Xtra-Gold Resources (XTGRF) 20-F 25 Apr 24 2023 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Entity Registrant Name	XTRA-GOLD RESOURCES CORP
Entity Central Index Key	0001288770
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Entity File Number	333-183376
Entity Incorporation, State or Country Code	D8
Entity Address, Address Line One	Monte Carlo #7
Entity Address, Address Line Two	Paradise Island
Entity Address, City or Town	Nassau
Entity Address, Country	BS
Entity Address, Postal Zip Code	00000
Title of 12(b) Security	Common shares
Entity Common Stock, Shares Outstanding	46,201,217
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Auditor Name	Reliant CPA PC
Auditor Location	Newport Beach, CA
Auditor Firm ID	6906
Document Financial Statement Error Correction [Flag]	false
Business Contact [Member]
Contact Personnel Name	James Longshore
Entity Address, Address Line One	Shirley Street Plaza
Entity Address, Address Line Two	Suite 2150
Entity Address, City or Town	Nassau
Entity Address, Country	BS
Entity Address, Postal Zip Code	59217
City Area Code	242
Local Phone Number	363-3864

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current
Cash and cash equivalents	$ 7,154,462	$ 5,781,000
Investment in trading securities	2,212,401	3,497,166
Prepaids	102,185	104,791
Inventory	817,597	795,939
Total current assets	10,286,645	10,178,896
Restricted cash	296,322	296,322
Equipment, net	543,197	671,373
Mineral properties	734,422	734,422
TOTAL ASSETS	11,860,586	11,881,013
Current
Accounts payable and accrued liabilities	1,281,060	1,125,192
Due to related parties	152,415	181,973
Asset retirement obligation	85,628	99,514
Total current liabilities	1,519,103	1,406,679
Total liabilities	1,519,103	1,406,679
Commitment and contingencies
Equity
Capital stock Authorized - 250,000,000 common shares with a par value of $0.001 Issued and outstanding 46,201,217 common shares (December 31, 2022 - 46,446,917 common shares)	46,201	46,447
Additional paid in capital	31,704,814	31,838,291
Shares in treasury	(20,744)	(6,892)
Accumulated deficit	(21,511,326)	(21,345,398)
Total Xtra-Gold Resources Corp. stockholders' equity	10,218,945	10,532,448
Non-controlling interest	122,538	(58,114)
Total equity	10,341,483	10,474,334
TOTAL LIABILITIES AND EQUITY	$ 11,860,586	$ 11,881,013

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	46,201,217	46,446,917
Common Stock, Shares, Outstanding	46,201,217	46,446,917

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING EXPENSES
Depreciation	$ 165,898	$ 188,356	$ 173,667
Exploration	815,980	981,554	1,610,502
General and administrative	442,552	535,147	377,345
EXPENSES BEFORE OTHER INCOME (EXPENSES)	(1,424,430)	(1,705,057)	(2,161,514)
OTHER INCOME (EXPENSES)
Recovery of gold, net	3,527,354	3,704,167	4,074,170
Foreign exchange loss	(203,212)	(938,422)	(426,420)
Net gain (loss) on trading securities	(58,197)	360,754	714,523
Interest earned and dividends	371,525	143,407	55,972
Impairment loss on trading securities	(1,336,501)	0	(211,018)
OTHER INCOME, NET	2,300,969	3,269,906	4,207,227
Income before tax	876,539	1,564,849	2,045,713
Income tax expense	(861,815)	(800,000)	(1,088,192)
Net income	14,724	764,849	957,521
Net income attributable to non-controlling interest	(180,652)	(133,082)	(121,545)
Net income (loss) attributable to Xtra-Gold Resources Corp.	$ (165,928)	$ 631,767	$ 835,976
Basic income attributable to common shareholders per common share	$ 0	$ 0.01	$ 0.02
Diluted income attributable to common shareholders per common share	$ 0	$ 0.01	$ 0.02
Basic weighted average number of common shares outstanding	46,361,078	46,542,900	46,779,574
Diluted weighted average number of common shares outstanding	46,361,078	48,822,024	48,925,574

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Shares in Treasury [Member]	Accumulated Deficit [Member]	Non-Controlling Interest [Member]	Total
Beginning Balance at Dec. 31, 2020	$ 46,817	$ 31,998,045	$ (4,857)	$ (22,813,141)	$ (312,741)	$ 8,914,123
Beginning Balance (Shares) at Dec. 31, 2020	46,817,017
Stock-based compensation		2,504				2,504
Exercise of stock options	$ 255	94,674				94,929
Exercise of stock options (shares)	255,000
Repurchase of shares	$ (384)	(324,708)	4,857			(320,235)
Repurchase of shares (Shares)	(384,500)
Shares in treasury			(13,294)			(13,294)
Net income				835,976	121,545	957,521
Ending Balance at Dec. 31, 2021	$ 46,688	31,770,515	(13,294)	(21,977,165)	(191,196)	9,635,548
Ending Balance (Shares) at Dec. 31, 2021	46,687,517
Stock-based compensation		237,078				$ 237,078
Exercise of stock options (shares)						0
Repurchase of shares	$ (241)	(169,302)	13,294			$ (156,249)
Repurchase of shares (Shares)	(240,600)
Shares in treasury			(6,892)			(6,892)
Net income				631,767	133,082	764,849
Ending Balance at Dec. 31, 2022	$ 46,447	31,838,291	(6,892)	(21,345,398)	(58,114)	10,474,334
Ending Balance (Shares) at Dec. 31, 2022	46,446,917
Stock-based compensation		23,750				$ 23,750
Exercise of stock options (shares)						0
Repurchase of shares	$ (246)	(150,335)	(20,744)			$ (171,325)
Repurchase of shares (Shares)	(245,700)
Shares in treasury		(6,892)	6,892
Net income				(165,928)	180,652	14,724
Ending Balance at Dec. 31, 2023	$ 46,201	$ 31,704,814	$ (20,744)	$ (21,511,326)	$ 122,538	$ 10,341,483
Ending Balance (Shares) at Dec. 31, 2023	46,201,217

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 14,724	$ 764,849	$ 957,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	165,898	188,356	173,667
Stock-based compensation	23,750	237,078	2,504
Unrealized foreign exchange loss (gain)	121,720	192,352	(65,133)
Net gain (loss) on sales of trading securities	58,197	(360,754)	(689,407)
Impairment loss on trading securities	1,336,501	0	211,018
Changes in operating assets and liabilities:
(Increase) decrease in prepaids	2,606	(1,587)	(2,599)
Decrease (increase) in inventory	(21,658)	179,331	(133,292)
Change in asset retirement obligation	(13,886)	6,171	(47,054)
Increase in accounts payable and accrued liabilities	155,868	186,590	645,082
Increase (decrease) in due to related parties	(29,558)	91,435	102,493
Net cash provided by operating activities	1,814,162	1,483,821	1,154,800
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of trading securities	(2,036,995)	(2,149,341)	(2,537,144)
Proceeds on sale of trading securities	1,805,342	2,193,935	2,053,292
Acquisition of equipment	(37,722)	(259,602)	(203,419)
Net cash used in investing activities	(269,375)	(215,008)	(687,271)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of options and warrants	0	0	94,929
Repurchase of capital stock	(171,325)	(163,141)	(338,386)
Net cash used in financing activities	(171,325)	(163,141)	(243,457)
Change in cash and cash equivalents and restricted cash during the year	1,373,462	1,105,672	224,072
Cash and cash equivalents and restricted cash, beginning of the year	6,077,322	4,971,650	4,747,578
Cash and cash equivalents and restricted cash, end of the year	7,450,784	6,077,322	4,971,650
Reconciliation of Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents at beginning of year	5,781,000	4,675,328	4,451,256
Restricted cash at beginning of year	296,322	296,322	296,322
Cash and cash equivalents and restricted cash, beginning of the year	6,077,322	4,971,650	4,747,578
Cash and cash equivalents at end of year	7,154,462	5,781,000	4,675,328
Restricted cash at end of year	296,322	296,322	296,322
Cash and cash equivalents and restricted cash, end of the year	$ 7,450,784	$ 6,077,322	$ 4,971,650

HISTORY AND ORGANIZATION OF THE

HISTORY AND ORGANIZATION OF THE COMPANY	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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. The Company has also engaged in recovery of gold through alluvial operations on its claims. 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").

