Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Apr. 07, 2021 | Jun. 30, 2020 | |
Document and Entity Information: | |||
Entity Registrant Name | JOSHUA GOLD RESOURCES INC. | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0001475430 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 145,451,342 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Public Float | $ 12,677,498 | ||
Entity Interactive Data Current | Yes | ||
Entity Incorporation, State or Country Code | NV | ||
Entity File Number | 000-53809 | ||
Document Annual Report | true | ||
Document Transition Report | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash | $ 3,716 | $ 14,211 |
Accounts receivable and other assets | 11,237 | 9,193 |
Notes receivable (Note 9) | 19,000 | 29,698 |
Total Current Assets | 33,953 | 53,102 |
Other Assets | ||
Mineral properties (Note 4) | 1 | 1 |
Total Assets | 33,954 | 53,103 |
Current Liabilities | ||
Accounts payable | 297,594 | 298,789 |
Accrued liabilities | 27,410 | 26,496 |
Advances from stockholders (Note 5) | 555,555 | 444,020 |
Dividends payable (Note 8) | 419,848 | 359,862 |
Due on mineral rights (Note 6) | 39,270 | 37,959 |
Total Liabilities | 1,339,677 | 1,167,126 |
Stockholders' Deficit | ||
Preference Shares, $0.0001 par value; 100,000,000 shares authorized; 243,690 shares issued and outstanding (December 31, 2019 - 240,000) (Note 8) | 25 | 24 |
Common Stock, $0.0001 par value; 400,000,000 shares authorized; 141,484,681 shares issued and outstanding (December 31, 2019 - 138,084,681) (Note 8) | 14,139 | 13,799 |
Additional Paid In Capital (Note 8) | $ 11,179,536 | $ 10,878,186 |
Shares to be Issued (Note 8) | 2,341,728 | 1,901,044 |
Accumulated other comprehensive income | $ 46,998 | $ 60,530 |
Accumulated deficit | (14,888,149) | (13,967,606) |
Total Stockholders' Deficit | (1,305,723) | (1,114,023) |
Total Liabilities and Stockholders' Deficit | $ 33,954 | $ 53,103 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preference Shares, Par Value | $ 0.0001 | $ 0.0001 |
Preference Shares, Shares Authorized | 100,000,000 | 100,000,000 |
Preference Shares, Shares Issued | 243,690 | 240,000 |
Preference Shares, Shares Outstanding | 243,690 | 240,000 |
Common Stock, Par Value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 400,000,000 | 400,000,000 |
Common Stock, Shares Issued | 141,484,681 | 138,084,681 |
Common Stock, Shares Outstanding | 141,484,681 | 138,084,681 |
Statements of Operations and Co
Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING EXPENSES | ||
Consulting fees (Note 8 and 9) | $ 200,000 | $ 192,450 |
Professional fees | 95,821 | 114,980 |
General and administrative | 13,717 | 3,582 |
Exploration | 67,357 | 9,066 |
Interest | 18,670 | 13,884 |
Foreign exchange (gain) loss | (6,672) | (6,478) |
Loss on impairment of properties (Note 4) | 487,000 | 1,700,120 |
TOTAL OPERATING EXPENSES | 875,893 | 2,027,604 |
NET LOSS | (860,557) | (2,027,604) |
OTHER COMPREHENSIVE LOSS | ||
Foreign currency translation loss | (13,532) | (7,714) |
NET LOSS AND COMPREHENSIVE LOSS | (874,090) | (2,035,318) |
Dividends on Preferred Stock | (59,986) | (54,533) |
NET LOSS ATTRIBUTED TO COMMON SHAREHOLDERS | $ (920,543) | $ (2,082,137) |
LOSS PER SHARE - BASIC AND DILUTED | $ 0.0062 | $ 0.017 |
WEIGHTED NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED | 139,729,490 | 122,430,981 |
Sale of minral property leases [Member] | ||
REVENUE | ||
Total Revenues | $ 15,336 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Stock to be Issued [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2018 | $ 24 | $ 12,095 | $ 9,095,193 | $ 1,793,530 | $ 68,244 | $ (11,885,469) | $ (916,383) |
Balance, shares at Dec. 31, 2018 | 240,000 | 121,041,942 | |||||
Stock to be issued to investors (Note 8) | $ 7 | 11,332 | (11,339) | ||||
Stock to be issued to investors (Note 8), shares | 75,590 | ||||||
Stock to be issued for compensation (Note 8) | 192,450 | 192,450 | |||||
Stock issued for compensation (Note 8) | $ 867 | 432,491 | (433,357) | ||||
Stock issued for compensation (Note 8), shares | 8,667,149 | ||||||
Stock issued for services (Note 8) | |||||||
Stock issued for mineral rights (Note 8) | $ 830 | 1,339,170 | 1,340,000 | ||||
Stock issued for mineral rights (Note 8), shares | 8,300,000 | ||||||
