Xtra-Gold Resources (XTGRF) 20-F 28 Mar 19 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Trading Symbol	xtgr
Entity Registrant Name	XTRA-GOLD RESOURCES CORP
Entity Central Index Key	0001288770
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	46,245,917
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current
Cash and cash equivalents	$ 2,564,125	$ 1,364,652	$ 913,562
Investment in trading securities, at fair value cost of $795,765 (December 31, 2017 - $530,829, December 31, 2016 - $511,672) (Note 4)	471,723	270,309	248,592
Receivables and other assets	72,171	35,423	190,227
Inventory	150,936	155,391	240,657
Total current assets	3,258,955	1,825,775	1,593,038
Restricted cash (Note 7)	296,322	246,322	221,322
Equipment (Note 5)	500,877	521,563	347,202
Mineral properties (Note 6)	734,422	734,422	734,422
TOTAL ASSETS	4,790,576	3,328,082	2,895,984
Current
Accounts payable and accrued liabilities	320,184	237,256	269,613
Warrant liability (Note 8)	115,793	1,000	1,000
Asset retirement obligation (Note 7)	188,228	205,201	216,000
Total current liabilities	624,205	443,457	486,613
Total liabilities	624,205	443,457	486,613
Equity
Capital stock (Note 8) Authorized - 250,000,000 common shares with a par value of $0.001 Issued and outstanding 46,245,917 common shares (December 31, 2017 - 47,782,417 common shares, December 31, 2016 - 48,174,417 common shares)	46,246	47,782	48,174
Additional paid in capital	31,636,385	31,892,397	31,870,683
Accumulated deficit	(26,921,347)	(28,227,530)	(28,583,385)
Total Xtra-Gold Resources Corp. stockholders' equity	4,761,284	3,712,649	3,335,472
Non-controlling interest	(594,913)	(828,024)	(926,101)
Total equity	4,166,371	2,884,625	2,409,371
TOTAL LIABILITIES AND EQUITY	$ 4,790,576	$ 3,328,082	$ 2,895,984

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Trading Securities, Cost	$ 795,765	$ 530,829	$ 511,672
Common Stock, Shares Authorized	250,000,000	250,000,000	250,000,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares, Issued	46,245,917	47,782,417	48,174,417
Common Stock, Shares, Outstanding	46,245,917	47,782,417	48,174,417

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EXPENSES
Amortization	$ 138,304	$ 124,957	$ 139,323
Exploration	466,439	360,997	738,123
General and administrative	282,294	395,068	424,799
LOSS BEFORE OTHER ITEMS	(887,037)	(881,022)	(1,302,245)
OTHER ITEMS
Foreign exchange loss	(234,063)	(29,516)	(19,086)
Interest expense		(1,008)	(14,540)
Net (loss) gain on trading securities	(31,723)	43,551	31,612
Other income	15,896	9,006	8,989
Recovery of gold	2,791,014	1,312,921	828,559
Change in fair value warrant derivative liability	(114,793)		(1,000)
Total other items	2,426,331	1,334,954	834,534
Consolidated income (loss) for the year	1,539,294	453,932	(467,711)
Net gain attributable to non-controlling interest	(233,111)	(98,077)	(13,173)
Net income (loss) attributable to Xtra-Gold Resources Corp.	$ 1,306,183	$ 355,855	$ (480,884)
Basic income (loss) attributable to common shareholders per common share	$ 0.03	$ 0.01	$ (0.01)
Diluted income (loss) attributable to common shareholders per common share	$ 0.03	$ 0.01	$ (0.01)
Basic weighted average number of common shares outstanding	47,089,027	47,948,596	47,256,630
Diluted weighted average number of common shares outstanding	49,405,027	51,339,216	47,256,630

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Deficit [Member]	Non-Controlling Interest [Member]	Total
Beginning Balance at Dec. 31, 2015	$ 45,662	$ 31,095,966	$ (28,102,501)	$ (939,274)	$ 2,099,853
Beginning Balance (Shares) at Dec. 31, 2015	45,662,417
Private placement	$ 2,500	691,228			693,728
Private placement (Shares)	2,500,000
Stock-based compensation		104,519			104,519
Repurchase of shares	$ (396)	(69,378)			$ (69,774)
Repurchase of shares (Shares)	(396,000)				(396,000)
Stock option exercises	$ 408	48,348			$ 48,756
Stock option exercises (shares)	408,000				408,000
Income (Loss) for the year			(480,884)	13,173	$ (467,711)
Ending Balance at Dec. 31, 2016	$ 48,174	31,870,683	(28,583,385)	(926,101)	2,409,371
Ending Balance (Shares) at Dec. 31, 2016	48,174,417
Stock-based compensation		103,001			103,001
Repurchase of shares	$ (554)	(99,685)			$ (100,239)
Repurchase of shares (Shares)	(554,000)				(554,000)
Stock option exercises	$ 162	18,398			$ 18,560
Stock option exercises (shares)	162,000				162,000
Income (Loss) for the year			355,855	98,077	$ 453,932
Ending Balance at Dec. 31, 2017	$ 47,782	31,892,397	(28,227,530)	(828,024)	2,884,625
Ending Balance (Shares) at Dec. 31, 2017	47,782,417
Stock-based compensation		33,437			33,437
Repurchase of shares	$ (1,536)	(289,449)			$ (290,985)
Repurchase of shares (Shares)	(1,536,500)				(1,536,500)
Stock option exercises (shares)					0
Income (Loss) for the year			1,306,183	233,111	$ 1,539,294
Ending Balance at Dec. 31, 2018	$ 46,246	$ 31,636,385	$ (26,921,347)	$ (594,913)	$ 4,166,371
Ending Balance (Shares) at Dec. 31, 2018	46,245,917

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Income (loss) for the year	$ 1,539,294	$ 453,932	$ (467,711)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization	138,304	124,957	139,323
Change in asset retirement obligation	(16,973)	(10,799)	70,971
Stock-based compensation	33,437	103,001	104,519
Change in fair value warrant derivative liability	114,793		1,000
Unrealized foreign exchange loss (gain)	9,863	(25,799)	(12,405)
Purchase of trading securities	(556,385)	(169,035)	(253,554)
Proceeds on sale of trading securities	313,386	216,668	150,193
Net loss (gain) on sales of trading securities	31,723	(43,551)	(31,612)
Changes in non-cash working capital items:
(Increase) decrease in receivables and other assets	(36,748)	154,804	(158,591)
Decrease (increase) in inventory	4,455	85,266	(186,725)
Increase (decrease) in accounts payable and accrued liabilities	82,928	(32,357)	22,892
Net cash provided by (used in) operating activities	1,658,077	857,087	(621,700)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of equipment	(117,619)	(299,318)
Net cash used in investing activities	(117,619)	(299,318)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuances of capital stock, net of financing costs			693,728
Proceeds from exercise of options		18,560	48,756
Repurchase of capital stock	(290,985)	(100,239)	(69,774)
Net cash (used in) provided by financing activities	(290,985)	(81,679)	672,710
Change in cash and cash equivalents and restricted cash during the year	1,249,473	476,090	51,010
Cash and cash equivalents and restricted cash, beginning of the year	1,610,974	1,134,884	1,083,874
Cash and cash equivalents and restricted cash, end of the year	$ 2,860,447	$ 1,610,974	$ 1,134,884

HISTORY AND ORGANIZATION OF THE

HISTORY AND ORGANIZATION OF THE COMPANY	12 Months Ended
	Dec. 31, 2018
HISTORY AND ORGANIZATION OF THE COMPANY [Text Block]	1. HISTORY AND ORGANIZATION OF THE COMPANY Xtra-Gold Resources Corp., previously Silverwing Systems Corporation, was incorporated under the laws of the State of Nevada on September 1, 1998, pursuant to the provisions of the Nevada Revised Statutes. In 2003, the Company became a resource exploration company. On November 30, 2012, the Company redomiciled from the USA to the British Virgin Islands. In 2004, the Company acquired 100% of the issued and outstanding capital stock of Canadiana Gold Resources Limited (“Canadiana”) and 90% of the issued and outstanding capital stock of Goldenrae Mining Company Limited (“Goldenrae”). Both companies are incorporated in Ghana and the remaining 10% of the issued and outstanding capital stock of Goldenrae is held by the Government of Ghana. On December 21, 2005, Canadiana changed its name to Xtra-Gold Exploration Limited (“XG Exploration”). On January 13, 2006, Goldenrae changed its name to Xtra-Gold Mining Limited (“XG Mining”).

