Timberline Resources (TLRS) 10-Q 11 Aug 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jun. 30, 2023	Aug. 11, 2023
Cover [Abstract]
Entity Registrant Name	TIMBERLINE RESOURCES CORPORATION
Entity Central Index Key	0001288750
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		159,676,152
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-34055
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	82-0291227
Entity Address Address Line 1	101 EAST LAKESIDE AVENUE
Entity Address City Or Town	COEUR D’ALENE
Entity Address State Or Province	ID
Entity Address Postal Zip Code	83814
City Area Code	208
Local Phone Number	664-4859
Security 12b Title	Common Stock, $0.001 par value
Trading Symbol	TLRS
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Sep. 30, 2022
CURRENT ASSETS:
Cash	$ 172,416	$ 2,438,587
Prepaid expenses and other current assets	32,946	18,444
TOTAL CURRENT ASSETS	205,362	2,457,031
PROPERTY, MINERAL RIGHTS AND EQUIPMENT, net	14,127,178	13,980,855
OTHER ASSETS:
Reclamation bonds	528,643	528,643
Deposits and other assets	5,700	5,700
TOTAL OTHER ASSETS	534,343	534,343
TOTAL ASSETS	14,866,883	16,972,229
CURRENT LIABILITIES:
Accounts payable	76,827	639,994
Accrued expenses	4,204	22,214
Accrued interest - related party	104,998	57,966
Accrued payroll, benefits and taxes	38,480	42,143
Senior unsecured note payable - related party	270,991	270,991
TOTAL CURRENT LIABILITIES	495,500	1,033,308
LONG-TERM LIABILITIES:
Asset retirement obligation	142,325	124,159
TOTAL LONG-TERM LIABILITIES	142,325	124,159
TOTAL LIABILITIES	637,825	1,157,467
COMMITMENTS AND CONTINGENCIES (Note 7)	0	0
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.001 par value; 500,000,000 shares authorized, 159,676,152 and 159,676,152 shares issued and outstanding, respectively	159,676	159,676
Additional paid-in capital	90,029,519	89,955,640
Accumulated deficit	(75,960,137)	(74,300,554)
TOTAL STOCKHOLDERS' EQUITY	14,229,058	15,814,762
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 14,866,883	$ 16,972,229

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred Stock, Par Or Stated Value Per Share	$ 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 Or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	159,676,152	159,676,152
Common Stock, Shares Outstanding	159,676,152	159,676,152

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
OPERATING EXPENSES:
Mineral exploration	$ 108,761	$ 896,465	$ 727,827	$ 2,696,797
Salaries and benefits	88,363	71,819	278,840	219,750
Professional fees	58,393	61,234	171,904	155,938
Insurance expense	40,821	43,204	125,739	116,651
Other general and administrative	80,477	149,748	313,156	332,254
TOTAL OPERATING EXPENSES	376,815	1,222,470	1,617,466	3,521,390
LOSS FROM OPERATIONS	(376,815)	(1,222,470)	(1,617,466)	(3,521,390)
OTHER INCOME (EXPENSE):
Foreign exchange gain (loss)	648	(214,347)	6,931	(210,683)
Interest expense	(1,049)	(503)	(2,530)	(1,636)
Interest expense - related party	(16,381)	(13,701)	(47,031)	(39,337)
Miscellaneous other income	56	72	513	151
TOTAL OTHER INCOME (EXPENSE)	(16,726)	(228,479)	(42,117)	(251,505)
LOSS BEFORE INCOME TAXES	(393,541)	(1,450,949)	(1,659,583)	(3,772,895)
INCOME TAX PROVISION (BENEFIT)	0	0	0	0
NET LOSS	$ (393,541)	$ (1,450,949)	$ (1,659,583)	$ (3,772,895)
NET LOSS PER SHARE
BASIC AND DILUTED	$ 0	$ (0.01)	$ (0.01)	$ 0.03
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING, BASIC AND DILUTED	159,676,152	159,468,089	159,676,152	146,378,612

