Document and Entity Information
Document and Entity Information | 12 Months Ended |
Sep. 30, 2023 $ / shares shares | |
Registrant CIK | 0001409036 |
Document Period Start Date | Oct. 01, 2022 |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Sep. 30, 2023 |
Current Fiscal Year End Date | --09-30 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 000-55193 |
Entity Registrant Name | Silver North Resources Ltd. |
Country of incorporation | Canada |
Entity Incorporation, State or Country Code | Z4 |
Entity Address, Address Line One | Suite 410 |
Entity Address, Address Line Two | 325 Howe Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 1Z7 |
Entity Address, Address Description | Address of principal executive offices |
Title of 12(g) Security | Common Shares, no par value |
Entity Listing, Par Value Per Share | $ / shares | $ 0 |
Entity Common Stock, Shares Outstanding | shares | 158,950,655 |
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 | true |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Document Financial Statement Error Correction | false |
Entity Accounting Standard | International Financial Reporting Standards |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Amendment Flag | false |
No Trading Symbol Flag | true |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Auditor Name | De Visser Gray LLP |
Auditor Firm ID | 1054 |
Auditor Location | Vancouver, Canada |
Business Contact | |
Entity Address, Address Line One | 410 |
Entity Address, Address Line Two | 325 Howe Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 1Z7 |
Entity Address, Address Description | Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person |
Contact Personnel Name | Winnie Wong |
Contact Personnel Email Address | wwong@pacificopportunity.com |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Current assets | ||
Cash | $ 135,203 | $ 403,093 |
Restricted cash | 0 | 234,081 |
Deferred financing costs | 29,000 | 0 |
Marketable securities | 4,500 | 161,799 |
Receivables | 17,030 | 26,707 |
Prepaid expenses | 14,197 | 107,030 |
Assets, Current | 199,930 | 932,710 |
Non-current assets | ||
Exploration and evaluation assets | 6,881,645 | 7,025,515 |
Deposits | 81,415 | 94,720 |
VAT receivables | 0 | 41,186 |
Assets, Noncurrent | 6,963,060 | 7,161,421 |
Total assets | 7,162,990 | 8,094,131 |
Current liabilities | ||
Accounts payable and accrued liabilities | 246,582 | 480,299 |
Due to related parties | 637,105 | 385,574 |
Funds held for optionee | 0 | 234,081 |
Flow-through share premium liability | 0 | 4,221 |
Liabilities, Current | 883,687 | 1,104,175 |
Shareholders' equity | ||
Common Stock, Value | 24,891,882 | 24,869,917 |
Common Stock, Value | 85,000 | 0 |
Reserves | 3,745,186 | 3,745,186 |
Accumulated other comprehensive loss | (38,104) | (15,526) |
Deficit | (22,404,661) | (21,609,621) |
Equity, Attributable to Parent | 6,279,303 | 6,989,956 |
Total shareholders' equity and liabilities | $ 7,162,990 | $ 8,094,131 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | 12 Months Ended | |||||
Sep. 30, 2023 $ / shares | Sep. 30, 2023 CAD ($) shares | Sep. 30, 2022 $ / shares | Sep. 30, 2022 CAD ($) shares | Sep. 30, 2021 $ / shares | Sep. 30, 2021 CAD ($) shares | |
Expenses | ||||||
Accounting and legal fees | $ 169,483 | $ 201,577 | $ 207,000 | |||
Investor relations and shareholder information | 144,501 | 465,385 | 517,551 | |||
Office facilities and administrative services | 18,000 | 18,002 | 18,000 | |||
Office expenses | 20,271 | 15,823 | 13,469 | |||
Property investigation expenses | 23,667 | 33,696 | 53,953 | |||
Share-based payments | 0 | 365,300 | 202,304 | |||
Transfer agent, listing and filing fees | 47,151 | 37,123 | 47,721 | |||
Travel | 9,751 | 27,195 | 3,054 | |||
Wages, benefits and consulting fees | 194,233 | 174,219 | 193,848 | |||
Operating Expenses | (627,057) | (1,338,320) | (1,256,900) | |||
Interest income and other income | 2,376 | 1,997 | 1,187 | |||
Fair value gain (loss) on marketable securities | 76,985 | (84,485) | 0 | |||
Flow-through share premium recovery | 4,221 | 28,828 | 349,676 | |||
Foreign exchange gain (loss) | 128 | 36,486 | (24,618) | |||
Loss of sale / transfer of marketable securities | (30,052) | (416) | 0 | |||
Proceeds received in excess of exploration and evaluation asset costs | 133,008 | 341,966 | 0 | |||
Other income | 27,000 | 0 | 0 | |||
Write-down of exploration and evaluation assets | (338,943) | (1,038,046) | (8,469) | |||
Write-down of VAT receivables | (42,706) | 0 | 0 | |||
Net Income (Loss) Attributable to Parent | (795,040) | (2,051,990) | (939,124) | |||
Exchange difference arising on the translation of foreign subsidiary | (22,578) | 29,407 | (20,694) | |||
Total comprehensive loss for the year | $ (817,618) | $ (2,022,583) | $ (959,818) | |||
Basic and diluted loss per common share | $ / shares | $ (0.02) | $ (0.07) | $ (0.03) | |||
Weighted average number of common shares outstanding - basic and diluted | shares | 31,838,036 | 30,524,378 | 27,853,978 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - CAD ($) | Common Stock | Share Subscription | Equity settled employee benefits | Warrant | Finders' warrants | Foreign exchange reserve | Retained earnings | Total |
Equity Balance, Starting at Sep. 30, 2020 | $ 20,068,707 | $ 0 | $ 1,930,488 | $ 641,848 | $ 303,147 | $ (24,239) | $ (18,618,507) | $ 4,301,444 |
Shares Outstanding, Starting at Sep. 30, 2020 | 22,048,547 | |||||||
Private Placements, amount | $ 4,065,589 | 0 | 0 | 0 | 0 | 0 | 0 | 4,065,589 |
Private Placements, Shares | 6,412,367 | |||||||
Share issue costs | $ (502,142) | 0 | 0 | 0 | 153,927 | 0 | 0 | (348,215) |
Acquisition of exploration and evaluation assets | $ 29,500 | 0 | 0 | 0 | 0 | 0 | 0 | 29,500 |
Acquisition of exploration and evaluation assets | 70,000 | |||||||
Exercise of Finder's Warrants, Amount | $ 4,633 | 0 | 0 | 0 | (1,828) | 0 | 0 | 2,805 |
Exercise of Finder's Warrants, Shares | 11,220 | |||||||
Exercise of warrants | $ 624,000 | 0 | 0 | 0 | 0 | 0 | 0 | 624,000 |
Exercise of warrants | 1,248,000 | |||||||
Stock Granted, Value, Share-based Compensation, Net of Forfeitures | $ 0 | 0 | 202,304 | 0 | 0 | 0 | 0 | 202,304 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | |||||||
Share subscription | 0 | |||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | 0 | (20,694) | (939,124) | (959,818) |
Shares Outstanding, Ending at Sep. 30, 2021 | 29,790,134 | |||||||
Equity Balance, Ending at Sep. 30, 2021 | $ 24,290,287 | 0 | 2,132,792 | 641,848 | 455,246 | (44,933) | (19,557,631) | 7,917,609 |
Private Placements, amount | $ 600,000 | 0 | 0 | 150,000 | 0 | 0 | 0 | 750,000 |
Private Placements, Shares | 2,000,000 | |||||||
Share issue costs | $ (20,370) | 0 | 0 | 0 | 0 | 0 | 0 | (20,370) |
Exercise of warrants | 0 | |||||||
Stock Granted, Value, Share-based Compensation, Net of Forfeitures | $ 0 | 0 | 365,300 | 0 | 0 | 0 | 0 | 365,300 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | |||||||
Share subscription | 0 | |||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | 0 | 29,407 | (2,051,990) | (2,022,583) |
Shares Outstanding, Ending at Sep. 30, 2022 | 31,790,134 | |||||||
Equity Balance, Ending at Sep. 30, 2022 | $ 24,869,917 | 0 | 2,498,092 | 791,848 | 455,246 | (15,526) | (21,609,621) | 6,989,956 |
Exercise of warrants | $ 21,965 | 0 | 0 | 0 | 0 | 0 | 0 | 21,965 |
Exercise of warrants | 87,860 | |||||||
Share subscription | $ 0 | 85,000 | 0 | 0 | 0 | 0 | 0 | 85,000 |
Share subscription | 0 | |||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | 0 | (22,578) | (795,040) | (817,618) |
Shares Outstanding, Ending at Sep. 30, 2023 | 31,877,994 | |||||||
Equity Balance, Ending at Sep. 30, 2023 | $ 24,891,882 | $ 85,000 | $ 2,498,092 | $ 791,848 | $ 455,246 | $ (38,104) | $ (22,404,661) | $ 6,279,303 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from (used in) operating activities | |||
Net loss for the year | $ (795,040) | $ (2,051,990) | $ (939,124) |
Items not affecting cash | |||
Fair value (gain) loss on marketable securities | (76,985) | 84,485 | 0 |
Flow-through share premium recovery | (4,221) | (28,828) | (349,676) |
Loss on sale / transfer of marketable securities | 30,052 | 416 | 0 |
Other income | (27,000) | 0 | 0 |
Proceeds received in excess of exploration and evaluation asset costs | (133,008) | (341,966) | 0 |
Share-based payments | 0 | 365,300 | 202,304 |
Write-down of exploration and evaluation assets | 338,943 | 1,038,046 | 8,469 |
Write-down of VAT receivables | 42,706 | 0 | 0 |
Changes in non-cash working capital items | |||
Receivables | 65,875 | 17,502 | (30,622) |
Due from alliance partner | 0 | 126,047 | (126,047) |
VAT Receivables | (198) | (753) | (1,102) |
Prepaid expenses | 72,156 | (60,669) | 53,109 |
Accounts payable and accrued liabilities | 147,863 | 11,604 | (48,373) |
Due to related parties | 203,085 | 170,843 | (24,606) |
Funds held for optionee | (234,081) | 234,081 | (83,070) |
Net cash (used in) operating activities | (369,853) | (435,882) | (1,338,738) |
Cash flows from (used in) investing activities | |||
Proceeds from sale of marketable securities | 216,232 | 0 | 0 |
Deposits | 12,224 | (61,584) | (27,563) |
Exploration and evaluation assets, net of recoveries | (452,748) | 12,341 | (3,298,056) |
Net cash (used in) investing activities | (224,292) | (49,243) | (3,325,619) |
Cash flows from financing activities | |||
Share subscription | 85,000 | 0 | 0 |
Proceeds from issuance of common shares | 0 | 750,000 | 4,448,315 |
Exercise of warrants | 21,965 | 0 | 624,000 |
Proceeds from exercise of finder's warrants | 0 | 0 | 2,805 |
Share issue costs | 0 | (20,370) | (368,215) |
Net cash provided by financing activities | 106,965 | 729,630 | 4,706,905 |
Effect of exchange rate changes on cash | (14,791) | (20,007) | 8,065 |
Change in cash for the year | (501,971) | 224,498 | 50,613 |
Cash, beginning of the year | 637,174 | 412,676 | 362,063 |
Cash, end of the year | $ 135,203 | $ 637,174 | $ 412,676 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS - Supplemental disclosure - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
Cash comprised of | |||
Cash | $ 135,203 | $ 403,093 | $ 412,676 |
Restricted cash | 0 | 234,081 | 0 |
Supplemental Cash Flow Information | |||
Cash Held for flow-through expenditures | 0 | 50,654 | 396,594 |
Cash Included in Accounts Payable and Accrued Liabilities Related to Prepaid Expenses | 0 | 20,398 | 0 |
Cash Included in accounts payable and accrued liabilities is related to flow-through expenditures | $ 0 | $ 0 | $ 40,413 |
1. NATURE OF OPERATIONS AND GOI
1. NATURE OF OPERATIONS AND GOING CONCERN | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
1. NATURE OF OPERATIONS AND GOING CONCERN | 1. NATURE OF OPERATIONS AND GOING CONCERN Silver North Resources Ltd. (formerly Alianza Minerals Ltd., “Alianza”) (the “Company” or “Silver North”) was incorporated in Alberta on October 21, 2005 under the Business Corporations Act of Alberta and its registered office is Suite 410, 325 Howe Street, Vancouver, BC, Canada, V6C 1Z7. On April 25, 2008 the Company filed for a certificate of continuance and is continuing as a BC Company under the Business Corporations Act (British Columbia). The Company changed its name and consolidated its shares (“Consolidation”) on August 14, 2023 and began trading on the TSX Venture Exchange (the “Exchange”) under the symbol “SNAG”. The Company is an exploration stage company and is engaged principally in the acquisition and exploration of mineral properties. The recovery of the Company’s investment in its exploration and evaluation assets is dependent upon the future discovery, development and sale of minerals, upon the ability to raise sufficient capital to finance these activities, and/or upon the sale of these properties. These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) applicable to a going concern, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The ability of the Company to continue as a going concern is dependent on obtaining additional financing through the issuance of common shares or obtaining joint venture or property sale agreements for one or more properties. There can be no assurance that the Company will be able to continue to raise funds in which case the Company may be unable to meet its obligations. Should the Company be unable to realize on its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded on the consolidated statement of financial position. The consolidated financial statements do not include adjustments to amounts and classifications of assets and liabilities that might be necessary should the Company be unable to continue operations. Adverse financial market conditions and volatility increase the uncertainty of the Company’s ability to continue as a going concern given the need to both manage expenditures and to raise additional funds. The Company is experiencing, and has experienced, negative operating cash flows. The Company will continue to search for new or alternate sources of financing but anticipates that the current market conditions may impact the ability to source such funds. Accordingly, these material uncertainties cast significant doubt upon the Company’s ability to continue as a going concern. As at September 30, 2023, the Company had a working capital deficiency of $683,757 (September 30, 2022: $171,465) and shareholders’ equity of $6,279,303 (September 30, 2022: $6,989,956). |
2. BASIS OF PREPARATION
2. BASIS OF PREPARATION | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
2. BASIS OF PREPARATION | 2. BASIS OF PREPARATION Statement of Compliance These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). Basis of preparation These consolidated financial statements have been prepared on a historical cost basis. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are published at the time of preparation. New accounting standards and interpretations Certain new accounting standards and interpretations have been published that are not mandatory for the September 30, 2023 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective: · An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position. |
3. SIGNIFICANT ACCOUNTING POLIC
3. SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