CONTINUANCE OF OPERATIONS

CONTINUANCE OF OPERATIONS	12 Months Ended
	Dec. 31, 2018
CONTINUANCE OF OPERATIONS [Text Block]	2. CONTINUANCE OF OPERATIONS The Company is in the early stages of development and as is common with any exploration company, it raises financing for its exploration and acquisition activities. Although the Company has incurred a gain of $1,306,183 for the year ended December 31, 2018, it has an accumulated a deficit of $26,921,347. Results for the year ended December 31, 2018 are not necessarily indicative of future results. However, these losses raise substantial doubt about its ability to continue as a going concern for one year from the issuance of the financial statements. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan, which is typical for junior exploration companies. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management of the Company (“Management”) is of the opinion that sufficient financing will be obtained from external financing and further share issuances to meet the Company’s obligations. At year ended December 31, 2018, the Company has working capital of $2,634,750. While sufficient to fund the required exploration programs for a period greater than 12 months, the Company does not have a demonstrably viable business to provide future funds. The Company’s discretionary exploration activities do have considerable scope for flexibility in terms of the amount and timing of exploration expenditure, and expenditures may be adjusted accordingly if required.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
SIGNIFICANT ACCOUNTING POLICIES [Text Block]	3. SIGNIFICANT ACCOUNTING POLICIES Generally accepted accounting principles These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America (“US GAAP”). Principles of consolidation These consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, XG Exploration (from February 16, 2004) and its 90% owned subsidiary, XG Mining (from December 22, 2004). All intercompany accounts and transactions have been eliminated on consolidation. Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties, inputs used in the calculation of stock-based compensation and warrants, inputs used in the calculation of the asset retirement obligation, and the valuation allowance applied to deferred income taxes. Actual results could differ from those estimates, and would impact future results of operations and cash flows. Cash and cash equivalents The Company considers highly liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2018, December 31, 2017 and December 31, 2016, cash and cash equivalents consisted of cash held at financial institutions. The Company has been required by the Ghanaian government to post a bond for environmental reclamation. This cash has been recorded as restricted cash, a non-current asset. Receivables Management has evaluated all receivables and has provided allowances for accounts where it deems collection doubtful. As of December 31, 2018, December 31, 2017, and December 31, 2016, the Company had not recorded any allowance for doubtful accounts. Inventory Inventories are initially recognized at cost and subsequently stated at the lower of cost or net realizable value. The Company’s inventory consists of raw gold. Costs are determined using the first-in, first-out (“ FIFO Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable due to declining selling prices, or other issues related to the sale of gold. Recovery of gold Recovery of gold and other income is recognized when title and the risks and rewards of ownership to delivered bullion and commodities pass to the buyer and collection is reasonably assured. Trading securities The Company’s trading securities are reported at fair value, with realized and unrealized gains and losses included in earnings. Non-Controlling Interest The consolidated financial statements include the accounts of XG Mining (from December 22, 2004). All intercompany accounts and transactions have been eliminated upon consolidation. The Company records a non-controlling interest which reflects the 10% portion of the earnings (loss) of XG Mining allocable to the holders of the minority interest. Equipment Equipment is recorded at cost and is being amortized over its estimated useful lives using the declining balance method at the following annual rates: Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20% Mineral properties and exploration and development costs The costs of acquiring mineral rights are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. Long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. Asset retirement obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost). Stock-based compensation The Company accounts for stock-based compensation under the provisions of ASC 718, “Compensation-Stock Compensation”. Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for all stock-based awards to employees and directors and is recognized as an expense over the requisite service period, which is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value. The Company accounts for stock compensation arrangements with non-employees in accordance with ASC 505 which requires that such equity instruments are recorded at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest. Non-employee stock-based compensation charges are amortized over the vesting period on a straight-line basis. For stock options granted to non-employees, the fair value of the stock options is estimated using a Black-Scholes valuation model. Warrants The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value using the appropriate valuation methodology and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. The warrants are presented as a liability because they do not meet the criteria of Accounting Standard Codification (“ASC”) topic 480 for equity classification. Subsequent changes in the fair value of the warrants are recorded in the consolidated statement of operations. Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized. Income (Loss) per share Basic loss per common share is computed using the weighted average number of common shares outstanding during the period. To calculate diluted loss per share, the Company uses the treasury stock method and if converted Foreign exchange The Company’s functional currency is the U.S. dollar. Any monetary assets and liabilities that are in a currency other than the U.S. dollar are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations. Financial instruments The Company’s financial instruments consist of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities. It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The fair values of these financial instruments approximate their carrying values unless otherwise noted. Cash in Canada is primarily held in financial institutions. Balances on hand may exceed insured maximums. Cash in Ghana is held in banks with a strong international presence. Ghana does not insure bank balances. Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosure about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. Investments in trading securities are classified as held for trading, with unrealized gains and losses being recognized in income. The following table presents information about the assets that are measured at fair value on a recurring basis as of December 31, 2018, 2017, and 2016, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset. Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 2,564,125 $ 2,564,125 $ — $ — Restricted cash 296,322 296,322 — — Investment in trading securities 471,723 471,723 — — Warrant liability (115,793 ) — — (115,793 ) Total $ 3,216,377 $ 3,332,170 $ — $ (115,793 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 1,364,652 $ 1,364,652 $ — $ — Restricted cash 246,322 246,322 — — Investment in trading securities 270,309 270,309 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,880,283 $ 1,881,283 $ — $ (1,000 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 913,562 $ 913,562 $ — $ — Restricted cash 221,322 221,322 — — Marketable securities 248,592 248,592 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,382,476 $ 1,383,476 $ — $ (1,000 ) The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources. The fair value of the warrant liability is determined through the Black Scholes valuation model. Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. As of December 31, 2018, the Company held $1,684,369 (December 31, 2017 - $737,523, December 31, 2016 - $694,941) in low risk money market funds which are not federally insured. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. The company has contracted to sell all its recovered gold through a licensed exporter in Ghana. Recent accounting pronouncements On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which deferred the effective date of the new revenue standard for periods beginning after December 15, 2016 to December 15, 2017, with early adoption permitted but not earlier than the original effective date. Accordingly, the updated standard is effective for us in the first quarter of fiscal 2019 and we do not plan to early adopt. Although we expect to use the cumulative effect method, we do not expect that this change will have a material effect on our consolidated financial statements and related disclosures. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern In July 2015, the FASB issued Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740), In November 2016, the FASB issued ASC Update No. 2016-18 (Topic 230) Statement of Cash Flows – Restricted Cash (a consensus of the FASB Emerging Issues Task Force). The amendments in this update require that restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Current GAAP does not include specific guidance on the cash flow classification and presentation of changes in restricted cash. The updated guidance is effective for interim and annual periods beginning after December 15, 2017 and is required to be applied using a retrospective transition method to each period presented. The Company implemented this guidance effective January 1, 2018. Implementing this guidance did not have an impact on the Company’s statement of cash flows, as restricted cash, if any, has already been included in total cash and cash equivalents. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities On February 24, 2016, the FASB issued ASU No. 2016-02, Leases On March 30, 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and supersedes the guidance in Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. Under ASU 2018-07, equity-classified nonemployee share-based payment awards are measured at the grant date fair value on the grant date. The probability of satisfying performance conditions must be considered for equity-classified nonemployee share-based payment awards with such conditions. ASU 2018-07 iseffective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new standard on the Company's Consolidated Financial Statements.

INVESTMENTS IN TRADING SECURITI

INVESTMENTS IN TRADING SECURITIES	12 Months Ended
	Dec. 31, 2018
INVESTMENTS IN TRADING SECURITIES [Text Block]	4. INVESTMENTS IN TRADING SECURITIES At December 31, 2018, the Company held investments classified as trading securities, which consisted of various equity securities. All trading securities are carried at fair value. As of December 31, 2018, the fair value of trading securities was $795,765 (December 31, 2017 – $530,829, December 31, 2016 – $511,672). December 31, 2018 December 31, 2017 December 31, 2016 Investments in trading securities at cost $ 795,765 $ 530,829 $ 511,672 Unrealized losses (324,042 ) (260,520 ) (263,080 ) Investments in trading securities at fair market value $ 471,723 $ 270,309 $ 248,592

EQUIPMENT

EQUIPMENT	12 Months Ended
	Dec. 31, 2018
EQUIPMENT [Text Block]	5. EQUIPMENT December 31, 2018 Accumulated Net Book Cost Amortization Value Furniture and equipment $ — $ — $ — Computer equipment — — — Exploration equipment 1,758,619 1,366,087 392,532 Vehicles 456,784 348,439 108,345 $ 2,215,403 $ 1,714,526 $ 500,877 The company expensed $138,304 for amortization in 2018. December 31, 2017 Accumulated Net Book Cost Amortization Value Furniture and equipment $ 8,358 $ 8,358 $ — Computer equipment 20,274 20,274 — Exploration equipment 1,738,849 1,255,906 482,943 Vehicles 358,936 320,316 38,620 $ 2,126,417 $ 1,604,854 $ 521,563 The company expensed $124,957 for amortization in 2017. December 31, 2016 Accumulated Net Book Cost Amortization Value Furniture and equipment $ 8,358 $ 8,358 $ — Computer equipment 20,274 20,274 — Exploration equipment 1,464,478 1,144,382 320,096 Vehicles 333,989 306,883 27,106 $ 1,827,099 $ 1,479,897 $ 347,202 The company expensed $139,323 for amortization in 2016.

