Pershing Gold (PGLC) 10-K 28 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Mar. 27, 2018	Jun. 30, 2017
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	Pershing Gold Corp.
Entity Central Index Key	1,432,196
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 43.3
Trading Symbol	PGLC
Entity Common Stock, Shares Outstanding		33,629,260

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 12,858,873	$ 11,722,102
Prepaid expenses and other current assets	1,006,779	1,139,760
Deposit	27,884	0
Total Current Assets	13,893,536	12,861,862
NON - CURRENT ASSETS:
Property and equipment, net	3,303,366	4,310,980
Mineral rights	22,803,912	22,786,912
Restricted cash	3,690,000	2,250,000
Reclamation bond deposit	50,000	25,000
Other non-current assets	9,689	3,884
Total Non - Current Assets	29,856,967	29,376,776
Total Assets	43,750,503	42,238,638
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,651,461	2,150,195
Deferred rent - current portion	4,513	6,738
Deposit	1,750	0
Total Current Liabilities	1,657,724	2,156,933
LONG-TERM LIABILITIES:
Deposit	0	1,750
Deferred rent - long term portion	0	4,512
Asset retirement obligation	963,303	895,085
Total Liabilities	2,621,027	3,058,280
Commitments and Contingencies
STOCKHOLDERS' EQUITY :
Common stock ($0.0001 Par Value; 200,000,000 Shares Authorized; 33,544,125 and 28,389,378 shares issued and outstanding as of December 31, 2017 and 2016)	3,354	2,839
Additional paid-in capital	211,817,072	195,705,344
Accumulated deficit	(170,690,951)	(156,527,826)
Total Stockholders' Equity	41,129,476	39,180,358
Total Liabilities and Stockholders' Equity	43,750,503	42,238,638
Convertible Series A Preferred Stock
STOCKHOLDERS' EQUITY :
Preferred Stock, Value, Issued	0	0
Convertible Series B Preferred Stock
STOCKHOLDERS' EQUITY :
Preferred Stock, Value, Issued	0	0
Convertible Series C Preferred Stock
STOCKHOLDERS' EQUITY :
Preferred Stock, Value, Issued	0	0
Convertible Series D Preferred Stock
STOCKHOLDERS' EQUITY :
Preferred Stock, Value, Issued	0	0
Convertible Series E Preferred Stock
STOCKHOLDERS' EQUITY :
Preferred Stock, Value, Issued	$ 1	$ 1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	33,544,125	28,389,378
Common Stock, Shares, Outstanding	33,544,125	28,389,378
Convertible Series A Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	2,250,000	2,250,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Convertible Series B Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	8,000,000	8,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Convertible Series C Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	3,284,396	3,284,396
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Convertible Series D Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	7,500,000	7,500,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Convertible Series E Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	15,151	15,151
Preferred Stock, Shares Issued	8,946	8,946
Preferred Stock, Shares Outstanding	8,946	8,946
Preferred Stock, Liquidation Preference, Value	$ 9,742,194	$ 9,742,194

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net revenues	$ 0	$ 0
Operating expenses:
Compensation and related taxes	4,797,984	5,337,910
Exploration cost	1,219,608	3,913,699
Consulting fees	2,418,726	2,289,394
General and administrative expenses	4,287,909	4,091,967
Total operating expenses	12,724,227	15,632,970
Loss from operations	(12,724,227)	(15,632,970)
Other income (expenses):
Other income	9,673	0
Foreign currency gain (loss)	(10,029)	0
Interest expense and other finance costs	(380,987)	(5,406)
Interest income	11,069	2,801
Total other income (expenses) - net	(370,274)	(2,605)
Loss before provision for income taxes	(13,094,501)	(15,635,575)
Provision for income taxes	0	0
Net loss	(13,094,501)	(15,635,575)
Preferred deemed dividend	(1,068,624)	(3,599,565)
Net loss available to common stockholders	$ (14,163,125)	$ (19,235,140)
Net loss per common share, basic and diluted	$ (0.5)	$ (0.75)
Weighted average common shares outstanding - basic and diluted	28,567,344	25,483,353

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Preferred Stock - Series A	Preferred Stock - Series B	Preferred Stock - Series C	Preferred Stock - Series D	Preferred Stock - Series E
Balance at Dec. 31, 2015	$ 33,239,441	$ 2,173	$ 170,529,953	$ 0	$ (137,292,686)	$ 0	$ 0	$ 0	$ 0	$ 1
Balance (in shares) at Dec. 31, 2015		21,723,049				0	0	0	0	9,375
Issuance of common stock for cash	19,795,476	$ 654	19,794,822	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for cash (in shares)		6,544,412				0	0	0	0	0
Issuance of common stock in connection with the conversion of preferred stock	0	$ 13	(13)	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock in connection with the conversion of preferred stock (in shares)		130,669				0	0	0	0	(429)
Issuance of common stock for services	55,599	$ 1	55,598	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for services (In Shares)		15,323				0	0	0	0	0
Cancellation of common stock	0	$ (2)	2	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Cancellation of common stock (In shares)		(24,075)				0	0	0	0	0
Preferred stock deemed dividend	0	$ 0	3,599,565	0	(3,599,565)	$ 0	$ 0	$ 0	$ 0	$ 0
Stock-based compensation in connection with vested restricted common stock grants	1,725,417	0	1,725,417	0	0	0	0	0	0	0
Net loss	(15,635,575)	0	0	0	(15,635,575)	0	0	0	0	0
Balance at Dec. 31, 2016	39,180,358	$ 2,839	195,705,344	0	(156,527,826)	$ 0	$ 0	$ 0	$ 0	$ 1
Balance (in shares) at Dec. 31, 2016		28,389,378				0	0	0	0	8,946
Issuance of common stock for cash	13,193,831	$ 514	13,193,317	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for cash (in shares)		5,141,736				0	0	0	0	0
Issuance of common stock for services	0	$ 2	(2)	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for services (In Shares)		21,586				0	0	0	0	0
Issuance of common stock for payment of accounts payable	8,250	$ 0	8,250	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of common stock for payment of accounts payable (in shares)		2,351				0	0	0	0	0
Issuance of restricted common stock unit for accounts payable	65,000	$ 0	65,000	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of restricted common stock unit for services	68,002	$ 0	68,002	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Issuance of restricted common stock unit for services (in shares)		0				0	0	0	0	0
Stock-based compensation in connection with restricted common stock unit grants	1,110,111	$ 0	1,110,111	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Stock-based compensation in connection with stock warrant grants	86,899	0	86,899	0	0	0	0	0	0	0
Cancellation of common stock	0	$ (1)	1	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Cancellation of common stock (In shares)		(10,926)				0	0	0	0	0
Vested accrued RSU bonuses	511,526	$ 0	511,526	0	0	$ 0	$ 0	$ 0	$ 0	$ 0
Preferred stock deemed dividend	0	0	1,068,624	0	(1,068,624)	0	0	0	0	0
Net loss	(13,094,501)	0	0	0	(13,094,501)	0	0	0	0	0
Balance at Dec. 31, 2017	$ 41,129,476	$ 3,354	$ 211,817,072	$ 0	$ (170,690,951)	$ 0	$ 0	$ 0	$ 0	$ 1
Balance (in shares) at Dec. 31, 2017		33,544,125				0	0	0	0	8,946

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,094,501)	$ (15,635,575)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	1,071,942	1,097,066
Accretion	38,529	38,923
Stock-based compensation	1,260,179	2,311,410
Changes in operating assets and liabilities:
Other receivables	(9,689)	70,145
Prepaid expenses and other current assets	132,981	(240,532)
Accounts payable and accrued expenses	90,875	1,081,640
Deferred rent	(6,737)	(4,738)
Deposits	(24,000)	1,750
NET CASH USED IN OPERATING ACTIVITIES	(10,540,421)	(11,279,911)
CASH FLOWS FROM INVESTING ACTIVITIES:
Increase in reclamation bond deposits	(25,000)	0
Purchase of mineral rights	(17,000)	0
Purchase of property and equipment	(34,639)	(13,528)
NET CASH USED IN INVESTING ACTIVITIES	(76,639)	(13,528)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock, net of issuance costs	13,193,831	19,795,476
Payments on notes payable	0	(17,319)
NET CASH PROVIDED BY FINANCING ACTIVITIES	13,193,831	19,778,157
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	2,576,771	8,484,718
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - beginning of year	13,972,102	5,487,384
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - end of year	16,548,873	13,972,102
Cash paid for:
Interest	6,747	5,406
Income taxes	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Reduction of accrued bonuses in connection with vested restricted common stock unit grants	511,526	0
Reduction of accounts payable in connection with issuance of common stock	8,250	0
Reduction of accounts payable in connection with issuance of restricted stock unit grants	65,000	0
Preferred stock deemed dividend	1,068,624	3,599,565
Increase in asset retirement obligations	$ 29,689	$ 72,623