3. SIGNIFICANT ACCOUNTING POLICIES | 3. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements of the Company include the accounts of Alianza Minerals Ltd. and the following entities: Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company (1) All subsidiaries are entities that we control, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss. Certain of our business activities are conducted through associates (see below). Interests in Joint Arrangements A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement. Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements. Investments in Associates and Joint Ventures Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method. The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets such as dividends. The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture. If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized. At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture. Foreign currencies The functional and presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rate of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The Company has determined that the functional currency of its subsidiaries in Peru is the Peruvian nuevo sole and the functional currency of its subsidiaries in USA is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the foreign exchange reserve. Exploration and evaluation The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of its mineral claims and crediting all proceeds received against the cost of related claims. Such costs include, but are not exclusive to, geological, geophysical studies, exploratory drilling and sampling. At such time as commercial production commences, these costs will be charged to operations on a unit-of-production method based on proven and probable reserves. The aggregate costs related to abandoned mineral claims are charged to operations at the time of any abandonment or when it has been determined that there is evidence of a permanent impairment. An impairment charge relating to a mineral property is subsequently reversed when new exploration results or actual or potential proceeds on sale result in a revised estimate of the recoverable amount but only to the extent that this does not exceed the original carrying value of the property that would have resulted if no impairment had been recognized. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in income costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Upon transfer of “Exploration and evaluation costs” into “Mine development”, all subsequent expenditure on the construction, installation or completion of infrastructure facilities is capitalized within “Mine development”. After production starts, all assets included in “Mine development” are transferred to “Producing mines”. All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditures are not expected to be recovered, they are charged to operations. Exploration areas where reserves have been discovered, but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of reserves exist or to ensure that additional exploration work is underway as planned. Decommissioning, restoration, and similar obligations An obligation to incur restoration, rehabilitation and environmental costs arises when an environmental disturbance is caused by the exploration, development or ongoing production of a mineral property interest. Such costs arising for the decommissioning of plant and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying value of the asset, as soon as the obligation to incur such costs arises. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. These costs are charged against profit or loss over the economic life of the related asset, through amortization using either the unit-of-production or the straight-line method. The related liability is adjusted each period for the unwinding of the discount rate and for changes to the current market-based discount rate, amount or timing of the underlying cash flows needed to settle the obligation. Costs for restoration of subsequent site damage which is created on an ongoing basis during production are provided for at their net present values and charged against profits as extraction progresses. As at September 30, 2023, the Company has no material restoration, rehabilitation and environmental costs as the disturbance to date is minimal. Financial instruments The Company recognizes an allowance using the Expected Credit Loss (“ECL”) model on financial assets classified as amortized cost. The Company has elected to use the simplified approach for measuring ECL by using a lifetime expected loss allowance for all amounts recoverable. Under this model, impairment provisions are based on credit risk characteristics and days past due. When there is no reasonable expectation of collection, financial assets classified as amortized cost are written off. Indications of credit risk arise based on failure to pay and other factors. Should objective events occur after an impairment loss is recognized, a reversal of impairment is recognized in the statement of loss and comprehensive loss. We have assessed the classification and measurement of our financial assets and financial liabilities under IFRS 9 as follows: IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Marketable securities Fair value through profit and loss Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized in the consolidated statements of comprehensive income or loss. Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made, relate to, but are not limited to, the following: Critical judgments The following are critical judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements: · · · · Impairment At each financial position reporting date, the carrying amounts of the Company’s non-financial assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the statement of comprehensive loss for the period. For the purpose of impairment testing, exploration and evaluation assets are allocated to cash-generating units to which the exploration activity relates. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash generating unit to which the asset belongs. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in the statement of comprehensive loss. Share-based payment transactions The Company’s stock option plan allows the Company’s employees and consultants to acquire shares of the Company through the exercise of granted stock options. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in shareholders’ equity. An individual is classified as an employee when such individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee. The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Warrants with the right to acquire common shares in the Company are typically issued through the Company’s equity financing activities. Where finders’ warrants are issued on a stand-alone basis, their fair values are measured on their issuance date using the Black-Scholes option pricing model and are recorded as both an increase to reserves and as a share issue cost. When warrants are exercised, the cash proceeds along with the amount previously recorded in equity reserves are recorded as share capital. Share capital Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves. Flow-through shares The resource expenditure deductions for income tax purposes related to exploration and development activities funded by flow-through share arrangements are renounced to investors in accordance with Canadian tax legislation. On issuance, the premium recorded on the flow-through share, being the difference in price over a common share with no tax attributes, is recognized as a liability. As expenditures are incurred, the liability associated with the renounced tax deductions is recognized through profit or loss with a pro-rata portion of the deferred premium. Loss per common share The Company presents basic and diluted loss per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period, adjusted for own shares held. Diluted EPS is determined by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding, adjusted for own shares held and for the effects of all potential dilutive common shares related to outstanding stock options and warrants issued by the Company. Income taxes Income tax on the loss for the periods presented comprises current and deferred tax. Income tax is recognized in the loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Income tax provisions are recognized when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, a provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This requires the application of judgment as to the ultimate outcome, which can change over time depending on facts and circumstances. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognized in income in the period in which the change occurs. Deferred tax assets or liabilities arising from temporary differences between the tax and accounting values of assets and liabilities, are recorded based on tax rates expected to be enacted when these differences are reversed. Deferred tax assets are recognized only to the extent it is considered probable that those assets will be recovered. This involves an assessment of when those deferred tax assets are likely to be realized, and a judgment as to whether or not there will be sufficient taxable profits available to offset the tax assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in respect of deferred tax assets as well as in the amounts recognized in income in the period in which the change occurs. Tax provisions are based on enacted or substantively enacted laws. Changes in those laws could affect amounts recognized in income both in the period of change, which would include any impact on cumulative provisions, and in future periods. Comparative figures Certain comparative figures have been reclassified to conform to the current year's presentation. |
4. MARKETABLE SECURITIES
4. MARKETABLE SECURITIES | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
4. MARKETABLE SECURITIES | 4. MARKETABLE SECURITIES On February 3, 2022, the Company received 1,000,000 shares of Volt Lithium Corp. (formerly known as Allied Copper Corp.) (“Volt” or “Allied”) valued at $225,000 pursuant to an option agreement entered into in 2021 for the Klondike property (Note 5(c)(ii)). On September 8, 2022, the Company received 250,000 Allied shares valued at $42,500 pursuant to an option agreement entered into in 2022 for the Stateline property (Note 5(c)(iii)). On August 8, 2022, the Company paid the finders for the Klondike property by transferring 94,293 Allied shares at a value of $20,800 (US$16,000) with a loss on the transfer of Allied shares of $416 recognized. During the year ended September 30, 2023, the remaining 1,155,707 Allied shares were sold for proceeds of $216,232, with the Company realizing a $30,052 loss on disposal. On March 29, 2023, the Company received 75,000 shares of Highlander Silver Corp. (“Highlander”) valued at $12,000 pursuant to a data purchase agreement (Note 5(d)(vii)). The shares are measured and presented at fair value using the observable market share price as at the dates of the statements of financial position. The gain or loss as a result of the re-measurement is recorded in profit and loss. September 30, 2023 Number of Shares Cost Fair Value Highlander Silver Corp. 75,000 $ 12,000 $ 4,500 Subsequently in October 2023, Highlander completed a share consolidation on a two pre-consolidation common shares for one new common share basis and the Company currently holds 37,500 Highlander shares. September 30, 2022 Number of Shares Cost Fair Value Allied Copper Corp. 1,155,707 $ 246,284 $ 161,799 September 30, 2023 September 30, 2022 Net changes in fair value of marketable securities through profit and loss Beginning of the period $ 161,799 $ - Shares received 12,000 267,500 Shares transferred - (21,216) Shares sold (246,284) - Change in unrealized gain (loss) 76,985 (84,485) Value at September 30, 2023 and 2022 $ 4,500 $ 161,799 |
5. EXPLORATION AND EVALUATION A
5. EXPLORATION AND EVALUATION ASSETS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
5. EXPLORATION AND EVALUATION ASSETS | 5. EXPLORATION AND EVALUATION ASSETS The Company typically obtains its mineral exploration rights by way of direct acquisition from government regulatory authorities, outright purchases from third parties, or by entering into option agreements to acquire such rights subject to future consideration, often inclusive of requirements to complete exploration work on such properties. Such costs, when subsequently incurred by the Company, are also capitalized as non-current assets and included within the Exploration and Evaluation category. The Company will, and has, also subsequently entered into arrangements with other parties to vend certain of these interests utilizing similar mechanisms, based on management’s assessment of what is advantageous to the Company. Although the Company has taken steps to verify title to its unproven mineral right interests, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects. The Company’s major mineral property interests are its Haldane and Tim silver properties located in the Yukon Territory of Canada while it also has other mineral property interests in North and South America. Following are summary tables of exploration and evaluation assets and brief summary descriptions of each of the exploration and evaluation assets: Exploration and Evaluation Assets for the year ended September 30, 2023 Haldane Tim Others Dropped Total Balance at September 30, 2022 $ 4,963,946 $ (49,949) $ 1,763,858 $ 347,660 $ 7,025,515 Additions during the year Acquisition costs: Claim staking - - 5,799 - 5,799 Property acquisition - - 13,520 - 13,520 - - 19,319 - 19,319 Exploration expenditures: Camp, travel and meals 14,293 - 19,786 - 34,079 Drilling - - 20,926 - 20,926 Field equipment rental - - 7,009 - 7,009 Field supplies and maps 297 - 146 - 443 Geochemical 4,868 - 11,782 - 16,650 Geological consulting 65,517 5,791 36,046 - 107,354 Licence and permits - - 46,139 - 46,139 Management fees - - 15,642 12,939 28,581 Permitting - 12,000 64,545 1,023 77,568 Reclamation - - 717 - 717 Reporting, drafting, sampling and analysis - - 304 - 304 Trenching - - 270 - 270 84,975 17,791 223,312 13,962 340,040 Less: Option payment received - - (44,897) - (44,897) Proceeds received in excess of exploration and evaluation asset costs – recognized as income - 82,158 50,850 - 133,008 Recovered exploration expenditures - (50,000) (171,825) (18,546) (240,371) Write-down of properties - - - (338,943) (338,943) Net additions 84,975 49,949 76,759 (343,527) (131,844) Foreign currency translation - (7,893) (4,133) (12,026) Balance at September 30, 2023 $ 5,048,921 $ - $ 1,832,724 $ - $ 6,881,645 Exploration and Evaluation Assets for the year ended September 30, 2022 Haldane Tim Others Dropped / Disposed Total Balance at September 30, 2021 $ 4,648,181 $ (9,949) $ 2,048,745 $ 1,021,402 $ 7,708,379 Additions during the year Acquisition costs: Claim staking - - 880 - 880 Property acquisition - - 91,837 - 91,837 - - 92,717 - 92,717 Exploration expenditures: Aircraft charter 1,066 - - - 1,066 Camp, travel and meals 30,005 - 51,703 - 81,708 Drilling 55,332 - 591,169 - 646,501 Field equipment rental 11,731 - 27,769 - 39,500 Field supplies and maps 786 - 7,566 - 8,352 Geochemical - - 1,942 - 1,942 Geological consulting 179,177 - 116,575 4,206 299,958 Legal and accounting - - 11,662 - 11,662 Licence and permits - - 59,257 - 59,257 Management fees - - 19,875 - 19,875 Permitting 13,823 - 122,796 2,500 139,119 Reclamation - - 10,525 - 10,525 Reporting, drafting, sampling and analysis 23,845 - 13,431 - 37,276 Trenching - - 87,008 - 87,008 315,765 - 1,121,278 6,706 1,443,749 Less: Option payment received - - (412,500) - (412,500) Proceeds received in excess of exploration and evaluation asset costs – recognized as income - - 341,966 - 341,966 Recovered exploration expenditures - (40,000) (1,117,966) - (1,157,966) Write-down of properties - - - (1,038,046) (1,038,046) Net additions 315,765 (40,000) 25,495 (1,031,340) (730,080) Foreign currency translation - - 37,278 9,938 47,216 Balance at September 30, 2022 $ 4,963,946 $ (49,949) $ 2,111,518 $ - $ 7,025,515 (a) Haldane On March 2, 2018, the Haldane property was purchased from Equity Exploration Consultants Ltd. (“Equity”), and is located in Yukon Territory, Canada. Equity has a 2% NSR royalty on the Haldane property and is entitled to receiving bonus share payments from the Company: o o On April 12, 2018, the Company purchased the Nur, Clarkston and Fara claims which are contiguous to and grouped with the Haldane property from the estate of Yukon prospector John Peter Ross (the “Estate”). The Estate is entitled to receiving bonus share payments from the Company: o o As of September 30, 2023, the Company had spent $5,048,921 (September 30, 2022 - $4,963,946) on advancing this property, including the acquisition costs. (b) Tim On January 24, 2020, subsequently amended on December 5, 2023, the Company entered into an option agreement with a subsidiary of Coeur Mining Inc. (“Coeur”) for Coeur to acquire the Company’s wholly-owned Tim property located in southern Yukon. Coeur can earn an initial 51% interest in the Tim property by completing item numbers 1 to 7 per the table below: Date/Period Expenditures Option Payment 1 On the Effective Date None $10,000 (received) 2 On or before 1 st $50,000 (completed) $15,000 (received) 3 On or before 2 nd - $25,000 (received) 4 By December 31, 2023 - $50,000 (received) 5 By December 31, 2024 $700,000 $75,000 6 By December 31, 2025 $1,100,000 $100,000 7 By December 31, 2026 $1,353,073 $100,000 8 By December 31, 2027 - $100,000 9 On or before the 8 th - $100,000 (*) Class 1 Notification Date is December 16, 2020. As further consideration for the agreed upon amendments, Coeur agreed to make a one-time payment of $50,000 to the Company on or before December 31, 2023 (received January 4, 2024). After earning an initial 51% interest in the property, to increase its interest to 80%, Coeur must finance a feasibility study and notify the Company of its intention to develop a commercial mine on the property on or before the eighth anniversary from the date of notification of the Class 1 exploration permit, as well as completing item numbers 8 and 9 per the table above. (c) Others i . Twin Canyon (Colorado) On June 17, 2020, the Company acquired a lease of the Twin Canyon gold property in southwest Colorado from Myron Goldstein and Jon Thorson (“Goldstein and Thorson”). Goldstein and Thorson are entitled to receiving further share payments from the Company under the following terms: · · The Company agreed to assume the terms of Goldstein and Thorson’s commitments under the lease, namely the annual lease payments of US$15,000 for ten years, with the right to extend the lease for two additional terms of ten years each. The original property owner has a 1.5% NSR on the property, two-thirds (1%) of which is purchasable at any time for US$1,000,000. If annual NSR payments exceed