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Dec. 31, 2018
MINERAL PROPERTIES [Text Block]	6. MINERAL PROPERTIES December 31, December 31, December 31, 2018 2017 2016 Acquisition costs $ 1,607,729 $ 1,607,729 $ 1,607,729 Asset retirement obligation (Note 7) 8,133 8,133 8,133 Option payments received (881,440 ) (881,440 ) (881,440 ) Total $ 734,422 $ 734,422 $ 734,422 Kibi, Kwabeng and Pameng Projects The Company holds an individual mining lease over the lease area of each of the Kibi Project, the Kwabeng Project and the Pameng Project, all of which are located in Ghana. The mining leases for the Kwabeng and Pameng Projects grant the Company mining rights to produce gold in the respective lease areas until July 26, 2019. All required documentation to extend the lease for our Kibi Project (formerly known as the Apapam Project) for 15 years from December 17, 2015 has been submitted to the Ghana Minerals Commission. No additional information was requested or submitted in the year ended December 31, 2018. As these extensions generally take years for the regulatory review to be completed, the Company is not yet in receipt of the extension approval. However, until the Company receives the extension documents, the old lease remains in force under the mineral laws. The extension is in accordance with the terms of application and payment of fees to the Minerals Commission of Ghana (“Mincom”). All gold production will be subject to a production royalty of the net smelter returns (“NSR”) payable to the Government of Ghana. Banso and Muoso Projects During the year ended December 31, 2010, the Company made an application to Mincom to convert a single prospecting license (“PL”) securing its interest in the Banso and Muoso Projects located in Ghana to a mining lease covering the lease area of each of these Projects. This application was approved by Mincom who subsequently made recommendation to the Minister of Lands, Forestry and Mines to grant an individual mining lease for each Project. Subsequent to the year ended December 31, 2010, the Government of Ghana granted two mining leases for these Projects dated January 6, 2011. These mining leases grant the Company mining rights to produce gold in the respective lease areas until January 5, 2025 with respect to the Banso Project and until January 5, 2024 with respect to the Muoso Project. These mining leases supersede the PL previously granted to the Company. Among other things, both mining leases require that the Company (i) pay the Government of Ghana a fee of $30,000 in consideration of granting of each lease (paid in the March 2011 quarter); (ii) pay annual ground rent of GH¢260.00 (USD$167) for the Banso Project and GH¢280.00 (USD$180) for the Muoso Project; (iii) commence commercial production of gold within two years from the date of the mining leases; and (iv) pay a production royalty to the Government of Ghana. The Company has filed for the necessary permits to commence work on the project. The permits were approved and work has commenced on the properties. The Company executed a letter of intent (“LOI”) with Buccaneer Gold Corp. (“Buccaneer”), formerly Verbina Resources Inc., a company related by two directors in common, on July 21, 2010 whereby Buccaneer could acquire an undivided 55% interest in the Company’s interest in the mineral rights of the Company’s Banso and Muoso concessions (“Concessions”). On January 21, 2011, the terms of the agreement were amended. On November 22, 2016, the Company announced that Buccaneer had abandoned its rights in respect of the Concessions. Mining lease and prospecting license commitments The Company is committed to expend, from time to time fees payable (a) to the Minerals Commission for: (i) an extension of an expiry date of a prospecting license (currently $15,000 for each occurrence); (ii) a grant of a mining lease (currently $100,000); (iii) an extension of a mining lease (currently $100,000); (iv) annual operating permits; and (v) the conversion of a reconnaissance license to a prospecting license (currently $20,000); (b) to the Environmental Protection Agency (“EPA”) (of Ghana) for: (i) processing and certificate fees with respect to EPA permits; (ii) the issuance of permits before the commencement of any work at a particular concession; or (iii) the posting of a bond in connection with any mining operations undertaken by the Company; (c) for a legal obligation associated with our mineral properties for clean up costs when work programs are completed; and (d) an aggregate of less than $500 in connection with annual ground rent and mining permits to enter upon and gain access to the areas covered by the Company’s mining leases and future reconnaissance and prospecting licenses and such other financial commitments arising out of any approved exploration programs in connection therewith.