Stock to be issued for mineral rights (Note 8) | 359,760 | 359,760 | |||||
Foreign currency translation | (7,714) | (7,714) | |||||
Net loss | (2,027,604) | (2,027,604) | |||||
Dividends | (54,533) | (54,533) | |||||
Balance at Dec. 31, 2019 | $ 24 | $ 13,799 | 10,878,186 | 1,901,044 | 60,530 | (13,967,606) | (1,114,023) |
Balance, shares at Dec. 31, 2019 | 240,000 | 138,084,681 | |||||
Stock to be issued to investors (Note 8) | |||||||
Stock to be issued for compensation (Note 8) | 200,000 | 200,000 | |||||
Stock issued from private placement (Note 8) | $ 1 | 3,690 | 3,691 | ||||
Stock issued from private placement (Note 8), shares | 3,690 | ||||||
Stock issued for services (Note 8) | 51,684 | 51,684 | |||||
Stock issued for services (Note 8), shares | |||||||
Stock issued for mineral rights (Note 8) | $ 340 | 297,660 | 298,000 | ||||
Stock issued for mineral rights (Note 8), shares | 3,400,000 | ||||||
Stock to be issued for mineral rights (Note 8) | 189,000 | 189,000 | |||||
Foreign currency translation | (13,532) | (13,532) | |||||
Net loss | (860,557) | (860,557) | |||||
Dividends | (59,986) | (59,986) | |||||
Balance at Dec. 31, 2020 | $ 25 | $ 14,139 | $ 11,179,536 | $ 2,341,728 | $ 46,998 | $ (14,888,149) | $ (1,305,723) |
Balance, shares at Dec. 31, 2020 | 243,690 | 141,484,681 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS USED IN OPERATIONS ACTIVITIES | ||
Net loss | $ (860,557) | $ (2,027,604) |
Adjustments for non-cash items: | ||
Loss on impairment of mineral rights | 487,000 | 1,700,120 |
Stock based compensation | 200,000 | 192,450 |
Issuance of Common shares for services (Note 8) | 51,684 | |
Adjustments for changes in working capital: | ||
Accounts receivable and other assets | 8,654 | (2,061) |
Accounts payable and accrued liabilities | (281) | (1,298) |
Due on mineral rights | 1,311 | 734 |
NET CASH USED IN OPERATING ACTIVITIES | (112,189) | (137,659) |
FINANCING ACTIVITIES | ||
Advances from stockholders (note 5) | 111,535 | 149,587 |
Issuance of Preferred shares (note 8) | 3,691 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 115,226 | 149,587 |
INVESTING ACTIVITIES | ||
Mineral rights | (360) | |
NET CASH USED IN INVESTING ACTIVITIES | (360) | |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | (13,532) | (7,714) |
NET (DECREASE) INCREASE IN CASH | (10,495) | 3,855 |
CASH, BEGINNING OF YEAR | 14,211 | 10,356 |
CASH, END OF YEAR | 3,716 | 14,211 |
SUPPLEMENTARY CASH FLOW INFORMATION | ||
Income taxes paid | ||
Interest paid | ||
Stock issuances to acquire mineral properties | $ 487,000 | $ 1,699,760 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations | 1. Nature of Operations Joshua Gold Resources Inc. (referred to herein as The Company operates as a mineral exploration business headquartered at 20 - 1033 Pattullo Avenue Woodstock, Ontario, Canada. Its principal business activity is the acquisition, exploration and development of mineral property interests in Canada. The Company is considered to be in the exploration stage and substantially all of the Company The Company has the rights to twelve mineral properties in Ontario and in the Northwest Territories, Canada. There has been no determination whether the Company During the year, there was a global outbreak of COVID-19 (coronavirus), which has had a significant impact on businesses through the restrictions put in place by the Canadian, provincial and municipal governments regarding travel, business operations and isolation/quarantine orders. At this time, it is unknown the extent of the impact the COVID-19 outbreak may have on the Company as this will depend on future developments that are highly uncertain and that cannot be predicted with confidence. These uncertainties arise from the inability to predict the ultimate geographic spread of the disease, and the duration of the outbreak, including the duration of travel restrictions, business closures or disruptions, and quarantine/isolation measures that are currently, or may be put, in place by Canada and other countries to fight the virus. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2020 | |
GOING CONCERN [Abstract] | |