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 — ORGANIZATION AND DESCRIPTION OF BUSINESS Pershing Gold Corporation (the “Company”), formerly named Sagebrush Gold Ltd., was incorporated under the laws of the State of Nevada on August 2, 2007. The Company is a gold and precious metals exploration company pursuing exploration, development, and mining opportunities primarily in Nevada. The Company is currently focused on exploration of its Relief Canyon properties in Pershing County in northwestern Nevada. None of the Company’s properties contain proven and probable reserves, and the Company’s activities on all of its properties are exploratory in nature. On August 30, 2011, the Company, through its wholly-owned subsidiary, Gold Acquisition Corp. (“Gold Acquisition”), acquired the Relief Canyon Mine property (“Relief Canyon”) located in Pershing County, near Lovelock, Nevada. A wholly-owned subsidiary, Pershing Royalty Company, a Delaware corporation, was formed on May 17, 2012 to hold royalty interests in two gold exploration properties. On July 5, 2016, a wholly-owned subsidiary, Blackjack Gold Corporation, a Nevada corporation, was formed for potential purchases of exploration targets. On June 17, 2015, the Board of Directors of the Company approved a reverse stock split of the Company’s common stock, par value $ 0.0001 800,000,000 200,000,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and present the consolidated financial statements of the Company and its majority-owned subsidiaries as of December 31, 2017. In the preparation of the consolidated financial statements of the Company, intercompany transactions and balances have been eliminated. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet, and revenues and expenses for the period then ended. Actual results may differ significantly from those estimates. Significant estimates made by management include, but are not limited to, the useful life of property and equipment, the valuation of deferred tax assets and liabilities, including valuation allowance, amounts and timing of closure obligations, the assumptions used to calculate fair value of restricted stock units, options and warrants granted, stock-based compensation, beneficial conversion on preferred stock, capitalized mineral rights, asset valuations, timing of the performance criteria of restricted stock units and the fair value of common stock issued. Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassified amounts have no impact on the Company’s previously reported financial position or results of operations. The Company considers all highly liquid investments with an original maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 At December 31, 2017, the Company had bank balances exceeding the FDIC insurance limit on interest bearing accounts. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits. Restricted cash consists of cash which is held as collateral under surface management surety bonds issued on the Company’s behalf to cover its reclamation obligations. Once the reclamation is completed the surface management surety bonds will be released and the collateral will no longer be required. December 31, December 31, Cash and cash equivalents $ 12,858,873 $ 11,722,102 Restricted cash - non current 3,690,000 2,250,000 Total cash, cash equivalents and restricted cash $ 16,548,873 $ 13,972,102 The Company adopted Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position or operating results, but did expand certain disclosures. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their estimated fair market values based on the short-term maturity of these instruments. Prepaid expenses and other current assets of $ 1,006,779 1,139,760 0 312,415 374,240 Costs of leasing, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred as it is still in the exploration stage. Upon the completion of a final feasibility study indicating a mine is economically viable and a final decision to commence operating mine development activities to bring a mine into production, it would enter into the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production method over the estimated life of the proven and probable reserves. If in the future the Company has capitalized mineral properties, these properties will be periodically assessed for impairment. To date, the Company has not established the commercial feasibility of any exploration prospects; therefore, all exploration costs are being expensed. ASC 930-805, “Extractive Activities-Mining: Business Combinations” (“ASC 930-805”), states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights. Acquired mineral rights are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims. ASC 930-805-30-1 and 30-2 provide that, in fair valuing mineral assets, an acquirer should take into account both: · · Property and equipment are carried at cost. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets, generally one to twenty-five years. The Company accounts for the impairment or disposal of long-lived assets according to ASC 360, “Property, Plant and Equipment”. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of long-lived assets, including mineral rights, may not be recoverable. Long-lived assets in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the area, exploration reports, assays, technical reports, drill results and the Company’s continued plans to fund exploration programs on the property, and whether sufficient work has been performed to indicate that the carrying amount of the mineral property cost carried forward as an asset will not be fully recovered. The tests for long-lived assets in the exploration stage are monitored for impairment based on factors such as current market value of the long-lived assets and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset. When necessary, impaired assets are written down to estimated fair value based on the best information available. Estimated fair value is generally based on either appraised value or measured by discounting estimated future cash flows. Considerable management judgment is necessary to estimate discounted future cash flows. Accordingly, actual results could vary significantly from such estimates. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The Company did not record any impairment of its long-lived assets at December 31, 2017 and 2016, respectively. Asset retirement obligations (“ARO”), consisting primarily of estimated mine reclamation and closure costs at the Company’s Relief Canyon property, are recognized in the period incurred and when a reasonable estimate can be made, and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. Corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s remaining useful life. Asset retirement obligations are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of reclamation and closure costs. The Company reviews and evaluates its asset retirement obligations annually or more frequently at interim periods if deemed necessary. The Company accounts for income taxes pursuant to the provision of ASC 740-10, “Accounting for Income Taxes” (“ASC 740-10”), which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company follows the provision of ASC 740-10 related to Accounting for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company has adopted ASC 740-10-25, “Definition of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax returns of the Company are subject to examination by the IRS and state taxing authorities, generally for three years after they are filed. Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. Effective for the fiscal year-ended December 31, 2017, the Company early adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718)” (“ASU 2016-09”), which makes several modifications to Topic 718. Upon adoption of ASU 2016-09, the Company recognizes the effect of forfeitures in compensation cost as they occur, rather than estimating forfeitures as of the award date. Any previously recognized compensation cost will be reversed in the period of forfeiture. Pursuant to ASC Topic 505-50, “Equity Based Payments to Non-employees”, for share-based payments to consultants and other third-parties, compensation expense is determined at the measurement date. The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. The Company initially records compensation expense based on the fair value of the award at the reporting date. Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions. The Company accounts for foreign currency transactions in accordance with ASC 830, “Foreign Currency Matters” (“ASC 830”), specifically the guidance in subsection ASC 830-20, “Foreign Currency Transactions”. The U.S. dollar is the functional and reporting currency for the Company and its subsidiaries. Pursuant to ASC 830, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates in effect at the balance sheet date, with the resulting gains or losses upon settlement reported in foreign exchange gain (loss) in the computation of net income (loss). In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new guidance will be effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods and is applied retrospectively. Early adoption is permitted. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718)” (“ASU 2016-09”) as part of FASB's simplification initiative focused on improving areas of GAAP for which cost and complexity may be reduced while maintaining or improving the usefulness of information disclosed within the financial statements. ASU 2016-09 focuses on simplification specifically with regard to share-based payment transactions, including income tax consequences, classification of awards as equity or liabilities and classification on the statement of cash flows. The guidance in ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company’s adoption did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the FASB Emerging Issues Task Force)” (“ASU 2016-15”). ASU 2016-15 addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This guidance is effective for the Company beginning with its fiscal year beginning after December 15, 2017, and the interim periods within the fiscal year. The Company adopted the guidance on January 1, 2018 and does not believe it will have a material impact on its consolidated financial statements for fiscal years beginning after December 15, 2017 and the interim periods within those fiscal years. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” or ASU 2016-18. ASU 2016-18 is intended to clarify how entities present restricted cash in the statement of cash flows. The guidance requires entities to show the changes in the total of cash and cash equivalents and restricted cash in the statement of cash flows. As a result, entities will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows. When cash and cash equivalents and restricted cash are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and is to be applied retrospectively. Early adoption is permitted, including adoption in an interim period. The Company early adopted ASU 2016-18 for the three-month period-ended December 31, 2017 and its adoption did not have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, which eliminates Step 2 from the goodwill impairment test. When an indication of impairment was identified after performing the first step of the goodwill impairment test, Step 2 required that an entity determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) using the same procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under the amendments in ASU No. 2017-04, an entity would perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value. An entity would recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. In addition, an entity must consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. A public business entity that is a SEC filer should adopt the amendments in ASU No. 2017-04 for its annual, or any interim, good will impairment tests in fiscal years beginning after December 15, 2019. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In July 2017, the FASB issued ASU 2017-11 “Earnings Per Share (Topic 260)”. The amendments in the update change the classification of certain equity-linked financial instruments (or embedded features) with down round features. The amendments also clarify existing disclosure requirements for equity-classified instruments. For freestanding equity-classified financial instruments, the amendments require entities that present earnings per share (“EPS”) in accordance with Topic 260, Earnings Per Share, to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features would be subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). For public business entities, the amendments in Part I of this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not believe the guidance will have a material impact on its consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Dec. 31, 2017
Mineral Industries Disclosures [Abstract]
MINERAL PROPERTIES	NOTE 3 — MINERAL PROPERTIES The Company’s Relief Canyon property rights currently total approximately 29,000 1,056 120 143 4,127 3,739 2 4.5 2 5 Pershing Pass Property The Pershing Pass property consists of over 765 12,900 635 17 2 19 The primary term of the mining lease of private lands is ten years ending in January 2023, which may be extended as long as mineral exploration, development or mining continue on the property. Production from the private lands covered by the lease is subject to a 2% net smelter return royalty on all metals produced other than gold, and to a royalty on gold indexed to the gold price, ranging from 2% at gold prices of less than $ 500 3.5 1,500 600,000 In September 2013, the Company entered into a lease agreement and purchase option for 19 unpatented mining claims (approximately 400 acres) in the Pershing Pass Property. Production from the lease is subject to a 1 0.5 10,000 12,500 15,000 20,000 250,000 Coal Canyon Property In December 2017, the Company entered into two mining leases at Coal Canyon, which is west of the Relief Canyon Mine. One such mining lease with Good Springs Exploration, LLC and Clancy Wendt (collectively “Lessor”) covers 43 800 20,000 50,000 3 350,000 A second mining lease with New Nevada Resources, LLC and New Nevada Lands, LLC (collectively “Owner”) covers 1,899 10 25 3 1 500 Newmont Properties On April 5, 2012, the Company purchased from Victoria Gold Corp. and Victoria Resources (US) Inc. (collectively, “Victoria”) their interest in approximately 13,300 Approximately 8,900 155 2,800 4,900 62 On January 14, 2015, the Company entered into an Asset Purchase Agreement with Newmont (the “Asset Purchase Agreement”) pursuant to which the Company acquired for $ 6.0 74 1,300 1,600 As part of the January 2015 transactions completed pursuant to the Asset Purchase Agreement, a subsidiary of the Company entered into a Mining Lease (the “2015 Mining Lease”) with New Nevada Resources, LLC and New Nevada Lands, LLC (the “Owners”), covering certain fee lands (the “Leased Properties”) included in the Company’s Relief Canyon properties. The 2015 Mining Lease has a term of twenty years and for as long thereafter as any mining, development or processing operations are being conducted on a continuous basis. The 2015 Mining Lease contains customary terms and conditions, including an advance royalty and a 2.5 Newmont Leased Property As part of the Asset Purchase Agreement transactions, Newmont and the Company entered into an amendment of the 2006 Minerals Lease and Sublease (the “Third Amendment”), pursuant to which the Company agreed to a $ 2.6 10.00 500,000 2.9 2.3 Also as part of the transactions completed pursuant to the Asset Purchase Agreement, Newmont and the Owners entered into a new Mining Lease (the “2015 Newmont Lease”) covering about 2,770 On March 29, 2017, the Company entered into a Mining Sublease with Newmont granting the Company the exclusive right to prospect, explore for, develop, and mine minerals on certain lands within the Pershing Pass area south of the Relief Canyon Mine. The Mining Sublease has an initial term of ten years and may be extended by the Company until December 3, 2034 and so long thereafter as any mining, development, or processing operations are being conducted continuously. The Mining Sublease calls for the Company to make minimum work expenditures for the first four years of the Mining Sublease, followed by annual advanced minimum royalty payments to Newmont to maintain the Mining Sublease in good standing. The Sublease may be terminated any time after providing 90 days written notice of termination. If the required minimum work commitment of $ 500,000 500,000 260,000 1.5 General As of December 31, 2017, the Company had posted statewide surface management surety bonds with the United States Department of the Interior Bureau of Land Management (“BLM”) as required by the State of Nevada in the amount of approximately $ 12.3 76,000 3,690,000 200,000 12.5 As of December 31, 2017, based on management’s review of the carrying value of mineral rights, management determined that there is no evidence that the cost of these acquired mineral rights will not be fully recovered and accordingly, the Company determined that no adjustment to the carrying value of mineral rights was required. As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and has incurred only acquisition and exploration costs. December 31, December 31, Relief Canyon Mine — Gold Acquisition $ 8,501,071 $ 8,501,071 Relief Canyon Mine — Newmont Properties 13,709,441 13,709,441 Pershing Pass Property 593,400 576,400 $ 22,803,912 $ 22,786,912