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	12 Months Ended
	Dec. 31, 2018
ASSET RETIREMENT OBLIGATION [Text Block]	7. ASSET RETIREMENT OBLIGATION December 31, December 31, December 31, 2018 2017 2016 Balance, beginning of year $ 205,201 $ 216,000 $ 145,029 Change in obligation (16,973 ) (10,799 ) 70,971 Accretion expense — — — Balance, end of year $ 188,228 $ 205,201 $ 216,000 The Company has a legal obligation associated with its mineral properties for clean up costs when work programs are completed. The undiscounted amount of cash flows, required over the estimated reserve life of the underlying assets, to settle the obligation, adjusted for inflation, is estimated at $188,228 (2017 - $205,201, 2016 - $216,000). During 2018, 2017 and 2016, the obligation was estimated based on actual reclamation cost experience on an average per acre basis and the remaining acres to be reclaimed. It is expected that this obligation will be funded from general Company resources at the time the costs are incurred. The Company has been required by the Ghanaian government to post a bond of US$296,322 which has been recorded in restricted cash.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2018
CAPITAL STOCK [Text Block]	8. CAPITAL STOCK Issuances of shares The Company did not issue shares during the year ended December 31, 2018. During the year ended December 31, 2017, the Company issued 162,000 shares at CAD$0.15 per share for proceeds of CAD$24,300 ($18,560) on exercise of stock options. During the year ended December 31, 2016, the Company issued 2,500,000 units at CAD$0.40 per unit for proceeds of $693,728 net of costs. Each unit was comprised of one common share and one half of one common share purchase warrant. Each full purchase warrant was convertible into one common share of the Company at a price of CAD$0.65 for a period of 15 months from closing. In August 2018, the maturity term on these warrants was extended to February 25, 2020 and the exercise price was maintained at CAD$0.50. The Company reported an expense of $11,147 related to the extension of the warrants, using the Black-Scholes valuation method. The Company also issued 147,000 finders warrants with this financing. Each finders warrant was convertible into one common share of the Company at a price of CAD$0.65 for a period of 15 months from closing. The finder warrants expired unexercised. During the year ended December 31, 2016, the Company issued 408,000 shares at CAD$0.15 per share for proceeds of $48,756 on exercise of stock options. Cancellation of shares During the year ended December 31, 2018, a total of 1,536,500 common shares were re-purchased for $290,985 and cancelled. During the year ended December 31, 2017, a total of 554,000 common shares were re-purchased for $100,239 and cancelled. During the year ended December 31, 2016, a total of 396,000 common shares were re-purchased for $69,774 and cancelled. Stock options At June 30, 2011, the Company adopted a new 10% rolling stock option plan (the “2011 Plan”) and cancelled the 2005 equity compensation plan. Pursuant to the 2011 Plan, the Company is entitled to grant options and reserve for issuance up to 10% of the shares issued and outstanding at the time of grant. The terms and conditions of any options granted, including the number and type of options, the exercise period, the exercise price and vesting provisions, are determined by the Compensation Committee which makes recommendations to the board of directors for their approval. The maximum term of options granted cannot exceed 10 years. The TSX’s rules relating to security-based compensation arrangements require that every three years after the institution of a security-based compensation arrangement which does not have a fixed maximum aggregate of securities issuable, all unallocated options must be approved by a majority of the Company’s directors and by the Company’s shareholders. The Board approved all unallocated options under the Option Plan on March 28, 2017 which was approved by the Company’s shareholders at the annual and special meeting held on May 17, 2017. At December 31, 2018, the following stock options were outstanding: Number of Exercise Expiry Date Options Price 54,000 CAD$0.50 June 1, 2020 63,000 CDN$0.15 June 1, 2020 48,000 CDN$0.225 June 1, 2020 90,000 CDN$0.50 July 1, 2020 150,000 CDN$0.30 November 1, 2020 30,000 CDN$0.50 March 1, 2021 100,000 CDN$0.225 March 1, 2021 108,000 CDN$0.15 June 10, 2021 125,000 CDN$0.65 July 25, 2021 125,000 CDN$0.27 July 1, 2022 382,000 CDN$0.15 December 31, 2022 690,000 CDN$0.30 July 1, 2023 250,000 CDN$0.20 October 8, 2025 400,000 CDN$0.40 May 5, 2026 Stock option transactions and the number of stock options outstanding are summarized as follows: December 31, 2018 December 31, 2017 December 31, 2016 Weighted Weighted Weighted Number of Average Number of Average Number of Average Options Exercise Options Exercise Options Exercise Price Price Price Outstanding, beginning of year 2,615,000 $ 0.23 1,920,000 $ 0.23 2,235,000 $ 0.16 Granted — — 965,000 $ 0.24 525,000 $ 0.36 Exercised — — (162,000) $ 0.12 (408,000) $ 0.12 Cancelled/Expired — — (108,000) $ 0.36 (432,000) $ 0.16 Outstanding, end of year 2,615,000 $ 0.23 2,615,000 $ 0.23 1,920,000 $ 0.23 Exercisable, end of year 2,615,500 $ 0.23 2,505,500 $ 0.23 1,920,000 $ 0.23 The aggregate intrinsic value for options vested and for total options as of December 31, 2018 is approximately $280,232 (December 31, 2017 - $22,041, December 31, 2016 - $57,059). The weighted average contractual term of stock options outstanding and exercisable as at December 31, 2018 is 5.0 years (December 31, 2017 – 6.0 years, December 31, 2016 – 5.6 years). The fair value of stock options granted, vested, and modified during the year ended December 31, 2018 was $33,437, (December 31, 2017 was $103,001 and December 31, 2016 - $104,519) which has been included in general and administrative expense. The following assumptions were used for the Black-Scholes valuation of stock options amended during the years ended December 31, 2018, 2017, and 2016: 2018 2017 2016 Risk-free interest rate 1.75% 1.75% 1.52% Expected life 1.8 to 2.6 years 2 to 7.5 years 2 to 7.5 years Annualized volatility 73% 61% to 68% 61% to 68% Dividend rate — — — During 2017 the Company granted 610,000 options to insiders at a price of $0.24 (CAD$0.30) . A further 80,000 options were granted to non-insiders at a price of $0.24 (CAD$0.30) . Consultants received 125,000 options priced at $0.21 (CAD$0.27) and 150,000 at $0.24 (CAD$0.30) . There were 400,000 option grants during 2016 to an insider of the Company at $0.31 (CAD$0.40) . A further 125,000 options were granted during 2016 to a consultant of the company at $0.50 (CAD$0.65). Warrants At December 31, 2018, the following warrants were outstanding: Number of Warrants Exercise Price Expiry Date 1,250,000 CAD$0.50 February 25, 2020 Warrant transactions and the number of warrants outstanding are summarized as follows: 2018 2017 2016 Balance, beginning of period 1,250,000 CAD$ 0.50 1,397,000 CAD$0.65 — Issued — — 1,397,000 CAD$0.65 Exercised — — — Expired — (147,000 ) CAD$0.65 — Balance, end of period 1,250,000 CAD$ 0.50 1,250,000 CAD$0.50 1,397,000 CAD$0.65 Under US GAAP when the strike price of the warrants is denominated in a currency other than an entity's functional currency, the warrants would not be considered indexed to the entity’s own stock, and would consequently be considered to be a derivative liability. The common share purchase warrants described above are denominated in CAD dollars and the Company’s functional currency is the US dollar. As a result, the Company determined that these warrants are not considered indexed to the Company’s own stock and characterized the fair value of these warrants as derivative liabilities upon issuance. The derivative will be subsequently marked to market through income. The Company determined that the fair value of the warrant liability using the Black-Scholes Options Pricing Model at May 25, 2016 to be $70,712. In August 2017, the Company extended the term of the non-broker warrants until August 25, 2018 and decreased the strike price of the warrants to CAD$0.50. The Company determined that the warrant extension created a fair value of the warrant liability using the Black-Scholes Options Pricing Model at August 25, 2017 of $17,112. The Company recorded the full value of the derivative as a liability at issuance and recognized the amount as financing expense in the consolidated statement of operations. In August 2017, a further charge was recognized when the non-broker warrants were extended and the strike price was changed. At December 31, 2017and December 31, 2016, the fair value adjustment was recognized in the consolidated statement of operations. In August 2018, the Company extended the term of the warrants until February 25, 2020, leaving the strike price unchanged. The Company determined that the warrant extension created a fair value of the warrant liability using the Black-Scholes Options Pricing Model at August 25, 2018 of $11,147. This value was recognized as an expense in the period incurred. The fair value of the warrants estimated at December 31, 2018 using the Black-Scholes Options Pricing Model was $115,793. (December 31, 2017 - $1,000, December 31, 2016 - $1,000).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
RELATED PARTY TRANSACTIONS [Text Block]	9. RELATED PARTY TRANSACTIONS During the years ended December 31, 2018, December 31, 2017 and December 31, 2016, the Company entered into the following transactions with related parties: December 31, December 31, December 31, 2018 2017 2016 Consulting fees paid or accrued to officers or their companies $ 850,028 $ 610,821 $ 539,706 Directors’ fees 2,316 2,310 2,267 Stock option grants to officers and directors — 610,000 400,000 Stock option grant price range — $ 0.24 $ 0.31 Of the total consulting fees noted above, $548,585 (December 31, 2017 - $318,456, December 31, 2016 - $256,319) was incurred by the Company to a private company of which a related party is a 50% shareholder and director. The related party was entitled to receive $274,292 (December 31, 2017 - $159,228, December 31, 2016 - $127,348) of this amount. As at December 31, 2018, $53,632 (December 31, 2017, $47,924, December 31, 2016 - $47,792) remains payable to this related company and $3,800 (December 31, 2017 - $5,000, December 31, 2016 - $5,000) remains payable to the related party for expenses earned for work on behalf of the Company. During 2017 the Company granted 610,000 options to insiders at a price of $0.24 (CAD$0.30). A total of $75,502 was included in consulting fees related to these options. In 2016, a total of 400,000 stock options were issued to an officer of the Company at a strike price of $0.31 per share. A total of $89,643 was included in consulting fees related to these options. In 2015, a total of 250,000 stock options were issued to directors of the Company at a strike price of $0.15 per share. A total of $18,175 was included in consulting fees related to these options.

SUPPLEMENTAL DISCLOSURE WITH RE

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS	12 Months Ended
	Dec. 31, 2018
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS [Text Block]	10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS December 31, December 31, December 31, 2018 2017 2016 Cash paid during the period for: Interest $ — $ 1,008 $ 14,540 Income taxes $ — $ — $ — There were no significant non-cash transactions during the years ended December 31, 2018, December 31, 2017, or December 31, 2016.

DEFERRED INCOME TAXES

DEFERRED INCOME TAXES	12 Months Ended
	Dec. 31, 2018
DEFERRED INCOME TAXES [Text Block]	11. DEFERRED INCOME TAXES On November 30, 2012, the Company changed its residency address from the USA to the British Virgin Islands. The Company has no presence/nexus within the United States of America, nor any of its States and therefore is not required to file Income/Franchise, etc. tax returns in the United States of America, nor any of its States. Therefore, no US Tax provision is required with this filing, based upon Management representations, as described.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
	Dec. 31, 2018
SEGMENTED INFORMATION [Text Block]	12. SEGMENTED INFORMATION The Company has one reportable segment, being the exploration and development of resource properties. Geographic information is as follows: December 31, December 31, December 31, 2018 2017 2016 Cash and restricted cash: Canada $ 1,708,013 $ 815,526 $ 772,535 Ghana 1,152,434 795,448 362,349 Total cash and restricted cash 2,860,447 1,610,974 1,134,884 Capital assets Canada — — — Ghana 1,235,299 1,255,985 1,081,624 Total capital assets 1,235,299 1,255,985 1,081,624 Total $ 4,095,746 $ 2,866,959 $ 2,216,508 Net (loss) profit: Canada $ (791,818 ) $ (526,836 ) $ (599,442 ) Ghana 2,098,001 882,691 118,558 Total $ 1,306,183 $ 355,855 $ (480,884 )

CONTINGENCY AND COMMITMENTS

CONTINGENCY AND COMMITMENTS	12 Months Ended
	Dec. 31, 2018
CONTINGENCY AND COMMITMENTS [Text Block]	13. CONTINGENCY AND COMMITMENTS In late 2009, the Government of Ghana announced an increase in the gross overriding royalty (“GOR”) required payable by all mining companies in the country from 3% to 5%. The industry standard remained at 3% due to stability agreements which were in place with a number of companies. From the commencement of gold recovery in July 2010 to September 2010, the Company paid the GOR at 5% and as of October 2010, the Company began to pay the GOR at 3% until July 1, 2011 when the Company again paid the royalty at 5%. As a result of this decision, there is a potential unrecorded liability of $84,300 related to 2010 activities and a recorded liability of $120,000 related to 2011 activities. Although the Company believes it is unlikely that these amounts will become payable a provision has been recorded due to the uncertainty of the timing of the increase. The Government of Ghana initially required an environmental bond of $385,000 for the Banso permit and $327,000 for the Muoso permit. The Company has submitted a request for a reduction of these fees to the government and is awaiting a response. The Company is a party to two pending lawsuits. The first lawsuit claims mining activities of the Company are illegal and cause substantial environmental damage to the community. The second lawsuit claims that all leases issued to mining companies in Ghana violate the Ghana Constitution and are therefore illegal. The Company will defend itself in each of these lawsuits.