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2023
Going Concern [Abstract]
GOING CONCERN [Text Block]	2. GOING CONCERN The Company is in development as an exploration company. It may need financing for its exploration and acquisition activities. The Company has incurred a loss of $165,928 for the year ended December 31, 2023, and it has an accumulated deficit of $21,511,326. Results for the year ended December 31, 2023 are not necessarily indicative of future results. The uncertainty of gold recovery and the fact the Company does not have a demonstrably viable business to provide future funds, raises 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 related to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company ("Management") is of the opinion that sufficient financing will be obtained from external sources and further share issuances will be made to meet the Company's obligations. Although alluvial gold sales have contributed significantly to the Company, this funding source is nearly depleted and cannot be relied on as a source of future funding. 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, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES [Text Block]	3. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation 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 and its 90% owned subsidiary, XG Mining . 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, the valuation allowance applied to level 3 investments, 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, 2023 and 2022, 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. Prepaids Prepaid amounts are recognized in an earlier period than they are expensed. These amounts are expensed in the period to which they relate. 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 recovered from alluvial operations. 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. Recovery of gold, net of expenses, is not related to exploration and is not the core business of the Company, so proceeds from gold recovery are recognized as other income. 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. 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 depreciated over its estimated useful lives, which recognizes operating conditions in Ghana, using the declining balance method at the following annual rates: Furniture and equipment Computer equipment Vehicles Mining and exploration equipment 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. The mineral properties do not fall under the guidance of ASC 842. Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the undiscounted future cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. No impairment charge was deemed necessary for mineral properties in 2023 or 2022. 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 estimated rehabilitation 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. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the changes in the estimated future cash flows underlying the obligation (asset retirement cost). Stock-based compensation The Company accounts for stock compensation arrangements under ASC 718 " Compensation - Stock Compensation An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee, including directors of the Company. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of the goods and services received. We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant (measurement date) and is recognized over the vesting periods. Warrants The Company accounts for freestanding warrants within stockholder's equity or as liabilities based on the characteristics and provisions of each instrument. The Company evaluates outstanding warrants in accordance with ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. If none of the criteria in the evaluation in these standards are met, the warrants are classified as a component of stockholders' equity and initially recorded at their grant date fair value without subsequent remeasurement. Warrants that meet the criteria are classified as liabilities and remeasured to their fair value at the end of each reporting period. Share repurchases The Company accounts for the repurchase of its common shares as an increase in shares in treasury for the market value of the shares at the time of purchase. When the shares are cancelled, the issued and outstanding shares are reduced by the $0.001 par value and the difference is accounted for as a reduction in additional paid in capital. 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 and diluted earnings or loss per share ("EPS") amounts in the consolidated financial statements are computed in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 260 - 10 " Earnings per Share 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 carrying amounts of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities approximate their fair value due to the short-term nature of those financial instruments. 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 Our financial assets and liabilities that are measured at fair value on a recurring basis include cash equivalents, marketable securities, derivative contracts, and marketable debt securities. Our financial assets measured at fair value on a nonrecurring basis include non-marketable equity securities, which are adjusted to fair value when observable price changes are identified or when the non-marketable equity securities are impaired (referred to as the measurement alternative). Other financial assets and liabilities are carried at cost with fair value disclosed, if required. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on the observability of the inputs available in the market used to measure fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, foreign exchange rates, and credit ratings. Level 3 - Unobservable input s that are supported by little or no market data, which require the Company to develop its own assumptions. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Cash, Cash Equivalents, and Marketable Securities We invest all excess cash primarily in time deposits, money market funds, corporate debt securities, equities, limited partnerships, and rights and warrants. We classify all marketable debt securities that have stated maturities of three months or less from the date of purchase as cash equivalents and those with stated maturities of greater than three months as marketable securities on our Consolidated Balance Sheets. We determine the appropriate classification of our investments in marketable debt securities at the time of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable debt securities as trading securities. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. For all of our marketable debt securities we have elected the fair value option, for which changes in fair value are recorded in . We determine any realized gains or losses on the sale of marketable debt securities on a specific identification method, and we record such gains and losses as a component of other income (expense), net. The following tables summarize our investment in debt instruments, at their fair value, by significant investment categories as of December 31, 2023 and 2022: Level 1 - Cash equivalents December 31, 2023 December 31, 2022 Money market funds $ 6,738,412 $ 5,559,705 $ 6,738,412 $ 5,559,705 Cash, cash equivalents, and investments December 31, 2023 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 7,154,462 $ 7,124,364 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 2,212,401 2,212,401 - - Total $ 9,663,185 $ 9,633,087 $ - $ - December 31, 2022 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 5,781,000 $ 5,781,000 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 3,497,166 3,497,166 - - Total $ 9,574,488 $ 9,574,488 $ - $ - The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources. Investment in Debt Securities We classify our marketable debt securities, which are accounted for as trading securities, within Level 1 or 2 in the fair value hierarchy because we use quoted market prices to the extent available or alternative pricing sources and models utilizing market observable inputs to determine fair value. Investment in trading securities The following discusses our marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities accounted for under the equity method. Our marketable equity securities are publicly traded stocks or funds measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because we use quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. Our non-marketable equity securities are investments in privately held companies without readily determinable market values. The carrying value of our non-marketable equity securities is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative). Non-marketable equity securities that have been remeasured during the period based on observable transactions are classified within Level 2 or Level 3 in the fair value hierarchy because we estimate the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold. The fair value of non-marketable equity securities that have been remeasured due to impairment are classified within Level 3. 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. The Company held $6,738,412 and $5,653,644 as of December 31, 2023 and 2022, respectively, in low-risk cash and 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. The Company sells its raw gold to one smelter. Ownership of the gold is transferred to the smelting company at the mine site. Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. This ASU is currently not expected to have a material impact on our consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, ASC Subtopic "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

PREPAIDS

PREPAIDS	12 Months Ended
	Dec. 31, 2023
Prepaid Expense, Current [Abstract]
PREPAIDS [Text Block]	4. PREPAIDS Prepaids consist of the following amounts: December 31, 2023 December 31, 2022 Prepaid insurance $ 17,581 $ 25,536 Prepaid permit fees 12,515 - Legal advances 55,690 73,265 Other 16,399 5,990 $ 102,185 $ 104,791

