Timberline Resources (TLRS) 10-Q 15 May 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Mar. 31, 2024	May 15, 2024
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	Mar. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		189,996,152
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	9030 NORTH HESS ST., SUITE 161
Entity Address Postal Zip Code	83835
Entity Address City Or Town	HAYDEN
Entity Address State Or Province	ID
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 ($)	Mar. 31, 2024	Sep. 30, 2023
CURRENT ASSETS:
Cash	$ 91,612	$ 98,224
Prepaid expenses and other current assets	137,294	8,130
TOTAL CURRENT ASSETS	228,906	106,354
Property, mineral rights, and equipment, net	14,191,178	14,155,178
OTHER ASSETS:
Reclamation bonds	528,643	528,643
Deposits and other assets	1,200	5,700
TOTAL OTHER ASSETS	529,843	534,343
TOTAL ASSETS	14,949,927	14,795,875
CURRENT LIABILITIES:
Accounts payable	68,107	83,867
Accrued expenses	12,970	6,245
Accrued payroll, benefits and taxes	206,827	123,943
TOTAL CURRENT LIABILITIES	287,904	214,055
LONG-TERM LIABILITIES:
Asset retirement obligation	147,640	144,040
TOTAL LONG-TERM LIABILITIES	147,640	144,040
TOTAL LIABILITIES	435,544	358,095
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, 189,996,152 and 174,246,152 shares issued and outstanding, respectively	189,996	174,246
Additional paid-in capital	91,362,351	90,744,432
Accumulated deficit	(77,037,964)	(76,480,898)
TOTAL STOCKHOLDERS' EQUITY	14,514,383	14,437,780
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 14,949,927	$ 14,795,875

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
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	500,000,000	500,000,000
Common Stock, Shares, Issued	189,996,152	174,246,152
Common Stock, Shares, Outstanding	189,996,152	174,246,152

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
OPERATING EXPENSES:
Mineral exploration	$ 57,212	$ 96,422	$ 116,459	$ 619,065
Salaries and benefits	75,928	78,312	153,618	190,476
Professional fees	37,572	50,651	97,033	113,511
Insurance expense	41,252	40,389	55,219	84,918
Other general and administrative	115,017	104,779	136,530	232,679
TOTAL OPERATING EXPENSES	326,981	370,553	558,859	1,240,649
LOSS FROM OPERATIONS	(326,981)	(370,553)	(558,859)	(1,240,649)
OTHER INCOME (EXPENSE):
Foreign exchange gain (loss)	4,328	2,880	4,172	6,282
Interest expense - related party	0	(15,499)	0	(30,651)
Interest expense	(2,135)	(1,481)	(2,406)	(1,481)
Other income	9	154	27	457
TOTAL OTHER INCOME (EXPENSE)	2,202	(13,946)	1,793	(25,393)
LOSS BEFORE INCOME TAXES	(324,779)	(384,499)	(557,066)	(1,266,042)
INCOME TAX PROVISION (BENEFIT)	0	0	0	0
NET LOSS	$ (324,779)	$ (384,499)	$ (557,066)	$ (1,266,042)
NET LOSS PER SHARE BASIC AND DILUTED	$ 0	$ 0	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	189,996,152	159,676,152	182,250,250	159,676,152