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Common Stock	Accumulated Deficit	Additional Paid-In Capital	Subscription Receivable
Balance, shares at Sep. 30, 2021		139,696,022
Balance, amount at Sep. 30, 2021	$ 17,146,262	$ 139,696	$ (68,338,647)	$ 85,345,213	$ 0
Stock based compensation	44,321	0	0	44,321	0
Net loss	(1,624,223)	$ 0	(1,624,223)	0	0
Balance, shares at Dec. 31, 2021		139,696,022
Balance, amount at Dec. 31, 2021	15,566,360	$ 139,696	(69,962,870)	85,389,534	0
Net loss	(697,723)	$ 0	(697,723)	0	0
Common stock issued for exercise of warrants, shares		1,546,425
Common stock issued for exercise of warrants, amount	146,499	$ 1,546	0	214,953	(70,000)
Balance, shares at Mar. 31, 2022		141,242,447
Balance, amount at Mar. 31, 2022	15,015,136	$ 141,242	(70,660,593)	85,604,487	(70,000)
Net loss	(1,450,949)	$ 0	(1,450,949)	0	0
Common stock issued for cash, net, shares		18,933,705
Common stock issued for cash, net, amount	4,439,587	$ 18,934	0	4,420,653	0
Refund of subscription receivable, shares		(500,000)
Refund of subscription receivable, amount	0	$ (500)	0	(69,500)	70,000
Balance, shares at Jun. 30, 2022		159,676,152
Balance, amount at Jun. 30, 2022	18,003,774	$ 159,676	(72,111,542)	89,955,640	0
Balance, shares at Sep. 30, 2022		159,676,152
Balance, amount at Sep. 30, 2022	15,814,762	$ 159,676	(74,300,554)	89,955,640	0
Stock based compensation	51,708	0	0	51,708	0
Net loss	(881,543)	$ 0	(881,543)	0	0
Balance, shares at Dec. 31, 2022		159,676,152
Balance, amount at Dec. 31, 2022	14,984,927	$ 159,676	(75,182,097)	90,007,348	0
Stock based compensation	11,087	0	0	11,087	0
Net loss	(384,499)	$ 0	(384,499)	0	0
Balance, shares at Mar. 31, 2023		159,676,152
Balance, amount at Mar. 31, 2023	14,611,515	$ 159,676	(75,566,596)	90,018,435	0
Stock based compensation	11,084	0	0	11,084	0
Net loss	(393,541)	$ 0	(393,541)	0	0
Balance, shares at Jun. 30, 2023		159,676,152
Balance, amount at Jun. 30, 2023	$ 14,229,058	$ 159,676	$ (75,960,137)	$ 90,029,519	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,659,583)	$ (3,772,895)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock-based compensation	73,879	44,321
Accretion of asset retirement obligation	5,145	4,434
Changes in assets and liabilities:
Prepaid expenses and other current assets	(14,502)	(21,858)
Accounts payable	(563,167)	19,310
Accrued expenses	(18,010)	(22,946)
Accrued expenses - related party	0	19,790
Accrued interest - related party	47,032	39,337
Accrued payroll, benefits and taxes	(3,663)	3,946
Net cash used by operating activities	(2,132,869)	(3,686,561)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of mineral rights	(54,000)	(54,000)
Refund of reclamation bond	0	10,053
Payments for mineral rights	(79,302)	0
Net cash used by investing activities	(133,302)	(43,947)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock and warrants, net	0	4,439,587
Proceeds from exercise of warrants	0	146,499
Net cash provided by financing activities	0	4,586,086
Net increase (decrease) in cash and cash equivalents	(2,266,171)	855,578
CASH AT BEGINNING OF PERIOD	2,438,587	3,327,352
CASH AT END OF PERIOD	$ 172,416	$ 4,182,930