INVESTMENTS IN TRADING SECURITI

INVESTMENTS IN TRADING SECURITIES	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN TRADING SECURITIES [Text Block]	5. INVESTMENTS IN TRADING SECURITIES At December 31, 2023, the Company held investments classified as trading securities, which consisted of various equity securities. All trading securities are carried at fair value. All marketable securities are publicly traded and valued using Level 1 methods. As of December 31, 2023 and 2022 respectively, the fair value of trading securities was $2,212,401 and $3,497,166. The Company recognized a full impairment of certain investments, of $1,336,501 in 2023. During 2021 the company recognized a $211,018 impairment on certain investments. December 31, 2023 December 31, 2022 Investments in trading securities at cost $ 3,501,195 $ 3,239,782 Unrealized gains (losses) (1,288,794 ) 257,384 Investments in trading securities at fair market value $ 2,212,401 $ 3,497,166 The fair value carrying value of investments by category is as follows: December 31, 2023 December 31, 2022 Marketable Equity Securities - Level 1 Publicly traded investments $ 2,212,401 $ 2,677,169 Marketable Debt Securities - Level 2 Corporate bonds - 117,157 Non-Marketable Equity Securities - Level 3 Private investments - 702,840 Total investments $ 2,212,401 $ 3,497,166 The gains and losses on investments by category is as follows: December 31, 2023 December 31, 2022 December 31, 2021 Marketable Equity Securities - Level 1 Publicly traded investments - realized $ 95,688 $ 354,811 $ 559,850 Publicly traded investments - unrealized (480,827 ) (148,456 ) 227,653 Non-Marketable Debt Securities - Level 2 Private bonds (194,255 ) (20,980 ) 11,720 Non-Marketable Equity Securities - Level 3 Private investments - realized - - (275,719 ) Private investments - unrealized (815,304 ) 175,376 - Total investments $ (1,394,698 ) $ 360,754 $ 523,504 Reported as: December 31, 2023 December 31, 2022 December 31, 2021 Net gain (loss) on trading securities $ (58,197 ) $ 360,754 $ 714,523 Impairment loss on trading securities (1,336,501 ) - (211,018 ) Other - - 19,999 Total gain (loss) on investments $ (1,394,698 ) $ 360,754 $ 523,504 The Company also recorded interest and dividend income from its investment portfolio as follows: December 31, 2023 December 31, 2022 December 31, 2021 Interest earned and dividends $ 371,525 $ 143,407 $ 55,972

EQUIPMENT

EQUIPMENT	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
EQUIPMENT [Text Block]	6. EQUIPMENT December 31, 2023 Cost Accumulated Net Book Value Exploration equipment $ 2,282,277 $ 1,909,186 $ 373,091 Vehicles 800,628 630,522 170,106 $ 3,082,905 $ 2,539,708 $ 543,197 The company expensed $165,898 for depreciation in 2023. December 31, 2022 Cost Accumulated Net Book Value Exploration equipment $ 2,282,277 $ 1,802,719 $ 479,558 Vehicles 762,906 571,091 191,815 $ 3,045,183 $ 2,373,810 $ 671,373 The company expensed $188,356 for depreciation in 2022. The company expensed $173,667 for depreciation in 2021.

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Dec. 31, 2023
Mineral Industries Disclosures [Abstract]
MINERAL PROPERTIES [Text Block]	7. MINERAL PROPERTIES The Kibi, Kwabeng and Pameng Projects were purchased as a group in 2004, and the purchase price was not allocated between the properties and camp facilities. As historical option payments received for the right to purchase projects from the Company in previous years have expired unexercised there are no third-party claims against the Projects. The Mineral Properties have a value of $734,422 as at December 31, 2023 and 2022. There was no impairment in the carrying value of the properties in the years ended December 31, 2023 and 2022. Kibi, Kwabeng and Pameng Projects The Company holds the mineral rights over the lease area for Kibi , Kwabeng, and Pameng Projects, all of which are located in Ghana. The original Kwabeng and Pameng mining leases had an expired date of July 26, 2019, while the Apapam (the "Kibi") lease had an expiry date of December 17, 2015. Under the mineral laws, the Company has the right to apply for extensions of mining leases for up to a maximum of 30 years. The Company has applied for extensions on all three of its leases noted above for a further 15 years. The Kwabeng and Pameng extensions were filed on December 13, 2018, and the Kibi lease extension on June 17, 2015. To date, the Company has not received the extension documents from the government. Under mineral law, the old leases remain fully in force until the government issues the new lease documents. The renewal extension is in accordance with the terms of application and payment of fees to the Minerals Commission. All gold production will be subject to a 5% 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. On January 6, 2011, the Government of Ghana granted two mining leases for these Projects. These mining leases grant the Company mining rights to produce gold in the respective leased 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) ii) iii) iv) No project acquisition costs were recorded for the acquisition of Banso and Muoso Projects. In June 2023 the Company applied for an extension of the Muoso Project. The Banso lease expires on January 5, 2025 and the Company expects to apply for an extension of the Banso lease at that time. 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) (ii) (b) to the Environmental Protection Agency ("EPA") (of Ghana) for: i) ii) iii) (c) for a legal obligation associated with our mineral properties for clean up costs when work programs are completed.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES [Text Block]	8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Trade payables and accrued liabilities are comprised as follows: December 31, 2023 December 31, 2022 Trade payables $ 2,137 $ 67,584 Accrued royalties and taxes 1,230,012 1,018,737 Accrued other liabilities 48,911 38,871 $ 1,281,060 $ 1,125,192 The following table shows the aging of the Company's trade payables: December 31, 2023 December 31, 2022 Current $ 2,137 $ 67,584 >60 days - - $ 2,137 $ 67,584

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation [Abstract]
ASSET RETIREMENT OBLIGATION [Text Block]	9. ASSET RETIREMENT OBLIGATION December 31, December 31, 2022 Balance, beginning of year $ 99,514 $ 93,343 Change in obligation (13,886 ) 6,171 Accretion expense - - Balance, end of year $ 85,628 $ 99,514 The Company has a legal obligation associated with its mineral properties for clean up costs when work programs are completed. Most of the cash will be spent to return the grade of disturbed land to its original state and to plant vegetation. The rehabilitation obligation is estimated at $85,628 and $99,514 at December 31, 2023 and 2022, respectively. During 2023 and 2022, 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 $296,322 which has been recorded in restricted cash.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
CAPITAL STOCK [Text Block]	10. CAPITAL STOCK Authorized stock The Company's authorized shares are 250,000,000 common shares with a par value of $0.001 per share. Issuances of shares The Company did not issue shares during the years ended December 31, 2023 and 2022. Cancellation of shares During the year ended December 31, 2023, a total of 234,200 common shares were re-purchased for $150,582 and were cancelled. A further total of 11,500 common shares that were re-purchased in 2022 for $6,892 were cancelled in 2023. A total of 28,500 common shares were re-purchased in 2023 for $20,744 and held in treasury. These 28,500 shares were cancelled in January 2024. During the year ended December 31, 2022, a total of 223,000 common shares were re-purchased for $156,249 and cancelled. A further total of 17,600 common shares were re-purchased in 2021 for $13,294 were cancelled in 2022. A total of 11,500 common shares were re-purchased for $6,892 and held in treasury. These 11,500 shares were cancelled in January 2023. 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 20 years. At December 31, 2023, the following stock options were outstanding: Number of Options Exercise Price Expiry Date 382,000 CDN$0.15 December 31, 2032 54,000 CDN$0.60 June 1, 2040 250,000 CDN$0.20 October 8, 2035 360,000 CDN$1.23 October 23, 2040 400,000 CDN$0.40 May 5, 2036 690,000 CDN$0.30 July 1, 2037 450,000 CDN$0.81 December 14, 2042 62,500 CDN$0.92 April 27, 2043 Stock option transactions and the number of stock options outstanding are summarized as follows: December 31, 2023 December 31, 2022 Number of Options Weighted Exercise Price Number of Options Weighted Exercise Price Outstanding, beginning of year 2,586,000 CAD $ 0.37 2,381,000 CAD $ 0.36 Granted 62,500 CAD 0.92 450,000 CAD 0.81 Exercised - - - - Cancelled/Expired - - (245,000) CAD 0.69 Outstanding, end of year 2,648,500 CAD $ 0.39 2,586,000 CAD $ 0.37 Exercisable, end of year 2,648,500 CAD $ 0.39 2,586,000 CAD $ 0.37 The aggregate intrinsic value for options vested and for total options as of December 31, 2023 and 2022 respectively, is approximately $1,115,000 and $786,600. The weighted average contractual term of stock options outstanding and exercisable as at December 31, 2023 and 2022 respectively, is 10.7 years and 11.7 years. The fair value of stock options granted, vested, and modified during the years ended December 31, 2023, 2022 and 2021 respectively, was $23,750, $237,078, and $2,504 which has been included in general and administrative expense. The following assumptions were used for the Black-Scholes valuation of stock options granted or amended during the years ended December 31, 2023, 2022, and 2021: 2023 2022 2021 Risk-free interest rate 3.00% 1.75% 1.75% Expected life 5.0 years 5.0 years 3.0 years Annualized volatility 64% 68% 70% Dividend rate - - - On April 27, 2023 the Company granted 62,500 options to insiders at $0.68 (CAD$0.92) and recognized an expense of $23,750 as the options vested immediately. On December 14, 2022 the Company granted 350,000 options to insiders at $0.60 (CAD$0.81) and recognized an expense of $120,563. A further 100,000 options were granted to non-insiders at $0.60 (CAD$0.81) and an expense of $34,447 was recognized. On July 1, 2022, the original terms of existing options were extended. The Company recognized an expense of $77,092 related to the extension of the option terms to maturity. Options granted to consultants were market-to-market until expiry and the Company recognized an expense in 2022 of $4,976. The Company did not issue stock options during the years ended December 31, 2021. Warrants At December 31, 2023 and 2022, there were no warrants outstanding.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS [Text Block]	11. RELATED PARTY TRANSACTIONS During the years ended December 31, 2023, 2022 and 2021, the Company entered into the following transactions with related parties: December 31, 2023 December 31, 2022 December 31, 2021 Consulting fees paid or accrued to officers or their companies $ 1,035,063 $ 909,314 $ 1,124,304 Directors' fees 2,223 2,308 2,398 Stock option grants to officers and directors $ 23,750 $ 120,563 Stock option grant price range CAD$0.92 CAD$0.81 Of the total consulting fees noted above, $720,442, $691,435, and $772,494 for the years ended December 31, 2023, 2022, and 2021 respectively, 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 $360,221 and $345,717, and $386,247 of this amount for the years ended December 31, 2023, 2022, and 2021, respectively. As at December 31, 2023 and 2022 respectively, a balance of $152,415 and a prepaid balance of $181,973 exists to this related company and $Nil remains payable in all years to the related party for expenses earned for work on behalf of the Company. The CEO of the company made a $50,000 payment on behalf of the company in 2021. This balance was repaid in 2022. During 2023, the Company granted 62,500 options to insiders at a price of $0.68 (CAD$0.92). A total of $23,750 was included in consulting fees related to these options. During 2022, the Company granted 350,000 options to insiders at a price of $0.60 (CAD$0.81). A total of $120,563 was included in consulting fees related to these options. On July 1, 2022, the original terms of existing options were extended. The Company recognized an expense of $77,092 related to the extension of the option terms to maturity related to insiders. During 2021 the Company did not grant stock options to insiders.