US$20,000 in a given year, the Company will not have to make the annual US$15,000 lease payment for that year. As of September 30, 2023, the Company had spent $681,817 (September 30, 2022 - $651,660) on advancing this property, including acquisition costs. ii. Klondike (Colorado) The Company acquired the Klondike property by staking a 100% interest in this property in Colorado. On June 7, 2021, the Company and Cloudbreak Discovery PLC (“Cloudbreak”) entered into an agreement whereby either company can introduce projects to a Strategic Alliance. Projects accepted into the Strategic Alliance will be held 50/50 as to beneficial ownership but funding of the initial acquisition and any preliminary work programs will be funded 40% by the introducing partner and 60% by the other party. The initial term of the Strategic Alliance is two years and may be extended for an additional two years. The Strategic Alliance is not a separate legal entity of any kind and represents a cost-sharing arrangement only. The Company and Cloudbreak agreed to accept the Klondike property as part of the Strategic Alliance. During the year ended September 30, 2023, Cloudbreak was invoiced $nil (US$nil) (2022 - $12,168 [US$9,443]) for reimbursements related to the Klondike property pertaining to the Strategic Alliance. On December 3, 2021, as amended February 1, 2022, the Company and Cloudbreak entered into an option agreement, pursuant to which it granted Volt an option to earn a 100% interest in the Klondike property. The Company and Cloudbreak are to each receive 50% of the option payments. Volt could earn a 100% interest in the Klondike property by (i) incurring $4.75 million in exploration expenditures on the property over four years, with expenditure shortfalls able to be paid in cash to the Company and Cloudbreak, (ii) issuing 7 million common shares over two years, (iii) making cash payments totaling $400,000 over four years and (iv) issuing 3,000,000 warrants exercisable for a three-year term at a price equal to the greater of (i) $0.23 and (ii) the 10-day VWAP of Volt’s common shares at the time of the issuance, as follows: Date/Period Expenditures Option Payment Cash Shares Warrants On the Effective Date None $50,000 (Company’s portion of $25,000 received) None None On the Closing Date (February 3, 2022) None $150,000 (Company’s portion of $75,000 received) 2,000,000 (Company’s portion of 1,000,000 shares received) None On or before 1 st $500,000 None 2,000,000 None On or before 2 nd $750,000 None 3,000,000 None On or before 3 rd $1,500,000 $100,000 None 3,000,000 On or before 4 th $2,000,000 $100,000 None None ii. Klondike (Colorado) On February 2, 2023, Volt terminated the option agreement and the Company and Cloudbreak now retain a 100% interest in this property. The Company and Cloudbreak did not mutually agree to extend the Strategic Alliance agreement and the agreement terminated in June 2023. As at September 30, 2023, Volt had forwarded a total of $1,255,215 (US$915,747) for reimbursements related to the Klondike property and the Company held $nil (US$nil) (September 30, 2022 - $226,663 [US$165,364]) of restricted cash on behalf of Volt to be spent on the Klondike property, which is recorded as restricted cash. iii. Stateline (Colorado and Utah) The Company acquired the Stateline property by staking a 100% interest in this property in Colorado and Utah. The Company and Cloudbreak agreed to accept the Stateline property as part of the Strategic Alliance. During the year ended September 30, 2023, Cloudbreak was invoiced $nil (US$nil) (2022 - $20,244 [US$14,769]) for reimbursements related to the Stateline property pertaining to the Strategic Alliance. On February 9, 2022, the Company and Cloudbreak entered into an option agreement with Volt to explore the Stateline property with the following terms where the Company and Cloudbreak will each receive 50% of the option payments: Volt could earn a 100% interest in the Stateline property by (i) incurring $3.75-million in exploration expenditures on the property over four years, with expenditure shortfalls able to be paid in cash to the Company and Cloudbreak, (ii) issuing 4.25 million common shares and (iii) making cash payments totaling $315,000 over three years, as follows. Date/Period Expenditures Option Payment Cash Shares On the Effective Date None $40,000 (Company’s portion of $20,000 received) None On the Closing Date (September 8, 2022) None $50,000 (Company’s portion of $25,000 received) 500,000 (Company’s portion of 250,000 shares received) On or before 1 st $500,000 $50,000 750,000 On or before 2 nd $750,000 $75,000 1,500,000 On or before 3 rd $1,000,000 $100,000 1,500,000 On or before 4 th $1,500,000 None None The Company and Cloudbreak did not mutually agree to extend the Strategic Alliance agreement and the agreement terminated in June 2023. On August 11, 2023, Volt terminated the option agreement and the Company now retains a 100% interest in this property. As of September 30, 2023, Volt had forwarded a total of $100,079 (US$74,023) for reimbursements related to the Stateline property. The Company held $nil (US$nil) (September 30, 2022 - $7,418 [US$5,412]) of restricted cash on behalf of Volt to be spent on the Stateline property, which is recorded as restricted cash. iv. Ashby (Nevada) On January 27, 2015, the Company signed a binding agreement to acquire the Ashby gold property from Sandstorm Gold Ltd. (“Sandstorm”) for 3,750 Company common shares valued at $7,500 and granted Sandstorm a right of first refusal on any future metal streaming agreements. On August 2, 2017, the Company signed an exploration lease agreement to lease the Ashby property to Nevada Canyon Gold Corp. (“Nevada Canyon”). Under the terms of the agreement, Nevada Canyon made a US$1,000 payment on signing, will make annual payments of US$2,000 and will grant a 2% Net Smelter Royalty (“NSR”) on future production from the Lazy 1-3 claims comprising the Ashby property. Nevada Canyon will also be responsible for all claim fees and certain reclamation work to be undertaken on the property. The initial term of the lease is 10 years and can be extended for an additional 20 years. A 2% NSR is payable to Nevada Eagle Resources LLC (“NER”) and a 1% NSR is payable to Sandstorm on production from the property. During the year ended September 30, 2023, Nevada Canyon reimbursed the Company $3,438 (2022 - $3,304) which includes US$543 (2022 - US$543) for the 2023 annual property claim fee and US$2,000 (2022 – US$2,000) for the 2023 annual payment. v. White River, Goz Creek and MOR (Yukon) In 2010, the Company acquired the White River property through staking. The White River property is located in the Yukon Territory, northwest of Whitehorse. On July 23, 2007, the Company purchased from Almaden certain properties in the Yukon and Almaden assigned the 2% NSR royalty on future production from these mineral claims to Almadex: · · As of September 30, 2023, the Company had spent $1,129,142 (September 30, 2022 - 1,071,213) on advancing these properties, net of recoveries. v. Mexico The Company holds a 1% Net Smelter Royalty, capped at $1,000,000, on certain Mexican properties. vi. Peru The Company holds a 1.08% Net Smelter Royalty on the Pucarana project in central Peru. (d) Dropped / disposed properties i. BP (Nevada) On June 10, 2013, the Company purchased from Almaden Minerals Ltd. (“Almaden”) the BP property in Nevada, USA for 8,000 Company common shares valued at $22,000. A 2% NSR is payable to Almadex Minerals Limited (“Almadex”) on future production on the property after Almaden transferred the NSR right to Almadex. In 2017, the Company acquired new ground by staking additional BLM Iode mining claims at the BP property. During the year ended September 30, 2023, the Company sold the BP property to Almadex with Almadex reimbursing the Company the property fees paid in fiscal 2023. The Company wrote off the remaining $307,548 of capitalized exploration and evaluation costs. ii. Horsethief (Nevada) On January 27, 2015, the Company acquired the Horsethief property from Sandstorm for 3,750 Company common shares valued at $7,500. The Company also acquired further claims via staking during the year ended September 30, 2017 for $8,867. During the year ended September 30, 2022, the Company dropped the Horsethief property and wrote off $146,089 of capitalized exploration and evaluation costs. iii. Bellview (Nevada) On January 27, 2015, the Company acquired the Bellview property from Sandstorm for 3,750 Company common shares valued at $7,500 and holding costs totaling $6,036. During the year ended September 30, 2022, the Company dropped the Bellview property and wrote off $110,687 of capitalized exploration and evaluation costs. iv. East Walker (Nevada) On January 27, 2015, the Company acquired the East Walker property from Sandstorm for 3,750 Company common shares valued at $7,500. The East Walker property is located in Lyon County, west of Hawthorne. A 2% NSR is payable to NER from production from some claims on the property and a 1% NSR is payable to Sandstorm from all the claims on the property. During the year ended September 30, 2023, the Company dropped the East Walker property and wrote off $31,395 of capitalized exploration and evaluation costs. v. KRL (British Columbia) On September 1, 2018, the Company optioned the KRL property in British Columbia’s prolific Golden Triangle from prospector Bernie Kreft (“Kreft”), completing $150,000 in cash payments and issuing 120,000 Company common shares valued at $54,500 over four years. During the year ended September 30, 2022, the Company dropped the KRL property option and wrote off $336,975 of capitalized exploration and evaluation costs. vi. Yanac (Peru) On April 29, 2015, the Company acquired the Yanac property which is located in Chincha region of the Department of Ica, south-central Peru for $476,397 consideration allocated to the property pursuant to a Plan of Arrangement where the Company acquired Alianza Holdings Ltd. by issuing 9,330,061 Company common shares at a value of $0.125 per share. During the year ended September 30, 2022, the Company dropped Yanac property and wrote off $444,295 of capitalized exploration and evaluation costs. A further $114,319 of costs were previously written off during the year ended September 30, 2017. vii. La Estrella (Peru) On March 23, 2023, the Company sold its project data associated with the La Estrella project in Peru to Highlander in consideration for the payment of $15,000 (received) and the issuance of 75,000 common shares of Highlander (received and valued at $12,000) (Note 4). Given that the property was already written off, the Company recorded the amount as other income. |
6. DEPOSITS
6. DEPOSITS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
6. DEPOSITS | 6. DEPOSITS As of September 30, 2023, the Company has a US$60,218 ($81,415) performance bond with the State of Colorado Board of Land Commissioners and Colorado Division of Reclamation, Mining and Safety for the Klondike property and Twin Canyon property (September 30, 2022 – US$58,218 ($79,799) and a $Nil reclamation bond with the Ministry of Energy, Mines and Low Carbon Innovation for the KRL property (September 30, 2022 - $14,921). |
7. SHARE CAPITAL
7. SHARE CAPITAL | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
7. SHARE CAPITAL | 7. SHARE CAPITAL a) As at September 30, 2023, the authorized share capital is comprised of an unlimited number of common shares without par value and an unlimited number of preferred shares issuable in series. All issued shares are fully paid. b) On August 14, 2023, the Company effected a consolidation of its issued share capital on a five pre-consolidation common shares for one new common share basis. All references to the number of shares and per share amounts have been retroactively restated to reflect the consolidation. c) During the year ended September 30, 2021, the Company: i) ii) iii) iv) v) During the year ended September 30, 2022, the Company: vi) During the year ended September 30, 2023, the Company: vii) d) In September 2023, the Company received $85,000 for a non-brokered private placement completed in October 2023 (Note 16). |
8. STOCK OPTIONS AND WARRANTS
8. STOCK OPTIONS AND WARRANTS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
8. STOCK OPTIONS AND WARRANTS | 8. STOCK OPTIONS AND WARRANTS a) The Company grants stock options to directors, officers, employees and consultants pursuant to the Company’s Stock Option Plan (the “Plan”). The number of options that may be issued pursuant to the Plan are limited to 10% of the Company’s issued and outstanding common shares and to other restrictions with respect to any single participant (not greater than 5% of the issued common shares) or any one consultant (not greater than 2% of the issued common shares). Options granted to consultants performing investor relations activities will contain vesting provisions such that vesting occurs over at least 12 months with no more than one quarter of the options vesting in any 3-month period. Vesting provisions may also be applied to other option grants, at the discretion of the directors. Options issued pursuant to the Plan will have an exercise price as determined by the directors, and permitted by the TSX-V, at the time of the grant. Options have a maximum expiry date of 5 years from the grant date. On August 14, 2023, the Company’s stock options were consolidated on a 5 for 1 basis and the exercise prices were reflected as such (Note 7(b)). Stock option transactions and the number of stock options for the year ended September 30, 2023 are summarized as follows: Expiry date Exercise price September 30, 2022 Granted Exercised Expired / cancelled September 30, March 14, 2023 $0.50 168,000 - - (168,000) - July 30, 2024 $0.50 345,000 - - - 345,000 October 15, 2025 $0.70 401,000 - - - 401,000 January 18, 2027 $0.50 1,160,000 - - - 1,160,000 March 17, 2027 $0.50 100,000 - - - 100,000 Options outstanding 2,174,000 - - (168,000) 2,006,000 Options exercisable 2,174,000 - - (168,000) 2,006,000 Weighted average exercise price $0.54 $Nil $Nil $0.50 $0.54 As at September 30, 2023, the weighted average contractual remaining life of options is 2.64 years (September 30, 2022 – 3.39 years; September 30, 2021 – 3.11 years). The weighted average fair value of stock options granted during the year ended September 30, 2023 was $Nil (2022 - $0.30; 2021 - $0.50). Stock option transactions and the number of stock options for the year ended September 30, 2022 are summarized as follows: Expiry date Exercise price September 30, 2021 Granted Exercised Expired / cancelled September 30, March 14, 2023 $0.50 168,000 - - - 168,000 July 30, 2024 $0.50 345,000 - - - 345,000 October 15, 2025 $0.70 401,000 - - - 401,000 January 18, 2027 $0.50 - 1,160,000 - - 1,160,000 March 17, 2027 $0.50 - 100,000 - - 100,000 Options outstanding 914,000 1,260,000 - - 2,174,000 Options exercisable 4,570,000 1,260,000 - - 2,174,000 Weighted average exercise price $0.59 $0.50 $Nil $Nil $0.54 Stock option transactions and the number of stock options for the year ended September 30, 2021 are summarized as follows: Expiry date Exercise price September 30, 2020 Granted Exercised Expired / cancelled September 30, April 26, 2021 $1.25 20,000 - - (20,000) - September 30, 2021 $0.75 249,000 - - (249,000) - March 14, 2023 $0.50 168,000 - - - 168,000 July 30, 2024 $0.50 345,000 - - - 345,000 October 15, 2025 $0.70 - 401,000 - - 401,000 Options outstanding 782,000 401,000 - (269,000) 914,000 Options exercisable 782,000 401,000 - (269,000) 914,000 Weighted average exercise price $0.60 $0.70 $Nil $0.79 $0.59 The weighted average assumptions used to estimate the fair value of options for the years ended September 30, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Risk-free interest rate n/a 1.32% - 1.34% 1.29% Expected life n/a 5 years 5 years Expected volatility n/a 104.30% - 104.41% 101.56% Expected dividend yield n/a nil nil b) On August 14, 2023, the Company’s warrants were consolidated on a 5 for 1 basis and the warrant quantities and exercise prices are reflected as such (Note 7(b)). The continuity of warrants for the year ended September 30, 2023 is as follows: Expiry date Exercise price September 30, 2022 Issued Exercised Expired September 30, October 9, 2022 $1.00 767,037 - - (767,037) - March 15, 2023 (a) $0.25 3,820,000 - (87,860) (3,732,140) - May 19, 2025 $0.625 1,000,000 - - - 1,000,000 March 15, 2025 (b) $0.50 - 87,860 - - 87,860 Outstanding 5,587,037 87,860 (87,860) (4,499,177) 1,087,860 Weighted average exercise price $0.59 $0.50 $0.25 $0.38 $0.61 (a) (b) As at September 30, 2023, the weighted