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Jun. 30, 2023
ORGANIZATION AND DESCRIPTION OF BUSINESS
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS: Timberline Resources Corporation (“Timberline” or “the Company) 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, the Company reincorporated into the State of Delaware, pursuant to a merger agreement approved by its shareholders.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: a. Basis of Presentation and Going Concern For further information refer to the consolidated financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K/A as amended for the year ended September 30, 2022. The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds and fund planned exploration programs that require significant cash expenditures. The Company currently has no historical recurring source of revenue, and its ability to continue as a going concern is dependent on its ability to raise equity and/or debt capital to fund future exploration and working capital requirements, or the Company’s ability to profitably execute its business plan. The Company’s plans for the long-term return to and continuation as a going concern include financing its future operations through sales of common stock and/or debt and the eventual profitable exploitation of its mining properties. 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. The condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these condensed consolidated financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used. b. New Accounting Pronouncements - c. Principles of Consolidation d. Net Income (Loss) per Share The dilutive effect of outstanding securities as of June 30, 2023 and 2022 is as follows: June 30, 2023 June 30, 2022 Stock options 6,035,000 8,335,000 Warrants 38,402,384 57,414,898 Total potential dilution 44,437,384 65,749,898 At June 30, 2023 and 2022, the effect of the Company’s common stock equivalents would have been anti-dilutive and therefore are excluded in the calculation of diluted EPS.

PROPERTY MINERAL RIGHTS AND EQU

PROPERTY MINERAL RIGHTS AND EQUIPMENT	9 Months Ended
	Jun. 30, 2023
PROPERTY MINERAL RIGHTS AND EQUIPMENT
PROPERTY, MINERAL RIGHTS, AND EQUIPMENT	NOTE 3 – PROPERTY, MINERAL RIGHTS, AND EQUIPMENT: The following is a summary of property, mineral rights, and equipment and accumulated depreciation at June 30, 2023 and September 30, 2022, respectively: Expected Useful Lives (years) June 30, 2023 September 30, 2022 Mineral rights – Eureka - $ 13,701,838 $ 13,647,838 Mineral rights – Seven Troughs, New York Canyon and other - 248,227 168,925 ARO Asset 125,636 112,615 Total mineral rights 14,075,701 13,929,378 Equipment and vehicles 2-5 53,678 53,678 Office equipment and furniture 3-7 70,150 70,150 Land - 51,477 51,477 Total property and equipment 175,305 175,305 Less accumulated depreciation (123,828 ) (123,828 ) Property, mineral rights, and equipment, net $ 14,127,178 $ 13,980,855 Mineral rights at Eureka increased by $18,000 and $54,000 for advanced royalty payments to Rocky Canyon Mining Company at Lookout Mountain during the three and nine months ended June 30, 2023 and 2022, respectively. At June 30, 2023 and 2022, the ARO asset and the ARO liability increased by $13,021 and $nil, respectively as a result of additional acreage disturbed at Eureka. Depreciation expense for the three and nine months ended June 30, 2023 and 2022, was $0 for each period. New York Canyon: On August 23, 2022, the Company purchased one patented mining claim, comprising of a total of 13.77 acres commonly known as the South Wales #1 patent within the New York Canyon claim block in Nevada’s Eureka trend, from Newmont Capital Limited for a total of $41,310. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. On September 28, 2022, the Company purchased five patented mining claims, comprising of a total of 28.82 acres commonly known as the Tiger Lilly, Eureka Giant, Southern Cross, Maria and Best & Belcher patents with and near the New York Canyon claim block, from the University of Nevada, Reno Foundation for a total of $86,460. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. Two of the patented claims are not within the New York Canyon claim block but will be included with this designation on the Company’s claims record references. During the fourth quarter of fiscal 2022 and first quarter of fiscal 2023, the Company purchased an interest in patented claims within the New York Canyon claim block from private parties for $10,933. In conjunction with the purchase, the Company granted a 0.5% net smelter return royalty to the sellers. During the second quarter of fiscal 2023, the Company purchased an interest in additional patented claims within the New York Canyon claim block from private parties for $67,237. During the third quarter of fiscal 2023, the Company purchased an interest in additional patented claims within the New York Canyon claim block from private parties for $1,132.