SUPPLEMENTAL DISCLOSURE WITH RE

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS [Text Block]	12. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS December 31, 2023 December 31, 2022 December 31, 2021 Cash paid during the period for: Interest $ - $ - $ - Income taxes $ 650,540 $ 581,263 $ 288,192 During the years ended December 31, 2023, 2022 and 2021 respectively, the Company paid $650,540, $581,263, and $288,192 related to income tax in the current and prior periods and accrued a further $700,000, $800,000, and $720,000 in the years ended December 31, 2023, 2022, and 2021 respectively, for expected income tax payments related to activities in Ghana. There were no other significant non-cash transactions during the years ended December 31, 2023, 2022, or 2021.

DEFERRED INCOME TAXES

DEFERRED INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Deferred Income Taxes and Other Assets [Abstract]
DEFERRED INCOME TAXES [Text Block]	13. DEFERRED INCOME TAXES On November 30, 2012, the Company changed its residency address from the USA to the British Virgin Islands("BVI"). 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. The Company is not subject to any corporate income tax in the BVI. In Ghana, the Company is subject to a 35% income tax rate. 2023 2022 2021 Pre tax income $ 876,539 $ 1,564,849 $ 2,045,713 Tax at the BVI rate 0% - - - Tax in Ghana at 35% 933,918 745,787 806,761 Other 12,082 (6,043 ) - Temporary differences (84,185 ) 60,256 281,431 Income tax $ 861,815 $ 800,000 $ 1,088,192 In evaluating the ability to recover the deferred tax assets within the jurisdiction from which they arise, the Company considered all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, the Company began with historical results adjusted for changes in accounting policies and incorporates assumptions including the amount of future pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimate the Company are using to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considers three years of cumulative operating income. A reconciliation of the Ghana income tax to our effective income tax is as follows: 2023 2022 2021 Tax in Ghana at 35% $ 933,918 $ 745,787 $ 806,761 Accrual for tax - current year 800,000 800,000 800,000 133,918 (54,213 ) 6,671 Unaccrued tax payments related to previous years (61,815 ) - - Differences, current year 72,103 (54,213 ) 6,671 Cumulative differences, prior year (47,452 ) 6,671 - Cumulative differences, current year 24,651 (47,452 ) 6,671 Valuation allowance (24,651 ) 47,452 (6,671 ) Total deferred income tax asset (liability) $ - $ - $ - The Company recognizes valuation allowances to reduce deferred tax assets and liabilities to the amount that is more likely than not to be realized. The Company's net deferred income tax asset is not more likely than not to be realized due to the lack of sufficient sources of future taxable income and cumulative losses that have resulted over the years. During the year ended December 31, 2023 the valuation allowance was reduced by $72,103 to $24,651.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES [Text Block]	14. COMMITMENTS AND CONTINGENCIES a) The Company has been required by the Ghanaian government to post an environmental bond of US$296,322 which has been recorded in restricted cash (see Note 9). b) From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm the Company's business. The Company is not aware of any such legal proceedings other than disclosed below that will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results. The Company is a party to two pending lawsuits. One lawsuit claims additional funds of GHC90,000 (approximately US$9,000) from local government for an annual business operating permit. Another lawsuit claims that workers were terminated unlawfully. The Company will defend itself in each of these lawsuits if required, and believes both cases are completely without merit and frivolous. The Company is subject to additional legal proceedings and claims which arise in the ordinary course of its business. Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters should not have a material adverse effect on its financial position, results of operations or liquidity. On October 19, 2022, Minerals Commission issued five invoices totaling $11,714,800 to our Ghanaian subsidiary. These invoices were titled "Outstanding Annual Mineral Right Fees" for all five of our concessions (Kwabeng, Pameng, Apapam, Muoso and Banso), which Minerals Commission indicated were related to the period from 2012 to 2022, for new annual mineral fees. However, all of our mining leases all have a one-time fixed consideration fee, which was paid when our leases were granted. Our legal counsel responded to Minerals Commission (the "Letters") on November 15, 2019, objecting to the five improper invoices. Our Letters outline the specific violated terms of our leases and various mineral laws. The Minerals Commission has not responded to our Letters. Should Minerals Commission challenge our Letters, our Company could enter dispute resolution arbitration clause under the Mineral Act. We believe the invoices are not legally enforceable under the Mineral Act, and have not included any amount related to these invoices in our accounts. Ghana Revenue Agency ("GRA") sent our Ghanaian subsidiary an updated tax assessment letter on May 11, 2023. The letter alleges a total tax liability of $1,186,701 (the "Assessment"), from 2012 to 2022. Upon a thorough review of the Assessment, we agreed that the only additional liability in the Assessment was $356,281. The balance of the Assessment was objected to by our company in letter dated June 13, 2023, (the "Objection Letter"). To date, GRA has not responded to our Objection Letter, and our company believes it has settled all amounts owing in the Assessment. (c) Credit risk Financial instruments that are potentially subject to credit risk consist principally of trade receivables. The Company believes the concentration of credit risk in its trade receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. (d) The functional currency of the Company is US$, to date the majority of the revenues and costs are denominated in Ghana and a significant portion of the assets and liabilities are denominated in both Canada and Ghana. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$ and Ghana currency. If Ghana depreciates against US$, the value of Ghana revenues and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or other financial instruments that expose to substantial market risk. (e) The Company's operations are conducted in Ghana. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environment in Ghana, and by the general state of the Ghana economy. The Company's operations in the Ghana are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in Ghana, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. f) We are exposed to fluctuations in commodity prices for gold. Commodity prices are affected by many factors, including but not limited to, supply and demand. g) -Apapam Lease expired on December 17 th th -Kwabeng and Pameng Leases expired on July 26 th th -Muoso Lease expired on January 5 th th -Banso Lease does not expire until Jan. 5 th On all the above extensions the company requested a further 15 year extension to each lease, and the old leases are fully in force until the new leases are granted by the government. 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, 2023. As of these extensions generally take years for the regulatory review to be completed, and the Company is not yet in receipt of the renewal extension approval. However, until the Company receives the renewal extension approval, the old lease remains in force under the mineral laws. The renewal extension is in accordance with the terms of application and payment of fees to the Minerals Commission.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS [Text Block]	15. SUBSEQUENT EVENTS From the period subsequent to December 31, 2023 to the date of filing of these financial statements, the following occurred: - - -