average contractual remaining life of warrants is 1.62 years (September 30, 2022 – 0.75 years; September 30, 2021 – 1.15 years). The continuity of warrants for the year ended September 30, 2022 is as follows: Expiry date Exercise price September 30, 2021 Issued Exercised Expired September 30, July 9, 2022 $0.50 2,270,000 - - (2,270,000) - October 9, 2022 $1.00 767,037 - - - 767,037 February 25, 2023 $0.50 3,820,000 - - - 3,820,000 May 19, 2025 $0.625 - 1,000,000 - - 1,000,000 Outstanding 6,857,037 1,000,000 - (2,270,000) 5,587,037 Weighted average exercise price $0.56 $0.625 $Nil $0.50 $0.59 The continuity of warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, December 24, 2020 $0.50 880,000 - (660,000) (220,000) - July 9, 2022 $0.50 2,520,000 - (250,000) - 2,270,000 February 25, 2023 $0.50 4,158,000 - (338,000) - 3,820,000 October 9, 2022 $1.00 - 767,037 - - 767,037 Outstanding 7,558,000 767,037 (1,248,000) (220,000) 6,857,037 Weighted average exercise price $0.50 $1.00 $0.50 $0.50 $0.56 c) On August 14, 2023, the Company’s finder’s warrants were consolidated on a 5 for 1 basis and the finder’s warrant quantities and exercise prices are reflected as such (Note 7(b)). The continuity of finder’s warrants for the year ended September 30, 2023 is as follows: Expiry date Exercise price September 30, 2022 Issued Exercised Expired September 30, 2023 October 9, 2022 $0.675 267,807 - - (267,807) - June 14, 2023 $0.60 133,117 - - (133,117) - Outstanding 400,924 - - (400,924) - Weighted average exercise price $0.65 $Nil $Nil $0.65 $Nil As at September 30, 2023, the weighted average contractual remaining life of finder’s warrants is Nil years (September 30, 2022 – 0.25 years; September 30, 2021 – 1.25 years). The continuity of finder’s warrants for the year ended September 30, 2022 is as follows: Expiry date Exercise price September 30, 2021 Issued Exercised Expired September 30, 2022 October 9, 2022 $0.675 267,807 - - - 267,807 June 14, 2023 $0.60 133,117 - - - 133,117 Outstanding 400,924 - - - 400,924 Weighted average exercise price $0.65 $Nil $Nil $Nil $0.65 The continuity of finder’s warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, 2021 February 25, 2021 $0.25 161,220 - (11,220) (150,000) - October 9, 2022 $0.675 - 267,807 - - 267,807 June 14, 2023 $0.60 - 133,117 - - 133,117 Outstanding 161,220 400,924 (11,220) (150,000) 400,924 Weighted average exercise price $0.25 $0.65 $0.25 $0.25 $0.65 The weighted average assumptions used to estimate the fair value of finder’s warrants for the years ended September 30, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Risk-free interest rate n/a n/a 1.09% Expected life n/a n/a 2 years Expected volatility n/a n/a 120.96% Expected dividend yield n/a n/a nil |
9. RELATED PARTY TRANSACTIONS
9. RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
9. RELATED PARTY TRANSACTIONS | 9. RELATED PARTY TRANSACTIONS The aggregate value of transactions and outstanding balances relating to key management personnel and entities over which they have control or significant influence were as follows: For the year ended September 30, 2023 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ Nil $ 162,000 Rob Duncan VP of Exploration $ 150,000 $ Nil $ Nil $ Nil $ Nil $ 150,000 For the year ended September 30, 2022 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ 59,000 $ 221,000 Rob Duncan VP of Exploration $ 150,000 $ Nil $ Nil $ Nil $ 44,250 $ 194,250 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 44,250 $ 44,250 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 14,750 $ 14,750 Sven Gollan Director $ Nil $ Nil $ Nil $ Nil $ 23,100 $ 23,100 For the year ended September 30, 2021 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ 30,270 $ 192,270 Rob Duncan VP of Exploration $ 145,625 $ Nil $ Nil $ Nil $ 30,270 $ 175,895 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 30,270 $ 30,270 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Related party transactions and balances Years ended Balance due Services September 30, 2023 September 30, 2022 As at September 30, 2023 As at September 30, 2022 Amounts due to: Jason Weber Consulting fee and share-based payment $ 162,000 $ 221,000 $ 56,700 $ Nil Rob Duncan Consulting fee and share-based payment $ 150,000 $ 194,250 $ 49,679 $ Nil Pacific Opportunity Capital Ltd. (a) Accounting, financing and shareholder communication services $ 158,000 $ 201,500 $ 527,644 (b) $ 379,717 (b) Mark Brown Expenses reimbursement $ 9,546 $ 19,250 $ 3,082 $ 5,857 TOTAL: $ 479,546 $ 636,000 $ 637,105 $ 385,574 (a) (b) |
10. SUPPLEMENTAL DISCLOSURE WIT
10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | 10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS The significant non-cash investing and financing transactions during the year ended September 30, 2023 were as follows: · · · The significant non-cash investing and financing transactions during the year ended September 30, 2022 were as follows: · · · · The significant non-cash investing and financing transactions during the year ended September 30, 2021 were as follows: · · · · · |
11. SEGMENTED INFORMATION
11. SEGMENTED INFORMATION | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
11. SEGMENTED INFORMATION | 11. SEGMENTED INFORMATION The Company has one reportable operating segment, that being the acquisition and exploration of mineral properties. Geographical information is as follows: September 30, 2023 September 30, 2022 Non-current assets USA $ 784,997 $ 1,070,155 Peru - 41,186 Canada 6,178,063 6,050,080 $ 6,963,060 $ 7,161,421 |
12. INCOME TAXES
12. INCOME TAXES | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
12. INCOME TAXES | 12. INCOME TAXES A reconciliation of income taxes at statutory rates with the reported taxes is as follows: 2023 2022 Loss before income taxes $ (795,040) $ (2,051,990) Expected income tax recovery $ (216,000) $ (571,000) Permanent differences 7,000 91,000 Share issue costs (35,000) (38,000) Change in unrecognized deductible temporary differences 244,000 518,000 Total deferred income tax (recovery) expense $ - $ - The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: 2023 Expiry Date Range 2022 Expiry Date Range Temporary Differences $ $ Exploration and evaluation assets (912,000) No expiry date (1,347,000) No expiry date Property and equipment 14,000 No expiry date 14,000 No expiry date Share issue costs 167,000 2024 to 2027 297,000 2023 to 2026 Allowable capital losses 3,793,000 No expiry date 3,762,000 No expiry date Non-capital losses available for future periods 19,550,000 2027 to 2043 19,521,000 2026 to 2042 Expenditures related to the use of flow-through share proceeds are included in exploration costs but are not available as a tax deduction to the Company as the tax benefits of these expenditures are renounced to the investors. At September 30, 2023, the Company has an obligation for future flow-through expenditures of $Nil (2022: $50,654). Tax attributes are subject to review, and potential adjustment, by tax authorities. |
13. FINANCIAL INSTRUMENTS
13. FINANCIAL INSTRUMENTS | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
13. FINANCIAL INSTRUMENTS | 13. FINANCIAL INSTRUMENTS The Company’s financial instruments are exposed to certain financial risks, including currency risk, credit risk, liquidity risk, market risk and commodity price risk. (a) The Company’s property interests in USA make it subject to foreign currency fluctuations and inflationary pressures which may adversely affect the Company’s financial position, results of operations and cash flows. The Company is affected by changes in exchange rates between the Canadian Dollar and foreign functional currencies. The Company does not invest in foreign currency contracts to mitigate the risks. The Company’s exploration program, some of its general and administrative expenses and financial instruments denoted in a foreign currency are exposed to currency risk. A 10% change in the US dollar and the Peruvian nuevo sol over the Canadian dollar would change the results of operations by approximately $7,800. (b) Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company’s credit risk is primarily attributable to the liquidity of its cash. The Company limits exposure to credit risk by maintaining its cash with a large Canadian financial institution. (c) Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company ensures there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and the Company’s holdings of cash. The Company does not have sufficient cash to settle its current liabilities, and further funding will be required to meet the Company’s short-term and long-term operating needs. The Company manages liquidity risk through the management of its capital structure. Accounts payable and accrued liabilities are due within the current operating period. (d) Market risks to which the Company is exposed include unfavorable movements in commodity prices, interest rates, and foreign exchange rates. As at September 30, 2023, the Company has no producing assets and holds the majority of its cash in secure, Canadian dollar-denominated deposits. Consequently, its exposure to these risks has been significantly reduced, but as the Company redeploys its cash, exposure to these risks may increase. The objective of the Company is to mitigate exposure to these risks while maximizing returns. The Company owns available-for-sale marketable securities in the mineral resource sector. Changes in the future pricing and demand of commodities can have a material impact on the market value of the investments. The nature of such investments is normally dependent on the invested company being able to raise additional capital to further develop and to determine the commercial viability of its resource properties. Management mitigates the risk of loss resulting from this concentration by monitoring the trading value of the investments on a regular basis. i) As at September 30, 2023, the Company’s exposure to movements in interest rates was limited to potential decreases in interest income from changes to the variable portion of interest rates for its cash. Market interest rates in Canada are at historically low levels, so management does not consider the risk of interest rate declines to be significant, but should such risks increase, the Company may mitigate future exposure by entering into fixed-rate deposits. A 1% change in the interest rate, with other variables unchanged, would not significantly affect the Company. (d) i) The Company is exposed to the financial risk related to the fluctuation of foreign exchange rates. The Company may maintain cash and other financial instruments, or may incur revenues and expenditures in currencies other than the Canadian dollar. Significant changes in the currency exchange rates between the Canadian dollar relative to these foreign currencies, which may include but are not limited to US dollars and Peruvian nuevo sol, could have an effect on the Company’s results of operations, financial position or cash flows. The Company has not hedged its exposure to currency fluctuations. (e) The ability of the Company to develop its mineral properties and the future profitability of the Company are directly related to the market price of minerals such as gold, zinc, lead and copper. The Company’s input costs are also affected by the price of fuel. The Company closely monitors mineral and fuel prices to determine the appropriate course of action to be taken by the Company. IFRS 7 establishes a fair value hierarchy that prioritizes the input to valuation techniques used to measure fair value as follows: Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs). The following table sets forth the Company’s financial assets measured at amortized cost by level within the fair value hierarchy. As at September 30, 2023 Level 1 Level 2 Level 3 Total Assets: Cash $ 135,203 $ - $ - $ 135,203 As at September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Cash $ 403,093 $ - $ - $ 403,093 Restricted cash 234,081 - - 234,081 |
14. MANAGEMENT OF CAPITAL RISK
14. MANAGEMENT OF CAPITAL RISK | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
14. MANAGEMENT OF CAPITAL RISK | 14. MANAGEMENT OF CAPITAL RISK The Company considers items included in shareholders’ equity as capital. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the development of its mineral properties and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares, issue new debt, acquire or dispose of assets or adjust the amount of cash and cash equivalents. In order to facilitate the management of its capital requirements, the Company prepares expenditure budgets that are updated as necessary depending on various factors, including successful capital deployment and general industry conditions. In order to maximize ongoing development efforts, the Company does not pay out dividends. The Company’s approach to managing capital remains unchanged from the year ended September 30, 2022. |
15. CONTINGENT LIABILITIES
15. CONTINGENT LIABILITIES | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
15. CONTINGENT LIABILITIES | 15. CONTINGENT LIABILITIES As a result of the administrative practices with respect to mining taxation in Mexico, there can be significant uncertainty, in regards to when, or if, taxes are payable and the amount that may ultimately be payable. As at September 30, 2015, Mexican claim taxes totalling approximately $766,000 had been levied. Of this amount, $563,000 ($193,000 for 2014 and $370,000 for 2015) related to properties that were held by Minera Tarsis, S.A. de C.V., which the Company had applied to wind up, and $203,000 ($63,000 for 2014 and $140,000 for 2015) related to properties being acquired. On February 16, 2016, the Company sold all its Mexican properties, Yago, Mezquites and San Pedro, to Almadex, and reduced the claim taxes to $173,783. These taxes will never be paid in full and any amount that will, or might, be payable cannot realistically be determined at this time. Accordingly, these taxes have been disclosed as a contingent liability, and not recognized as a liability or provision. |
16. EVENT AFTER THE REPORTING P
16. EVENT AFTER THE REPORTING PERIOD | 12 Months Ended |
Sep. 30, 2023 | |
Notes | |
16. EVENT AFTER THE REPORTING PERIOD | 16. EVENT AFTER THE REPORTING PERIOD The Company completed a non-brokered private placement in two tranches closing October 19, 2023 and December 28, 2023 by issuing 2,700,000 non-flow-through units (“Unit”) at a price of $0.20 per Unit for gross proceeds of $540,000 and 2,300,000 flow-through shares (“FT Share”) at a price of $0.20 per FT Share for gross proceeds of $460,000. Each Unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a 36-month period at a price of $0.30. In connection with the financing, the Company paid $24,640 in cash finder’s fees and issued 123,200 finder’s warrants, each of which is exercisable into one common share at a price of $0.20 for a period of 36 months. |
2. BASIS OF PREPARATION_ Statem
2. BASIS OF PREPARATION: Statement of Compliance (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Statement of Compliance | Statement of Compliance These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). |
2. BASIS OF PREPARATION_ Basis
2. BASIS OF PREPARATION: Basis of preparation (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Basis of preparation | Basis of preparation These consolidated financial statements have been prepared on a historical cost basis. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are published at the time of preparation. |
2. BASIS OF PREPARATION_ New ac
2. BASIS OF PREPARATION: New accounting standards and interpretations (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
New accounting standards and interpretations | New accounting standards and interpretations Certain new accounting standards and interpretations have been published that are not mandatory for the September 30, 2023 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective: · An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position. |
3. SIGNIFICANT ACCOUNTING POL_2
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Basis of Presentation | Basis of Presentation The consolidated financial statements of the Company include the accounts of Alianza Minerals Ltd. and the following entities: Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company (1) All subsidiaries are entities that we control, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss. Certain of our business activities are conducted through associates (see below). |
3. SIGNIFICANT ACCOUNTING POL_3