SENIOR UNSECURED NOTE PAYABLE R

SENIOR UNSECURED NOTE PAYABLE RELATED PARTY	9 Months Ended
	Jun. 30, 2023
SENIOR UNSECURED NOTE PAYABLE RELATED PARTY
SENIOR UNSECURED NOTE PAYABLE - RELATED PARTY	NOTE 4 – SENIOR UNSECURED NOTE PAYABLE – RELATED PARTY : On July 30, 2018, the Company entered into a loan agreement and promissory note with William Matlack, a significant shareholder and a director. Mr. Matlack loaned the Company $300,000 in the form of a senior unsecured note payable, with the principal bearing interest at an annual rate of 18%, compounded monthly. The loan is unsecured and has a maturity date of January 20, 2023. On January 20, 2023, the Company entered into an agreement with Mr. Matlack to extend the due date of the note for a period of six months to mature on July 20, 2023, and again on July 31, 2023, agreed with Mr. Matlack to extend the due date of the note for another six months to January 2024. At June 30, 2023 and September 30, 2022, the senior unsecured note payable balance was $270,991. The accrued interest on the senior unsecured note payable – related party was $104,998 and $57,966 at June 30, 2023 and September 30, 2022, respectively. Interest expense related to the senior unsecured notes payable to this related party was $16,381 and $13,701 for the three months ended June 30, 2023 and 2022, respectively, and $47,031 and $39,337 for the nine months ended June 30, 2023 and 2022, respectively. The $270,991 senior unsecured note payable would be senior to any other debt obtained by the Company subsequent to September 30, 2021. The note requires that when the Company enters into any other financings, 25% of the proceeds of such financings will be paid toward reduction of the principal and interest accrued on this note. At May 2, 2022 and continuing through June 30, 2023, and again on July 31, 2023 and continuing through January 20, 2024. Mr. Matlack provided a waiver of default on the Note that would otherwise have existed due to a non-payment of cash from sales of common stock for cash under this contract term for the note.

COMMON STOCK AND WARRANTS

COMMON STOCK AND WARRANTS	9 Months Ended
	Jun. 30, 2023
COMMON STOCK AND WARRANTS
COMMON STOCK AND WARRANTS	NOTE 5 – COMMON STOCK AND WARRANTS: During the nine months ended June 30, 2023, 2,880,867 Series C warrants, 4,000,000 Series K warrants, and 12,131,647 Series M warrants expired. At June 30, 2023, the Company has a total of 38,402,384 warrants outstanding with a weighted average exercise price of $0.19 with a weighted average remaining contractual term of 0.50 years. On May 2, 2022, the Company closed a non-brokered private placement of the Company to accredited investors at a price of $0.25 per common share. The Company issued 18,933,705 common shares for cash proceeds of $4,733,426. Finders fees in the amount of $293,839 and 1,016,022 Series N Warrants were paid and issued, respectively, to licensed brokers and consultants in association with the offering. The warrants have a term of 18 months and are exercisable at $0.25 per common share. During the nine months ended June 30, 2022, 6,825,000 Series E warrants, 5,000,000 Series G warrants and 4,446,016 Series H warrants expired. Also, holders of Series H Warrants exercised 1,546,425 warrants for $0.14 per share to acquire 1,546,425 shares of the Company’s common stock for total cash proceeds of $146,499 and a subscription receivable of $70,000 to the Company. The warrant holder decided not to exercise the 500,000 warrants subscribed, the $70,000 was refunded and the warrants expired, resulting in a total of 1,046,425 shares being issued.