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Sep. 30, 2022		159,676,152
Balance, amount at Sep. 30, 2022	$ 15,814,762	$ 159,676	$ 89,955,640	$ (74,300,554)
Stock based compensation	51,708	0	51,708	0
Net loss	(881,543)	$ 0	0	(881,543)
Balance, shares at Dec. 31, 2022		159,676,152
Balance, amount at Dec. 31, 2022	14,984,927	$ 159,676	90,007,348	(75,182,097)
Stock based compensation	11,087	0	11,087	0
Net loss	(384,499)	$ 0	0	(384,499)
Balance, shares at Mar. 31, 2023		159,676,152
Balance, amount at Mar. 31, 2023	14,611,515	$ 159,676	90,018,435	(75,566,596)
Balance, shares at Sep. 30, 2023		174,246,152
Balance, amount at Sep. 30, 2023	14,437,780	$ 174,246	90,744,432	(76,480,898)
Stock based compensation	3,669	0	3,669	0
Net loss	(232,287)	$ 0	0	(232,287)
Common stock and warrants issued for cash, shares		15,750,000
Common stock and warrants issued for cash, amount	630,000	$ 15,750	614,250	0
Balance, shares at Dec. 31, 2023		189,996,152
Balance, amount at Dec. 31, 2023	14,839,162	$ 189,996	91,362,351	(76,713,185)
Net loss	(324,779)	$ 0	0	(324,779)
Balance, shares at Mar. 31, 2024		189,996,152
Balance, amount at Mar. 31, 2024	$ 14,514,383	$ 189,996	$ 91,362,351	$ (77,037,964)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (557,066)	$ (1,266,042)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock-based compensation	3,669	62,795
Accretion of asset retirement obligation	3,600	3,430
Changes in assets and liabilities:
Prepaid expenses and other current assets	(129,164)	(47,304)
Deposits and other assets	4,500	0
Accounts payable	(15,760)	(620,010)
Accrued expenses	6,725	(13,040)
Accrued interest - related party	0	30,651
Accrued payroll, benefits and taxes	82,884	(3,663)
Net cash used by operating activities	(600,612)	(1,853,183)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for mineral rights	(36,000)	(36,000)
Purchase of mineral rights	0	(78,170)
Net cash used by investing activities	(36,000)	(114,170)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock and warrants	630,000	0
Net cash provided by financing activities	630,000	0
Net decrease in cash and cash equivalents	(6,612)	(1,967,353)
CASH AT BEGINNING OF PERIOD	98,224	2,438,587
CASH AT END OF PERIOD	$ 91,612	$ 471,234

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Mar. 31, 2024
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	6 Months Ended
	Mar. 31, 2024
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 for the year ended September 30, 2023. 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. In connection with the Merger described in Note 8 - Subsequent Events b. New Accounting Pronouncements – In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures . Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. c. Principles of Consolidation d. Net Income (Loss) per Share The dilutive effect of outstanding securities as of March 31, 2024 and 2023 is as follows: March 31, 2024 March 31, 2023 Stock options 5,935,000 6,335,000 Warrants 26,785,000 50,534,031 Total potential dilution 32,720,000 56,869,031 At March 31, 2024 and 2023, the effect of the Company’s common stock equivalents would have been anti-dilutive.

PROPERTY MINERAL RIGHTS AND EQU

PROPERTY MINERAL RIGHTS AND EQUIPMENT	6 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and September 30, 2023, respectively: Expected Useful Lives (years) March 31, 2024 September 30, 2023 Mineral rights – Eureka - $ 13,765,838 $ 13,729,838 Mineral rights – Seven Troughs, New York Canyon and other - 248,227 248,227 ARO Asset 125,636 125,636 Total mineral rights 14,139,701 14,103,701 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 $ 14,191,178 $ 14,155,178 Mineral rights at Eureka increased by $18,000 and $36,000 for advanced royalty payments to Rocky Mountain Mining Company for Lookout Mountain during the three and six-month periods ended March 31, 2024 and 2023, respectively. Depreciation expense for the three and six months ended March 31, 2024 and 2023, was $0 for each period.

SENIOR UNSECURED NOTE PAYABLE R

SENIOR UNSECURED NOTE PAYABLE RELATED PARTY	6 Months Ended
	Mar. 31, 2024
SENIOR UNSECURED NOTE PAYABLE RELATED PARTY
RELATED PARTY PAYABLE	NOTE 4 – RELATED PARTY PAYABLE: The Company has accrued amounts to the Company’s Chief Executive Officer and Vice President of Exploration for amounts earned but not yet paid. Beginning in July 2023 and through March 31, 2024, the salaries have not been paid in full and at March 31, 2024, $174,904 is included in accrued payroll, benefits, and taxes on the condensed consolidated balance sheet, compared to $108,654 at September 30, 2023.

COMMON STOCK, WARRANTS AND PREF

COMMON STOCK, WARRANTS AND PREFERRED STOCK	6 Months Ended
	Mar. 31, 2024
COMMON STOCK, WARRANTS AND PREFERRED STOCK
COMMON STOCK, WARRANTS AND PREFERRED STOCK	NOTE 5 – COMMON STOCK, WARRANTS AND PREFERRED STOCK: On December 28, 2023, the Company closed a non-brokered private placement to accredited investors at a price of $0.04 per unit. Units consist of one share of common stock and one series P warrant share. The Company issued 15,750,000 common shares and a like number of warrants for cash proceeds of $630,000. The warrants have a term of four years and are exercisable at $0.06 per common share. During the six months ended March 31, 2024, 1,016,022 series N warrants expired. During the six months ended March 31, 2023, 2,880,867 series C warrants and 4,000,000 series K warrants expired. At March 31, 2024, the Company has a total of 26,785,000 warrants outstanding with a weighted average exercise price of $0.07 and a weighted average remaining contractual term of 2.94 years.