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of presentation [Policy Text Block]	Basis of presentation 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 and its 90% owned subsidiary, XG Mining . 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, the valuation allowance applied to level 3 investments, 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, 2023 and 2022, 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.
Prepaid [Policy Text Block]	Prepaids Prepaid amounts are recognized in an earlier period than they are expensed. These amounts are expensed in the period to which they relate.
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 recovered from alluvial operations. 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. Recovery of gold, net of expenses, is not related to exploration and is not the core business of the Company, so proceeds from gold recovery are recognized as other income.
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. 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 depreciated over its estimated useful lives, which recognizes operating conditions in Ghana, using the declining balance method at the following annual rates: Furniture and equipment Computer equipment Vehicles Mining and exploration equipment
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. The mineral properties do not fall under the guidance of ASC 842.
Impairment of long-lived assets [Policy Text Block]	Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the undiscounted future cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. No impairment charge was deemed necessary for mineral properties in 2023 or 2022. 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 estimated rehabilitation 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. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the 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 compensation arrangements under ASC 718 " Compensation - Stock Compensation An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee, including directors of the Company. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of the goods and services received. We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant (measurement date) and is recognized over the vesting periods.
Warrants [Policy Text Block]	Warrants The Company accounts for freestanding warrants within stockholder's equity or as liabilities based on the characteristics and provisions of each instrument. The Company evaluates outstanding warrants in accordance with ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. If none of the criteria in the evaluation in these standards are met, the warrants are classified as a component of stockholders' equity and initially recorded at their grant date fair value without subsequent remeasurement. Warrants that meet the criteria are classified as liabilities and remeasured to their fair value at the end of each reporting period.
Share repurchases [Policy Text Block]	Share repurchases The Company accounts for the repurchase of its common shares as an increase in shares in treasury for the market value of the shares at the time of purchase. When the shares are cancelled, the issued and outstanding shares are reduced by the $0.001 par value and the difference is accounted for as a reduction in additional paid in capital.
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 and diluted earnings or loss per share ("EPS") amounts in the consolidated financial statements are computed in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 260 - 10 " Earnings per Share
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 carrying amounts of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities approximate their fair value due to the short-term nature of those financial instruments. 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 Our financial assets and liabilities that are measured at fair value on a recurring basis include cash equivalents, marketable securities, derivative contracts, and marketable debt securities. Our financial assets measured at fair value on a nonrecurring basis include non-marketable equity securities, which are adjusted to fair value when observable price changes are identified or when the non-marketable equity securities are impaired (referred to as the measurement alternative). Other financial assets and liabilities are carried at cost with fair value disclosed, if required. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on the observability of the inputs available in the market used to measure fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, foreign exchange rates, and credit ratings. Level 3 - Unobservable input s that are supported by little or no market data, which require the Company to develop its own assumptions. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Cash, Cash Equivalents, and Marketable Securities [Policy Text Block]	Cash, Cash Equivalents, and Marketable Securities We invest all excess cash primarily in time deposits, money market funds, corporate debt securities, equities, limited partnerships, and rights and warrants. We classify all marketable debt securities that have stated maturities of three months or less from the date of purchase as cash equivalents and those with stated maturities of greater than three months as marketable securities on our Consolidated Balance Sheets. We determine the appropriate classification of our investments in marketable debt securities at the time of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable debt securities as trading securities. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. For all of our marketable debt securities we have elected the fair value option, for which changes in fair value are recorded in . We determine any realized gains or losses on the sale of marketable debt securities on a specific identification method, and we record such gains and losses as a component of other income (expense), net. The following tables summarize our investment in debt instruments, at their fair value, by significant investment categories as of December 31, 2023 and 2022: Level 1 - Cash equivalents December 31, 2023 December 31, 2022 Money market funds $ 6,738,412 $ 5,559,705 $ 6,738,412 $ 5,559,705 Cash, cash equivalents, and investments December 31, 2023 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 7,154,462 $ 7,124,364 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 2,212,401 2,212,401 - - Total $ 9,663,185 $ 9,633,087 $ - $ - December 31, 2022 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 5,781,000 $ 5,781,000 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 3,497,166 3,497,166 - - Total $ 9,574,488 $ 9,574,488 $ - $ - The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources.
Investment in Debt Securities [ Policy Text Block]	Investment in Debt Securities We classify our marketable debt securities, which are accounted for as trading securities, within Level 1 or 2 in the fair value hierarchy because we use quoted market prices to the extent available or alternative pricing sources and models utilizing market observable inputs to determine fair value.
Investment in trading securities [Policy Text Block]	Investment in trading securities The following discusses our marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities accounted for under the equity method. Our marketable equity securities are publicly traded stocks or funds measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because we use quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. Our non-marketable equity securities are investments in privately held companies without readily determinable market values. The carrying value of our non-marketable equity securities is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative). Non-marketable equity securities that have been remeasured during the period based on observable transactions are classified within Level 2 or Level 3 in the fair value hierarchy because we estimate the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold. The fair value of non-marketable equity securities that have been remeasured due to impairment are classified within Level 3.
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. The Company held $6,738,412 and $5,653,644 as of December 31, 2023 and 2022, respectively, in low-risk cash and 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. The Company sells its raw gold to one smelter. Ownership of the gold is transferred to the smelting company at the mine site.
Recent accounting pronouncements [Policy Text Block]	Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. This ASU is currently not expected to have a material impact on our consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, ASC Subtopic "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of equipment, declining method annual rates [Table Text Block]	Furniture and equipment Computer equipment Vehicles Mining and exploration equipment
Schedule of debt securities at fair value [Table Text Block]	Level 1 - Cash equivalents December 31, 2023 December 31, 2022 Money market funds $ 6,738,412 $ 5,559,705 $ 6,738,412 $ 5,559,705
Schedule of fair value of financial assets and liabilities [Table Text Block]	December 31, 2023 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 7,154,462 $ 7,124,364 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 2,212,401 2,212,401 - - Total $ 9,663,185 $ 9,633,087 $ - $ - December 31, 2022 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 5,781,000 $ 5,781,000 $ - $ - Restricted cash 296,322 296,322 - - Marketable securities 3,497,166 3,497,166 - - Total $ 9,574,488 $ 9,574,488 $ - $ -

PREPAIDS (Tables)

PREPAIDS (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expense, Current [Abstract]
Schedule of prepaid assets [Table Text Block]	December 31, 2023 December 31, 2022 Prepaid insurance $ 17,581 $ 25,536 Prepaid permit fees 12,515 - Legal advances 55,690 73,265 Other 16,399 5,990 $ 102,185 $ 104,791