3. SIGNIFICANT ACCOUNTING POLICIES: Interests in Joint Arrangements (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Interests in Joint Arrangements | Interests in Joint Arrangements A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement. Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements. |
3. SIGNIFICANT ACCOUNTING POL_4
3. SIGNIFICANT ACCOUNTING POLICIES: Investments in Associates and Joint Ventures (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Investments in Associates and Joint Ventures | Investments in Associates and Joint Ventures Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method. The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets such as dividends. The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture. If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized. At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture. |
3. SIGNIFICANT ACCOUNTING POL_5
3. SIGNIFICANT ACCOUNTING POLICIES: Foreign currencies (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Foreign currencies | Foreign currencies The functional and presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rate of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The Company has determined that the functional currency of its subsidiaries in Peru is the Peruvian nuevo sole and the functional currency of its subsidiaries in USA is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the foreign exchange reserve. |
3. SIGNIFICANT ACCOUNTING POL_6
3. SIGNIFICANT ACCOUNTING POLICIES: Exploration and evaluation (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Exploration and evaluation | Exploration and evaluation The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of its mineral claims and crediting all proceeds received against the cost of related claims. Such costs include, but are not exclusive to, geological, geophysical studies, exploratory drilling and sampling. At such time as commercial production commences, these costs will be charged to operations on a unit-of-production method based on proven and probable reserves. The aggregate costs related to abandoned mineral claims are charged to operations at the time of any abandonment or when it has been determined that there is evidence of a permanent impairment. An impairment charge relating to a mineral property is subsequently reversed when new exploration results or actual or potential proceeds on sale result in a revised estimate of the recoverable amount but only to the extent that this does not exceed the original carrying value of the property that would have resulted if no impairment had been recognized. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in income costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Upon transfer of “Exploration and evaluation costs” into “Mine development”, all subsequent expenditure on the construction, installation or completion of infrastructure facilities is capitalized within “Mine development”. After production starts, all assets included in “Mine development” are transferred to “Producing mines”. All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditures are not expected to be recovered, they are charged to operations. Exploration areas where reserves have been discovered, but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of reserves exist or to ensure that additional exploration work is underway as planned. |
3. SIGNIFICANT ACCOUNTING POL_7
3. SIGNIFICANT ACCOUNTING POLICIES: Decommissioning, restoration, and similar obligations (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Decommissioning, restoration, and similar obligations | Decommissioning, restoration, and similar obligations An obligation to incur restoration, rehabilitation and environmental costs arises when an environmental disturbance is caused by the exploration, development or ongoing production of a mineral property interest. Such costs arising for the decommissioning of plant and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying value of the asset, as soon as the obligation to incur such costs arises. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. These costs are charged against profit or loss over the economic life of the related asset, through amortization using either the unit-of-production or the straight-line method. The related liability is adjusted each period for the unwinding of the discount rate and for changes to the current market-based discount rate, amount or timing of the underlying cash flows needed to settle the obligation. Costs for restoration of subsequent site damage which is created on an ongoing basis during production are provided for at their net present values and charged against profits as extraction progresses. As at September 30, 2023, the Company has no material restoration, rehabilitation and environmental costs as the disturbance to date is minimal. |
3. SIGNIFICANT ACCOUNTING POL_8
3. SIGNIFICANT ACCOUNTING POLICIES: Financial instruments (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Financial instruments | Financial instruments The Company recognizes an allowance using the Expected Credit Loss (“ECL”) model on financial assets classified as amortized cost. The Company has elected to use the simplified approach for measuring ECL by using a lifetime expected loss allowance for all amounts recoverable. Under this model, impairment provisions are based on credit risk characteristics and days past due. When there is no reasonable expectation of collection, financial assets classified as amortized cost are written off. Indications of credit risk arise based on failure to pay and other factors. Should objective events occur after an impairment loss is recognized, a reversal of impairment is recognized in the statement of loss and comprehensive loss. We have assessed the classification and measurement of our financial assets and financial liabilities under IFRS 9 as follows: IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Marketable securities Fair value through profit and loss Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized in the consolidated statements of comprehensive income or loss. |
3. SIGNIFICANT ACCOUNTING POL_9
3. SIGNIFICANT ACCOUNTING POLICIES: Significant accounting judgments and estimates (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Significant accounting judgments and estimates | Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made, relate to, but are not limited to, the following: Critical judgments The following are critical judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements: · · · · |
3. SIGNIFICANT ACCOUNTING PO_10
3. SIGNIFICANT ACCOUNTING POLICIES: Impairment (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Impairment | Impairment At each financial position reporting date, the carrying amounts of the Company’s non-financial assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the statement of comprehensive loss for the period. For the purpose of impairment testing, exploration and evaluation assets are allocated to cash-generating units to which the exploration activity relates. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash generating unit to which the asset belongs. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in the statement of comprehensive loss. |
3. SIGNIFICANT ACCOUNTING PO_11
3. SIGNIFICANT ACCOUNTING POLICIES: Share-based payment transactions (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Share-based payment transactions | Share-based payment transactions The Company’s stock option plan allows the Company’s employees and consultants to acquire shares of the Company through the exercise of granted stock options. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in shareholders’ equity. An individual is classified as an employee when such individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee. The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Warrants with the right to acquire common shares in the Company are typically issued through the Company’s equity financing activities. Where finders’ warrants are issued on a stand-alone basis, their fair values are measured on their issuance date using the Black-Scholes option pricing model and are recorded as both an increase to reserves and as a share issue cost. When warrants are exercised, the cash proceeds along with the amount previously recorded in equity reserves are recorded as share capital. |
3. SIGNIFICANT ACCOUNTING PO_12
3. SIGNIFICANT ACCOUNTING POLICIES: Share capital (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Share capital | Share capital Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves. |
3. SIGNIFICANT ACCOUNTING PO_13
3. SIGNIFICANT ACCOUNTING POLICIES: Flow-through shares (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Flow-through shares | Flow-through shares The resource expenditure deductions for income tax purposes related to exploration and development activities funded by flow-through share arrangements are renounced to investors in accordance with Canadian tax legislation. On issuance, the premium recorded on the flow-through share, being the difference in price over a common share with no tax attributes, is recognized as a liability. As expenditures are incurred, the liability associated with the renounced tax deductions is recognized through profit or loss with a pro-rata portion of the deferred premium. |
3. SIGNIFICANT ACCOUNTING PO_14
3. SIGNIFICANT ACCOUNTING POLICIES: Loss per common share (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Loss per common share | Loss per common share The Company presents basic and diluted loss per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period, adjusted for own shares held. Diluted EPS is determined by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding, adjusted for own shares held and for the effects of all potential dilutive common shares related to outstanding stock options and warrants issued by the Company. |
3. SIGNIFICANT ACCOUNTING PO_15
3. SIGNIFICANT ACCOUNTING POLICIES: Income taxes (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Income taxes | Income taxes Income tax on the loss for the periods presented comprises current and deferred tax. Income tax is recognized in the loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Income tax provisions are recognized when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, a provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This requires the application of judgment as to the ultimate outcome, which can change over time depending on facts and circumstances. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognized in income in the period in which the change occurs. Deferred tax assets or liabilities arising from temporary differences between the tax and accounting values of assets and liabilities, are recorded based on tax rates expected to be enacted when these differences are reversed. Deferred tax assets are recognized only to the extent it is considered probable that those assets will be recovered. This involves an assessment of when those deferred tax assets are likely to be realized, and a judgment as to whether or not there will be sufficient taxable profits available to offset the tax assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in respect of deferred tax assets as well as in the amounts recognized in income in the period in which the change occurs. Tax provisions are based on enacted or substantively enacted laws. Changes in those laws could affect amounts recognized in income both in the period of change, which would include any impact on cumulative provisions, and in future periods. |
3. SIGNIFICANT ACCOUNTING PO_16
3. SIGNIFICANT ACCOUNTING POLICIES: Comparative figures (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Policies | |
Comparative figures | Comparative figures Certain comparative figures have been reclassified to conform to the current year's presentation. |
3. SIGNIFICANT ACCOUNTING PO_17
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation: Schedule of subsidiary entities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of subsidiary entities | The consolidated financial statements of the Company include the accounts of Alianza Minerals Ltd. and the following entities: Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company |
3. SIGNIFICANT ACCOUNTING PO_18
3. SIGNIFICANT ACCOUNTING POLICIES: Financial instruments: Schedule of classification and measurement of financial assets and liabilities under IFRS-9 (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of classification and measurement of financial assets and liabilities under IFRS-9 | IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Marketable securities Fair value through profit and loss Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost |
4. MARKETABLE SECURITIES_ Sched
4. MARKETABLE SECURITIES: Schedule of Marketable Securities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Marketable Securities | September 30, 2023 Number of Shares Cost Fair Value Highlander Silver Corp. 75,000 $ 12,000 $ 4,500 Subsequently in October 2023, Highlander completed a share consolidation on a two pre-consolidation common shares for one new common share basis and the Company currently holds 37,500 Highlander shares. September 30, 2022 Number of Shares Cost Fair Value Allied Copper Corp. 1,155,707 $ 246,284 $ 161,799 |
4. MARKETABLE SECURITIES_ Sch_2
4. MARKETABLE SECURITIES: Schedule of Net changes in fair value of marketable securities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Net changes in fair value of marketable securities | September 30, 2023 September 30, 2022 Net changes in fair value of marketable securities through profit and loss Beginning of the period $ 161,799 $ - Shares received 12,000 267,500 Shares transferred - (21,216) Shares sold (246,284) - Change in unrealized gain (loss) 76,985 (84,485) Value at September 30, 2023 and 2022 $ 4,500 $ 161,799 |
5. EXPLORATION AND EVALUATION_2
5. EXPLORATION AND EVALUATION ASSETS: Schedule of Exploration and Evaluaion Assets (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Exploration and Evaluaion Assets | Exploration and Evaluation Assets for the year ended September 30, 2023 Haldane Tim Others Dropped Total Balance at September 30, 2022 $ 4,963,946 $ (49,949) $ 1,763,858 $ 347,660 $ 7,025,515 Additions during the year Acquisition costs: Claim staking - - 5,799 - 5,799 Property acquisition - - 13,520 - 13,520 - - 19,319 - 19,319 Exploration expenditures: Camp, travel and meals 14,293 - 19,786 - 34,079 Drilling - - 20,926 - 20,926 Field equipment rental - - 7,009 - 7,009 Field supplies and maps 297 - 146 - 443 Geochemical 4,868 - 11,782 - 16,650 Geological consulting 65,517 5,791 36,046 - 107,354 Licence and permits - - 46,139 - 46,139 Management fees - - 15,642 12,939 28,581 Permitting - 12,000 64,545 1,023 77,568 Reclamation - - 717 - 717 Reporting, drafting, sampling and analysis - - 304 - 304 Trenching - - 270 - 270 84,975 17,791 223,312 13,962 340,040 Less: Option payment received - - (44,897) - (44,897) Proceeds received in excess of exploration and evaluation asset costs – recognized as income - 82,158 50,850 - 133,008 Recovered exploration expenditures - (50,000) (171,825) (18,546) (240,371) Write-down of properties - - - (338,943) (338,943) Net additions 84,975 49,949 76,759 (343,527) (131,844) Foreign currency translation - (7,893) (4,133) (12,026) Balance at September 30, 2023 $ 5,048,921 $ - $ 1,832,724 $ - $ 6,881,645 Exploration and Evaluation Assets for the year ended September 30, 2022 Haldane Tim Others Dropped / Disposed Total Balance at September 30, 2021 $ 4,648,181 $ (9,949) $ 2,048,745 $ 1,021,402 $ 7,708,379 Additions during the year Acquisition costs: Claim staking - - 880 - 880 Property acquisition - - 91,837 - 91,837 - - 92,717 - 92,717 Exploration expenditures: Aircraft charter 1,066 - - - 1,066 Camp, travel and meals 30,005 - 51,703 - 81,708 Drilling 55,332 - 591,169 - 646,501 Field equipment rental 11,731 - 27,769 - 39,500 Field supplies and maps 786 - 7,566 - 8,352 Geochemical - - 1,942 - 1,942 Geological consulting 179,177 - 116,575 4,206 299,958 Legal and accounting - - 11,662 - 11,662 Licence and permits - - 59,257 - 59,257 Management fees - - 19,875 - 19,875 Permitting 13,823 - 122,796 2,500 139,119 Reclamation - - 10,525 - 10,525 Reporting, drafting, sampling and analysis 23,845 - 13,431 - 37,276 Trenching - - 87,008 - 87,008 315,765 - 1,121,278 6,706 1,443,749 Less: Option payment received - - (412,500) - (412,500) Proceeds received in excess of exploration and evaluation asset costs – recognized as income - - 341,966 - 341,966 Recovered exploration expenditures - (40,000) (1,117,966) - (1,157,966) Write-down of properties - - - (1,038,046) (1,038,046) Net additions 315,765 (40,000) 25,495 (1,031,340) (730,080) Foreign currency translation - - 37,278 9,938 47,216 Balance at September 30, 2022 $ 4,963,946 $ (49,949) $ 2,111,518 $ - $ 7,025,515 |