STOCK-BASED AWARDS

STOCK-BASED AWARDS	6 Months Ended
	Mar. 31, 2024
STOCK-BASED AWARDS
STOCK-BASED AWARDS	NOTE 6 – STOCK-BASED AWARDS: 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. At March 31, 2024, all options have fully vested. During the three and six months ended March 31, 2024, respectively, $0 and $3,669 was expensed to share-based compensation, compared to $11,087 and $62,795 for the three and six months ended March 31, 2023, respectively. The following is a summary of options issued and outstanding: Options Weighted Average Exercise Price Outstanding at September 30, 2022 8,335,000 0.18 Granted - - Expired (2,300,000 ) (0.18 ) Outstanding at September 30, 2023 6,035,000 $ 0.17 Granted - - Expired (100,000 ) (0.10 ) Outstanding at March 31, 2024 5,935,000 0.18 Outstanding and exercisable at March 31, 2024 5,935,000 $ 0.18 Weighted average remaining contractual term (years) 1.35 The aggregate of options exercisable as of March 31, 2024 had no intrinsic value, based on the closing price of $0.04 per share of the Company’s common stock on March 31, 2024.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2024
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 $236,277 per year in the future.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS: On April 16, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with McEwen Mining Inc., a Colorado corporation (“McEwen”), and Lookout Merger Sub, Inc., a Delaware corporation and direct subsidiary of McEwen (“Merger Sub”). The Merger Agreement provides that, among other things and subject to the terms and conditions of the Merger Agreement, Merger Sub will merge with and into the Company, with the Company surviving and continuing as the surviving corporation as a direct, wholly owned subsidiary of McEwen (such transaction, the “Merger”). At the effective date of the Merger, each outstanding share of common stock of the Company will be converted into the right to receive 0.01 of a share of common stock of McEwen. The Company will call a special meeting of its stockholders to consider and approve the Merger. If approved by the Company’s stockholders, the Merger is expected to be consummated in the third calendar quarter of 2024. Bridge Financing In connection with the Merger Agreement, on April 16, 2024, the Company and McEwen entered into a Note whereby McEwen will provide the Company with loans totaling approximately $500,000, as the Company may request from time to time (each, a “ Loan Principal Amount Maturity Date provided however provided further however

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 31, 2024
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 for the year ended September 30, 2023. 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. In connection with the Merger described in Note 8 - Subsequent Events
New Accounting Pronouncements	b. New Accounting Pronouncements – In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our consolidated financial statements and disclosures . Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.
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 March 31, 2024 and 2023 is as follows: March 31, 2024 March 31, 2023 Stock options 5,935,000 6,335,000 Warrants 26,785,000 50,534,031 Total potential dilution 32,720,000 56,869,031 At March 31, 2024 and 2023, the effect of the Company’s common stock equivalents would have been anti-dilutive.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Mar. 31, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule Of Dilutive Effect Of Outstanding Securities	March 31, 2024 March 31, 2023 Stock options 5,935,000 6,335,000 Warrants 26,785,000 50,534,031 Total potential dilution 32,720,000 56,869,031

PROPERTY MINERAL RIGHTS AND E_2

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Tables)	6 Months Ended
	Mar. 31, 2024
PROPERTY MINERAL RIGHTS AND EQUIPMENT
Schedule Of Property, Mineral Rights, And Equipment	Expected Useful Lives (years) March 31, 2024 September 30, 2023 Mineral rights – Eureka - $ 13,765,838 $ 13,729,838 Mineral rights – Seven Troughs, New York Canyon and other - 248,227 248,227 ARO Asset 125,636 125,636 Total mineral rights 14,139,701 14,103,701 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 $ 14,191,178 $ 14,155,178

STOCK-BASED AWARDS (Tables)