SUBSEQUENT EVENT NOTE

SUBSEQUENT EVENT NOTE	12 Months Ended
	Dec. 31, 2018
SUBSEQUENT EVENT NOTE [Text Block]	14. SUBSEQUENT EVENT NOTE Subsequent to December 31, 2018, the Company announced that it intends to proceed with a share repurchase plan in 2019. Under the terms of the plan, which commences on February 13, 2019, the Company will be able to repurchase up to 4,000,000 shares.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Generally accepted accounting principles [Policy Text Block]	Generally accepted accounting principles These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America (“US GAAP”).
Principles of consolidation [Policy Text Block]	Principles of consolidation These consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, XG Exploration (from February 16, 2004) and its 90% owned subsidiary, XG Mining (from December 22, 2004). All intercompany accounts and transactions have been eliminated on consolidation.
Use of estimates [Policy Text Block]	Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties, inputs used in the calculation of stock-based compensation and warrants, inputs used in the calculation of the asset retirement obligation, and the valuation allowance applied to deferred income taxes. Actual results could differ from those estimates, and would impact future results of operations and cash flows.
Cash and cash equivalents [Policy Text Block]	Cash and cash equivalents The Company considers highly liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2018, December 31, 2017 and December 31, 2016, cash and cash equivalents consisted of cash held at financial institutions. The Company has been required by the Ghanaian government to post a bond for environmental reclamation. This cash has been recorded as restricted cash, a non-current asset.
Receivables [Policy Text Block]	Receivables Management has evaluated all receivables and has provided allowances for accounts where it deems collection doubtful. As of December 31, 2018, December 31, 2017, and December 31, 2016, the Company had not recorded any allowance for doubtful accounts.
Inventory [Policy Text Block]	Inventory Inventories are initially recognized at cost and subsequently stated at the lower of cost or net realizable value. The Company’s inventory consists of raw gold. Costs are determined using the first-in, first-out (“ FIFO Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable due to declining selling prices, or other issues related to the sale of gold.
Recovery of gold [Policy Text Block]	Recovery of gold Recovery of gold and other income is recognized when title and the risks and rewards of ownership to delivered bullion and commodities pass to the buyer and collection is reasonably assured.
Trading securities [Policy Text Block]	Trading securities The Company’s trading securities are reported at fair value, with realized and unrealized gains and losses included in earnings.
Non-Controlling Interest [Policy Text Block]	Non-Controlling Interest The consolidated financial statements include the accounts of XG Mining (from December 22, 2004). All intercompany accounts and transactions have been eliminated upon consolidation. The Company records a non-controlling interest which reflects the 10% portion of the earnings (loss) of XG Mining allocable to the holders of the minority interest.
Equipment [Policy Text Block]	Equipment Equipment is recorded at cost and is being amortized over its estimated useful lives using the declining balance method at the following annual rates: Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20%
Mineral properties and exploration and development costs [Policy Text Block]	Mineral properties and exploration and development costs The costs of acquiring mineral rights are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset.
Long-lived assets [Policy Text Block]	Long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell.
Asset retirement obligations [Policy Text Block]	Asset retirement obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost).
Stock-based compensation [Policy Text Block]	Stock-based compensation The Company accounts for stock-based compensation under the provisions of ASC 718, “Compensation-Stock Compensation”. Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for all stock-based awards to employees and directors and is recognized as an expense over the requisite service period, which is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value. The Company accounts for stock compensation arrangements with non-employees in accordance with ASC 505 which requires that such equity instruments are recorded at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest. Non-employee stock-based compensation charges are amortized over the vesting period on a straight-line basis. For stock options granted to non-employees, the fair value of the stock options is estimated using a Black-Scholes valuation model.
Warrants [Policy Text Block]	Warrants The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value using the appropriate valuation methodology and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. The warrants are presented as a liability because they do not meet the criteria of Accounting Standard Codification (“ASC”) topic 480 for equity classification. Subsequent changes in the fair value of the warrants are recorded in the consolidated statement of operations.
Income taxes [Policy Text Block]	Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized.
Income (Loss) per share [Policy Text Block]	Income (Loss) per share Basic loss per common share is computed using the weighted average number of common shares outstanding during the period. To calculate diluted loss per share, the Company uses the treasury stock method and if converted
Foreign exchange [Policy Text Block]	Foreign exchange The Company’s functional currency is the U.S. dollar. Any monetary assets and liabilities that are in a currency other than the U.S. dollar are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations.
Financial instruments [Policy Text Block]	Financial instruments The Company’s financial instruments consist of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities. It is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The fair values of these financial instruments approximate their carrying values unless otherwise noted. Cash in Canada is primarily held in financial institutions. Balances on hand may exceed insured maximums. Cash in Ghana is held in banks with a strong international presence. Ghana does not insure bank balances.
Fair value of financial assets and liabilities [Policy Text Block]	Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosure about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. Investments in trading securities are classified as held for trading, with unrealized gains and losses being recognized in income. The following table presents information about the assets that are measured at fair value on a recurring basis as of December 31, 2018, 2017, and 2016, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset. Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 2,564,125 $ 2,564,125 $ — $ — Restricted cash 296,322 296,322 — — Investment in trading securities 471,723 471,723 — — Warrant liability (115,793 ) — — (115,793 ) Total $ 3,216,377 $ 3,332,170 $ — $ (115,793 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 1,364,652 $ 1,364,652 $ — $ — Restricted cash 246,322 246,322 — — Investment in trading securities 270,309 270,309 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,880,283 $ 1,881,283 $ — $ (1,000 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 913,562 $ 913,562 $ — $ — Restricted cash 221,322 221,322 — — Marketable securities 248,592 248,592 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,382,476 $ 1,383,476 $ — $ (1,000 ) The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources. The fair value of the warrant liability is determined through the Black Scholes valuation model.
Concentration of credit risk [Policy Text Block]	Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. As of December 31, 2018, the Company held $1,684,369 (December 31, 2017 - $737,523, December 31, 2016 - $694,941) in low risk money market funds which are not federally insured. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. The company has contracted to sell all its recovered gold through a licensed exporter in Ghana.
Recent accounting pronouncements [Policy Text Block]	Recent accounting pronouncements On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date, which deferred the effective date of the new revenue standard for periods beginning after December 15, 2016 to December 15, 2017, with early adoption permitted but not earlier than the original effective date. Accordingly, the updated standard is effective for us in the first quarter of fiscal 2019 and we do not plan to early adopt. Although we expect to use the cumulative effect method, we do not expect that this change will have a material effect on our consolidated financial statements and related disclosures. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements—Going Concern In July 2015, the FASB issued Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740), In November 2016, the FASB issued ASC Update No. 2016-18 (Topic 230) Statement of Cash Flows – Restricted Cash (a consensus of the FASB Emerging Issues Task Force). The amendments in this update require that restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Current GAAP does not include specific guidance on the cash flow classification and presentation of changes in restricted cash. The updated guidance is effective for interim and annual periods beginning after December 15, 2017 and is required to be applied using a retrospective transition method to each period presented. The Company implemented this guidance effective January 1, 2018. Implementing this guidance did not have an impact on the Company’s statement of cash flows, as restricted cash, if any, has already been included in total cash and cash equivalents. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities On February 24, 2016, the FASB issued ASU No. 2016-02, Leases On March 30, 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and supersedes the guidance in Subtopic 505-50, Equity - Equity-Based Payments to Non-Employees. Under ASU 2018-07, equity-classified nonemployee share-based payment awards are measured at the grant date fair value on the grant date. The probability of satisfying performance conditions must be considered for equity-classified nonemployee share-based payment awards with such conditions. ASU 2018-07 iseffective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new standard on the Company's Consolidated Financial Statements.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Equipment, Declining Method Annual Rates [Table Text Block]	Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20%
Schedule of Fair Value of Financial Assets And Liabilities [Table Text Block]	Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2018 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 2,564,125 $ 2,564,125 $ — $ — Restricted cash 296,322 296,322 — — Investment in trading securities 471,723 471,723 — — Warrant liability (115,793 ) — — (115,793 ) Total $ 3,216,377 $ 3,332,170 $ — $ (115,793 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 1,364,652 $ 1,364,652 $ — $ — Restricted cash 246,322 246,322 — — Investment in trading securities 270,309 270,309 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,880,283 $ 1,881,283 $ — $ (1,000 ) Significant Quoted Prices Other Significant in Active Observable Unobservable December 31, Markets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 913,562 $ 913,562 $ — $ — Restricted cash 221,322 221,322 — — Marketable securities 248,592 248,592 — — Warrant liability (1,000 ) — — (1,000 ) Total $ 1,382,476 $ 1,383,476 $ — $ (1,000 )