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 — PROPERTY AND EQUIPMENT Estimated Life December 31, December 31, Furniture and fixtures 5 years $ 56,995 $ 56,995 Office and computer equipment 1 - 5 years 434,563 416,363 Land — 358,886 358,886 Building and improvements 5 - 25 years 823,131 820,182 Site costs 10 years 1,417,704 1,412,624 Crushing system 20 years 2,514,021 2,505,012 Process plant and equipment 10 years 3,530,460 3,517,809 Vehicles and mining equipment 5 - 10 years 605,824 699,025 9,741,584 9,786,896 Less: accumulated depreciation (6,438,218) (5,475,916) $ 3,303,366 $ 4,310,980 For the year ended December 31, 2017 and 2016, depreciation expense amounted to $ 1,071,942 1,097,066 109,640

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	12 Months Ended
	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONS	NOTE 5 — ASSET RETIREMENT OBLIGATIONS In conjunction with the permit approval permitting the Company to resume mining in the existing open pits at the Relief Canyon Mine during the third quarter of 2014, the Company has recorded an asset retirement obligation based upon the reclamation plan submitted in connection with the permit. The following table summarizes activity in the Company’s ARO: December 31, December 31, Balance, beginning of period $ 895,085 $ 783,539 Accretion expense 38,529 38,923 Reclamation obligations settled - - Additions and changes in estimates 29,689 72,623 Balance, end of period $ 963,303 $ 895,085

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6 — STOCKHOLDERS’ EQUITY On June 17, 2015, the Board of Directors of the Company approved a reverse stock split of the Company’s Common Stock at a ratio of 1-for-18 (the “Reverse Stock Split”) which became effective on June 18, 2015. In connection with the Reverse Stock Split, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation, as amended, with the Nevada Secretary of State to reduce the number of shares of Common Stock the Company is authorized to issue from 800,000,000 200,000,000 Preferred Stock The Company is authorized within the limitations and restrictions stated in the Amended and Restated Articles of Incorporation to provide by resolution or resolutions for the issuance of 50,000,000 0.0001 Series A Convertible Preferred Stock As of December 31, 2017 and 2016, 2,250,000 0.0001 Series B Convertible Preferred Stock As of December 31, 2017 and 2016, 8,000,000 0.0001 Series C Convertible Preferred Stock As of December 31, 2017 and 2016, 3,284,396 0.0001 9% Series D Cumulative Preferred Stock As of December 31, 2017 and 2016, 7,500,000 0.0001 Series E Convertible Preferred Stock As of December 31, 2017 and 2016, 15,151 0.0001 8,946 During February 2016, a holder of Series E Preferred Stock converted one Series E share into 292 During March 2016, a holder of Series E Preferred Stock converted 100 30,461 During June 2016, holders of Series E Preferred Stock converted 328 99,916 Preferred Deemed Dividend In connection with the February 4, 2016 private placement of shares of the Company’s Common Stock, the conversion price for the Series E Preferred Stock was reduced effective February 4, 2016 from $ 5.04 3.40 990.00 291.176 9,375 2,729,780 1,841,528 3.02 Additionally, in connection with the February 25, 2016 private placement of shares of the Company’s Common Stock and warrants to purchase shares of the Company’s Common Stock, the conversion price for the Series E Preferred Stock was further reduced effective February 25, 2016 from $ 3.40 3.25 990.00 304.615 9,374 2,855,469 2,729,489 580,000 In connection with the December 19, 2017 Public Offering and Private Placement of shares of the Company’s Common Stock, the conversion price for the Series E Preferred Stock was reduced effective December 19, 2017 from $ 3.25 2.80 990.00 353.571 8,946 3,163,051 2,725,089 1.07 Common Stock Sale of Common Stock On February 4, 2016, the Company issued 367,647 1.25 On February 25, 2016, the Company issued 2,120,882 0.5 5.06 2,120,882 1,060,429 6.9 6.1 On March 28, 2016, the Company issued 1,850,000 0.5 4.35 1,850,000 925,000 6.0 In connection with these private placements, certain FINRA broker-dealers acted on behalf of the Company and were paid aggregate cash commissions of approximately $ 695,000 25,000 261,590 5.06 Additionally, the Company paid a total of approximately $ 229,000 On December 2, 2016, the Company entered into an Underwriting Agreement (the “Underwriting Agreement”) with Laidlaw & Company (UK) Ltd. (“Laidlaw” or the “Underwriter”) pursuant to which, among other things, the Company agreed to issue and sell to the Underwriter, in an underwritten public offering (the “Offering”), an aggregate of 2,205,883 3.40 Net proceeds from the Offering were approximately $ 6.6 859,000 On December 11, 2017, the Company entered into an Underwriting Agreement by and among the Company and the underwriters named therein (the “Underwriters”), for whom Canaccord Genuity Corp., BMO Nesbitt Burns Inc., and Cantor Fitzgerald Canada Corporation are acting as representatives, relating to the issuance and sale (the “Public Offering”) of 2,430,000 972,000 2.80 364,500 2.468 145,800 0.136 145,800 2,794,500 1,117,800 7.8 6.5 On December 19, 2017, the Company issued an aggregate of 2,347,236 0.40 3.40 2,347,236 938,891 6.8 Common stock for services In March 2016, the Company issued an aggregate of 9,480 3.70 3.90 35,599 In May 2016, the Company issued an aggregate of 4,843 4.12 20,000 In December 2016, the Company issued 1,000 1,000 2,000 11,111 12,964 Restricted Stock Units In June 2016, 120,000 702,000 On June 24, 2016, the Company granted 5,995 25,239 In February 2017, the Company granted an aggregate of 116,229 382,000 50 In March 2017, the Company granted 50,000 149,500 As of December 31, 2016, the Company recognized a liability equivalent to the fair value of approximately $ 530,000 In February 2017, the Company granted 25,000 80,000 Between February 2017 and March 2017, the Company issued 5,591 5,591 3,759 10,926 In April 2017, the Company converted 15,995 15,995 Between April 2017 and December 2017, the Company issued 2,351 41,201 73,250 68,000 In October 2017, the Company granted 8,621 25,000 As of December 31, 2017 and 2016, the Company recognized a liability for employee and director bonus compensation related to restricted stock unit grants with a fair value of approximately $ 59,000 530,000 511,527 73,000 During the year ended December 31, 2017 and 2016, the Company recorded total stock-based compensation expense in connection with restricted stock and restricted stock unit awards of $ 1,110,111 2,255,811 1,861,521 Restricted Weighted Balance at December 31, 2015 842,770 $ 5.60 Granted 5,995 4.21 Vested and converted (1,000) 3.50 Forfeited (2,000) 3.50 Balance at December 31, 2016 845,765 5.68 Granted 241,051 3.19 Vested and converted (21,586) 3.55 Forfeited (3,759) 3.41 Balance at December 31, 2017 1,061,471 $ 5.17 Common Stock Options Number of Weighted Weighted Average Balance at December 31, 2015 1,811,121 $ 7.20 6.15 Granted — — — Exercised — — — Forfeited (16,668) 7.20 — Cancelled — — — Balance at December 31, 2016 1,794,453 7.21 5.20 Granted — — — Exercised — — — Forfeited — — — Cancelled — — — Balance outstanding at December 31, 2017 1,794,453 $ 7.21 4.20 Options exercisable at end of year 1,794,453 $ 7.21 Options expected to vest — Weighted average fair value of options granted during the period $ — As of December 31, 2017, the Company recognized a liability for employee bonus compensation related to stock options granted in January 2018 with a grant-date fair value of approximately $520,000, which was included in accounts payable and accrued expenses. In January 2018, the Company granted 436,000 10-year option to purchase shares of Common Stock at an exercise price of $2.80. The stock options granted to employees vest one-third on January 29, 2018, 2019 and 2020. The 436,000 options were valued on the grant date at approximately $1.19 per option or a total of approximately $520,000 using a Black-Scholes option pricing model with the following assumptions: stock price of $2.36 per share (based on the sale of its common stock stock in a private placement at $2.80), volatility of 41%, expected term of 10 years, and a risk free interest rate of 2.70%. Consequently, the Company recognized stock based compensation of approximately $520,000 during the year ended December 31, 2017, in connection with these transactions. As of December 31, 2017, the remaining balance of unvested stock options related to fiscal year 2017 bonus compensations amounted to approximately $520,000. Common Stock Warrants Number of Weighted Average Weighted Balance at December 31, 2015 2,810,579 7.55 1.07 Granted 2,247,019 7.62 2.50 Cancelled (746,432) 7.20 — Forfeited — — — Exercised — — — Balance at December 31, 2016 4,311,166 $ 6.16 0.98 Granted 2,156,691 3.40 2.00 Cancelled (2,033,590) 7.68 — Forfeited — — — Exercised — — — Balance at December 31, 2017 4,434,267 $ 4.12 1.29 Warrants exercisable at December 31, 2017 4,434,267 $ 4.12 1.29 Weighted average fair value of warrants granted during the year ended December 31, 2017 $ 3.40 On February 25, 2016, the Company granted 1,060,429 5.06 August 25, 2018 261,590 5.06 On March 28, 2016, the Company granted 925,000 4.35 In February 2017, the Company granted 100,000 24-month warrants to purchase shares of Common Stock at an exercise price of $3.45 per share in connection with a contract for services. The warrants vest ratably over the 6-month term of the services agreement. The 100,000 warrants were valued on the grant date at approximately $0.87 per option or a total of approximately $87,000 using a Black-Scholes option pricing model with the following assumptions: stock price of $3.32 per share (based on the quoted trading price on the dates of grants), volatility of 48%, expected term of 10 years, and a risk free interest rate of 1.17%.During the year ended December 31, 2017, the Company recorded total stock-based compensation expense of $86,899 in connection with this stock warrant grant. Between January 2017 and October 2017, 2,033,590 warrants to purchase shares of the Company’s Common Stock were forfeited as the warrants were not exercised prior to their expiration date. On December 19, 2017, the Company granted 2,056,691 24-month warrants to purchase shares of Common Stock at an exercise price of $3.40 per share in connection with December 19, 2017 Public Offering and Private Placement.