Going Concern | 2. Going Concern The financial statements have been prepared on a going concern basis. The going concern basis of presentation assumes that the Company will continue operations for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of operation. The Company has incurred a net loss of $860,557 for the year ended December 31, 2020 and had a working capital deficit of $1,305,724 as at December 31, 2020. As an exploration stage entity, the Company has not yet commenced its mining operations and accordingly does not have any revenue. This casts substantial doubt on the Company The Company has been seeking additional debt or equity financing to support its operations until it becomes cash flow positive. There can be no assurances that action and plan such as above will be sufficient for the Company to continue operating as a going concern. Additional information is disclosed in subsequent events Note 12. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts classified as liabilities that might be necessary should the Company be unable to continue in existence. These adjustments could be material. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 3. Significant Accounting Policies These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The significant accounting policies followed in the preparation of these financial statements are as follows: Mineral Properties and Exploration and Development Costs The costs of acquiring mineral properties are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. Impairment of long-lived assets Long-lived assets that are held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Intangible assets having an indefinite useful life are assessed for impairment annually. The Company evaluates at each balance sheet date whether circumstances have occurred that indicate possible impairment. If there are indications of impairment, the Company uses future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the carrying amounts are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. Foreign Currency Translation The Company's accounts have been translated into U.S. dollars in accordance with the provisions of Accounting Standards Codification ( Foreign Currency Matters Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Some of the Company's more significant estimates include those related to going concern and the fair value of stock-based compensation and other equity instruments. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. Comprehensive Loss The Company follows the guidance in ASC 220, Comprehensive Income Fair Value of Financial Instruments In accordance with ASC 820, Fair Value Measurement, In determining fair value, the Company uses various valuation approaches. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 - Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value. Income Taxes The Company accounts for income taxes pursuant to ASC 740, Income Taxes Stock-based Compensation The Company accounts for Stock-Based Compensation in accordance with ASC 718, Compensation Awards granted to non-employees fall under ASC 505-50 and are recognized based on the fair value of the goods or services received or the equity instruments, whichever is more reliable. Net Earnings (Loss) Per Share The Company accounts for earnings (loss) per share pursuant ASC 260, Earnings Per Share There were no dilutive financial instruments for the years ended December 31, 2020 and 2019. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting standards, when adopted, will have a material effect on the accompanying financial statements, other than those disclosed below. In December 2019, the FASB issued ASU 2019-12, The Company continues to evaluate the impact of these ASU |
Mineral Property Interests
Mineral Property Interests | 12 Months Ended |
Dec. 31, 2020 | |
Mineral Industries Disclosures [Abstract] | |