INVESTMENTS IN TRADING SECURI_2

INVESTMENTS IN TRADING SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Investments [Table Text Block]	December 31, 2018 December 31, 2017 December 31, 2016 Investments in trading securities at cost $ 795,765 $ 530,829 $ 511,672 Unrealized losses (324,042 ) (260,520 ) (263,080 ) Investments in trading securities at fair market value $ 471,723 $ 270,309 $ 248,592

EQUIPMENT (Tables)

EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Equipment [Table Text Block]	December 31, 2018 Accumulated Net Book Cost Amortization Value Furniture and equipment $ — $ — $ — Computer equipment — — — Exploration equipment 1,758,619 1,366,087 392,532 Vehicles 456,784 348,439 108,345 $ 2,215,403 $ 1,714,526 $ 500,877 December 31, 2017 Accumulated Net Book Cost Amortization Value Furniture and equipment $ 8,358 $ 8,358 $ — Computer equipment 20,274 20,274 — Exploration equipment 1,738,849 1,255,906 482,943 Vehicles 358,936 320,316 38,620 $ 2,126,417 $ 1,604,854 $ 521,563 December 31, 2016 Accumulated Net Book Cost Amortization Value Furniture and equipment $ 8,358 $ 8,358 $ — Computer equipment 20,274 20,274 — Exploration equipment 1,464,478 1,144,382 320,096 Vehicles 333,989 306,883 27,106 $ 1,827,099 $ 1,479,897 $ 347,202

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Mineral Properties Acquired [Table Text Block]	December 31, December 31, December 31, 2018 2017 2016 Acquisition costs $ 1,607,729 $ 1,607,729 $ 1,607,729 Asset retirement obligation (Note 7) 8,133 8,133 8,133 Option payments received (881,440 ) (881,440 ) (881,440 ) Total $ 734,422 $ 734,422 $ 734,422

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Asset Retirement Obligations [Table Text Block]	December 31, December 31, December 31, 2018 2017 2016 Balance, beginning of year $ 205,201 $ 216,000 $ 145,029 Change in obligation (16,973 ) (10,799 ) 70,971 Accretion expense — — — Balance, end of year $ 188,228 $ 205,201 $ 216,000

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Stock Options Outstanding [Table Text Block]	Number of Exercise Expiry Date Options Price 54,000 CAD$0.50 June 1, 2020 63,000 CDN$0.15 June 1, 2020 48,000 CDN$0.225 June 1, 2020 90,000 CDN$0.50 July 1, 2020 150,000 CDN$0.30 November 1, 2020 30,000 CDN$0.50 March 1, 2021 100,000 CDN$0.225 March 1, 2021 108,000 CDN$0.15 June 10, 2021 125,000 CDN$0.65 July 25, 2021 125,000 CDN$0.27 July 1, 2022 382,000 CDN$0.15 December 31, 2022 690,000 CDN$0.30 July 1, 2023 250,000 CDN$0.20 October 8, 2025 400,000 CDN$0.40 May 5, 2026
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	December 31, 2018 December 31, 2017 December 31, 2016 Weighted Weighted Weighted Number of Average Number of Average Number of Average Options Exercise Options Exercise Options Exercise Price Price Price Outstanding, beginning of year 2,615,000 $ 0.23 1,920,000 $ 0.23 2,235,000 $ 0.16 Granted — — 965,000 $ 0.24 525,000 $ 0.36 Exercised — — (162,000) $ 0.12 (408,000) $ 0.12 Cancelled/Expired — — (108,000) $ 0.36 (432,000) $ 0.16 Outstanding, end of year 2,615,000 $ 0.23 2,615,000 $ 0.23 1,920,000 $ 0.23 Exercisable, end of year 2,615,500 $ 0.23 2,505,500 $ 0.23 1,920,000 $ 0.23
Schedule of Share-based Compensation, Stock Options Black-Scholes Valuation Assumptions [Table Text Block]	2018 2017 2016 Risk-free interest rate 1.75% 1.75% 1.52% Expected life 1.8 to 2.6 years 2 to 7.5 years 2 to 7.5 years Annualized volatility 73% 61% to 68% 61% to 68% Dividend rate — — —
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Warrants Exercise Price Expiry Date 1,250,000 CAD$0.50 February 25, 2020
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]	2018 2017 2016 Balance, beginning of period 1,250,000 CAD$ 0.50 1,397,000 CAD$0.65 — Issued — — 1,397,000 CAD$0.65 Exercised — — — Expired — (147,000 ) CAD$0.65 — Balance, end of period 1,250,000 CAD$ 0.50 1,250,000 CAD$0.50 1,397,000 CAD$0.65

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Related Party Transactions [Table Text Block]	December 31, December 31, December 31, 2018 2017 2016 Consulting fees paid or accrued to officers or their companies $ 850,028 $ 610,821 $ 539,706 Directors’ fees 2,316 2,310 2,267 Stock option grants to officers and directors — 610,000 400,000 Stock option grant price range — $ 0.24 $ 0.31

SUPPLEMENTAL DISCLOSURE WITH _2

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	December 31, December 31, December 31, 2018 2017 2016 Cash paid during the period for: Interest $ — $ 1,008 $ 14,540 Income taxes $ — $ — $ —

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Segmented Information [Table Text Block]	December 31, December 31, December 31, 2018 2017 2016 Cash and restricted cash: Canada $ 1,708,013 $ 815,526 $ 772,535 Ghana 1,152,434 795,448 362,349 Total cash and restricted cash 2,860,447 1,610,974 1,134,884 Capital assets Canada — — — Ghana 1,235,299 1,255,985 1,081,624 Total capital assets 1,235,299 1,255,985 1,081,624 Total $ 4,095,746 $ 2,866,959 $ 2,216,508 Net (loss) profit: Canada $ (791,818 ) $ (526,836 ) $ (599,442 ) Ghana 2,098,001 882,691 118,558 Total $ 1,306,183 $ 355,855 $ (480,884 )

HISTORY AND ORGANIZATION OF T_2

HISTORY AND ORGANIZATION OF THE COMPANY (Narrative) (Details)	Dec. 31, 2004
Goldenrae Mining Company Limited [Member]
Equity Method Investment, Ownership Percentage	90.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	10.00%
Canadiana Gold Resources Limited [Member]
Equity Method Investment, Ownership Percentage	100.00%

CONTINUANCE OF OPERATIONS (Narr

CONTINUANCE OF OPERATIONS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income (loss) attributable to Xtra-Gold Resources Corp.	$ 1,306,183	$ 355,855	$ (480,884)
Deficit accumulated	(26,921,347)	$ (28,227,530)	$ (28,583,385)
Working capital	$ 2,634,750

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Warrant or Right, Outstanding	1,250,000	1,250,000	1,397,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	2,615,000	2,615,000	1,920,000	2,235,000
Diluted weighted average number of common shares outstanding	49,405,027	51,339,216	47,256,630
Basic weighted average number of common shares outstanding	47,089,027	47,948,596	47,256,630
Cash, Uninsured Amount	$ 1,684,369	$ 737,523	$ 694,941
XG Mining [Member]
Equity Method Investment, Ownership Percentage	90.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	10.00%

INVESTMENTS IN TRADING SECURI_3

INVESTMENTS IN TRADING SECURITIES (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Trading Securities	$ 795,765	$ 530,829	$ 511,672

EQUIPMENT (Narrative) (Details)

EQUIPMENT (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amortization	$ 138,304	$ 124,957	$ 139,323

MINERAL PROPERTIES (Narrative)