STOCKBASED AWARDS

STOCKBASED AWARDS	9 Months Ended
	Jun. 30, 2023
STOCKBASED AWARDS
STOCK-BASED AWARDS	NOTE 6 – STOCK-BASED AWARDS: The Company has a stock plan to issue up to 15,000,000 shares of common stock, including 10,000,000 shares of common stock reserved for incentive stock options. Upon exercise of options or other awards, shares are issued from the available authorized shares of the Company. Option awards are granted with an exercise price equal to the trading price of the Company’s stock at the date of grant. On October 8, 2020, the Company granted a total of 1,100,000 options to purchase shares of the Company’s common stock that expire in five years with an exercise price of $0.25 in conjunction with the appointment of officers and a director. These granted options had a total fair value of $259,985. These options vested immediately, with the exception of 750,000 options that vest at 25% upon grant with the remaining 75% vesting over a three-year period. During the three and nine months ended June 30, 2023, $11,084 and $73,879, respectively, was expensed to share-based compensation, compared to $nil and $44,321 for the three and nine months ended June 30, 2022, respectively. The following is a summary of options issued and outstanding: Options Weighted Average Exercise Price Outstanding at September 30, 2021 8,335,000 0.18 Granted - - Expired - - Outstanding at September 30, 2022 8,335,000 $ 0.18 Granted - - Expired (2,300,000 ) 0.18 Outstanding at June 30, 2023 6,035,000 0.18 Outstanding and exercisable at June 30, 2023 5,847,500 $ 0.17 Weighted average remaining contractual term (years) 2.07 The aggregate of options exercisable as of June 30, 2023 had an intrinsic value of $nil for both outstanding and vested options, based on the closing price of $0.06 per share of the Company’s common stock on June 30, 2023.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 7 – COMMITMENTS AND CONTINGENCIES : The Company has the following commitments and contingencies: Mineral Exploration A portion of the Company’s mining claims on the Company’s properties are subject to lease and option agreements including advance minimum royalty payments, with various terms, obligations, and royalties payable in certain circumstances. The Company pays federal and county claim maintenance fees on unpatented claims that are included in the Company’s mineral exploration properties. Should the Company continue to explore all of the Company’s mineral properties, it estimates annual fees to total approximately $236,000 per year in the future.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation and Going Concern	a. Basis of Presentation and Going Concern For further information refer to the consolidated financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K/A as amended for the year ended September 30, 2022. The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet all of its obligations for the next 12 months without raising additional funds and fund planned exploration programs that require significant cash expenditures. The Company currently has no historical recurring source of revenue, and its ability to continue as a going concern is dependent on its ability to raise equity and/or debt capital to fund future exploration and working capital requirements, or the Company’s ability to profitably execute its business plan. The Company’s plans for the long-term return to and continuation as a going concern include financing its future operations through sales of common stock and/or debt and the eventual profitable exploitation of its mining properties. 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. The condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these condensed consolidated financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.
New Accounting Pronouncements	b. New Accounting Pronouncements -
Principles of Consolidation	c. Principles of Consolidation
Net Income (Loss) per Share	d. Net Income (Loss) per Share The dilutive effect of outstanding securities as of June 30, 2023 and 2022 is as follows: June 30, 2023 June 30, 2022 Stock options 6,035,000 8,335,000 Warrants 38,402,384 57,414,898 Total potential dilution 44,437,384 65,749,898 At June 30, 2023 and 2022, the effect of the Company’s common stock equivalents would have been anti-dilutive and therefore are excluded in the calculation of diluted EPS.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule Of Dilutive Effect Of Outstanding Securities	June 30, 2023 June 30, 2022 Stock options 6,035,000 8,335,000 Warrants 38,402,384 57,414,898 Total potential dilution 44,437,384 65,749,898

PROPERTY MINERAL RIGHTS AND E_2

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Tables)	9 Months Ended
	Jun. 30, 2023
PROPERTY MINERAL RIGHTS AND EQUIPMENT
Schedule Of Property, Mineral Rights, And Equipment	Expected Useful Lives (years) June 30, 2023 September 30, 2022 Mineral rights – Eureka - $ 13,701,838 $ 13,647,838 Mineral rights – Seven Troughs, New York Canyon and other - 248,227 168,925 ARO Asset 125,636 112,615 Total mineral rights 14,075,701 13,929,378 Equipment and vehicles 2-5 53,678 53,678 Office equipment and furniture 3-7 70,150 70,150 Land - 51,477 51,477 Total property and equipment 175,305 175,305 Less accumulated depreciation (123,828 ) (123,828 ) Property, mineral rights, and equipment, net $ 14,127,178 $ 13,980,855