STOCK-BASED AWARDS (Tables)	6 Months Ended
	Mar. 31, 2024
STOCK-BASED AWARDS
Summary Of Options Activity	Options Weighted Average Exercise Price Outstanding at September 30, 2022 8,335,000 0.18 Granted - - Expired (2,300,000 ) (0.18 ) Outstanding at September 30, 2023 6,035,000 $ 0.17 Granted - - Expired (100,000 ) (0.10 ) Outstanding at March 31, 2024 5,935,000 0.18 Outstanding and exercisable at March 31, 2024 5,935,000 $ 0.18 Weighted average remaining contractual term (years) 1.35

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Stock options	5,935,000	6,335,000
Warrants	26,785,000	50,534,031
Total potential dilution	32,720,000	56,869,031

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	6 Months Ended
	Mar. 31, 2024 USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Loans	$ 500,000

PROPERTY MINERAL RIGHTS AND E_3

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details) - USD ($)	6 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Property, Plant And Equipment, Gross	$ 175,305	$ 175,305
Less Accumulated Depreciation	(123,828)	(123,828)
Property, Mineral Rights, And Equipment, Net	14,191,178	14,155,178
Mineral Rights	14,139,701	14,103,701
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	13,765,838	13,729,838
Mineral rights - Other
Mineral Rights	248,227	248,227
ARO Asset [Member]
Mineral Rights	$ 125,636	$ 125,636

PROPERTY MINERAL RIGHTS AND E_4

PROPERTY MINERAL RIGHTS AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Depreciation expense	$ 0	$ 0	$ 0	$ 0
Mineral rights - Eureka
Mineral rights increased	$ 18,000	$ 18,000	$ 36,000	$ 36,000

RELATED PARTY PAYABLE (Details

RELATED PARTY PAYABLE (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
Chief Executive Officer and Vice President
Accrued payroll, benefits, and taxes on the condensed consolidated balance sheet	$ 174,904	$ 108,654

COMMON STOCK WARRANTS AND PREFE

COMMON STOCK WARRANTS AND PREFERRED STOCK (Details Narrative) - USD ($)	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Warrants Outstanding	$ 26,785,000
Weighted Average Exercise Price	$ 0.07
Warrants term	2 years 11 months 8 days
Series N Warrants [Member]
Warrants expired	1,016,022
Series C Warrants [Member]
Warrants expired		2,880,867
Series K Warrants [Member]
Warrants expired		4,000,000
Non Brokered Private Placement [Member]
Common share issue price per share	$ 0.04
Issue of common share	15,750,000
Issued of common share value	$ 630,000
Exercisable price	$ 0.06
Warrants term	four years

STOCKBASED AWARDS (Details)

STOCKBASED AWARDS (Details) - $ / shares	6 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023
STOCK-BASED AWARDS
Outstanding, Beggining Balance	6,035,000	8,335,000
Expired	(100,000)	(2,300,000)
Outstanding, Ending Balance	5,935,000	6,035,000
Outstanding exercisable	5,935,000
Weighted Average Exercise Price, Outstanding, Beggining Balance	$ 0.17	$ 0.18
Weighted Average Exercise Price, Granted	0	0
Weighted Average Exercise Price, Expired	(0.10)	(0.18)
Weighted Average Exercise Price, Outstanding, Ending Balance	0.18	$ 0.17
Weighted average exercise price exercisable	$ 0.18
Weighted Average Remaining Contractual Term (years)	1 year 4 months 6 days

STOCKBASED AWARDS (Details Narr

STOCKBASED AWARDS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022
Aggregate Of Options Exercisable As Intrinsic Value Closing Price			$ 0.04
Share-based Compensation Arrangement By Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.18		$ 0.18		$ 0.17	$ 0.17	$ 0.18	$ 0.18
Black Scholes Option Pricing Model
Stock options, vested in period, fair value	$ 0	$ 11,087	$ 3,669	$ 62,795
Stock-based Award 1 [Member]
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 fOptions			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)	6 Months Ended
	Mar. 31, 2024 USD ($)
COMMITMENTS AND CONTINGENCIES
Mineral Properties Annual Fees	$ 236,277

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Apr. 16, 2024	Mar. 31, 2024
Loans		$ 500,000
Subsequent Event [Member]
Loans	$ 500,000
Description of monthly budget	The Note bears interest at a per annum rate of 15%, accruing monthly, and matures on October 15, 2024