INVESTMENTS IN TRADING SECURI_2

INVESTMENTS IN TRADING SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of investments [Table Text Block]	December 31, 2023 December 31, 2022 Investments in trading securities at cost $ 3,501,195 $ 3,239,782 Unrealized gains (losses) (1,288,794 ) 257,384 Investments in trading securities at fair market value $ 2,212,401 $ 3,497,166
Schedule of fair value carrying value of investments [Table Text Block]	December 31, 2023 December 31, 2022 Marketable Equity Securities - Level 1 Publicly traded investments $ 2,212,401 $ 2,677,169 Marketable Debt Securities - Level 2 Corporate bonds - 117,157 Non-Marketable Equity Securities - Level 3 Private investments - 702,840 Total investments $ 2,212,401 $ 3,497,166
Schedule of gains and losses on investments [Table Text Block]	December 31, 2023 December 31, 2022 December 31, 2021 Marketable Equity Securities - Level 1 Publicly traded investments - realized $ 95,688 $ 354,811 $ 559,850 Publicly traded investments - unrealized (480,827 ) (148,456 ) 227,653 Non-Marketable Debt Securities - Level 2 Private bonds (194,255 ) (20,980 ) 11,720 Non-Marketable Equity Securities - Level 3 Private investments - realized - - (275,719 ) Private investments - unrealized (815,304 ) 175,376 - Total investments $ (1,394,698 ) $ 360,754 $ 523,504
Schedule of investment of reported as trading securities [Table Text Block]	December 31, 2023 December 31, 2022 December 31, 2021 Net gain (loss) on trading securities $ (58,197 ) $ 360,754 $ 714,523 Impairment loss on trading securities (1,336,501 ) - (211,018 ) Other - - 19,999 Total gain (loss) on investments $ (1,394,698 ) $ 360,754 $ 523,504
Schedule of interest and dividend income from investment portfolio [Table Text Block]	December 31, 2023 December 31, 2022 December 31, 2021 Interest earned and dividends $ 371,525 $ 143,407 $ 55,972

EQUIPMENT (Tables)

EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of equipment [Table Text Block]	December 31, 2023 Cost Accumulated Net Book Value Exploration equipment $ 2,282,277 $ 1,909,186 $ 373,091 Vehicles 800,628 630,522 170,106 $ 3,082,905 $ 2,539,708 $ 543,197 December 31, 2022 Cost Accumulated Net Book Value Exploration equipment $ 2,282,277 $ 1,802,719 $ 479,558 Vehicles 762,906 571,091 191,815 $ 3,045,183 $ 2,373,810 $ 671,373

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of accounts payable and accrued liabilities [Table Text Block]	December 31, 2023 December 31, 2022 Trade payables $ 2,137 $ 67,584 Accrued royalties and taxes 1,230,012 1,018,737 Accrued other liabilities 48,911 38,871 $ 1,281,060 $ 1,125,192
Schedule of aging trade payables [Table Text Block]	December 31, 2023 December 31, 2022 Current $ 2,137 $ 67,584 >60 days - - $ 2,137 $ 67,584

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
	Dec. 31, 2023
Asset Retirement Obligation [Abstract]
Schedule of asset retirement obligations [Table Text Block]	December 31, December 31, 2022 Balance, beginning of year $ 99,514 $ 93,343 Change in obligation (13,886 ) 6,171 Accretion expense - - Balance, end of year $ 85,628 $ 99,514

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock options outstanding [Table Text Block]	Number of Options Exercise Price Expiry Date 382,000 CDN$0.15 December 31, 2032 54,000 CDN$0.60 June 1, 2040 250,000 CDN$0.20 October 8, 2035 360,000 CDN$1.23 October 23, 2040 400,000 CDN$0.40 May 5, 2036 690,000 CDN$0.30 July 1, 2037 450,000 CDN$0.81 December 14, 2042 62,500 CDN$0.92 April 27, 2043
Schedule of share-based payment arrangement, option, activity [Table Text Block]	December 31, 2023 December 31, 2022 Number of Options Weighted Exercise Price Number of Options Weighted Exercise Price Outstanding, beginning of year 2,586,000 CAD $ 0.37 2,381,000 CAD $ 0.36 Granted 62,500 CAD 0.92 450,000 CAD 0.81 Exercised - - - - Cancelled/Expired - - (245,000) CAD 0.69 Outstanding, end of year 2,648,500 CAD $ 0.39 2,586,000 CAD $ 0.37 Exercisable, end of year 2,648,500 CAD $ 0.39 2,586,000 CAD $ 0.37
Schedule of share-based compensation, stock options black-scholes valuation assumptions [Table Text Block]	2023 2022 2021 Risk-free interest rate 3.00% 1.75% 1.75% Expected life 5.0 years 5.0 years 3.0 years Annualized volatility 64% 68% 70% Dividend rate - - -

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of related party transactions [Table Text Block]	December 31, 2023 December 31, 2022 December 31, 2021 Consulting fees paid or accrued to officers or their companies $ 1,035,063 $ 909,314 $ 1,124,304 Directors' fees 2,223 2,308 2,398 Stock option grants to officers and directors $ 23,750 $ 120,563 Stock option grant price range CAD$0.92 CAD$0.81

SUPPLEMENTAL DISCLOSURE WITH _2

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flow, supplemental disclosures [Table Text Block]	December 31, 2023 December 31, 2022 December 31, 2021 Cash paid during the period for: Interest $ - $ - $ - Income taxes $ 650,540 $ 581,263 $ 288,192

DEFERRED INCOME TAXES (Tables)

DEFERRED INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Income Taxes and Other Assets [Abstract]
Schedule of components of income tax expense (benefit) [Table Text Block]	2023 2022 2021 Pre tax income $ 876,539 $ 1,564,849 $ 2,045,713 Tax at the BVI rate 0% - - - Tax in Ghana at 35% 933,918 745,787 806,761 Other 12,082 (6,043 ) - Temporary differences (84,185 ) 60,256 281,431 Income tax $ 861,815 $ 800,000 $ 1,088,192
Schedule of reconciliation of effective income tax [Table Text Block]	2023 2022 2021 Tax in Ghana at 35% $ 933,918 $ 745,787 $ 806,761 Accrual for tax - current year 800,000 800,000 800,000 133,918 (54,213 ) 6,671 Unaccrued tax payments related to previous years (61,815 ) - - Differences, current year 72,103 (54,213 ) 6,671 Cumulative differences, prior year (47,452 ) 6,671 - Cumulative differences, current year 24,651 (47,452 ) 6,671 Valuation allowance (24,651 ) 47,452 (6,671 ) Total deferred income tax asset (liability) $ - $ - $ -

HISTORY AND ORGANIZATION OF T_2

HISTORY AND ORGANIZATION OF THE COMPANY (Narrative) (Details) - Other Investee [Member]	Dec. 31, 2004
Canadiana Gold Resources Limited [Member]
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Equity method investment, ownership percentage	100%
Goldenrae Mining Company Limited [Member]
Organization Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Equity method investment, ownership percentage	90%
Noncontrolling interest, ownership percentage by noncontrolling owners	10%

GOING CONCERN (Narrative) (Det

GOING CONCERN (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Going Concern [Abstract]
Net income (loss) attributable to Xtra-Gold Resources Corp.	$ (165,928)	$ 631,767	$ 835,976
Deficit accumulated	$ 21,511,326	$ 21,345,398

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Reductionin common stock par or stated value per share	$ 0.001
Cash, uninsured Amount	$ 6,738,412	$ 5,653,644
XG Mining [Member]
Significant Accounting Policies [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners	10%
XG Mining [Member] | Other Investee [Member]
Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	90%

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Equipment, Declining Method Annual Rates (Details)	12 Months Ended
	Dec. 31, 2023
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, amortization rate	20%
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, amortization rate	30%
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Equipment, amortization rate	30%
Mining and exploration equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, amortization rate	20%

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Debt Securities at Fair Value by Significant Investment Categories (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Money market funds	$ 6,738,412	$ 5,559,705
Debt securities at fair value	$ 6,738,412	$ 5,559,705