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
NET LOSS PER COMMON SHARE	NOTE 7 — NET LOSS PER COMMON SHARE Net loss per common share is calculated in accordance with ASC Topic 260, “Earnings Per Share”. Basic loss per share is computed by dividing net loss available to common stockholder, adjusted for preferred dividends, by the weighted average number of shares of Common Stock outstanding during the period. The computation of diluted net loss per share does not include anti-dilutive Common Stock equivalents in the weighted average shares outstanding. The following table sets forth the computation of basic and diluted loss per share: For the Year ended For the Numerator: Net loss available to common stockholders $ (14,163,125) $ (19,235,140) Denominator: Denominator for basic and diluted loss per share (weighted-average shares) 28,567,344 25,483,353 Net loss per common share, basic and diluted $ (0.50) $ (0.75) The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. In periods where the Company has a net loss, all dilutive securities are excluded. December 31, December 31, Common stock equivalents: Stock options 1,794,453 1,794,453 Stock warrants 4,434,267 4,311,166 Restricted stock units 1,061,471 848,765 Convertible preferred stock 3,163,051 2,725,092 Total 10,453,242 9,679,476

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 — COMMITMENTS AND CONTINGENCIES Operating Leases The Company leases its corporate facility and certain office equipment under operating leases with expiration dates through 2021. In April 2015, the Company executed a new operating lease agreement for its corporate facility in Lakewood, Colorado. The lease is for a period of 39 6,447 51,224 63,770 2018 $ 52,895 2019 7,440 2020 7,440 2021 620 $ 68,395 Mining Leases 2018 $ 78,994 2019 98,491 2020 137,485 2021 137,485 2022 142,485 Thereafter 937,290 $ 1,532,230 Credit Facility On November 29, 2016, the Company entered into a non-binding term sheet with Sprott Resource Lending (the “Lender”) pursuant to which the Lender would provide a credit facility with a principal amount of up to $ 20 9.0 200,000 105,000 69,240 As of December 31, 2017, the Company determined that the financing would not be completed. Accordingly, the Company has reclassified $ 374,240

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 — INCOME TAXES The Company accounts for income taxes under ASC Topic 740: Income Taxes which requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carryforwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets. The Company has a net operating loss carryforward for tax purposes totaling approximately $ 75.7 December 31, December 31, Tax benefit computed at “expected” statutory rate $ (4,452,130) $ (5,316,096) State income taxes, net of benefit — — Permanent differences: Stock based compensation and consulting 199,654 629,133 Other 7,888 155,300 Change in Tax Rates 14,086,726 — Increase (decrease) in valuation allowance (9,842,138) 4,531,663 Net income tax benefit $ — $ — December 31, December 31, Computed “expected” tax expense (benefit) (34.0) % (34.0) % State income taxes 0 % 0 % Permanent differences 1.58 % 5.02 % Change in Tax Rates 107.58 % — % Change in valuation allowance (75.16) % 28.98 % Effective tax rate 0.0 % 0.0 % On December 22, 2017 the United States (“U.S.”) Government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act establishes new tax laws effective January 1, 2018 including but not limited to, (1) reduction of U.S. federal corporate tax rate to 21 percent; (2) the elimination of the corporate alternative minimum tax (AMT) and refunding of existing AMT credit carryforwards ; (3) limitations on deductible interest expense; (4) the repeal of the of the domestic production activity deduction (DPAD); and (5) limitations on net operating losses (NOL’s) generated after December 31, 2017 to 80 percent of taxable income. The NOL’s generated in 2018 and beyond are to be carried forward indefinitely with no carryback. The Company is subject to the provisions of ASC 740-10 which requires that the effect on deferred tax assets and liabilities of a change in tax rates be recognized in the period the tax rate change was enacted. The carrying value of our U.S. deferred taxes is determined by the enacted U.S. corporate income tax rate. Consequently, the reduction in the U.S. corporate income tax rate impacts the carrying value of our deferred tax assets. Under the new corporate income tax rate of 21 The Company has not completed its assessment for the income tax effects of the Tax Act but has recorded reasonable estimates of the effects. Further analysis could potentially affect the measurement of deferred tax balances or potentially give rise to new deferred tax amounts. The Company has a deferred tax asset which is summarized as follows at December 31, 2017 and 2016: December 31, December 31, Net operating loss carryover $ 15,896,934 $ 21,486,659 Stock based compensation 2,782,257 4,422,167 Depreciable and depletable assets (16,203) (212,727) Mining explorations 3,144,263 5,390,018 Capital loss carryforward 915,886 1,482,865 Other 32,346 28,639 Less: valuation allowance (22,755,483) (32,597,621) Net deferred tax asset $ — $ — After consideration of all the evidence, both positive and negative, management has recorded a full valuation allowance at December 31, 2017, due to the uncertainty of realizing the deferred income tax assets. The valuation allowance was decreased by approximately $ 9.8