Mineral Property Interests | 4. Mineral Property Interests Balance at January 1, 2016 $ 1 Carson Property acquisition (a) 15,000 Impairment charge Carson Property (a) (15,000) Balance at December 31, 2016 $ 1 Rollo Property 25,000 Janes Reef Property 16,000 Asquith Property 10,000 C1 Mortimer Property (c) 941,460 Impairment charge (c) (992,460) Balance at December 31, 2017 and 2018 $ 1 C1 Mortimer amendment (c) 359,760 Chewitt Property (d) 60,360 King Solomon Mines Property (e) 1,280,000 Impairment charge (c) (d) (e) (1,700,120) Balance at December 31, 2019 $ 1 Borden Lake North (f) 15,000 Halcrow, McCool, Seymour Lake (g) 145,000 Haycock, Godfrey and Roma (h) 138,000 Hiltz (i) 21,000 Jo-Anne Property(j) 168,000 Impairment charge (f)(g)(h)(i)(j) (487,000) Balance at December 31, 2020 $ 1 On August 17, 2020 the Company sold its one hundred percent interest in these contiguous four single cell staked mining claims located in Asquith Township, Larder Lake Mining Division approximately 100km south west of Kirkland Lake, and approximately 110km south of Timmins, Ontario. They are recorded in MLAS by the following Tenure IDs: 555444 (Cell ID 41P11C056), 555445 (Cell ID 41P11C057 ), 561605 (Cell ID 41P11C036), 561606 (Cell ID 41P11C037) for $15,336 (CDN$20,000) in cash. a) Carson Property On December 23, 2010, the Company entered into a mineral property acquisition agreement with 2214098 Ontario Ltd. pursuant to which the Company acquired the mining lease to the Carson Property. Under the acquisition agreement, the Company was required to pay: 1. Cash consideration of $99,060 (CDN$100,000) to be paid according to an installment schedule between April 30, 2011 and December 31, 2015; 2. Equity consideration of 1,000,000 shares of common stock to be issued on or before March 30, 2011; and 3. Royalty of 3% of all net smelter returns upon commencement of commercial production of the property. The Carson Property is 1,812 acres in area and is located north by north-west of the City of Yellowknife, in the Northwest Territories, Canada. The Company On December 13, 2012, the Company terminated its acquisition agreement for the Carson Property with 2214098 Ontario Ltd. Under the terms of the agreement, the Company returned the property to the vendor, and both parties are released from any further obligation under the agreement. The Company had reflected the termination as a loss on disposal of mineral property on the statement of operations of $112,686 for the year ended December 31, 2012. During 2016, the Company reacquired the Carson Property in exchange for 300,000 shares of common stock to be issued valued at $15,000. In 2016, the Company recognized an impairment charge of $15,000 on the carrying value of the Carson Property based on the substantial doubt of the Company a) Kenty Gold Property McClay Conveyed Property As consideration for the sale of the McClay Conveyed Property, the Company agreed to deliver the following to McClay in the manner set forth below: (a) Closing Date (b) February 4, 2013 (i) CDN$100,000 on or before February 4, 2013; and (ii) 200,000 common shares of Company on or before February 4, 2013. (c) April 4, 2013 (i) CDN$150,000 on or before April 4, 2013; and (ii) 200,000 common shares of Company on or before April 4, 2013. (d) October 4, 2013 (i) CDN$300,000 on or before October 4, 2013; and (ii) 250,000 common shares of Company on or before October 4, 2013. (e) April 4, 2014 (i) CDN$300,000 on or before April 4, 2014; and (ii) 250,000 common shares of Company on or before April 4, 2014. (f) October 4, 2014 (i) CDN$300,000 on or before October 4, 2014; and (ii) 250,000 common shares of Company on or before October 4, 2014. (g) April 4, 2015 (i) CDN$300,000 on or before April 4, 2015; and (ii) 550,000 common shares of Company on or before April 4, 2015. (h) Reserve Ounces of Gold (Aurum Metal) on the McClay Conveyed Property, Company shall pay CDN$1,000,000 to McClay. (i) Production (i) Upon production of 1,000,000 Troy Ounces of Gold (Aurum Metal) from the McClay Conveyed Property, Company shall pay CDN$1,000,000 to McClay. (ii) Upon production of 3,000,000 Troy Ounces of Gold (Aurum Metal) from the McClay Conveyed Property, Company shall pay CDN$2,000,000 to McClay. (iii) Upon production of 5,000,000 Troy Ounces of Gold (Aurum Metal) from the McClay Conveyed Property, Company shall pay CDN$2,000,000 to McClay. (j) Early Buyout Option In addition, upon the Commencement of Commercial Production (as defined in the McClay Agreement), the Company shall pay to McClay a royalty in an amount equal to three percent (3%) of all Net Smelter Returns (as defined in the McClay Agreement) on minerals mined from the McClay Conveyed Property (the During 2014, the Company recognized an impairment charge of $1,975,999 on the carrying value of the Kenty Property based