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Fair Value of Financial Assets And Liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 7,154,462	$ 5,781,000	$ 4,675,328	$ 4,451,256
Restricted cash	296,322	296,322	$ 296,322	$ 296,322
Marketable securities	2,212,401	3,497,166
Total	9,663,185	9,574,488
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	7,124,364	5,781,000
Restricted cash	296,322	296,322
Marketable securities	2,212,401	3,497,166
Total	9,633,087	9,574,488
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Marketable securities	0	0
Total	0	0
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Marketable securities	0	0
Total	$ 0	$ 0

PREPAIDS - Schedule of prepaid

PREPAIDS - Schedule of prepaid assets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense, Current [Abstract]
Prepaid insurance	$ 17,581	$ 25,536
Prepaid permit fees	12,515	0
Legal advances	55,690	73,265
Other	16,399	5,990
Prepaid expense, Total	$ 102,185	$ 104,791

INVESTMENTS IN TRADING SECURI_3

INVESTMENTS IN TRADING SECURITIES (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Trading Securities	$ 2,212,401	$ 3,497,166
Impairment loss on trading securities	$ (1,336,501)	$ 0	$ (211,018)

INVESTMENTS IN TRADING SECURI_4

INVESTMENTS IN TRADING SECURITIES - Schedule of Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments in trading securities at cost	$ 3,501,195	$ 3,239,782
Unrealized gains (losses)	(1,288,794)	257,384
Investments in trading securities at fair market value	$ 2,212,401	$ 3,497,166

INVESTMENTS IN TRADING SECURI_5

INVESTMENTS IN TRADING SECURITIES - Schedule of Fair Value Carrying Value of Investments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Total investments	$ 2,212,401	$ 3,497,166
Marketable Equity Securities - Level 1 [Member] | Publicly traded investments [Member]
Schedule of Investments [Line Items]
Total investments	2,212,401	2,677,169
Marketable Debt Securities - Level 2 [Member] | Corporate bonds [Member]
Schedule of Investments [Line Items]
Total investments	0	117,157
Non-Marketable Equity Securities - Level 3 [Member] | Private investments [Member]
Schedule of Investments [Line Items]
Total investments	$ 0	$ 702,840

INVESTMENTS IN TRADING SECURI_6

INVESTMENTS IN TRADING SECURITIES - Schedule of Gains and Losses on Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Unrealized	$ (1,288,794)	$ 257,384
Total investments	(1,394,698)	360,754	$ 523,504
Marketable Equity Securities - Level 1 [Member] | Publicly traded investments [Member]
Schedule of Investments [Line Items]
Realized	95,688	354,811	559,850
Unrealized	(480,827)	(148,456)	227,653
Non-Marketable Debt Securities - Level 2 [Member] | Private bonds [Member]
Schedule of Investments [Line Items]
Total investments	(194,255)	(20,980)	11,720
Non-Marketable Equity Securities - Level 3 [Member] | Private investments [Member]
Schedule of Investments [Line Items]
Realized	0	0	(275,719)
Unrealized	$ (815,304)	$ 175,376	$ 0

INVESTMENTS IN TRADING SECURI_7

INVESTMENTS IN TRADING SECURITIES - Schedule of investment of reported as trading securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net gain (loss) on trading securities	$ (58,197)	$ 360,754	$ 714,523
Impairment loss on trading securities	(1,336,501)	0	(211,018)
Other	0	0	19,999
Total gain (loss) on investments	$ (1,394,698)	$ 360,754	$ 523,504

INVESTMENTS IN TRADING SECURI_8

INVESTMENTS IN TRADING SECURITIES - Schedule of interest and dividend income from its investment portfolio (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Interest earned and dividends	$ 371,525	$ 143,407	$ 55,972

EQUIPMENT (Narrative) (Details)

EQUIPMENT (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 165,898	$ 188,356	$ 173,667

EQUIPMENT - Schedule of Equipme

EQUIPMENT - Schedule of Equipment (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Cost	$ 3,082,905	$ 3,045,183
Accumulated Depreciation	2,539,708	2,373,810
Net Book Value	543,197	671,373
Exploration equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	2,282,277	2,282,277
Accumulated Depreciation	1,909,186	1,802,719
Net Book Value	373,091	479,558
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost	800,628	762,906
Accumulated Depreciation	630,522	571,091
Net Book Value	$ 170,106	$ 191,815

MINERAL PROPERTIES (Narrative)

MINERAL PROPERTIES (Narrative) (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2010 GHS (GH₵)	Dec. 31, 2010 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Mineral Properties [Line Items]
Grant of a mining lease per cadastral unit/or 21.24 hectare	$ 1,000
Mineral properties				$ 734,422	$ 734,422
Banso and Muoso projects [Member]
Mineral Properties [Line Items]
Payments to acquire lease			$ 30,000
Banso projects [Member]
Mineral Properties [Line Items]
Annual ground rent of mining		GH₵ 189,146	35,688
Muoso projects [Member]
Mineral Properties [Line Items]
Annual ground rent of mining		GH₵ 202,378	$ 38,185
Government of Ghana [Member]
Mineral Properties [Line Items]
Percentage of production royalty		5%	5%

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of trade payables and accrued liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Trade payables	$ 2,137	$ 67,584
Accrued royalties and taxes	1,230,012	1,018,737
Accrued other liabilities	48,911	38,871
Accounts payable and accrued liabilities	$ 1,281,060	$ 1,125,192

ACCOUNTS PAYABLE AND ACCRUED _4

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of aging of trade payables) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Current	$ 2,137	$ 67,584
>60 days	0	0
Total trade payables	$ 2,137	$ 67,584

ASSET RETIREMENT OBLIGATION (Na

ASSET RETIREMENT OBLIGATION (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation [Abstract]
Asset retirement obligation	$ 85,628	$ 99,514	$ 93,343
Restricted cash	$ 296,322	$ 296,322	$ 296,322	$ 296,322

ASSET RETIREMENT OBLIGATION - S

ASSET RETIREMENT OBLIGATION - Schedule of Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation [Abstract]
Balance, beginning of year	$ 99,514	$ 93,343
Change in obligation	(13,886)	6,171
Accretion expense	0	0
Balance, end of year	$ 85,628	$ 99,514

CAPITAL STOCK (Narrative) (Deta

CAPITAL STOCK (Narrative) (Details)			1 Months Ended					12 Months Ended
	Dec. 14, 2022 $ / shares	Dec. 14, 2022 USD ($) $ / shares shares	Apr. 24, 2024 shares	Apr. 27, 2023 $ / shares	Apr. 27, 2023 USD ($) $ / shares shares	Jan. 31, 2022 shares	Jul. 30, 2011	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized								250,000,000	250,000,000
Common stock, par value per share | $ / shares								$ 0.001	$ 0.001
Repurchase of shares | $								$ 171,325	$ 156,249	$ 320,235
Treasury shares cancelled						28,500		28,500	11,500
Stock option plan, rolling percentage							10%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $								$ 1,115,000	$ 786,600
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term								10 years 8 months 12 days	11 years 8 months 12 days
Stock-based compensation | $								$ 23,750	$ 237,078	$ 2,504
Number of Options, Granted								62,500	450,000
Weighted Average Exercise Price, Granted | $ / shares								$ 0.92	$ 0.81
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term							20 years
First Repurchase [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of shares (shares)								234,200	223,000
Repurchase of shares | $								$ 150,582	$ 156,249
Second Repurchase [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of shares | $								$ 6,892	$ 13,294
Common shares re-purchased which were held in treasury								11,500	17,600
Third Repurchase [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of shares (shares)								28,500	11,500
Treasury Stock, Common, Value | $								$ 20,744	$ 6,892
Options granted to insiders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted		350,000			62,500
Expense of share-based payment arrangement | $		$ 120,563			$ 23,750
Weighted Average Exercise Price, Granted | (per share)	$ 0.81	$ 0.6		$ 0.92	$ 0.68
Options granted to non-insiders [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted		100,000
Expense of share-based payment arrangement | $		$ 34,447
Weighted Average Exercise Price, Granted | (per share)	$ 0.81	$ 0.6
Options granted to consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense of share-based payment arrangement | $									$ 4,976
Option terms to maturity [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense of share-based payment arrangement | $		$ 77,092
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of shares (shares)			53,800
Common shares re-purchased which were held in treasury			74,000
Treasury shares cancelled			20,200

