31, 2017, we paid $34,363 to the Creditor from proceeds of a private placement, with $30,043 being applied to principal of the Debt and $4,320 being applied to interest.

Note 8 - Common Stock, Warrants

Note 8 - Common Stock, Warrants and Preferred Stock	3 Months Ended
	Dec. 31, 2017
Notes
Note 8 - Common Stock, Warrants and Preferred Stock:	NOTE 8 – COMMON STOCK, WARRANTS AND PREFERRED STOCK: Private Placement On October 12, 2017, we initiated Each Unit in the Offering consisted of one share of common stock of the Company and one common share purchase warrant (each a “Warrant”), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.45 per share until the warrant expiration date of October 31, 2022. During the three months ended December 31, 2017 we closed the sale of two tranches of the Offering. In the aggregate, we sold a total of 2,880,867 Units at a price of $0.30 per unit for gross proceeds of $864,260. Warrants During the three months ended December 31, 2017, 2,880,867 warrants were issued pursuant to the Offering. No warrants expired during the three months ended December 31, 2017. At December 31, 2017, there were 9,960,006 warrants outstanding with an exercise price of $0.25 per share that expire on May 31, 2019, 8,000,000 warrants outstanding with an exercise price of $0.40 per share that expire on January 31, 2020, and 2,880,867 warrants outstanding with an exercise price of $0.45. In aggregate, as of December 31, 2017, there were 20,840,873 warrants outstanding at a weighted average exercise price of $0.335. Preferred Stock We are authorized to issue up to 10,000,000 shares of preferred stock, $0.01 par value. Our board of directors is authorized to issue the preferred stock from time to time in series, and is further authorized to establish such series, to fix and determine the variations in the relative rights and preferences as between series, to fix voting rights, if any, for each series, and to allow for the conversion of preferred stock into common stock. There is no preferred stock issued as of December 31, 2017.

Note 9 - Stock-based Awards

Note 9 - Stock-based Awards	3 Months Ended
	Dec. 31, 2017
Notes
Note 9 - Stock-based Awards:	NOTE 9 – STOCK-BASED AWARDS: During the three months ended December 31, 2017, no options were granted and 62,500 options vested. In March, 2017, 250,000 stock options with an exercise price of $0.33 and a five-year term were granted to a consultant company. The fair value of all of the options granted was $60,000 ($0.24 per option). The options vested quarterly over a one-year period, including 25% of which (62,500 options) vested on December 15, 2017. The fair value of the 62,500 options that vested during the three months ended December 31, 2017 was $15,000 and was classified as other general and administrative expense. The value of all of the 250,000 options has now been recognized evenly over the past four quarters as the options vested. The value of the options was estimated on the date of grant with a Black-Scholes option-pricing model using the assumptions noted in the following table: Expected volatility 128.2% Stock price on date of grant $0.33 Expected dividends - Expected term (in years) 3 Risk-free rate 1.68% Expected forfeiture rate 0% The following is a summary of our options issued under the Amended 2005 Equity Incentive Plan and the 2015 Stock and Incentive Plan: Options Weighted Average Exercise Price Outstanding at September 30, 2017 2,233,334 $ 0.41 Expired (245,000) (0.41) Outstanding and exercisable at December 31, 2017 1,988,334 $ 0.41 Average remaining contractual term of options outstanding and exercisable at December 31, 2017 (years) 3.19 The aggregate of options exercisable as of December 31, 2017 had an intrinsic value of nil, based on the closing price of $0.23 per share of our common stock on December 31, 2017.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	3 Months Ended
	Dec. 31, 2017
Notes
Note 10 - Commitments and Contingencies:	NOTE 10 – COMMITMENTS AND CONTINGENCIES : Mineral Exploration A portion of our mining claims on our properties are subject to lease and option agreements with various terms, obligations, and royalties payable in certain circumstances. Pursuant to the Amended Option Agreement at Talapoosa (see Note 5), we had an obligation to make a payment of $1 million by March 31, 2017, which payment was made. There are also future payment and property expenditure obligations of $17.5 million, including $2 million due by March 31, 2018 and $8 million due by March 31, 2019. We pay federal and county claim maintenance fees on unpatented claims that are included in our mineral exploration properties. Should we continue to explore all of our mineral properties we expect annual fees to total approximately $285,000 per year in the future. While we recognize that we will not be able to meet these obligations with our current cash balances, we do expect to make these required payments with proceeds from expected capital raises. We expect to obtain additional capital through refunds of excess restricted cash held for exploration bonds and financing transactions such as equity investments, asset sales, joint ventures, debt facilities, or other types of strategic arrangements. Real Estate Lease Commitments As of December 31, 2017, the Company has no real estate lease commitments. The Company’s office in Coeur d’Alene, Idaho and its facilities in Sparks, Nevada and Eureka, Nevada are rented on a month-to-month basis. Total office lease and rental expense from continuing operations is included in the following line items in the consolidated statements of operations and comprehensive income (loss): Three months ended December 31, 2017 2016 Mineral exploration expenses $ 12,900 $ 12,900 Other general and administrative expenses 10,500 10,500 Total $ 23,400 $ 23,400 Employment Agreements The Company has an employment agreement with an executive employee that requires certain termination benefits and payments in defined circumstances.