MINERAL PROPERTIES (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2010USD ($)	Dec. 31, 2010GHS (GH₵)	Jul. 21, 2010
Terms of mining leases	Among other things, both mining leases require that the Company (i) pay the Government of Ghana a fee of $30,000 in consideration of granting of each lease (paid in the March 2011 quarter); (ii) pay annual ground rent of GH¢260.00 (USD$167) for the Banso Project and GH¢280.00 (USD$180) for the Muoso Project; (iii) commence commercial production of gold within two years from the date of the mining leases; and (iv) pay a production royalty to the Government of Ghana.
Letter of intent	The Company executed a letter of intent ("LOI") with Buccaneer Gold Corp. ("Buccaneer"), formerly Verbina Resources Inc., a company related by two directors in common, on July 21, 2010 whereby Buccaneer could acquire an undivided 55% interest in the Company's interest in the mineral rights of the Company's Banso and Muoso concessions ("Concessions").
Mining lease and prospecting license commitments	The Company is committed to expend, from time to time fees payable (a) to the Minerals Commission for: (i) an extension of an expiry date of a prospecting license (currently $15,000 for each occurrence); (ii) a grant of a mining lease (currently $100,000); (iii) an extension of a mining lease (currently $100,000); (iv) annual operating permits; and (v) the conversion of a reconnaissance license to a prospecting license (currently $20,000); (b) to the Environmental Protection Agency ("EPA") (of Ghana) for: (i) processing and certificate fees with respect to EPA permits; (ii) the issuance of permits before the commencement of any work at a particular concession; or (iii) the posting of a bond in connection with any mining operations undertaken by the Company; (c) for a legal obligation associated with our mineral properties for clean up costs when work programs are completed; and (d) an aggregate of less than $500 in connection with annual ground rent and mining permits to enter upon and gain access to the areas covered by the Company's mining leases and future reconnaissance and prospecting licenses and such other financial commitments arising out of any approved exploration programs in connection therewith.
Extension of prospecting license	$ 15,000
Grant of a mining lease	100,000
Extension of a mining lease	100,000
Conversion of a reconnaissance license to a prospecting license	20,000
Maximum threshold limit of annual ground rent	$ 500
Banso and Muoso Projects
Payments to acquire lease		$ 30,000
Banso Projects
Annual ground rent of mining		167	GH₵ 260
Muoso Projects
Annual ground rent of mining		$ 180	GH₵ 280
Buccaneer Gold Corp. ("Buccaneer")
Percentage of interest to acquire mineral rights				55.00%

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Asset retirement obligation	$ 188,228	$ 205,201	$ 216,000	$ 145,029
Restricted cash	$ 296,322	$ 246,322	$ 221,322

CAPITAL STOCK (Narrative) (Deta

CAPITAL STOCK (Narrative) (Details)	1 Months Ended		12 Months Ended
	Aug. 31, 2018USD ($)	Jul. 30, 2011	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2017CAD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / shares	Dec. 31, 2018$ / shares	Aug. 31, 2018$ / shares	Aug. 25, 2018USD ($)	Aug. 31, 2017USD ($)	Aug. 25, 2017USD ($)	May 25, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0	162,000	162,000	408,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | (per share)			$ 0	$ 0.12	$ 0.15	$ 0.12	$ 0.15
Proceeds from exercise of options				$ 18,560	$ 24,300	$ 48,756
Units Issued During Period, Units						2,500,000
Units Issued During Period, Per Unit Amount | $ / shares							0.40
Proceeds from Units Issued | $						$ 693,728
Class of Warrant or Right, Grants in Period, Net of Forfeitures			0	0	0	1,397,000
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price | $ / shares							$ 0.65
Class of Warrant or Right, Grants in Period, Contractual Term						15 months
Repurchase of shares (shares)			1,536,500	554,000	554,000	396,000
Repurchase of shares | $			$ 290,985	$ 100,239		$ 69,774
Stock option plan, rolling percentage		10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $			$ 280,232	$ 22,041		$ 57,059	$ 57,059
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term			5 years	6 years	6 years	5 years 7 months 6 days
Stock-based compensation | $			$ 33,437	$ 103,001		$ 104,519
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures			0	965,000	965,000	525,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares			$ 0	$ 0.24		$ 0.36
Warrant liability | $			$ 115,793	$ 1,000		$ 1,000	$ 1,000			$ 11,147		$ 17,112	$ 70,712
Class of Warrant or Rights Outstanding, Strike Price | $											$ 0.50
Exercise Price | $ / shares								$ 0.50	$ 0.50
Expenses related to extension of the warrants | $	$ 11,147
Finders warrants [Member]
Class of Warrant or Right, Grants in Period, Net of Forfeitures						147,000
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price | $ / shares							$ 0.65
Class of Warrant or Right, Grants in Period, Contractual Term						15 months
Options granted to insiders [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				610,000	610,000	400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | (per share)				$ 0.24	$ 0.30	$ 0.31	0.40
Options granted to non-insiders [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				80,000	80,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | (per share)				$ 0.24	$ 0.30
Options granted to consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				125,000	125,000	125,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | (per share)				$ 0.21	$ 0.27	$ 0.50	$ 0.65
Options granted to consultants 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				150,000	150,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | (per share)				$ 0.24	$ 0.30
Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term		10 years

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares
Related Party Transaction, Amounts of Transaction	$ 850,028	$ 610,821		$ 539,706
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares	0	965,000		525,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0	$ 0.24		$ 0.36
A private company of which a related party is a 50% shareholder and director [Member]
Related Party Transaction, Amounts of Transaction	$ 548,585	$ 318,456		$ 256,319
Related Party Transaction, Amounts of Transaction which the related party is entitled to receive	274,292	159,228		127,348
Due to Related Parties	53,632	47,924	$ 47,924	47,792
Due to Related Parties for expenses earned for work on behalf of the Company	$ 3,800	5,000	$ 5,000	5,000
Insiders [Member]
Related Party Transaction, Amounts of Transaction		$ 75,502
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares		610,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | (per share)		$ 0.24	$ 0.30
An Officer [Member]
Related Party Transaction, Amounts of Transaction				$ 89,643
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares				400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Strike Price				$ 0.31
Directors [Member]
Related Party Transaction, Amounts of Transaction					$ 18,175
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares					250,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Strike Price					$ 0.15

CONTINGENCY AND COMMITMENTS (Na

CONTINGENCY AND COMMITMENTS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2011	Dec. 31, 2010
Loss Contingency, Period of Occurrence	In late 2009, the Government of Ghana announced an increase in the gross overriding royalty ("GOR") required payable by all mining companies in the country from 3% to 5%. The industry standard remained at 3% due to stability agreements which were in place with a number of companies. From the commencement of gold recovery in July 2010 to September 2010, the Company paid the GOR at 5% and as of October 2010, the Company began to pay the GOR at 3% until July 1, 2011 when the Company again paid the royalty at 5%.
Loss Contingency, Estimate of Possible Loss		$ 120,000	$ 84,300
Banso permit [Member]
Environmental bond	$ 385,000
Muoso permit [Member]
Environmental bond	$ 327,000

SUBSEQUENT EVENT NOTE (Narrativ

SUBSEQUENT EVENT NOTE (Narrative) (Details) - shares	1 Months Ended	12 Months Ended
	Feb. 13, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Repurchased and Retired During Period, Shares		1,536,500	554,000	396,000
Subsequent Event [Member]
Stock Repurchased During Period, Shares	4,000,000

Schedule of Equipment, Declinin

Schedule of Equipment, Declining Method Annual Rates (Details)	12 Months Ended
	Dec. 31, 2018
Furniture and equipment [Member]
Equipment, amortization rate	20.00%
Computer equipment [Member]
Equipment, amortization rate	30.00%
Vehicles [Member]
Equipment, amortization rate	30.00%
Mining and exploration equipment [Member]
Equipment, amortization rate	20.00%

Schedule of Fair Value of Finan

Schedule of Fair Value of Financial Assets And Liabilities (Details) - USD ($)	Dec. 31, 2018	Aug. 25, 2018	Dec. 31, 2017	Aug. 25, 2017	Dec. 31, 2016	May 25, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 2,564,125		$ 1,364,652		$ 913,562		$ 1,083,874
Restricted cash	296,322		246,322		221,322
Investment in trading securities	471,723		270,309		248,592
Warrant liability	(115,793)	$ (11,147)	(1,000)	$ (17,112)	(1,000)	$ (70,712)
Fair value of financial assets and liabilities	3,216,377		1,880,283		1,382,476
Quoted Prices in Active Markets (Level 1) [Member]
Cash and cash equivalents	2,564,125		1,364,652		913,562
Restricted cash	296,322		246,322		221,322
Investment in trading securities	471,723		270,309		248,592
Warrant liability	0		0		0
Fair value of financial assets and liabilities	3,332,170		1,881,283		1,383,476
Significant Other Observable Inputs (Level 2) [Member]
Cash and cash equivalents	0		0		0
Restricted cash	0		0		0
Investment in trading securities	0		0		0
Warrant liability	0		0		0
Fair value of financial assets and liabilities	0		0		0
Significant Unobservable Inputs (Level 3) [Member]
Cash and cash equivalents	0		0		0
Restricted cash	0		0		0
Investment in trading securities	0		0		0
Warrant liability	(115,793)		(1,000)		(1,000)
Fair value of financial assets and liabilities	$ (115,793)		$ (1,000)		$ (1,000)