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 — SUBSEQUENT EVENTS During February 2018, the Company accelerated the vesting of 18,518 restricted stock units granted to one of its board members that resigned effective February 23, 2018. After the acceleration, the Company converted 85,135 vested restricted stock units into 85,135 shares of the Company’s Common Stock due to the resignation of one of the members of the board of directors. During February 2018, the Company increased its statewide surface management surety bonds by $200,000 for total coverage of $12.5 million. No additional collateral was required. See Note 3.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of presentation and principles of consolidation	Basis of presentation and principles of consolidation The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and present the consolidated financial statements of the Company and its majority-owned subsidiaries as of December 31, 2017. In the preparation of the consolidated financial statements of the Company, intercompany transactions and balances have been eliminated.
Use of estimates	Use of estimates In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet, and revenues and expenses for the period then ended. Actual results may differ significantly from those estimates. Significant estimates made by management include, but are not limited to, the useful life of property and equipment, the valuation of deferred tax assets and liabilities, including valuation allowance, amounts and timing of closure obligations, the assumptions used to calculate fair value of restricted stock units, options and warrants granted, stock-based compensation, beneficial conversion on preferred stock, capitalized mineral rights, asset valuations, timing of the performance criteria of restricted stock units and the fair value of common stock issued.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassified amounts have no impact on the Company’s previously reported financial position or results of operations.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments with an original maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 At December 31, 2017, the Company had bank balances exceeding the FDIC insurance limit on interest bearing accounts. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits.
Restricted cash	Restricted cash – non current Restricted cash consists of cash which is held as collateral under surface management surety bonds issued on the Company’s behalf to cover its reclamation obligations. Once the reclamation is completed the surface management surety bonds will be released and the collateral will no longer be required. December 31, December 31, Cash and cash equivalents $ 12,858,873 $ 11,722,102 Restricted cash - non current 3,690,000 2,250,000 Total cash, cash equivalents and restricted cash $ 16,548,873 $ 13,972,102
Fair value of financial instruments	Fair value of financial instruments The Company adopted Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position or operating results, but did expand certain disclosures. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their estimated fair market values based on the short-term maturity of these instruments.
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets Prepaid expenses and other current assets of $ 1,006,779 1,139,760 0 312,415 374,240
Mineral property acquisition and exploration costs	Mineral property acquisition and exploration costs Costs of leasing, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred as it is still in the exploration stage. Upon the completion of a final feasibility study indicating a mine is economically viable and a final decision to commence operating mine development activities to bring a mine into production, it would enter into the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs are amortized using the units-of-production method over the estimated life of the proven and probable reserves. If in the future the Company has capitalized mineral properties, these properties will be periodically assessed for impairment. To date, the Company has not established the commercial feasibility of any exploration prospects; therefore, all exploration costs are being expensed. ASC 930-805, “Extractive Activities-Mining: Business Combinations” (“ASC 930-805”), states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights. Acquired mineral rights are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims. ASC 930-805-30-1 and 30-2 provide that, in fair valuing mineral assets, an acquirer should take into account both: · ·
Property and equipment	Property and equipment Property and equipment are carried at cost. The cost of repairs and maintenance is expensed as incurred; major replacements and improvements are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are included in income in the year of disposition. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets, generally one to twenty-five years.
Impairment of long-lived assets	The Company accounts for the impairment or disposal of long-lived assets according to ASC 360, “Property, Plant and Equipment”. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of long-lived assets, including mineral rights, may not be recoverable. Long-lived assets in the exploration stage are monitored for impairment based on factors such as the Company’s continued right to explore the area, exploration reports, assays, technical reports, drill results and the Company’s continued plans to fund exploration programs on the property, and whether sufficient work has been performed to indicate that the carrying amount of the mineral property cost carried forward as an asset will not be fully recovered. The tests for long-lived assets in the exploration stage are monitored for impairment based on factors such as current market value of the long-lived assets and results of exploration, future asset utilization, business climate, mineral prices and future undiscounted cash flows expected to result from the use of the related assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated future net undiscounted cash flows expected to be generated by the asset. When necessary, impaired assets are written down to estimated fair value based on the best information available. Estimated fair value is generally based on either appraised value or measured by discounting estimated future cash flows. Considerable management judgment is necessary to estimate discounted future cash flows. Accordingly, actual results could vary significantly from such estimates. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The Company did not record any impairment of its long-lived assets at December 31, 2017 and 2016, respectively.
Asset Retirement Obligations	Asset Retirement Obligations Asset retirement obligations (“ARO”), consisting primarily of estimated mine reclamation and closure costs at the Company’s Relief Canyon property, are recognized in the period incurred and when a reasonable estimate can be made, and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. Corresponding asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s remaining useful life. Asset retirement obligations are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of reclamation and closure costs. The Company reviews and evaluates its asset retirement obligations annually or more frequently at interim periods if deemed necessary.
Income taxes	Income taxes The Company accounts for income taxes pursuant to the provision of ASC 740-10, “Accounting for Income Taxes” (“ASC 740-10”), which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company follows the provision of ASC 740-10 related to Accounting for Uncertain Income Tax Positions. When tax returns are filed, there may be uncertainty about the merits of positions taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured at the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefit associated with tax positions taken that exceed the amount measured as described above should be reflected as a liability for uncertain tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company has adopted ASC 740-10-25, “Definition of Settlement”, which provides guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing previously unrecognized tax benefits and provides that a tax position can be effectively settled upon the completion and examination by a taxing authority without being legally extinguished. For tax positions considered effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open. The federal and state income tax returns of the Company are subject to examination by the IRS and state taxing authorities, generally for three years after they are filed.
Stock-based compensation	Stock-based compensation Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718, “Compensation — Stock Compensation” (“ASC 718”), which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee or director is required to perform the services in exchange for the award (presumptively, the vesting period). ASC 718 also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. Effective for the fiscal year-ended December 31, 2017, the Company early adopted ASU 2016-09, “Compensation - Stock Compensation (Topic 718)” (“ASU 2016-09”), which makes several modifications to Topic 718. Upon adoption of ASU 2016-09, the Company recognizes the effect of forfeitures in compensation cost as they occur, rather than estimating forfeitures as of the award date. Any previously recognized compensation cost will be reversed in the period of forfeiture. Pursuant to ASC Topic 505-50, “Equity Based Payments to Non-employees”, for share-based payments to consultants and other third-parties, compensation expense is determined at the measurement date. The expense is recognized over the vesting period of the award. Until the measurement date is reached, the total amount of compensation expense remains uncertain. The Company initially records compensation expense based on the fair value of the award at the reporting date.
Related party transaction	Related party transaction Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions.
Foreign currency transaction	Foreign currency transactions The Company accounts for foreign currency transactions in accordance with ASC 830, “Foreign Currency Matters” (“ASC 830”), specifically the guidance in subsection ASC 830-20, “Foreign Currency Transactions”. The U.S. dollar is the functional and reporting currency for the Company and its subsidiaries. Pursuant to ASC 830, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars at exchange rates in effect at the balance sheet date, with the resulting gains or losses upon settlement reported in foreign exchange gain (loss) in the computation of net income (loss).
Recent accounting pronouncements	Recent accounting pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new guidance will be effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods and is applied retrospectively. Early adoption is permitted. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718)” (“ASU 2016-09”) as part of FASB's simplification initiative focused on improving areas of GAAP for which cost and complexity may be reduced while maintaining or improving the usefulness of information disclosed within the financial statements. ASU 2016-09 focuses on simplification specifically with regard to share-based payment transactions, including income tax consequences, classification of awards as equity or liabilities and classification on the statement of cash flows. The guidance in ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted. The Company’s adoption did not have a material impact on the Company’s consolidated results of operations, financial position and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the FASB Emerging Issues Task Force)” (“ASU 2016-15”). ASU 2016-15 addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This guidance is effective for the Company beginning with its fiscal year beginning after December 15, 2017, and the interim periods within the fiscal year. The Company adopted the guidance on January 1, 2018 and does not believe it will have a material impact on its consolidated financial statements for fiscal years beginning after December 15, 2017 and the interim periods within those fiscal years. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” or ASU 2016-18. ASU 2016-18 is intended to clarify how entities present restricted cash in the statement of cash flows. The guidance requires entities to show the changes in the total of cash and cash equivalents and restricted cash in the statement of cash flows. As a result, entities will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows. When cash and cash equivalents and restricted cash are presented in more than one line item on the balance sheet, the new guidance requires a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet. This reconciliation can be presented either on the face of the statement of cash flows or in the notes to the financial statements. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 and is to be applied retrospectively. Early adoption is permitted, including adoption in an interim period. The Company early adopted ASU 2016-18 for the three-month period-ended December 31, 2017 and its adoption did not have a material impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, which eliminates Step 2 from the goodwill impairment test. When an indication of impairment was identified after performing the first step of the goodwill impairment test, Step 2 required that an entity determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) using the same procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under the amendments in ASU No. 2017-04, an entity would perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value. An entity would recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. In addition, an entity must consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. A public business entity that is a SEC filer should adopt the amendments in ASU No. 2017-04 for its annual, or any interim, good will impairment tests in fiscal years beginning after December 15, 2019. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In July 2017, the FASB issued ASU 2017-11 “Earnings Per Share (Topic 260)”. The amendments in the update change the classification of certain equity-linked financial instruments (or embedded features) with down round features. The amendments also clarify existing disclosure requirements for equity-classified instruments. For freestanding equity-classified financial instruments, the amendments require entities that present earnings per share (“EPS”) in accordance with Topic 260, Earnings Per Share, to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features would be subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). For public business entities, the amendments in Part I of this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not believe the guidance will have a material impact on its consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	December 31, December 31, Cash and cash equivalents $ 12,858,873 $ 11,722,102 Restricted cash - non current 3,690,000 2,250,000 Total cash, cash equivalents and restricted cash $ 16,548,873 $ 13,972,102

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2017
Mineral Industries Disclosures [Abstract]
Mineral Property	Mineral properties consisted of the following: December 31, December 31, Relief Canyon Mine — Gold Acquisition $ 8,501,071 $ 8,501,071 Relief Canyon Mine — Newmont Properties 13,709,441 13,709,441 Pershing Pass Property 593,400 576,400 $ 22,803,912 $ 22,786,912

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property and equipment consisted of the following: Estimated Life December 31, December 31, Furniture and fixtures 5 years $ 56,995 $ 56,995 Office and computer equipment 1 - 5 years 434,563 416,363 Land — 358,886 358,886 Building and improvements 5 - 25 years 823,131 820,182 Site costs 10 years 1,417,704 1,412,624 Crushing system 20 years 2,514,021 2,505,012 Process plant and equipment 10 years 3,530,460 3,517,809 Vehicles and mining equipment 5 - 10 years 605,824 699,025 9,741,584 9,786,896 Less: accumulated depreciation (6,438,218) (5,475,916) $ 3,303,366 $ 4,310,980

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligations	The following table summarizes activity in the Company’s ARO: December 31, December 31, Balance, beginning of period $ 895,085 $ 783,539 Accretion expense 38,529 38,923 Reclamation obligations settled - - Additions and changes in estimates 29,689 72,623 Balance, end of period $ 963,303 $ 895,085