8. STOCK OPTIONS AND WARRANTS_
8. STOCK OPTIONS AND WARRANTS: Share-Based Payment Arrangement, Option, Activity (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Share-Based Payment Arrangement, Option, Activity | Stock option transactions and the number of stock options for the year ended September 30, 2023 are summarized as follows: Expiry date Exercise price September 30, 2022 Granted Exercised Expired / cancelled September 30, March 14, 2023 $0.50 168,000 - - (168,000) - July 30, 2024 $0.50 345,000 - - - 345,000 October 15, 2025 $0.70 401,000 - - - 401,000 January 18, 2027 $0.50 1,160,000 - - - 1,160,000 March 17, 2027 $0.50 100,000 - - - 100,000 Options outstanding 2,174,000 - - (168,000) 2,006,000 Options exercisable 2,174,000 - - (168,000) 2,006,000 Weighted average exercise price $0.54 $Nil $Nil $0.50 $0.54 |
8. STOCK OPTIONS AND WARRANTS_2
8. STOCK OPTIONS AND WARRANTS: Defined Benefit Plan, Assumptions (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Defined Benefit Plan, Assumptions | The weighted average assumptions used to estimate the fair value of options for the years ended September 30, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Risk-free interest rate n/a 1.32% - 1.34% 1.29% Expected life n/a 5 years 5 years Expected volatility n/a 104.30% - 104.41% 101.56% Expected dividend yield n/a nil nil |
8. STOCK OPTIONS AND WARRANTS_3
8. STOCK OPTIONS AND WARRANTS: Schedule of Warrants Activity (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Warrants Activity | The continuity of warrants for the year ended September 30, 2023 is as follows: Expiry date Exercise price September 30, 2022 Issued Exercised Expired September 30, October 9, 2022 $1.00 767,037 - - (767,037) - March 15, 2023 (a) $0.25 3,820,000 - (87,860) (3,732,140) - May 19, 2025 $0.625 1,000,000 - - - 1,000,000 March 15, 2025 (b) $0.50 - 87,860 - - 87,860 Outstanding 5,587,037 87,860 (87,860) (4,499,177) 1,087,860 Weighted average exercise price $0.59 $0.50 $0.25 $0.38 $0.61 |
8. STOCK OPTIONS AND WARRANTS_4
8. STOCK OPTIONS AND WARRANTS: Schedule of Finder's Warrants Activity (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Finder's Warrants Activity | The continuity of finder’s warrants for the year ended September 30, 2023 is as follows: Expiry date Exercise price September 30, 2022 Issued Exercised Expired September 30, 2023 October 9, 2022 $0.675 267,807 - - (267,807) - June 14, 2023 $0.60 133,117 - - (133,117) - Outstanding 400,924 - - (400,924) - Weighted average exercise price $0.65 $Nil $Nil $0.65 $Nil |
8. STOCK OPTIONS AND WARRANTS_5
8. STOCK OPTIONS AND WARRANTS: Schedule of weighted average assumptions used to estimate the fair value of finder's warrants (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of weighted average assumptions used to estimate the fair value of finder's warrants | The weighted average assumptions used to estimate the fair value of finder’s warrants for the years ended September 30, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Risk-free interest rate n/a n/a 1.09% Expected life n/a n/a 2 years Expected volatility n/a n/a 120.96% Expected dividend yield n/a n/a nil |
9. RELATED PARTY TRANSACTIONS_
9. RELATED PARTY TRANSACTIONS: Schedule of Related Party Transactions (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Related Party Transactions | For the year ended September 30, 2023 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ Nil $ 162,000 Rob Duncan VP of Exploration $ 150,000 $ Nil $ Nil $ Nil $ Nil $ 150,000 For the year ended September 30, 2022 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ 59,000 $ 221,000 Rob Duncan VP of Exploration $ 150,000 $ Nil $ Nil $ Nil $ 44,250 $ 194,250 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 44,250 $ 44,250 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 29,500 $ 29,500 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 14,750 $ 14,750 Sven Gollan Director $ Nil $ Nil $ Nil $ Nil $ 23,100 $ 23,100 For the year ended September 30, 2021 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 162,000 $ Nil $ Nil $ Nil $ 30,270 $ 192,270 Rob Duncan VP of Exploration $ 145,625 $ Nil $ Nil $ Nil $ 30,270 $ 175,895 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 30,270 $ 30,270 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 |
9. RELATED PARTY TRANSACTIONS_2
9. RELATED PARTY TRANSACTIONS: Schedule of Related party transactions and balances (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Related party transactions and balances | Years ended Balance due Services September 30, 2023 September 30, 2022 As at September 30, 2023 As at September 30, 2022 Amounts due to: Jason Weber Consulting fee and share-based payment $ 162,000 $ 221,000 $ 56,700 $ Nil Rob Duncan Consulting fee and share-based payment $ 150,000 $ 194,250 $ 49,679 $ Nil Pacific Opportunity Capital Ltd. (a) Accounting, financing and shareholder communication services $ 158,000 $ 201,500 $ 527,644 (b) $ 379,717 (b) Mark Brown Expenses reimbursement $ 9,546 $ 19,250 $ 3,082 $ 5,857 TOTAL: $ 479,546 $ 636,000 $ 637,105 $ 385,574 |
11. SEGMENTED INFORMATION_ Sche
11. SEGMENTED INFORMATION: Schedule of Geographical Segment Reporting Information (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Geographical Segment Reporting Information | September 30, 2023 September 30, 2022 Non-current assets USA $ 784,997 $ 1,070,155 Peru - 41,186 Canada 6,178,063 6,050,080 $ 6,963,060 $ 7,161,421 |
12. INCOME TAXES_ Schedule of E
12. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 2023 2022 Loss before income taxes $ (795,040) $ (2,051,990) Expected income tax recovery $ (216,000) $ (571,000) Permanent differences 7,000 91,000 Share issue costs (35,000) (38,000) Change in unrecognized deductible temporary differences 244,000 518,000 Total deferred income tax (recovery) expense $ - $ - |
12. INCOME TAXES_ Schedule of t
12. INCOME TAXES: Schedule of tax credits and unused tax losses (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of tax credits and unused tax losses | 2023 Expiry Date Range 2022 Expiry Date Range Temporary Differences $ $ Exploration and evaluation assets (912,000) No expiry date (1,347,000) No expiry date Property and equipment 14,000 No expiry date 14,000 No expiry date Share issue costs 167,000 2024 to 2027 297,000 2023 to 2026 Allowable capital losses 3,793,000 No expiry date 3,762,000 No expiry date Non-capital losses available for future periods 19,550,000 2027 to 2043 19,521,000 2026 to 2042 |
13. FINANCIAL INSTRUMENTS_ Sche
13. FINANCIAL INSTRUMENTS: Schedule of Financial Assets measured at fair value (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Tables/Schedules | |
Schedule of Financial Assets measured at fair value | As at September 30, 2023 Level 1 Level 2 Level 3 Total Assets: Cash $ 135,203 $ - $ - $ 135,203 As at September 30, 2022 Level 1 Level 2 Level 3 Total Assets: Cash $ 403,093 $ - $ - $ 403,093 Restricted cash 234,081 - - 234,081 |
1. NATURE OF OPERATIONS AND G_2
1. NATURE OF OPERATIONS AND GOING CONCERN (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Entity Incorporation, Date of Incorporation | Oct. 21, 2005 | |
Entity Address, Address Line One | Suite 410 | |
Entity Address, Address Line Two | 325 Howe Street | |
Entity Address, City or Town | Vancouver | |
Entity Address, State or Province | BC | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | V6C 1Z7 | |
Working capital deficiency | $ 683,757 | $ 171,465 |
Equity, Attributable to Parent | $ 6,279,303 | $ 6,989,956 |
3. SIGNIFICANT ACCOUNTING PO_19
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation: Schedule of subsidiary entities (Details) | 12 Months Ended | |
Sep. 30, 2023 | ||
Alianza Holdings Ltd | ||
Name of Subsidiaries | Alianza Holdings Ltd. | |
% of ownership | 100% | |
Jurisdiction | Canada | |
Principal Activity | Holding Company | |
Canadian Shield Explorations (Int'l) Ltd | ||
Name of Subsidiaries | Canadian Shield Explorations (Int’l) Ltd. | |
% of ownership | 100% | |
Jurisdiction | Canada | |
Principal Activity | Holding Company | |
Estrella Gold Peru S.A.C | ||
Name of Subsidiaries | Estrella Gold Peru S.A.C. | |
% of ownership | 100% | |
Jurisdiction | Peru | |
Principal Activity | Exploration Company | |
Estrella Gold DR, S.R.L | ||
Name of Subsidiaries | Estrella Gold DR, S.R.L. (1) | [1] |
% of ownership | 100% | [1] |
Jurisdiction | Dominican Republic | [1] |
Principal Activity | Holding Company | [1] |
Tarsis Resources US Inc | ||
Name of Subsidiaries | Tarsis Resources US Inc. | |
% of ownership | 100% | |
Jurisdiction | Nevada, USA | |
Principal Activity | Holding Company | |
Yanac Peru Exploration LLC | ||
Name of Subsidiaries | Yanac Minera Peru S.A.C. | |
% of ownership | 100% | |
Jurisdiction | Peru | |
Principal Activity | Exploration Company | |
[1]Estrella Gold DR. S.R.L. is in the process of being wound up. |
4. MARKETABLE SECURITIES_ Sch_3
4. MARKETABLE SECURITIES: Schedule of Marketable Securities (Details) | 12 Months Ended |
Sep. 30, 2023 CAD ($) shares | |
Highlander Silver Corp | |
Marketable Securities, Shares | shares | 75,000 |
Marketable Securities, Cost | $ 12,000 |
Marketable Securities, Fair Value | $ 4,500 |
Allied Copper Corp | |
Marketable Securities, Shares | shares | 1,155,707 |
Marketable Securities, Cost | $ 246,284 |
Marketable Securities, Fair Value | $ 161,799 |
4. MARKETABLE SECURITIES_ Sch_4
4. MARKETABLE SECURITIES: Schedule of Net changes in fair value of marketable securities (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Marketable Securities, Fair Value | $ 161,799 | $ 0 |
Marketable Securities, Shares received | 12,000 | 267,500 |
Marketable Securities, Shares transferred | 0 | (21,216) |
Marketable Securities, Shares Sold | (246,284) | 0 |
Marketable Securities, Change in unrealized (loss) | 76,985 | (84,485) |
Marketable Securities, Fair Value | $ 4,500 | $ 161,799 |
5. EXPLORATION AND EVALUATION_3
5. EXPLORATION AND EVALUATION ASSETS: Schedule of Exploration and Evaluaion Assets (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Exploration and Evaluation Assets, Starting Balance | $ 7,025,515 | |
Exploration and Evaluation Assets, Claim staking | 5,799 | $ 880 |
Exploration and Evaluation Assets, Property acquisition | 13,520 | 91,837 |
Exploration and Evaluation Assets, Total | 19,319 | 92,717 |
Exploration and Evaluation Assets, Camp, travel and meals | 34,079 | 81,708 |
Exploration and Evaluation Assets, Drilling | 20,926 | 646,501 |
Exploration and Evaluation Assets, Field equipment rental | 7,009 | 39,500 |
Exploration and Evaluation Assets, Field supplies and maps | 443 | 8,352 |
Exploration and Evaluation Assets, Geochemical | 16,650 | 1,942 |
Exploration and Evaluation Assets, Geological consulting | 107,354 | 299,958 |
Exploration and Evaluation Assets, Licence and permits | 46,139 | 59,257 |
Exploration and Evaluation Assets, Management fees | 28,581 | 19,875 |
Exploration and Evaluation Assets, Permitting | 77,568 | 139,119 |
Exploration and Evaluation Assets, Reclamation | 717 | 10,525 |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 304 | 37,276 |
Exploration and Evalutation Assets - Trenching | 270 | 87,008 |
Exploration and Evaluation Assets, Total expenses | 340,040 | 1,443,749 |
Exploration and Evaluation Assets, Option payment received | (44,897) | (412,500) |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 133,008 | 341,966 |
Exploration and Evaluation Assets, Recovered exploration expenditures | (240,371) | (1,157,966) |
Exploration and Evalutation Assets - Writedown of Properties | (338,943) | (1,038,046) |
Exploration and Evaluation Assets, Net Additions | (131,844) | (730,080) |
Exploration and Evaluation Assets, Foreign Currency Translation | (12,026) | 47,216 |
Exploration and Evaluation Assets, Ending Balance | 6,881,645 | 7,025,515 |
Exploration and Evaluation Assets, Aircraft charter | 1,066 | |
Exploration and Evaluation Assets, Legal and accounting | 11,662 | |
Haldane | ||
Exploration and Evaluation Assets, Starting Balance | 4,963,946 | |
Exploration and Evaluation Assets, Claim staking | 0 | 0 |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 14,293 | 30,005 |
Exploration and Evaluation Assets, Drilling | 0 | 55,332 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 11,731 |
Exploration and Evaluation Assets, Field supplies and maps | 297 | 786 |
Exploration and Evaluation Assets, Geochemical | 4,868 | 0 |
Exploration and Evaluation Assets, Geological consulting | 65,517 | 179,177 |
Exploration and Evaluation Assets, Licence and permits | 0 | 0 |
Exploration and Evaluation Assets, Management fees | 0 | 0 |
Exploration and Evaluation Assets, Permitting | 0 | 13,823 |
Exploration and Evaluation Assets, Reclamation | 0 | 0 |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 23,845 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 84,975 | 315,765 |
Exploration and Evaluation Assets, Option payment received | 0 | 0 |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 0 | 0 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 84,975 | 315,765 |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | |
Exploration and Evaluation Assets, Ending Balance | 5,048,921 | 4,963,946 |
Exploration and Evaluation Assets, Aircraft charter | 1,066 | |
Exploration and Evaluation Assets, Legal and accounting | 0 | |
Tim | ||
Exploration and Evaluation Assets, Starting Balance | (49,949) | |
Exploration and Evaluation Assets, Claim staking | 0 | 0 |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 5,791 | 0 |
Exploration and Evaluation Assets, Licence and permits | 0 | 0 |
Exploration and Evaluation Assets, Management fees | 0 | 0 |
Exploration and Evaluation Assets, Permitting | 12,000 | 0 |
Exploration and Evaluation Assets, Reclamation | 0 | 0 |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 17,791 | 0 |
Exploration and Evaluation Assets, Option payment received | 0 | 0 |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 82,158 | 0 |
Exploration and Evaluation Assets, Recovered exploration expenditures | (50,000) | (40,000) |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 49,949 | (40,000) |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | 0 |
Exploration and Evaluation Assets, Ending Balance | 0 | (49,949) |
Exploration and Evaluation Assets, Aircraft charter | 0 | |
Exploration and Evaluation Assets, Legal and accounting | 0 | |
Others )2023) | ||
Exploration and Evaluation Assets, Starting Balance | 1,763,858 | |
Exploration and Evaluation Assets, Claim staking | 5,799 | |
Exploration and Evaluation Assets, Property acquisition | 13,520 | |
Exploration and Evaluation Assets, Total | 19,319 | |
Exploration and Evaluation Assets, Camp, travel and meals | 19,786 | |
Exploration and Evaluation Assets, Drilling | 20,926 | |
Exploration and Evaluation Assets, Field equipment rental | 7,009 | |
Exploration and Evaluation Assets, Field supplies and maps | 146 | |
Exploration and Evaluation Assets, Geochemical | 11,782 | |
Exploration and Evaluation Assets, Geological consulting | 36,046 | |
Exploration and Evaluation Assets, Licence and permits | 46,139 | |
Exploration and Evaluation Assets, Management fees | 15,642 | |
Exploration and Evaluation Assets, Permitting | 64,545 | |
Exploration and Evaluation Assets, Reclamation | 717 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 304 | |
Exploration and Evalutation Assets - Trenching | 270 | |
Exploration and Evaluation Assets, Total expenses | 223,312 | |
Exploration and Evaluation Assets, Option payment received | (44,897) | |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 50,850 | |
Exploration and Evaluation Assets, Recovered exploration expenditures | (171,825) | |
Exploration and Evalutation Assets - Writedown of Properties | 0 | |
Exploration and Evaluation Assets, Net Additions | 76,759 | |
Exploration and Evaluation Assets, Foreign Currency Translation | (7,893) | |
Exploration and Evaluation Assets, Ending Balance | 1,832,724 | 1,763,858 |
Dropped (2023) | ||
Exploration and Evaluation Assets, Starting Balance | 347,660 | |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | |
Exploration and Evaluation Assets, Total | 0 | |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | |
Exploration and Evaluation Assets, Drilling | 0 | |
Exploration and Evaluation Assets, Field equipment rental | 0 | |
Exploration and Evaluation Assets, Field supplies and maps | 0 | |