CAPITAL STOCK - Schedule of Sto

CAPITAL STOCK - Schedule of Stock Options Oustanding (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	2,648,500	2,648,500	2,586,000	2,381,000
Exercise Price | $ / shares		$ 0.39	$ 0.37	$ 0.36
Options Outstanding 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	382,000	382,000
Exercise Price | $ / shares	$ 0.15
Expiry Date	Dec. 31, 2032
Options Outstanding 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	54,000	54,000
Exercise Price | $ / shares	$ 0.6
Expiry Date	Jun. 01, 2040
Options Outstanding 3 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	250,000	250,000
Exercise Price | $ / shares	$ 0.2
Expiry Date	Oct. 08, 2035
Options Outstanding 4 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	360,000	360,000
Exercise Price | $ / shares	$ 1.23
Expiry Date	Oct. 23, 2040
Options Outstanding 5 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	400,000	400,000
Exercise Price | $ / shares	$ 0.4
Expiry Date	May 05, 2036
Options Outstanding 6 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	690,000	690,000
Exercise Price | $ / shares	$ 0.3
Expiry Date	Jul. 01, 2037
Options Outstanding 7 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	450,000	450,000
Exercise Price | $ / shares	$ 0.81
Expiry Date	Dec. 14, 2042
Options Outstanding 8 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options | shares	62,500	62,500
Exercise Price | $ / shares	$ 0.92
Expiry Date	Apr. 27, 2043

CAPITAL STOCK - Schedule of Sha

CAPITAL STOCK - Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Number of Options, Outstanding, beginning of year	2,586,000	2,381,000
Weighted Average Exercise Price, Outstanding, beginning of year	$ 0.37	$ 0.36
Number of Options, Granted	62,500	450,000
Weighted Average Exercise Price, Granted	$ 0.92	$ 0.81
Number of Options, Exercised	0	0
Weighted Average Exercise Price, Exercised	$ 0	$ 0
Number of Options, Cancelled/Expired	0	(245,000)
Weighted Average Exercise Price, Cancelled/Expired	$ 0	$ 0.69
Number of Options, Outstanding end of year	2,648,500	2,586,000
Weighted Average Exercise Price, Outstanding end of year	$ 0.39	$ 0.37
Number of Options, Exercisable end of year	2,648,500	2,586,000
Weighted Average Exercise Price, Exercisable end of year	$ 0.39	$ 0.37

CAPITAL STOCK - Schedule of S_2

CAPITAL STOCK - Schedule of Share-based Compensation, Stock Options Black-Scholes Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	3%	1.75%	1.75%
Expected life	5 years	5 years	3 years
Annualized volatility	64%	68%	70%
Dividend rate	0%	0%	0%

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Balance payable, related party	$ 152,415	$ 152,415	$ 181,973	$ 181,973
Stock options granted | shares		62,500		450,000
Exercise price for stock options granted | $ / shares		$ 0.92		$ 0.81
A private company of which a related party is a 50% shareholder and director [Member]
Related Party Transaction [Line Items]
Consulting fees paid to shareholder and directors		$ 720,442		$ 691,435	$ 772,494
Amounts of transaction which related party is entitled to receive		360,221		345,717	386,247
Due from related party	181,973	181,973	181,973	181,973
Balance payable, related party	152,415	152,415	152,415	152,415
Amount payable for expenses earned for work on behalf of company	0	0	$ 0	0
CEO [Member]
Related Party Transaction [Line Items]
Due from related party					$ 50,000
Insiders [Member]
Related Party Transaction [Line Items]
Consulting fees paid to shareholder and directors		23,750		$ 120,563
Due from related party	$ 77,092	$ 77,092
Stock options granted | shares		62,500		350,000
Exercise price for stock options granted | (per share)	$ 0.92	$ 0.68	$ 0.81	$ 0.6

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Stock option grants | shares		62,500		450,000
Stock option grant price range | $ / shares		$ 0.92		$ 0.81
Officers and directors [Member]
Related Party Transaction [Line Items]
Consulting fees paid or accrued to officers or their companies | $		$ 1,035,063		$ 909,314	$ 1,124,304
Directors' fees | $		$ 2,223		$ 2,308	$ 2,398
Stock option grants | shares		23,750		120,563
Stock option grant price range | $ / shares	$ 0.92		$ 0.81

SUPPLEMENTAL DISCLOSURE WITH _3

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash paid during the period for Income taxes	$ 650,540	$ 581,263	$ 288,192
Accrued income tax payments related to activities in Ghana	$ 700,000	$ 800,000	$ 720,000

SUPPLEMENTAL DISCLOSURE WITH _4

SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash paid during the period for Interest	$ 0	$ 0	$ 0
Cash paid during the period for Income taxes	$ 650,540	$ 581,263	$ 288,192

DEFERRED INCOME TAXES (Narrativ

DEFERRED INCOME TAXES (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ (24,651)	$ 47,452	$ (6,671)
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance	72,103
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 24,651
British Virgin Islands [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	0%
Ghana [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	35%

DEFERRED INCOME TAXES - Schedul

DEFERRED INCOME TAXES - Schedule of Deferred Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Pre tax income	$ 876,539	$ 1,564,849	$ 2,045,713
Tax at federal rate	933,918	745,787	806,761
Other	12,082	(6,043)	0
Temporary differences	(84,185)	60,256	281,431
Income tax	$ 861,815	800,000	1,088,192
British Virgin Islands [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	0%
Tax at federal rate	$ 0	0	0
Ghana [Member]
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	35%
Tax at federal rate	$ 933,918	$ 745,787	$ 806,761

DEFERRED INCOME TAXES - Sched_2

DEFERRED INCOME TAXES - Schedule of reconciliation of effective income tax (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Tax at federal rate	$ 933,918	$ 745,787	$ 806,761
Accrual for tax - current year	800,000	800,000	800,000
Reconciliation of income tax	133,918	(54,213)	6,671
Unaccrued tax payments related to previous years	(61,815)	0	0
Differences, current year	72,103	(54,213)	6,671
Cumulative differences, prior year	(47,452)	6,671	0
Cumulative differences, current year	24,651	(47,452)	6,671
Valuation allowance	(24,651)	47,452	(6,671)
Total deferred income tax asset (liability)	$ 0	0	0
GHANA
Operating Loss Carryforwards [Line Items]
Corporate income tax rate	35%
Tax at federal rate	$ 933,918	$ 745,787	$ 806,761

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Narrative) (Details)	Dec. 31, 2023 GHS (GH₵)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 11, 2022 USD ($)	Oct. 19, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Additional amount of lawsuit claim from local government for an annual business operating permit	GH₵ 90,000	$ 9,000
Restricted cash		$ 296,322	$ 296,322			$ 296,322	$ 296,322
Term of lease of Kibi Project	15 years	15 years
Ghanaian subsidiary [Member]
Outstanding annual mineral right fees					$ 11,714,800
Ghana Revenue Agency [Member]
Tax Liability				$ 1,186,701
Additional tax liability				$ 356,281

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) - shares	1 Months Ended			12 Months Ended
	Apr. 24, 2024	Mar. 17, 2023	Jan. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Treasury shares cancelled			28,500	28,500	11,500
2024 share repurchase plan [Member] | Maximum [Member]
Subsequent Event [Line Items]
Number of shares authorised to repurchase		4,000,000
Subsequent event [Member]
Subsequent Event [Line Items]
Treasury shares cancelled	20,200
Stock repurchased during period	74,000
Stock repurchased and cancelled	53,800