Note 2 - Summary of Significa16

Note 2 - Summary of Significant Accounting Policies: a. Basis of Presentation and going concern (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
a. Basis of Presentation and going concern	a. Basis of Presentation and Going Concern –

Note 2 - Summary of Significa17

Note 2 - Summary of Significant Accounting Policies: Substantial Doubt about Going Concern (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
Substantial Doubt about Going Concern	The consolidated financial statements for the three-month period ended December 31, 2017 were prepared on the basis that the Company is a going concern, which contemplates the realization of its assets and the settlement of its liabilities in the normal course of operations. These financial statements do not reflect adjustments that would be necessary if the going concern assumption were not appropriate. The Company’s ability to continue as a going concern is dependent upon its ability to receive cash flow from its operations or to successfully obtain additional financing. While the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Note 2 - Summary of Significa18

Note 2 - Summary of Significant Accounting Policies: b. Net Income (Loss) per Share (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
b. Net Income (Loss) per Share	b. Net Income (Loss) per Share The dilutive effect of convertible and outstanding securities, in periods of future income as of December 31, 2017 and 2016, would be as follows: 2017 2016 Stock options 1,988,334 2,055,419 Warrants 20,840,873 10,000,006 Total possible dilution 22,829,207 12,055,425 At December 31, 2017 and 2016, the effect of the Company’s outstanding options and common stock equivalents would have been anti-dilutive.

Note 2 - Summary of Significa19

Note 2 - Summary of Significant Accounting Policies: c. Asset Retirement Obligation (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
c. Asset Retirement Obligation	c. Asset retirement obligation –

Note 2 - Summary of Significa20

Note 2 - Summary of Significant Accounting Policies: d. Available-for-sale equity securities (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
d. Available-for-sale equity securities	d. Available-for-sale equity securities

Note 2 - Summary of Significa21

Note 2 - Summary of Significant Accounting Policies: e. Reclassifications (Policies)	3 Months Ended
	Dec. 31, 2017
Policies
e. Reclassifications	e. Reclassifications

Note 2 - Summary of Significa22

Note 2 - Summary of Significant Accounting Policies: b. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	2017 2016 Stock options 1,988,334 2,055,419 Warrants 20,840,873 10,000,006 Total possible dilution 22,829,207 12,055,425

Note 3 - Fair Value Measureme23

Note 3 - Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	December 31, 2017 September 30, 2017 Input Hierarchy Level Assets: Cash $ 240,255 $ 67,154 Level 1 Restricted cash 285,128 285,128 Level 1

Note 6 - Accrued Expenses_ Sche

Note 6 - Accrued Expenses: Schedule of Accrued Liabilities (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Accrued Liabilities	Description December 31, 2017 September 30, 2017 Interest expense $ 1,076 $ - Other expenses 13,125 9,923 Total accrued expenses $ 14,201 $ 9,923

Note 9 - Stock-based Awards_ Sc

Note 9 - Stock-based Awards: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Expected volatility 128.2% Stock price on date of grant $0.33 Expected dividends - Expected term (in years) 3 Risk-free rate 1.68% Expected forfeiture rate 0%

Note 9 - Stock-based Awards_ Sh

Note 9 - Stock-based Awards: Share-based Compensation, Stock Options, Activity (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Share-based Compensation, Stock Options, Activity	Options Weighted Average Exercise Price Outstanding at September 30, 2017 2,233,334 $ 0.41 Expired (245,000) (0.41) Outstanding and exercisable at December 31, 2017 1,988,334 $ 0.41 Average remaining contractual term of options outstanding and exercisable at December 31, 2017 (years) 3.19