Exploration and Evaluation Assets, Geochemical | 0 | |
Exploration and Evaluation Assets, Geological consulting | 0 | |
Exploration and Evaluation Assets, Licence and permits | 0 | |
Exploration and Evaluation Assets, Management fees | 12,939 | |
Exploration and Evaluation Assets, Permitting | 1,023 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | |
Exploration and Evalutation Assets - Trenching | 0 | |
Exploration and Evaluation Assets, Total expenses | 13,962 | |
Exploration and Evaluation Assets, Option payment received | 0 | |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 0 | |
Exploration and Evaluation Assets, Recovered exploration expenditures | (18,546) | |
Exploration and Evalutation Assets - Writedown of Properties | (338,943) | |
Exploration and Evaluation Assets, Net Additions | (343,527) | |
Exploration and Evaluation Assets, Foreign Currency Translation | (4,133) | |
Exploration and Evaluation Assets, Ending Balance | 0 | 347,660 |
Others (2022) | ||
Exploration and Evaluation Assets, Starting Balance | 2,111,518 | |
Exploration and Evaluation Assets, Claim staking | 880 | |
Exploration and Evaluation Assets, Property acquisition | 91,837 | |
Exploration and Evaluation Assets, Total | 92,717 | |
Exploration and Evaluation Assets, Camp, travel and meals | 51,703 | |
Exploration and Evaluation Assets, Drilling | 591,169 | |
Exploration and Evaluation Assets, Field equipment rental | 27,769 | |
Exploration and Evaluation Assets, Field supplies and maps | 7,566 | |
Exploration and Evaluation Assets, Geochemical | 1,942 | |
Exploration and Evaluation Assets, Geological consulting | 116,575 | |
Exploration and Evaluation Assets, Licence and permits | 59,257 | |
Exploration and Evaluation Assets, Management fees | 19,875 | |
Exploration and Evaluation Assets, Permitting | 122,796 | |
Exploration and Evaluation Assets, Reclamation | 10,525 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 13,431 | |
Exploration and Evalutation Assets - Trenching | 87,008 | |
Exploration and Evaluation Assets, Total expenses | 1,121,278 | |
Exploration and Evaluation Assets, Option payment received | (412,500) | |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 341,966 | |
Exploration and Evaluation Assets, Recovered exploration expenditures | (1,117,966) | |
Exploration and Evalutation Assets - Writedown of Properties | 0 | |
Exploration and Evaluation Assets, Net Additions | 25,495 | |
Exploration and Evaluation Assets, Foreign Currency Translation | 37,278 | |
Exploration and Evaluation Assets, Ending Balance | 2,111,518 | |
Exploration and Evaluation Assets, Aircraft charter | 0 | |
Exploration and Evaluation Assets, Legal and accounting | 11,662 | |
Dropped (2022) | ||
Exploration and Evaluation Assets, Starting Balance | $ 0 | |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | |
Exploration and Evaluation Assets, Total | 0 | |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | |
Exploration and Evaluation Assets, Drilling | 0 | |
Exploration and Evaluation Assets, Field equipment rental | 0 | |
Exploration and Evaluation Assets, Field supplies and maps | 0 | |
Exploration and Evaluation Assets, Geochemical | 0 | |
Exploration and Evaluation Assets, Geological consulting | 4,206 | |
Exploration and Evaluation Assets, Licence and permits | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Exploration and Evaluation Assets, Permitting | 2,500 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | |
Exploration and Evalutation Assets - Trenching | 0 | |
Exploration and Evaluation Assets, Total expenses | 6,706 | |
Exploration and Evaluation Assets, Option payment received | 0 | |
Exploration and Evaluation Assets, Proceeds received in excess of exploration and evaluation asset costs –recognized as income | 0 | |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | |
Exploration and Evalutation Assets - Writedown of Properties | (1,038,046) | |
Exploration and Evaluation Assets, Net Additions | (1,031,340) | |
Exploration and Evaluation Assets, Foreign Currency Translation | 9,938 | |
Exploration and Evaluation Assets, Ending Balance | 0 | |
Exploration and Evaluation Assets, Aircraft charter | 0 | |
Exploration and Evaluation Assets, Legal and accounting | $ 0 |
5. EXPLORATION AND EVALUATION_4
5. EXPLORATION AND EVALUATION ASSETS (Details) - CAD ($) | 12 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2017 | Sep. 30, 2021 | ||
Restricted cash | $ 0 | $ 234,081 | $ 0 | ||
Volt to be spent on the Klondike | |||||
Restricted cash | 0 | 226,663 | |||
Volt to be spent on the Stateline property | |||||
Restricted cash | 0 | 7,418 | |||
Ashby (Nevada) | |||||
Proceeds from (Repayments of) Related Party Debt | 3,438 | 3,304 | |||
BP (Nevada) | |||||
Exploration and Evaluation Assets, Write-down of properties | 307,548 | ||||
Horsethief (Nevada) | |||||
Exploration and Evaluation Assets, Write-down of properties | 146,089 | ||||
Bellview (Nevada) | |||||
Exploration and Evaluation Assets, Write-down of properties | 110,687 | ||||
East Walker (Nevada) | |||||
Exploration and Evaluation Assets, Write-down of properties | 31,395 | ||||
KRL (British Columbia) | |||||
Exploration and Evaluation Assets, Write-down of properties | 336,975 | ||||
Yanac (Peru) | |||||
Exploration and Evaluation Assets, Write-down of properties | 444,295 | $ 114,319 | |||
La Estrella (Peru) | |||||
Proceeds from (Repayments of) Related Party Debt | [1] | 15,000 | |||
La Estrella (Peru), Share Issuance | |||||
Proceeds from (Repayments of) Related Party Debt | [1] | 12,000 | |||
Haldane | |||||
Accumulated expense on advancing property | 5,048,921 | 4,963,946 | |||
Twin Canyon | |||||
Accumulated expense on advancing property | 681,817 | 651,660 | |||
White River, Goz Creek and MOR (Yukon) | |||||
Accumulated expense on advancing property | $ 1,129,142 | $ 1,071,213 | |||
[1]Note 4 |
6. DEPOSITS (Details)
6. DEPOSITS (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Deposits | $ 81,415 | $ 94,720 |
State of Colorado Board of Land Commissioners and Colorado Division of Reclamation, Mining and Safety | ||
Deposits | 81,415 | 79,799 |
Ministry of Energy, Mines and Low Carbon Innovation | ||
Deposits | $ 0 | $ 14,921 |
7. SHARE CAPITAL (Details)
7. SHARE CAPITAL (Details) | 12 Months Ended | |||||
Sep. 30, 2023 CAD ($) shares | Sep. 30, 2022 CAD ($) | Sep. 30, 2021 CAD ($) | Sep. 30, 2022 $ / shares shares | Sep. 30, 2021 $ / shares shares | ||
Share issue costs | $ (35,000) | $ (38,000) | ||||
Share Capital Transaction 1 | ||||||
Shares, Issued | shares | 1,534,074 | |||||
Sale of Stock, Price Per Share | $ / shares | $ 0.675 | |||||
Stock Issued | $ 1,035,500 | |||||
Share Capital Transaction 2 | ||||||
Shares, Issued | shares | 2,776,226 | |||||
Sale of Stock, Price Per Share | $ / shares | $ 0.775 | |||||
Stock Issued | 2,151,575 | |||||
Share Capital, Transaction 1 and 2 | ||||||
Cash finder's fee | $ 199,868 | |||||
Finder's Warrants issued | shares | 267,807 | |||||
Other Assets, Fair Value Disclosure | $ 109,533 | |||||
Description of method of measuring fair value of instruments or interests | Black-Scholes option pricing model | |||||
Share issue costs | 41,371 | |||||
Share Capital Transaction 3 | ||||||
Shares, Issued | shares | 2,102,067 | |||||
Sale of Stock, Price Per Share | $ / shares | $ 0.6 | |||||
Stock Issued | 1,261,240 | |||||
Cash finder's fee | 79,870 | |||||
Finder's Warrants issued | shares | 133,117 | |||||
Other Assets, Fair Value Disclosure | $ 44,394 | |||||
Description of method of measuring fair value of instruments or interests | Black-Scholes option pricing model | |||||
Share issue costs | 27,106 | |||||
Share Capital Transaction 4 | ||||||
Shares, Issued | shares | [1] | 30,000 | ||||
Sale of Stock, Price Per Share | $ / shares | [1] | $ 0.55 | ||||
Stock Issued | [1] | 16,500 | ||||
Share Capital Transaction 5 | ||||||
Shares, Issued | shares | [1] | 40,000 | ||||
Sale of Stock, Price Per Share | $ / shares | [1] | $ 0.325 | ||||
Stock Issued | [1] | 13,000 | ||||
Share Capital Transaction 6 | ||||||
Stock Issued | $ 626,805 | |||||
Share Capital Transaction 7 | ||||||
Shares, Issued | shares | 2,000,000 | |||||
Sale of Stock, Price Per Share | $ / shares | $ 0.375 | |||||
Stock Issued | 750,000 | |||||
Share issue costs | $ 20,370 | |||||
Share Capital Transaction 8 | ||||||
Shares, Issued | shares | 87,860 | |||||
Stock Issued | $ 21,965 | |||||
[1]see Note 5 |
8. STOCK OPTIONS AND WARRANTS_6
8. STOCK OPTIONS AND WARRANTS: Share-Based Payment Arrangement, Option, Activity (Details) - Stock options - $ / shares | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Outstanding | 2,174,000 | 914,000 | 782,000 |
Granted | 0 | 1,260,000 | 401,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (168,000) | 0 | (269,000) |
Outstanding | 2,006,000 | 2,174,000 | 914,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 2,174,000 | 4,570,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 2,006,000 | 2,174,000 | 4,570,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 0.54 | $ 0.59 | $ 0.6 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | 0 | 0.5 | 0.7 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 0 | 0 | 0 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | 0.5 | 0 | 0.79 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | 0.54 | 0.54 | 0.59 |
Expiry Date, March 14, 2023 | |||
Exercise price | $ 0.5 | $ 0.5 | $ 0.5 |
Outstanding | 168,000 | 168,000 | 168,000 |
Granted | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (168,000) | 0 | 0 |
Outstanding | 0 | 168,000 | 168,000 |
Expiry Date, July 30, 2024 | |||
Exercise price | $ 0.5 | $ 0.5 | $ 0.5 |
Outstanding | 345,000 | 345,000 | 345,000 |
Granted | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | 0 |
Outstanding | 345,000 | 345,000 | 345,000 |
Expiry Date, October 15, 2025 | |||
Exercise price | $ 0.7 | $ 0.7 | $ 0.7 |
Outstanding | 401,000 | 401,000 | 0 |
Granted | 0 | 0 | 401,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | 0 |
Outstanding | 401,000 | 401,000 | 401,000 |
Expiry Date, January 18, 2027 | |||
Exercise price | $ 0.5 | $ 0.5 | |
Outstanding | 1,160,000 | 0 | |
Granted | 0 | 1,160,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | |
Outstanding | 1,160,000 | 1,160,000 | 0 |
Expiry Date, March 17, 2027 | |||
Exercise price | $ 0.5 | $ 0.5 | |
Outstanding | 100,000 | 0 | |
Granted | 0 | 100,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | |
Outstanding | 100,000 | 100,000 | 0 |
8. STOCK OPTIONS AND WARRANTS (
8. STOCK OPTIONS AND WARRANTS (Details) | 12 Months Ended | |||||
Sep. 30, 2023 $ / shares | Sep. 30, 2023 CAD ($) shares | Sep. 30, 2022 $ / shares | Sep. 30, 2022 CAD ($) shares | Sep. 30, 2021 $ / shares | Sep. 30, 2021 CAD ($) shares | |
Weighted average contractual remaining life of options in years | 2.64 | 2.64 | 3.39 | 3.39 | 3.11 | 3.11 |
Weighted average fair value of stock options granted | $ | $ 0 | $ 0.3 | $ 0.5 | |||
Weighted average contractual remaining life of warrants in years | 1.62 | 1.62 | 0.75 | 0.75 | 1.15 | 1.15 |
Weighted average contractual remaining life of finder's warrants in years | 0 | 0 | 0.25 | 0.25 | 1.25 | 1.25 |
Stock options | ||||||
Outstanding | 2,174,000 | 914,000 | 782,000 | |||
Granted | 0 | 1,260,000 | 401,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (168,000) | 0 | (269,000) | |||
Outstanding | 2,006,000 | 2,174,000 | 914,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 2,174,000 | 4,570,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 2,006,000 | 2,174,000 | 4,570,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.54 | $ 0.59 | $ 0.6 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0 | 0.5 | 0.7 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0 | 0 | 0 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.5 | 0 | 0.79 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0.54 | 0.54 | 0.59 | |||
Stock options | Expiry Date, March 14, 2023 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | 0.5 | |||
Outstanding | 168,000 | 168,000 | 168,000 | |||
Granted | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (168,000) | 0 | 0 | |||
Outstanding | 0 | 168,000 | 168,000 | |||
Stock options | Expiry Date, July 30, 2024 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | 0.5 | |||
Outstanding | 345,000 | 345,000 | 345,000 | |||
Granted | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | 0 | |||
Outstanding | 345,000 | 345,000 | 345,000 | |||
Stock options | Expiry Date, October 15, 2025 | ||||||
Exercise price | $ / shares | 0.7 | 0.7 | 0.7 | |||
Outstanding | 401,000 | 401,000 | 0 | |||
Granted | 0 | 0 | 401,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | 0 | |||
Outstanding | 401,000 | 401,000 | 401,000 | |||
Stock options | Expiry Date, January 18, 2027 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | ||||
Outstanding | 1,160,000 | 0 | ||||
Granted | 0 | 1,160,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||||
Outstanding | 1,160,000 | 1,160,000 | 0 | |||
Stock options | Expiry Date, March 17, 2027 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | ||||
Outstanding | 100,000 | 0 | ||||
Granted | 0 | 100,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||||
Outstanding | 100,000 | 100,000 | 0 | |||
Stock options | Expiry Date, April 26, 2021 | ||||||
Exercise price | $ / shares | 1.25 | |||||
Outstanding | 0 | 20,000 | ||||
Granted | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (20,000) | |||||
Outstanding | 0 | |||||
Stock options | Expiry Date, September 30, 2021 | ||||||
Exercise price | $ / shares | 0.75 | |||||
Outstanding | 0 | 249,000 | ||||
Granted | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (249,000) | |||||
Outstanding | 0 | |||||
Warrants | ||||||
Outstanding | 5,587,037 | 6,857,037 | 7,558,000 | |||
Granted | 87,860 | 1,000,000 | 767,037 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | (87,860) | 0 | (1,248,000) | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (4,499,177) | (2,270,000) | (220,000) | |||
Outstanding | 1,087,860 | 5,587,037 | 6,857,037 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | 0.59 | 0.56 | 0.5 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0.5 | 0.625 | 1 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0.25 | 0 | 0.5 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.38 | 0.5 | 0.5 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0.61 | 0.59 | 0.56 | |||
Warrants | Expiry Date, July 9, 2022 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | ||||
Outstanding | 0 | 2,270,000 | 2,520,000 | |||
Granted | 0 | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | (250,000) | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (2,270,000) | 0 | ||||
Outstanding | 0 | 2,270,000 | ||||
Warrants | Expiry Date, October 9, 2022 | ||||||
Exercise price | $ / shares | 1 | 1 | 1 | |||
Outstanding | 767,037 | 767,037 | 0 | |||
Granted | 0 | 0 | 767,037 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (767,037) | 0 | 0 | |||
Outstanding | 0 | 767,037 | 767,037 | |||
Warrants | Expiry Date, February 25, 2023 | ||||||
Exercise price | $ / shares | 0.5 | 0.5 | ||||
Outstanding | 3,820,000 | 3,820,000 | 4,158,000 | |||
Granted | 0 | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | (338,000) | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||||
Outstanding | 3,820,000 | 3,820,000 | ||||
Warrants | Expiry Date, May 19, 2025 | ||||||
Exercise price | $ / shares | 0.625 | 0.625 | ||||
Outstanding | 1,000,000 | 0 | ||||
Granted | 0 | 1,000,000 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||||
Outstanding | 1,000,000 | 1,000,000 | 0 | |||
Warrants | Expiry Date, December 24, 2020 | ||||||
Exercise price | $ / shares | 0.5 | |||||
Outstanding | 0 | 880,000 | ||||
Granted | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | (660,000) | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (220,000) | |||||
Outstanding | 0 | |||||
Finder's warrants | ||||||
Outstanding | 400,924 | 400,924 | 161,220 | |||
Granted | 0 | 0 | 400,924 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | (11,220) | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (400,924) | 0 | (150,000) | |||
Outstanding | 0 | 400,924 | 400,924 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | 0.65 | 0.65 | 0.25 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0 | 0 | 0.65 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0 | 0 | 0.25 | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.65 | 0 | 0.25 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0 | 0.65 | 0.65 | |||
Finder's warrants | Expiry Date, October 9, 2022 | ||||||
Exercise price | $ / shares | 0.675 | 0.675 | 0.675 | |||
Outstanding | 267,807 | 267,807 | 0 | |||