STOCKBASED AWARDS (Tables)

STOCKBASED AWARDS (Tables)	9 Months Ended
	Jun. 30, 2023
STOCKBASED AWARDS
Summary Of Options Activity	Options Weighted Average Exercise Price Outstanding at September 30, 2021 8,335,000 0.18 Granted - - Expired - - Outstanding at September 30, 2022 8,335,000 $ 0.18 Granted - - Expired (2,300,000 ) 0.18 Outstanding at June 30, 2023 6,035,000 0.18 Outstanding and exercisable at June 30, 2023 5,847,500 $ 0.17 Weighted average remaining contractual term (years) 2.07

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Stock options	6,035,000	8,335,000
Warrants	38,402,384	57,414,898
Total potential dilution	44,437,384	65,749,898

PROPERTY MINERAL RIGHTS AND E_3

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details) - USD ($)	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2022
Property, Plant And Equipment, Gross	$ 175,305	$ 175,305
Less Accumulated Depreciation	(123,828)	(123,828)
Property, Mineral Rights, And Equipment, Net	14,127,178	13,980,855
Mineral Rights	14,075,701	13,929,378
Equipment and vehicles
Property, Plant And Equipment, Gross	$ 53,678	53,678
Equipment and vehicles | Minimum
Expected Useful Lives (years)	2 years
Equipment and vehicles | Maximum
Expected Useful Lives (years)	5 years
Office equipment and furniture
Property, Plant And Equipment, Gross	$ 70,150	70,150
Office equipment and furniture | Minimum
Expected Useful Lives (years)	3 years
Office equipment and furniture | Maximum
Expected Useful Lives (years)	7 years
Land
Property, Plant And Equipment, Gross	$ 51,477	51,477
Mineral rights - Eureka
Mineral Rights	13,701,838	13,647,838
Mineral rights - Other
Mineral Rights	248,227	168,925
ARO Asset [Member]
Mineral Rights	$ 125,636	$ 112,615

PROPERTY MINERAL RIGHTS AND E_4

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 28, 2022	Aug. 23, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Depreciation expense			$ 0	$ 0	$ 0	$ 0
ARO Liability [Member]
Mineral rights increased					13,021	0
Mineral rights - Eureka
Mineral rights increased			$ 18,000	$ 18,000	54,000	54,000
ARO Asset [Member]
Mineral rights increased					$ 13,021	$ 0
Equipment and vehicles | New York Canyon Member
New york canyon description	the Company purchased five patented mining claims, comprising of a total of 28.82 acres commonly known as the Tiger Lilly, Eureka Giant, Southern Cross, Maria and Best & Belcher patents with and near the New York Canyon claim block, from the University of Nevada, Reno Foundation for a total of $86,460. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller. Two of the patented claims are not within the New York Canyon claim block but will be included with this designation on the Company’s claims record references	the Company purchased one patented mining claim, comprising of a total of 13.77 acres commonly known as the South Wales #1 patent within the New York Canyon claim block in Nevada’s Eureka trend, from Newmont Capital Limited for a total of $41,310. In conjunction with this purchase, the Company granted a 1.5% net smelter return royalty to the seller			During the fourth quarter of fiscal 2022 and first quarter of fiscal 2023, the Company purchased an interest in patented claims within the New York Canyon claim block from private parties for $10,933. In conjunction with the purchase, the Company granted a 0.5% net smelter return royalty to the sellers. During the second quarter of fiscal 2023, the Company purchased an interest in additional patented claims within the New York Canyon claim block from private parties for $67,237. During the third quarter of fiscal 2023, the Company purchased an interest in additional patented claims within the New York Canyon claim block from private parties for $1,132