Schedule of Investments (Detail

Schedule of Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments in trading securities at cost	$ 795,765	$ 530,829	$ 511,672
Unrealized losses	(324,042)	(260,520)	(263,080)
Investments in trading securities at fair market value	$ 471,723	$ 270,309	$ 248,592

Schedule of Equipment (Details)

Schedule of Equipment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cost	$ 2,215,403	$ 2,126,417	$ 1,827,099
Accumulated Amortization	1,714,526	1,604,854	1,479,897
Net Book Value	500,877	521,563	347,202
Furniture and equipment [Member]
Cost	0	8,358	8,358
Accumulated Amortization	0	8,358	8,358
Net Book Value	0	0	0
Computer equipment [Member]
Cost	0	20,274	20,274
Accumulated Amortization	0	20,274	20,274
Net Book Value	0	0	0
Exploration equipment [Member]
Cost	1,758,619	1,738,849	1,464,478
Accumulated Amortization	1,366,087	1,255,906	1,144,382
Net Book Value	392,532	482,943	320,096
Vehicles [Member]
Cost	456,784	358,936	333,989
Accumulated Amortization	348,439	320,316	306,883
Net Book Value	$ 108,345	$ 38,620	$ 27,106

Schedule of Mineral Properties

Schedule of Mineral Properties Acquired (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Acquisition costs	$ 1,607,729	$ 1,607,729	$ 1,607,729
Asset retirement obligation	8,133	8,133	8,133
Option payments received	(881,440)	(881,440)	(881,440)
Total	$ 734,422	$ 734,422	$ 734,422

Schedule of Asset Retirement Ob

Schedule of Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Asset retirement obligation, beginning of year	$ 205,201	$ 216,000	$ 145,029
Change in obligation	(16,973)	(10,799)	70,971
Accretion expense	0	0	0
Asset retirement obligation, end of year	$ 188,228	$ 205,201	$ 216,000

Schedule of Stock Options Ousta

Schedule of Stock Options Oustanding (Details)	12 Months Ended
	Dec. 31, 2018$ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares
Number of Options | shares	2,615,000	2,615,000	2,615,000	1,920,000	2,235,000
Exercise Price | $ / shares	$ 0.23		$ 0.23	$ 0.23	$ 0.16
Options Outstanding 1 [Member]
Number of Options | shares	54,000	54,000
Exercise Price | $ / shares		$ 0.50
Expiry Date	Jun. 1, 2020
Options Outstanding 2 [Member]
Number of Options | shares	63,000	63,000
Exercise Price | $ / shares		$ 0.15
Expiry Date	Jun. 1, 2020
Options Outstanding 3 [Member]
Number of Options | shares	48,000	48,000
Exercise Price | $ / shares		$ 0.225
Expiry Date	Jun. 1, 2020
Options Outstanding 4 [Member]
Number of Options | shares	90,000	90,000
Exercise Price | $ / shares		$ 0.50
Expiry Date	Jul. 1, 2020
Options Outstanding 5 [Member]
Number of Options | shares	150,000	150,000
Exercise Price | $ / shares		$ 0.30
Expiry Date	Nov. 1, 2020
Options Outstanding 6 [Member]
Number of Options | shares	30,000	30,000
Exercise Price | $ / shares		$ 0.50
Expiry Date	Mar. 1, 2021
Options Outstanding 7 [Member]
Number of Options | shares	100,000	100,000
Exercise Price | $ / shares		$ 0.225
Expiry Date	Mar. 1, 2021
Options Outstanding 8 [Member]
Number of Options | shares	108,000	108,000
Exercise Price | $ / shares		$ 0.15
Expiry Date	Jun. 10, 2021
Options Outstanding 9 [Member]
Number of Options | shares	125,000	125,000
Exercise Price | $ / shares		$ 0.65
Expiry Date	Jul. 25, 2021
Options Outstanding 10 [Member]
Number of Options | shares	125,000	125,000
Exercise Price | $ / shares		$ 0.27
Expiry Date	Jul. 1, 2022
Options Outstanding 11 [Member]
Number of Options | shares	382,000	382,000
Exercise Price | $ / shares		$ 0.15
Expiry Date	Dec. 31, 2022
Options Outstanding 12 [Member]
Number of Options | shares	690,000	690,000
Exercise Price | $ / shares		$ 0.30
Expiry Date	Jul. 1, 2023
Options Outstanding 13 [Member]
Number of Options | shares	250,000	250,000
Exercise Price | $ / shares		$ 0.20
Expiry Date	Oct. 8, 2025
Options Outstanding 14 [Member]
Number of Options | shares	400,000	400,000
Exercise Price | $ / shares		$ 0.40
Expiry Date	May 5, 2026

Schedule of Share-based Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details)	12 Months Ended
	Dec. 31, 2018$ / sharesshares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2017$ / shares$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2016$ / shares$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period	2,615,000	1,920,000	1,920,000	2,235,000	2,235,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ / shares	$ 0.23	$ 0.23		$ 0.16
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0	965,000	965,000	525,000	525,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0	$ 0.24		$ 0.36
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	(162,000)	(162,000)	(408,000)	(408,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | (per share)	$ 0	$ 0.12	$ 0.15	$ 0.12	$ 0.15
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	0	(108,000)	(108,000)	(432,000)	(432,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ / shares	$ 0	$ 0.36		$ 0.16
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period	2,615,000	2,615,000	2,615,000	1,920,000	1,920,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ / shares	$ 0.23	$ 0.23		$ 0.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,615,500	2,505,500	2,505,500	1,920,000	1,920,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 0.23	$ 0.23	$ 0.23	$ 0.23	$ 0.23

Schedule of Share-based Compe_2

Schedule of Share-based Compensation, Stock Options Black-Scholes Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Risk-free interest rate	1.75%	1.75%	1.52%
Annualized volatility	73.00%
Dividend rate	0.00%	0.00%	0.00%
Minimum [Member]
Expected life	1 year 9 months 18 days	2 years	2 years
Annualized volatility		61.00%	61.00%
Maximum [Member]
Expected life	2 years 7 months 6 days	7 years 6 months	7 years 6 months
Annualized volatility		68.00%	68.00%

Schedule of Stockholders' Equit

Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Aug. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of Warrants	1,250,000		1,250,000	1,397,000	0
Exercise Price	$ 0.50	$ 0.50
Expiry Date	Feb. 25, 2020

Schedule of Stockholders' Equ_2

Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Warrant or Right, Outstanding, Beginning of Period	1,250,000	1,397,000	0
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period	$ 0.50	$ 0.65
Class of Warrant or Right, Grants in Period, Net of Forfeitures	0	0	1,397,000
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price			$ 0.65
Class of Warrant or Right, Exercises in Period	0	0	0
Class of Warrant or Right, Expirations in Period	0	(147,000)	0
Class of Warrant or Right, Expirations in Period, Weighted Average Exercise Price		$ 0.65
Class of Warrant or Right, Outstanding, End of Period	1,250,000	1,250,000	1,397,000
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period	$ 0.50	$ 0.50	$ 0.65

Schedule of Related Party Trans

Schedule of Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Consulting fees paid or accrued to officers or their companies	$ 850,028	$ 610,821	$ 539,706
Director's fees	$ 2,316	$ 2,310	$ 2,267
Stock option grants to officers and directors	0	610,000	400,000
Stock option grant price range	$ 0	$ 0.24	$ 0.31

Schedule of Cash Flow, Suppleme

Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash paid during the period for Interest	$ 0	$ 1,008	$ 14,540
Cash paid during the period for Income taxes	$ 0	$ 0	$ 0

Schedule of Segmented Informati

Schedule of Segmented Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash and restricted cash	$ 2,860,447	$ 1,610,974	$ 1,134,884	$ 1,083,874
Capital assets	1,235,299	1,255,985	1,081,624
Total	4,095,746	2,866,959	2,216,508
Net (loss) profit	1,306,183	355,855	(480,884)
Canada [Member]
Capital assets	0	0	0
Net (loss) profit	(791,818)	(526,836)	(599,442)
Ghana [Member]
Capital assets	1,235,299	1,255,985	1,081,624
Net (loss) profit	$ 2,098,001	$ 882,691	$ 118,558