Granted | 0 | 0 | 267,807 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (267,807) | 0 | 0 | |||
Outstanding | 0 | 267,807 | 267,807 | |||
Finder's warrants | Expiry Date, June 14, 2023 | ||||||
Exercise price | $ / shares | $ 0.6 | $ 0.6 | 0.6 | |||
Outstanding | 133,117 | 133,117 | 0 | |||
Granted | 0 | 0 | 133,117 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (133,117) | 0 | 0 | |||
Outstanding | 0 | 133,117 | 133,117 | |||
Finder's warrants | Expiry Date, February 25, 2021 | ||||||
Exercise price | $ / shares | $ 0.25 | |||||
Outstanding | 0 | 161,220 | ||||
Granted | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | (11,220) | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (150,000) | |||||
Outstanding | 0 |
8. STOCK OPTIONS AND WARRANTS_7
8. STOCK OPTIONS AND WARRANTS: Defined Benefit Plan, Assumptions (Details) | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Fair Value of Options, Risk-free Interest Rate | 1.29% | |
Fair Value of Options, Expected Life | 5 years | 5 years |
Fair Value of Options, Expected Volatility | 101.56% | |
Fair Value of Options, Expected Dividend Yield | 0% | 0% |
Minimum | ||
Fair Value of Options, Risk-free Interest Rate | 1.32% | |
Fair Value of Options, Expected Volatility | 104.30% | |
Maximum | ||
Fair Value of Options, Risk-free Interest Rate | 1.34% | |
Fair Value of Options, Expected Volatility | 104.41% |
8. STOCK OPTIONS AND WARRANTS_8
8. STOCK OPTIONS AND WARRANTS: Schedule of Warrants Activity (Details) - Warrants - $ / shares | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Outstanding | 5,587,037 | 6,857,037 | 7,558,000 | |
Granted | 87,860 | 1,000,000 | 767,037 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | (87,860) | 0 | (1,248,000) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (4,499,177) | (2,270,000) | (220,000) | |
Outstanding | 1,087,860 | 5,587,037 | 6,857,037 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 0.59 | $ 0.56 | $ 0.5 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | 0.5 | 0.625 | 1 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 0.25 | 0 | 0.5 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | 0.38 | 0.5 | 0.5 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | 0.61 | 0.59 | 0.56 | |
Expiry Date, October 9, 2022 | ||||
Exercise price | $ 1 | $ 1 | $ 1 | |
Outstanding | 767,037 | 767,037 | 0 | |
Granted | 0 | 0 | 767,037 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (767,037) | 0 | 0 | |
Outstanding | 0 | 767,037 | 767,037 | |
Expiry Date, March 15, 2023 | ||||
Exercise price | [1] | $ 0.25 | ||
Outstanding | [1] | 3,820,000 | ||
Granted | [1] | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | [1] | (87,860) | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | [1] | (3,732,140) | ||
Outstanding | [1] | 0 | 3,820,000 | |
Expiry Date, May 19, 2025 | ||||
Exercise price | $ 0.625 | $ 0.625 | ||
Outstanding | 1,000,000 | 0 | ||
Granted | 0 | 1,000,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | ||
Outstanding | 1,000,000 | 1,000,000 | 0 | |
Expiry Date, March 15, 2025 | ||||
Exercise price | [2] | $ 0.5 | ||
Outstanding | [2] | 0 | ||
Granted | [2] | 87,860 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | [2] | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | [2] | 0 | ||
Outstanding | [2] | 87,860 | 0 | |
[1]On February 15, 2023, the exercise price of the 3,820,000 warrants was amended from $0.50 to $0.25 and the expiry date was extended to March 15, 2023.[2]Pursuant to the warrant incentive program, 87,860 warrants were exercised for 87,860 common shares and 87,860 incentive warrants at a price of $0.50 expiring on March 15, 2025. |
8. STOCK OPTIONS AND WARRANTS_9
8. STOCK OPTIONS AND WARRANTS: Schedule of Finder's Warrants Activity (Details) - Finder's warrants - $ / shares | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Outstanding | 400,924 | 400,924 | 161,220 |
Granted | 0 | 0 | 400,924 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | (11,220) |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (400,924) | 0 | (150,000) |
Outstanding | 0 | 400,924 | 400,924 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 0.65 | $ 0.65 | $ 0.25 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | 0 | 0 | 0.65 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 0 | 0 | 0.25 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | 0.65 | 0 | 0.25 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | 0 | 0.65 | 0.65 |
Expiry Date, October 9, 2022 | |||
Exercise price | $ 0.675 | $ 0.675 | $ 0.675 |
Outstanding | 267,807 | 267,807 | 0 |
Granted | 0 | 0 | 267,807 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (267,807) | 0 | 0 |
Outstanding | 0 | 267,807 | 267,807 |
Expiry Date, June 14, 2023 | |||
Exercise price | $ 0.6 | $ 0.6 | $ 0.6 |
Outstanding | 133,117 | 133,117 | 0 |
Granted | 0 | 0 | 133,117 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (133,117) | 0 | 0 |
Outstanding | 0 | 133,117 | 133,117 |
8. STOCK OPTIONS AND WARRANT_10
8. STOCK OPTIONS AND WARRANTS: Schedule of weighted average assumptions used to estimate the fair value of finder's warrants (Details) | 12 Months Ended |
Sep. 30, 2021 | |
Details | |
Fair Value of Finder's Warrants, Risk-free interest rate | 1.09% |
Fair Value of Finder's Warrants, Expected Life | 2 years |
Fair Value of Finder's Warrants, Expected volatility | 120.96% |
Fair Value of Finder's Warrants, Expected dividend yield | 0% |
9. RELATED PARTY TRANSACTIONS_3
9. RELATED PARTY TRANSACTIONS: Schedule of Related Party Transactions (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | $ 162,000 | $ 221,000 | $ 192,270 |
Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 150,000 | 194,250 | 175,895 |
Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 44,250 | 30,270 | |
Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 14,750 | 20,180 | |
Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | 23,100 | ||
Short-term employee benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 162,000 | 162,000 | 162,000 |
Short-term employee benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 150,000 | 150,000 | 145,625 |
Short-term employee benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | 0 | ||
Post- employment benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Post- employment benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Post- employment benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | 0 | ||
Other long- term benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Other long- term benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Other long- term benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | 0 | ||
Termination benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Termination benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Termination benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | 0 | ||
Share-based payments | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 59,000 | 30,270 |
Share-based payments | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | $ 0 | 44,250 | 30,270 |
Share-based payments | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
Share-based payments | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
Share-based payments | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 44,250 | 30,270 | |
Share-based payments | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 29,500 | 20,180 | |
Share-based payments | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 14,750 | $ 20,180 | |
Share-based payments | Sven Gollan Director | |||
Related Party Transaction, Amounts of Transaction | $ 23,100 |
9. RELATED PARTY TRANSACTIONS_4
9. RELATED PARTY TRANSACTIONS: Schedule of Related party transactions and balances (Details) - CAD ($) | 12 Months Ended | ||||
Sep. 30, 2023 | Sep. 30, 2022 | ||||
Due to related parties | $ 637,105 | $ 385,574 | |||
Jason Weber | |||||
Services | Consulting fee and share-based payment | ||||
Due to related parties | $ 56,700 | 0 | |||
Rob Duncan | |||||
Services | Consulting fee and share-based payment | ||||
Due to related parties | $ 49,679 | 0 | |||
Pacific Opportunity Capital Ltd. (a) | |||||
Services | [1] | Accounting, financing and shareholder communication services | |||
Due to related parties | $ 527,644 | [2] | 379,717 | [1] | |
Mark Brown | |||||
Services | Expenses reimbursement | ||||
Due to related parties | $ 3,082 | $ 5,857 | |||
[1]The president of Pacific Opportunity Capital Ltd., a private company, is a director of the Company.[2]Includes a $63,465 advance that is non-interest bearing without specific terms of repayment. |
10. SUPPLEMENTAL DISCLOSURE W_2
10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Details) - CAD ($) | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2021 | Sep. 30, 2022 | |
Details | |||
Exploration and evaluation asset costs included in accounts payable and accrued liabilities | $ 20,161 | $ 148,335 | $ 401,957 |
Exploration and evaluation asset costs included in Due to Related Parties | 19,447 | ||
Marketable securities related to the shares received | 12,000 | 267,500 | |
Proceeds from sale of marketable securities | $ 216,232 | ||
Advance for exploration and evaluation costs included in prepaid expenses | 20,398 | ||
Share issue costs included in Due to Related Parties | 32,750 | $ 32,750 | |
Share issue costs related to the issue of finder's warrants pursuant to the private placement financing completed | 153,927 | ||
Share capital recorded | 29,500 | ||
Share capital related to the reclassification of the fair values of finder's warrants exercised from reserves | $ 1,828 |
11. SEGMENTED INFORMATION_ Sc_2
11. SEGMENTED INFORMATION: Schedule of Geographical Segment Reporting Information (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Assets, Noncurrent | $ 6,963,060 | $ 7,161,421 |
UNITED STATES | ||
Assets, Noncurrent | 784,997 | 1,070,155 |
PERU | ||
Assets, Noncurrent | 0 | 41,186 |
CANADA | ||
Assets, Noncurrent | $ 6,178,063 | $ 6,050,080 |
12. INCOME TAXES_ Schedule of_2
12. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Details | ||
Loss before income taxes | $ (795,040) | $ (2,051,990) |
Expected income tax recovery | (216,000) | (571,000) |
Permanent differences | 7,000 | 91,000 |
Share issue costs | (35,000) | (38,000) |
Change in unrecognized deductible temporary differences | 244,000 | 518,000 |
Total deferred income tax (recovery) expense | $ 0 | $ 0 |
12. INCOME TAXES_ Schedule of_3
12. INCOME TAXES: Schedule of tax credits and unused tax losses (Details) - CAD ($) | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Exploration and evaluation assets | ||
Significant components of the Company temporary differences, unused tax credits and unused tax losses | $ (912,000) | $ (1,347,000) |
Expiry Date Range | No expiry date | No expiry date |
Property and equipment | ||
Significant components of the Company temporary differences, unused tax credits and unused tax losses | $ 14,000 | $ 14,000 |
Expiry Date Range | No expiry date | No expiry date |
Share issue costs | ||
Significant components of the Company temporary differences, unused tax credits and unused tax losses | $ 167,000 | $ 297,000 |
Expiry Date Range | 2024 to 2027 | 2023 to 2026 |
Allowable capital losses | ||
Significant components of the Company temporary differences, unused tax credits and unused tax losses | $ 3,793,000 | $ 3,762,000 |
Expiry Date Range | No expiry date | No expiry date |
Non-capital losses available for future periods | ||
Significant components of the Company temporary differences, unused tax credits and unused tax losses | $ 19,550,000 | $ 19,521,000 |
Expiry Date Range | 2027 to 2043 | 2026 to 2042 |
12. INCOME TAXES (Details)
12. INCOME TAXES (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 |
Details | ||
Obligation for future flowthrough expenditures | $ 0 | $ 50,654 |
13. FINANCIAL INSTRUMENTS (Deta
13. FINANCIAL INSTRUMENTS (Details) | 12 Months Ended |
Sep. 30, 2023 | |
Details | |
Description of Credit Risk Exposure | The Company’s credit risk is primarily attributable to the liquidity of its cash. The Company limits exposure to credit risk by maintaining its cash with a large Canadian financial institution |
Description of how entity manages liquidity risk that arises from contracts within scope of IFRS 17 | The Company ensures there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and the Company’s holdings of cash. The Company does not have sufficient cash to settle its current liabilities, and further funding will be required to meet the Company’s short-term and long-term operating needs. The Company manages liquidity risk through the management of its capital structure. |
Concentration Risk, Market Risk | As at September 30, 2023, the Company has no producing assets and holds the majority of its cash in secure, Canadian dollar-denominated deposits. Consequently, its exposure to these risks has been significantly reduced, but as the Company redeploys its cash, exposure to these risks may increase. The objective of the Company is to mitigate exposure to these risks while maximizing returns. |
Description of Interest Rate Risk Exposure | As at September 30, 2023, the Company’s exposure to movements in interest rates was limited to potential decreases in interest income from changes to the variable portion of interest rates for its cash. Market interest rates in Canada are at historically low levels, so management does not consider the risk of interest rate declines to be significant, but should such risks increase, the Company may mitigate future exposure by entering into fixed-rate deposits. A 1% change in the interest rate, with other variables unchanged, would not significantly affect the Company. |
Investment in Foreign Security, Foreign Currency Risk, Description | The Company is exposed to the financial risk related to the fluctuation of foreign exchange rates. The Company may maintain cash and other financial instruments, or may incur revenues and expenditures in currencies other than the Canadian dollar. Significant changes in the currency exchange rates between the Canadian dollar relative to these foreign currencies, which may include but are not limited to US dollars and Peruvian nuevo sol, could have an effect on the Company’s results of operations, financial position or cash flows. The Company has not hedged its exposure to currency fluctuations. |
Description of Price Risk Exposure | The ability of the Company to develop its mineral properties and the future profitability of the Company are directly related to the market price of minerals such as gold, zinc, lead and copper. The Company’s input costs are also affected by the price of fuel. The Company closely monitors mineral and fuel prices to determine the appropriate course of action to be taken by the Company. |
13. FINANCIAL INSTRUMENTS_ Sc_2
13. FINANCIAL INSTRUMENTS: Schedule of Financial Assets measured at fair value (Details) - CAD ($) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
Cash | $ 135,203 | $ 403,093 | $ 412,676 |
Restricted cash | 0 | 234,081 | $ 0 |
Fair Value, Inputs, Level 1 | |||
Cash | 135,203 | 403,093 | |
Restricted cash | 234,081 | ||
Fair Value, Inputs, Level 2 | |||
Cash | 0 | 0 | |
Restricted cash | 0 | ||
Fair Value, Inputs, Level 3 | |||
Cash | $ 0 | 0 | |
Restricted cash | $ 0 |
14. MANAGEMENT OF CAPITAL RISK
14. MANAGEMENT OF CAPITAL RISK (Details) | 12 Months Ended |
Sep. 30, 2023 | |
Details | |
Statutory Accounting Practices, Risk-Based Capital Requirements Compliance Assertion | The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the development of its mineral properties and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. |
15. CONTINGENT LIABILITIES (Det
15. CONTINGENT LIABILITIES (Details) | 12 Months Ended |
Sep. 30, 2023 CAD ($) | |
Details | |
Contingent Liability | $ 173,783 |
16. EVENT AFTER THE REPORTING_2
16. EVENT AFTER THE REPORTING PERIOD (Details) | 12 Months Ended | ||
Sep. 30, 2023 CAD ($) shares | Sep. 30, 2021 CAD ($) | Sep. 30, 2021 $ / shares shares | |
Major ordinary share transactions | |||
Finders Fees Paid | $ | $ 24,640 | ||
Finders Warrants Issued | shares | 123,200 | ||
Subsequent Event 1 | |||
Description of nature of non-adjusting event after reporting period | Company completed a non-brokered private placement in two tranches closing October 19, 2023 and December 28 | ||
Shares, Issued | shares | 2,700,000 | ||
Sale of Stock, Price Per Share | $ / shares | $ 0.2 | ||
Stock Issued | $ | $ 540,000 | ||
Subsequent Event 2 | |||
Shares, Issued | shares | 2,300,000 | ||
Sale of Stock, Price Per Share | $ / shares | $ 0.2 | ||
Stock Issued | $ | $ 460,000 |