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Summary of the outstanding restricted stock	A summary of the status of the restricted stock units as of December 31, 2017 and 2016 and of changes in restricted stock units outstanding during the period presented below: Restricted Weighted Balance at December 31, 2015 842,770 $ 5.60 Granted 5,995 4.21 Vested and converted (1,000) 3.50 Forfeited (2,000) 3.50 Balance at December 31, 2016 845,765 5.68 Granted 241,051 3.19 Vested and converted (21,586) 3.55 Forfeited (3,759) 3.41 Balance at December 31, 2017 1,061,471 $ 5.17
Summary of the outstanding stock options	A summary of the Company’s stock options as of December 31, 2017 and 2016 and changes during the period presented below: Number of Weighted Weighted Average Balance at December 31, 2015 1,811,121 $ 7.20 6.15 Granted — — — Exercised — — — Forfeited (16,668) 7.20 — Cancelled — — — Balance at December 31, 2016 1,794,453 7.21 5.20 Granted — — — Exercised — — — Forfeited — — — Cancelled — — — Balance outstanding at December 31, 2017 1,794,453 $ 7.21 4.20 Options exercisable at end of year 1,794,453 $ 7.21 Options expected to vest — Weighted average fair value of options granted during the period $ —
Summary of the outstanding stock warrants	A summary of the Company’s outstanding stock warrants as of December 31, 2017 and 2016 and changes during the period presented below: Number of Weighted Average Weighted Balance at December 31, 2015 2,810,579 7.55 1.07 Granted 2,247,019 7.62 2.50 Cancelled (746,432) 7.20 — Forfeited — — — Exercised — — — Balance at December 31, 2016 4,311,166 $ 6.16 0.98 Granted 2,156,691 3.40 2.00 Cancelled (2,033,590) 7.68 — Forfeited — — — Exercised — — — Balance at December 31, 2017 4,434,267 $ 4.12 1.29 Warrants exercisable at December 31, 2017 4,434,267 $ 4.12 1.29 Weighted average fair value of warrants granted during the year ended December 31, 2017 $ 3.40

NET LOSS PER COMMON SHARE (Tabl

NET LOSS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of Computation of Earnings Per Share	The following table sets forth the computation of basic and diluted loss per share: For the Year ended For the Numerator: Net loss available to common stockholders $ (14,163,125) $ (19,235,140) Denominator: Denominator for basic and diluted loss per share (weighted-average shares) 28,567,344 25,483,353 Net loss per common share, basic and diluted $ (0.50) $ (0.75)
Schedule of antidilutive securities excluded from computation diluted shares outstanding	The following were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s net loss. In periods where the Company has a net loss, all dilutive securities are excluded. December 31, December 31, Common stock equivalents: Stock options 1,794,453 1,794,453 Stock warrants 4,434,267 4,311,166 Restricted stock units 1,061,471 848,765 Convertible preferred stock 3,163,051 2,725,092 Total 10,453,242 9,679,476

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments required under the lease	Future minimum rental payments required under operating leases are as follows: 2018 $ 52,895 2019 7,440 2020 7,440 2021 620 $ 68,395
Schedule of future minimum lease payments under mining leases	The Company leases certain mineral properties and water rights included in its Relief Canyon Properties. The future minimum lease payments under these mining leases are as follows: 2018 $ 78,994 2019 98,491 2020 137,485 2021 137,485 2022 142,485 Thereafter 937,290 $ 1,532,230

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Summary of the differences between the Company's effective tax rate and the statutory federal rate	The table below summarizes the differences between the Company’s effective tax rate and the statutory federal rate as follows for the year ended December 31, 2017 and 2016: December 31, December 31, Tax benefit computed at “expected” statutory rate $ (4,452,130) $ (5,316,096) State income taxes, net of benefit — — Permanent differences: Stock based compensation and consulting 199,654 629,133 Other 7,888 155,300 Change in Tax Rates 14,086,726 — Increase (decrease) in valuation allowance (9,842,138) 4,531,663 Net income tax benefit $ — $ —
Summary of the differences between the Company's effective tax rate and the statutory federal rate	The table below summarizes the differences between the Company’s effective tax rate and the statutory federal rate as follows for the year ended December 31, 2017 and 2016: December 31, December 31, Computed “expected” tax expense (benefit) (34.0) % (34.0) % State income taxes 0 % 0 % Permanent differences 1.58 % 5.02 % Change in Tax Rates 107.58 % — % Change in valuation allowance (75.16) % 28.98 % Effective tax rate 0.0 % 0.0 %
Summary of deferred tax asset	Deferred tax assets: December 31, December 31, Net operating loss carryover $ 15,896,934 $ 21,486,659 Stock based compensation 2,782,257 4,422,167 Depreciable and depletable assets (16,203) (212,727) Mining explorations 3,144,263 5,390,018 Capital loss carryforward 915,886 1,482,865 Other 32,346 28,639 Less: valuation allowance (22,755,483) (32,597,621) Net deferred tax asset $ — $ —

ORGANIZATION AND DESCRIPTION 26

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Textual) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Jun. 17, 2015	Jun. 16, 2015
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Amendment [Member]
Common Stock, Shares Authorized			200,000,000	800,000,000
Common Stock, Par or Stated Value Per Share			$ 0.0001

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 12,858,873	$ 11,722,102
Restricted cash - non current	3,690,000	2,250,000
Total cash, cash equivalents and restricted cash	$ 16,548,873	$ 13,972,102	$ 5,487,384

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Prepaid expenses	$ 1,006,779	$ 1,139,760
Federal Deposit Insurance Corporation Premium Expense	250,000
Payments of Financing Costs	374,240
Other Current Assets [Member]
Debt Issuance Costs, Current, Net	$ 0	$ 312,415

MINERAL PROPERTIES (Details)

MINERAL PROPERTIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Mineral properties
Total Mineral Properties	$ 22,803,912	$ 22,786,912
Relief Canyon Mine - Gold Acquisition
Mineral properties
Total Mineral Properties	8,501,071	8,501,071
Relief Canyon Mine - Newmont Properties
Mineral properties
Total Mineral Properties	13,709,441	13,709,441
Pershing Pass Property
Mineral properties
Total Mineral Properties	$ 593,400	$ 576,400

MINERAL PROPERTIES (Details Tex

MINERAL PROPERTIES (Details Textual)	Jan. 14, 2015USD ($)amine	Mar. 29, 2017USD ($)	Dec. 31, 2017USD ($)aminelb	Feb. 28, 2018USD ($)	Dec. 31, 2016USD ($)	Apr. 05, 2012a
Mineral properties
Royalty percentage on precious metals			1.00%
Payments to Acquire Businesses, Gross	$ 6,000,000
Minerals Lease and Sublease work commitment Amount		$ 500,000
Mineral Properties, Net, Total			$ 22,803,912		$ 22,786,912
Lessor [Member]
Mineral properties
Unpatented mill sites owned			43
Net smelter return royalty percentage			3.00%
Unpatented mining claims owned			800
Advance royalty required to pay per year			$ 20,000
Royalty Return Percentage			3.00%
Lease Term			10 years
Royalty Capping Amount			$ 50,000
Net Smelter Return Payment			1,000,000
Purchase Options, Land			$ 350,000
Owner [Member]
Mineral properties
Net smelter return royalty percentage			3.00%
Acres of Property | a			1,899
Advance royalty required to pay per year			$ 10
Royalty Return Percentage			3.00%
Lease Term			20 years
Royalty Capping Amount			$ 25
Net Smelter Return Payment			1,000,000
Purchase Options, Land			$ 500
Relief Canyon
Mineral properties
Unpatented mill sites owned | mine	74
Net smelter return royalty percentage			2.00%
Unpatented mining claims owned | mine			1,056
Acres of Property | a			29,000
Mine site Claim Owned | mine			120
Unpatented Mining Claims Leased | mine			143
Area of Land for Leased | a			4,127
Area of Land for Subleased | a			3,739
Royalty Return Percentage			2.00%
Royalty Return Percentage Total			4.50%
Subsequent Event
Mineral properties
Financial Surety Arrangement Value Of State Wide Bond				$ 200,000
Mineral Properties, Net, Total				$ 12,500,000
Newmont USA Ltd
Mineral properties
Acres of Property | a	1,300
BLM
Mineral properties
Excess amount of the current coverage requirement to reclaim land disturbed in exploration and mining operations			$ 76,000
Financial Surety Arrangement Value Of State Wide Bond			12,300,000
Debt Instrument, Collateral Amount			$ 3,690,000
New Nevada Lands, LLC
Mineral properties
Acres of Property | a	1,600
Victoria [Member]
Mineral properties
Acres of Property | a						8,900
Maximum | Relief Canyon
Mineral properties
Net smelter return royalty percentage			5.00%
Royalty Return Percentage			5.00%
Minimum | Relief Canyon
Mineral properties
Net smelter return royalty percentage			2.00%
Royalty Return Percentage			2.00%
Relief Canyon Mine - Newmont Properties
Mineral properties
Unpatented lode mining claims owned						62
Amount required to be spent in exploration expenses in 2013			$ 260,000,000,000
Minerals Lease and Sublease work commitment Amount			1,500,000
Mineral Properties, Net, Total			$ 13,709,441		13,709,441
Relief Canyon Mine - Newmont Properties | 2006 Mineral Lease and Sublease
Mineral properties
Rental payment per acre per year | a			10
Minerals Lease and Sublease work commitment Amount			$ 500,000
Relief Canyon Mine - Newmont Properties | Victoria Gold | Relief Canyon
Mineral properties
Acres of Property | a						13,300
Relief Canyon Mine - Newmont Properties | Newmont USA Ltd
Mineral properties
Unpatented mining claims owned						155
Acres of privately-owned fee minerals leased (in acres) | a						4,900
Relief Canyon Mine - Newmont Properties | Newmont USA Ltd | Relief Canyon
Mineral properties
Acres of Property | a						2,800
Pershing Pass Property
Mineral properties
Unpatented mill sites owned | mine			17
Net smelter return royalty percentage			2.00%
Unpatented mining claims owned | mine			765
Acres of Property | a			12,900
Area of properties held under leases and subleases | a			635
Gold price (per ounce) | lb			500
Royalty percentage on gold if gold prices are over $1,500 per ounce			3.50%
Gold price (per ounce) | lb			1,500
Rate at which the entity can repurchase royalty percentage of gold			$ 600,000
Royalty Return Percentage			2.00%
Mineral Properties, Net, Total			$ 593,400		$ 576,400
Pershing Pass Property | Other Metal
Mineral properties
Royalty percentage on precious metals			0.50%
Pershing Pass Property | Wolf Pack Gold (Nevada) Corp
Mineral properties
Unpatented mining claims owned | mine			19
Purchase price for acquisition of unpatented mining claims			$ 250,000
Pershing Pass Property | Minimum | Wolf Pack Gold (Nevada) Corp | Starting September 2016 till September 2023
Mineral properties
Advance royalty required to pay per year			10,000
Pershing Pass Property | Minimum | Wolf Pack Gold (Nevada) Corp | Starting September 2023 till September 2028
Mineral properties
Advance royalty required to pay per year			12,500
Pershing Pass Property | Minimum | Wolf Pack Gold (Nevada) Corp | Starting September 2028 till September 2033
Mineral properties
Advance royalty required to pay per year			15,000
Pershing Pass Property | Minimum | Wolf Pack Gold (Nevada) Corp | September 2033
Mineral properties
Advance royalty required to pay per year			$ 20,000
2015 Newmont Lease
Mineral properties
Acres of Property | a			2,770
Amount required to be spent in exploration expenses in 2013			$ 2,300,000
Percentage of Royalty To Smelter Returns			2.50%
Minerals Lease and Sublease work commitment Amount			$ 2,600,000
Minerals Lease and Sublease exploration expenditures			$ 2,900,000