SENIOR UNSECURED NOTE PAYABLE_2

SENIOR UNSECURED NOTE PAYABLE RELATED PARTY (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 30, 2018	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Interest Expense		$ 1,049	$ 503	$ 2,530	$ 1,636
Senior Unsecured Notes Interest Paid
Reduction Of Principal And Interest Accrued, Rate				25%
Accrued Interest		104,998		$ 104,998		$ 57,966
Interest Expense		16,381	$ 13,701	47,031	$ 39,337
Senior Unsecured Note Payable		270,991		270,991
Senior Unsecured Notes Interest Paid | Private Placement Financing
Debt Instrument, Face Amount		$ 300,000		$ 300,000
Debt Instrument, Maturity Date				Jul. 20, 2023
Senior Unsecured Notes Payable, Transaction #1
Interest Annual, Rate	18%

COMMON STOCK AND WARRANTS (Deta

COMMON STOCK AND WARRANTS (Details Narrative) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Warrants Outstanding	$ 38,402,384
Weighted Average Exercise Price	$ 0.19
Warrants term	6 months
Warrant description	The warrant holder decided not to exercise the 500,000 warrants subscribed, the $70,000 was refunded and the warrants expired, resulting in a total of 1,046,425 shares being issued
Non Brokered Private Placement [Member]
Common share issue price per share	$ 0.25
Issue of common share	18,933,705
Issued of common share value	$ 4,733,426
Finders fees	$ 293,839
Series K Warrants [Member]
Warrants expired	4,000,000
Series M Warrants [Member]
Warrants expired	12,131,647
Series C Warrants [Member]
Warrants expired	2,880,867
Series E Warrants [Member]
Warrants expired		6,825,000
Series G Warrants [Member]
Warrants expired		5,000,000
Series H Warrants [Member]
Warrants expired		4,446,016
Warrant exercise		1,546,425
Warrant erxercise price		$ 0.14
Cash proceeds		$ 146,499
Subscription receivables		$ 70,000
Acquire of common stock	1,546,425
Series N Warrants [Member]
Warrants issued	1,016,022
Warrant term	18 months
Exercisable price	$ 0.25

STOCKBASED AWARDS (Details)

STOCKBASED AWARDS (Details) - $ / shares	9 Months Ended	12 Months Ended
	Jun. 30, 2023	Sep. 30, 2022
STOCKBASED AWARDS
Outstanding, Beggining Balance	8,335,000	8,335,000
Expired	(2,300,000)
Outstanding, Ending Balance	6,035,000
Weighted Average Exercise Price, Outstanding, Beggining Balance	$ 0.18	$ 0.18
Outstanding exercisable	5,847,500
Weighted Average Exercise Price, Granted	$ 0	0
Weighted Average Exercise Price, Expired	0.18	0
Weighted average exercise price exercisable	0.17
Weighted Average Exercise Price, Outstanding, Ending Balance	$ 0.18	$ 0.18
Weighted Average Remaining Contractual Term (years)	2 years 25 days

STOCKBASED AWARDS (Details Narr

STOCKBASED AWARDS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Common Stock Reserved For Issuance	15,000,000		15,000,000
Common Stock Reserved For Incentive Stock Options			10,000,000
Aggregate Of Options Exercisable As Intrinsic Value			$ 0
Aggregate Of Options Exercisable As Intrinsic Value Closing Price			$ 0.06
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.18		$ 0.18		$ 0.18	$ 0.18
Black Scholes Option Pricing Model
Stock options, vested in period, fair value	$ 11,084	$ 0	$ 73,879	$ 44,321
Stock-based Award #1
Sale Of Stock, Transaction Date			Oct. 08, 2020
Share-based Compensation Arrangement By Share-based Payment Award, Options, Grants In Period, Net Of Forfeitures			1,100,000
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.25		$ 0.25
Granted Options Total Fair Value			259,985
Exception Vesting Of Options			These options vested immediately, with the exception of 750,000 options that vest at 25% upon grant with the remaining 75% vesting over a three-year period

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	9 Months Ended
	Jun. 30, 2023 USD ($)
COMMITMENTS AND CONTINGENCIES
Mineral Properties Annual Fees	$ 236,000