Note 10 - Commitments and Con27

Note 10 - Commitments and Contingencies: Schedule of Rent Expense (Tables)	3 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Rent Expense	Three months ended December 31, 2017 2016 Mineral exploration expenses $ 12,900 $ 12,900 Other general and administrative expenses 10,500 10,500 Total $ 23,400 $ 23,400

Note 1 - Organization and Des28

Note 1 - Organization and Description of Business (Details)	3 Months Ended
	Dec. 31, 2017
Details
Entity Incorporation, State Country Name	Delaware

Note 2 - Summary of Significa29

Note 2 - Summary of Significant Accounting Policies: b. Net Income (Loss) per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Stock options	1,988,334	2,055,419
Warrants	20,840,873	10,000,006
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	22,829,207	12,055,425

Note 3 - Fair Value Measureme30

Note 3 - Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017
Details
Cash and Cash Equivalents, Fair Value Disclosure	$ 240,255	$ 67,154
Restricted Cash and Cash Equivalents, Current	$ 285,128	$ 285,128

Note 5 - Property Option Agre31

Note 5 - Property Option Agreement (Details) - USD ($)	Mar. 31, 2017	Sep. 30, 2015
Details
Share issuance on equity method investment		2,000,000
Cash payment on equity method investment		$ 300,000
Payments to Acquire Equity Method Investments		$ 1,500,000
Stock Issued During Period, Shares, Other	1,000,000
Stock Issued During Period, Value, Other	$ 480,000

Note 6 - Accrued Expenses (Deta

Note 6 - Accrued Expenses (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017
Details
Accrued expenses	$ 14,201	$ 9,923

Note 6 - Accrued Expenses_ Sc33

Note 6 - Accrued Expenses: Schedule of Accrued Liabilities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017
Details
Interest Expense, Other	$ 1,076
Other Expenses	13,125	$ 9,923
Accrued expenses	$ 14,201	$ 9,923

Note 7 - Payment Obligation (De

Note 7 - Payment Obligation (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017
Details
Payment obligation	$ 219,957	$ 250,000
Debt Instrument, Periodic Payment	34,363
Debt Instrument, Periodic Payment, Principal	30,043
Debt Instrument, Periodic Payment, Interest	$ 4,320

Note 8 - Common Stock, Warran35

Note 8 - Common Stock, Warrants and Preferred Stock (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017
Details
Private Placement Units Sold	2,880,867
Private Placement Units Price Per Unit	$ 0.30
Proceeds from issuance of private placement units	$ 864,260
Warrants issued	2,880,867
Class of Warrant or Right, Outstanding	20,840,873
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.335
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par Value	$ 0.01	$ 0.01

Note 9 - Stock-based Awards_ 36

Note 9 - Stock-based Awards: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	3 Months Ended
	Dec. 31, 2017$ / shares
Details
Fair Value Assumptions, Expected Volatility Rate	128.20%
Represents the per-share monetary value of StockPriceOnDateOfGrant, during the indicated time period.	$ 0.33
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years
Fair Value Assumptions, Risk Free Interest Rate	1.68%
Sharebased Compensation Arrangement By Sharebased Payment Award FairValue Assumptions Expected Forfeiture Rate	0.00%

Note 9 - Stock-based Awards_ 37

Note 9 - Stock-based Awards: Share-based Compensation, Stock Options, Activity (Details) - $ / shares	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017
Details
Exercisable	1,988,334	2,233,334
Weighted Average Exercise Price, Exercisable	$ 0.41	$ 0.41
Expired	(245,000)
Weighted Average Exercise Price, Expired	$ (0.41)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 2 months 8 days

Note 10 - Commitments and Con38

Note 10 - Commitments and Contingencies (Details)	3 Months Ended
	Dec. 31, 2017USD ($)
Details
Expected annual fees, mineral exploration properties	$ 285,000

Note 10 - Commitments and Con39

Note 10 - Commitments and Contingencies: Schedule of Rent Expense (Details) - USD ($)	3 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Results of Operations Exploration Expense Mining	$ 12,900	$ 12,900
General and administrative	10,500	10,500
Operating Leases, Rent Expense	$ 23,400	$ 23,400