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 9,741,584	$ 9,786,896
Less: accumulated depreciation	(6,438,218)	(5,475,916)
Total property and equipment, net	3,303,366	4,310,980
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 56,995	56,995
Estimated Life	5 years
Office and computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 434,563	416,363
Office and computer equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Life	5 years
Office and computer equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Life	1 year
Land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 358,886	358,886
Estimated Life	0 years
Building and improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 823,131	820,182
Building and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Life	25 years
Building and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Life	5 years
Site costs
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,417,704	1,412,624
Estimated Life	10 years
Crushing system
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 2,514,021	2,505,012
Estimated Life	20 years
Process plant and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 3,530,460	3,517,809
Estimated Life	10 years
Vehicles and mining equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 605,824	$ 699,025
Vehicles and mining equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Life	10 years
Vehicles and mining equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Life	5 years

PROPERTY AND EQUIPMENT (Detai32

PROPERTY AND EQUIPMENT (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation	$ 1,071,942	$ 1,097,066
Impairment of Long-Lived Assets Held-for-use	$ 109,640

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance, beginning of period	$ 895,085	$ 783,539
Accretion expense	38,529	38,923
Reclamation obligations settled	0	0
Additions and changes in estimates	29,689	72,623
Balance, end of period	$ 963,303	$ 895,085

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	1 Months Ended		2 Months Ended	12 Months Ended
	Feb. 28, 2017	Jun. 24, 2016	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Restricted Stock Unit
Beginning Balance				845,765	842,770
Granted	25,000	5,995		241,051	5,995
Vested and converted			(5,591)	(21,586)	(1,000)
Forfeited			(3,759)	(3,759)	(2,000)
Ending Balance				1,061,471	845,765
Weighted Average Grant-Date Fair Value Per Share
Beginning Balance				$ 5.68	$ 5.6
Granted				3.19	4.21
Vested and converted				3.55	3.5
Forfeited				3.41	3.5
Ending Balance				$ 5.17	$ 5.68

STOCKHOLDERS' EQUITY (Details 1

STOCKHOLDERS' EQUITY (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of Options
Beginning Balance	1,794,453	1,811,121
Granted	0	0
Exercised	0	0
Forfeited	0	(16,668)
Cancelled	0	0
Ending Balance	1,794,453	1,794,453	1,811,121
Options exercisable at end of year	1,794,453
Options expected to vest	0
Weighted Average Exercise Price
Beginning Balance	$ 7.21	$ 7.2
Granted	0	0
Exercised	0	0
Forfeited	0	7.2
Cancelled	0	0
Ending Balance	7.21	$ 7.21	$ 7.2
Options exercisable at end of years	7.21
Weighted average fair value of options granted during the period	$ 0
Weighted Average Remaining Contractual Life (Years)
Balance	4 years 2 months 12 days	5 years 2 months 12 days	6 years 1 month 24 days
Granted	0 years	0 years
Exercised	0 years	0 years
Forfeited	0 years	0 years
Cancelled	0 years	0 years

STOCKHOLDERS' EQUITY (Details 2

STOCKHOLDERS' EQUITY (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Number of Warrants
Beginning Balance	4,311,166	2,810,579
Granted	2,156,691	2,247,019
Cancelled	(2,033,590)	(746,432)
Forfeited	0	0
Exercised	0	0
Ending Balance	4,434,267	4,311,166	2,810,579
Balance	4,434,267
Weighted Average Exercise Price
Beginning Balance	$ 6.16	$ 7.55
Granted	3.4	7.62
Cancelled	7.68	7.2
Forfeited	0	0
Exercised	0	0
Ending Balance	4.12	$ 6.16	$ 7.55
Warrants exercisable	4.12
Weighted average fair value of warrants granted during the period	$ 3.4
Weighted Average Remaining Contractual Life (Years)
Balance	1 year 3 months 14 days	11 months 23 days	1 year 25 days
Granted	2 years	2 years 6 months
Cancelled	0 years	0 years
Forfeited	0 years	0 years
Exercised	0 years	0 years
Warrants exercisable	1 year 3 months 14 days

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Dec. 11, 2017	Dec. 02, 2016	Feb. 04, 2016	Feb. 28, 2018	Jan. 31, 2018	Dec. 19, 2017	Oct. 31, 2017	Apr. 30, 2017	Mar. 31, 2017	Feb. 28, 2017	Dec. 31, 2016	Jun. 30, 2016	Jun. 24, 2016	May 31, 2016	Mar. 31, 2016	Mar. 28, 2016	Feb. 29, 2016	Feb. 25, 2016	Mar. 31, 2017	Dec. 31, 2017	Oct. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 17, 2015	Jun. 16, 2015
Class of Stock [Line Items]
Stock authorized, shares											50,000,000									50,000,000		50,000,000	50,000,000
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)																		9,374
Stock issued (in shares)														4,843
Number of shares of common stock to be acquired						1,117,800				100,000								304.615
Number of share of preferred stock converted in common shares								15,995										2,855,469
Stock-based compensation expense																						$ 520,000	$ 530,000
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 3.40				$ 3.45
Common Stock Prior To Adjustment																		2,729,489
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross																						0	0
Share Price														$ 4.12
Common Stock, Shares Authorized											200,000,000									200,000,000		200,000,000	200,000,000
Stock Issued During Period, Value, Issued for Services														$ 20,000	$ 35,599							$ 0	$ 55,599
Additional Collateral, Aggregate Fair Value																		$ 580,000
Conversion of Stock, Amount Issued																		$ 990
Proceeds from Issuance of Common Stock																						13,193,831	19,795,476
Stock Issued During Period, Shares, Issued for Services															9,480
Stock Issued During Period, Value, Restricted Stock Award, Gross																						68,002
Deferred Compensation Liability, Current																				$ 73,000		73,000
Share-based Compensation																						1,260,179	2,311,410
Stock Issued During Period, Shares, Conversion of Units								15,995
Deferred Compensation Liability, Current and Noncurrent																				$ 520,000		520,000
Accrued Bonus Redulction Related To Vesting Of Restricted Stock																						$ 511,526	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price											$ 7.21									$ 7.21		$ 7.21	$ 7.21	$ 7.2
Underwriting Agreement [Member]
Class of Stock [Line Items]
Stock issued (in shares)	2,430,000					2,794,500
Number of shares of common stock to be acquired	972,000					145,800
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.80
Gross proceeds from sale of units						$ 7,800,000
Legal Fees						$ 6,500,000
Accounts Payable and Accrued Liabilities [Member]
Class of Stock [Line Items]
Deferred Compensation Liability, Current											$ 530,000									$ 59,000		$ 59,000	$ 530,000
Share-based Compensation																							530,000
Laidlaw Company UK Ltd [Member]
Class of Stock [Line Items]
Stock issued (in shares)		2,205,883
Payments of Stock Issuance Costs		$ 859,000
Shares Issued, Price Per Share		$ 3.40
Proceeds from Issuance of Common Stock		$ 6,600,000
Preferred Stock [Member]
Class of Stock [Line Items]
Stock authorized, shares																				50,000,000		50,000,000
Par value of preferred stock authorized (in dollars per share)																				$ 0.0001		$ 0.0001
Amendment [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized																									200,000,000	800,000,000
Private Placement [Member]
Class of Stock [Line Items]
Number of common shares issued upon conversion																261,590
Stock issued (in shares)			367,647			2,347,236										1,850,000		2,120,882
Number of shares of common stock to be acquired																0.5		0.5
Number of shares of common stock issued for each warrant						0.40										925,000		1,060,429
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 3.40										$ 5.06
Gross proceeds from sale of units			$ 1,250,000			$ 6,800,000												$ 6,900,000
Commissions paid in cash																$ 695,000
Payments of Stock Issuance Costs																25,000
Legal Fees																$ 6,000,000	$ 229,000	$ 6,100,000
Common Stock Prior To Adjustment																				938,891		938,891
Share Price																$ 4.35		$ 5.06
Common Stock, Shares Authorized																1,850,000		2,120,882		2,347,236		2,347,236
Stock Issued During Period, Shares, Issued for Services						2,347,236
Units Shares [Member]
Class of Stock [Line Items]
Conversion price per share of common stock (in dollars per share)																		$ 261,590
Number Of Common Stock Per Unit																		5.06
Number of shares of common stock issued for each warrant																925,000		1,060,429
Class of Warrant or Right, Exercise Price of Warrants or Rights																$ 4.35		$ 5.06
Warrants Expiration Date																		Aug. 25, 2018
Warrant [Member]
Class of Stock [Line Items]
Restricted common stock granted										100,000
Stock-based compensation expense																						$ 86,899
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Granted In Period Total Fair Value										$ 87,000
Share Price										$ 3.32
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Volatility Rate										48.00%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term										10 years
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate										1.17%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value										$ 0.87
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period						2,056,691															2,033,590
Warrant [Member] | Underwriting Agreement [Member]
Class of Stock [Line Items]
Number of shares of common stock to be acquired	145,800
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.136
Subsequent Event
Class of Stock [Line Items]
Share Price					$ 2.36
Shares Issued, Price Per Share					$ 1.19
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited				85,135
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period					436,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price					$ 2.80
Sale of Stock, Price Per Share					$ 2.80
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate					41.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					2.70%
Maximum
Class of Stock [Line Items]
Share Price															$ 3.90
Maximum | Private Placement [Member]
Class of Stock [Line Items]
Adjusted Conversion Price																		3.40
Minimum
Class of Stock [Line Items]
Share Price															$ 3.70
Minimum | Private Placement [Member]
Class of Stock [Line Items]
Adjusted Conversion Price																		3.25
Stock Option | Underwriting Agreement [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	364,500
Share Price	$ 2.468
Restricted Stock
Class of Stock [Line Items]
Stock-based compensation expense																						1,110,111	$ 2,255,811
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options																				$ 1,861,521		$ 1,861,521
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period											1,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period											2,000
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted common stock granted										25,000			5,995									241,051	5,995
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period Total Fair Value										$ 80,000			$ 25,239
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value																						$ 3.19	$ 4.21
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period																			5,591			21,586	1,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period																			3,759			3,759	2,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures																			5,591
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited																			10,926
Incentive RSU [Member]
Class of Stock [Line Items]
Stock-based compensation expense												$ 702,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period												120,000
Chief Executive Officer | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted common stock granted									50,000
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options Granted In Period Total Fair Value									$ 149,500
Board of Directors
Class of Stock [Line Items]
Restricted common stock granted																				41,201
Stock Issued During Period, Shares, Share-based Compensation, Gross																				2,351
Deferred Compensation Liability, Current and Noncurrent											$ 73,250									$ 68,000		$ 68,000	$ 73,250	$ 73,250
Board of Directors | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted common stock granted							8,621
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period Total Fair Value							$ 25,000
Employee and Directors [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted common stock granted										116,229
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted In Period Total Fair Value										$ 382,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage										50.00%
Convertible Series A Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											2,250,000									2,250,000		2,250,000	2,250,000
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)											0									0		0	0
Stock issued (in shares)																						0	0
Stock Issued During Period, Value, Issued for Services																						$ 0	$ 0
Stock Issued During Period, Shares, Issued for Services																						0	0
Stock Issued During Period, Value, Restricted Stock Award, Gross																						$ 0
Convertible Series B Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											8,000,000									8,000,000		8,000,000	8,000,000
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)											0									0		0	0
Stock issued (in shares)																						0	0
Stock Issued During Period, Value, Issued for Services																						$ 0	$ 0
Stock Issued During Period, Shares, Issued for Services																						0	0
Stock Issued During Period, Value, Restricted Stock Award, Gross																						$ 0
Convertible Series C Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											3,284,396									3,284,396		3,284,396	3,284,396
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)											0									0		0	0
Stock issued (in shares)																						0	0
Stock Issued During Period, Value, Issued for Services																						$ 0	$ 0
Stock Issued During Period, Shares, Issued for Services																						0	0
Stock Issued During Period, Value, Restricted Stock Award, Gross																						$ 0
Convertible Series D Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											7,500,000									7,500,000		7,500,000	7,500,000
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)											0									0		0	0
Stock issued (in shares)																						0	0
Stock Issued During Period, Value, Issued for Services																						$ 0	$ 0
Stock Issued During Period, Shares, Issued for Services																						0	0
Stock Issued During Period, Value, Restricted Stock Award, Gross																						$ 0
Series E Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											15,151	328			100					15,151		15,151	15,151
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, Outstanding (in shares)						8,946					8,946									8,946		8,946	8,946
Stock issued (in shares)																						0	0
Number of shares of common stock to be acquired			291.176			353.571
Number of share of preferred stock converted in common shares						3,163,051
Aggregate number of common shares issued upon conversion												99,916			30,461		292
Common Stock Units Sold			9,375
Common Stock Prior To Adjustment			1,841,528			2,725,089
Stock Issued During Period, Value, Issued for Services																						$ 0	$ 0
Additional Collateral, Aggregate Fair Value			$ 3,020,000																	$ 1,070,000		$ 1,070,000
Conversion of Stock, Amount Issued			$ 990			$ 990
Stock Issued During Period, Shares, Issued for Services																						0	0
Stock Issued During Period, Value, Restricted Stock Award, Gross																						$ 0
Stock Issued During Period, Shares, Conversion of Convertible Securities			2,729,780
Series E Preferred Stock | Maximum
Class of Stock [Line Items]
Adjusted Conversion Price						3.25
Series E Preferred Stock | Maximum | February 4, 2016 Private Placement [Member]
Class of Stock [Line Items]
Adjusted Conversion Price			5.04
Series E Preferred Stock | Minimum
Class of Stock [Line Items]
Adjusted Conversion Price						2.80
Series E Preferred Stock | Minimum | February 4, 2016 Private Placement [Member]
Class of Stock [Line Items]
Adjusted Conversion Price			3.40
Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Gross											$ 1,000
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures											11,111
Common Stock | Consultant Agreement [Member]
Class of Stock [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures											$ 12,964
9% Series D Cumulative Preferred Stock
Class of Stock [Line Items]
Stock authorized, shares											7,500,000									7,500,000		7,500,000	7,500,000
Par value of preferred stock authorized (in dollars per share)											$ 0.0001									$ 0.0001		$ 0.0001	$ 0.0001

NET LOSS PER COMMON SHARE (Deta

NET LOSS PER COMMON SHARE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net loss available to common stockholders	$ (14,163,125)	$ (19,235,140)
Denominator:
Denominator for basic and diluted loss per share (weighted-average shares)	28,567,344	25,483,353
Net loss per common share, basic and diluted	$ (0.5)	$ (0.75)

NET LOSS PER COMMON SHARE (De39

NET LOSS PER COMMON SHARE (Details 1) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents	10,453,242	9,679,476
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents	1,794,453	1,794,453
Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents	4,434,267	4,311,166
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents	1,061,471	848,765
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents	3,163,051	2,725,092

COMMITMENTS AND CONTINGENCIES40

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2017USD ($)
Other Commitments [Line Items]
2,018	$ 52,895
2,019	7,440
2,020	7,440
2,021	620
Total	$ 68,395

COMMITMENTS AND CONTINGENCIES41

COMMITMENTS AND CONTINGENCIES (Details 1)	Dec. 31, 2017USD ($)
COMMITMENTS AND CONTINGENCIES [Line Items]
2,018	$ 78,994
2,019	98,491
2,020	137,485
2,021	137,485
2,022	142,485
Thereafter	937,290
Total	$ 1,532,230

COMMITMENTS AND CONTINGENCIES42

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 29, 2016	Dec. 31, 2017	Dec. 31, 2016
Other Commitments [Line Items]
Operating Leases, Rent Expense, Net		$ 51,224	$ 63,770
Lease Expiring Period		39 months
Deferred Rent Credit		$ 6,447
Sprott Resource Lending [Member]
Other Commitments [Line Items]
Payments for structuring fees	$ 200,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000,000
Line of Credit Facility, Interest Rate During Period	9.00%
Litigation Settlement, Expense	$ 69,240
Loss Contingency, Damages Paid, Value	$ 105,000
Sprott Resource Lending [Member] | Prepaid Expenses and Other Current Assets [Member]
Other Commitments [Line Items]
Advance Payment To Lender		$ 374,240

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Income Tax [Line Items]
Tax benefit computed at “expected” statutory rate	$ (4,452,130)	$ (5,316,096)
State income taxes, net of benefit	0	0
Permanent differences :
Stock based compensation and consulting	199,654	629,133
Other	7,888	155,300
Change in Tax Rates	14,086,726	0
Increase (decrease) in valuation allowance	(9,842,138)	4,531,663
Net income tax benefit	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Income Tax [Line Items]
Computed "expected" tax expense (benefit)	(34.00%)	(34.00%)
State income taxes	0.00%	0.00%
Permanent differences	1.58%	5.02%
Change in Tax Rates	107.58%	0.00%
Change in valuation allowance	(75.16%)	28.98%
Effective tax rate	0.00%	0.00%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Net operating loss carryover	$ 15,896,934	$ 21,486,659
Stock based compensation	2,782,257	4,422,167
Depreciable and depletable assets	(16,203)	(212,727)
Mining explorations	3,144,263	5,390,018
Capital loss carryforward	915,886	1,482,865
Other	32,346	28,639
Less: valuation allowance	(22,755,483)	(32,597,621)
Net deferred tax asset	$ 0	$ 0

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards		$ 75.7
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2037
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 9.8
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		34.00%	34.00%
Scenario, Plan [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	1 Months Ended
	Feb. 28, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Mineral Properties, Net, Total		$ 22,803,912	$ 22,786,912
Subsequent Event
Subsequent Event [Line Items]
Financial Surety Arrangement Value Of State Wide Bond	$ 200,000
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number	18,518
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	85,135
Mineral Properties, Net, Total	$ 12,500,000