on the substantial doubt of the Company At present the Company is involved in three material litigation proceedings. These actions are ongoing in the Ontario Superior Court of Justice and all involve the ownership of the Kenty Property. The first application is an application brought by Emerald Isle Resources on May 14, 2013 seeking a declaration that it is the legal owner of the Kenty Property. The application alleges: (i) that Brian A. McClay, the owner of the Kenty Property, had sold 100% of his interest therein to Emerald Isle in 1986, although Emerald Isle did not register its acquisition of the Kenty Property at that time; and (ii) that at the time he entered into an agreement to sell the Kenty Property to the Company, Mr. McClay had no interest in the Kenty Property to sell. The Company has responded to that application. By separate application commenced March 13, 2014 the Company and its co- applicant, Mr. McClay commenced a separate proceeding in the Ontario Superior Court of Justice seeking a formal declaration that Mr. McClay is the sole owner of a 100% undivided interest in the Kenty Property subject only to a smelting agreement and a Mineral Property Acquisition Agreement in favor of the Company. These matters remain to be resolved. In separate proceedings, on May 13, 2015, the Company filed a Statement of Claim against Mr. McClay seeking damages totaling $10,750,000 in the event that the Application of the Company and Mr. McClay is unsuccessful and on or about September 28, 2015, Mr. McClay filed a counterclaim against the Company alleging that the Company has failed to deliver the consideration for the purchase of the Kenty Property and therefore has no rights thereto, and seeking damages in the amount of $2,500,000 against the Company. The matter remains in abeyance pending the resolution of the two Applications. b) C1 Mortimer Property In January 2017, the Company entered into a Joint Venture Agreement whereby it has an Option to acquire a fifty per cent (50%) interest in a claim known as the C1- Mortimer property. In order to earn the fifty per cent interest the Company must: 1. Pay $10,000 CDN upon signing; 2. Pay 10 million shares of common stock of the Company to the prospectors pro rata upon signing, which was reduced to 9,850,000 shares of common stock, of which 8,840,000 were issued and the remaining are included in stock to be issued. 3. Spend five hundred thousand ($500,000) on mineral exploration on the property within 30 months of the signing anniversary. 4. Grant Larry Silo first right of refusal on all exploration work. 5. Pay the prospector owners, pro rata, CDN$750,000, within 30 months of the signing anniversary. The current owner prospectors will retain a three per cent (3%) Net Smelter Royalty on the property. On June 2, 2017, the payment of CDN$10,000 was changed to a payment of CDN$5,000 on June 5, 2017, plus CDN$5,000 paid on July 7, 2017. Total consideration of shares and these payments translated into USD amounted to $941,460. The Company recognized an impairment charge of $941,460 on the carrying value based on the substantial doubt of the Company On October 8, 2019 the Joint Venture agreement expired and was replaced with a new Joint Venture Option Agreement signed November 19, 2019 with the following terms: 1. Pay the prospector owners $75,000 CDN annually for 10 years beginning January 1, 2021 and ending January 1, 2030. 2. The Company must spend three hundred thousand dollars ($300,000.00) CDN in mineral exploration on the property by January 1, 2025. 3. Upon signing, the Company will issue two million, four hundred thousand (2,400,000) JSHG common shares to the prospector owners as compensation for the changes to the original Joint Venture Option agreement. 4. The Company must keep each and all claims within the group that comprises the Property in good standing. If the Company forfeits one, any or all of the claims that comprise the Property, then the Company is obligated to inform the prospector owners of its impending forfeiture of any or all claims at least four months previous to the leased claims coming open for staking, 5. Prospector and driller Larry Salo will be granted first right of refusal on all exploration work, 6. The Company must maintain proper insurance on the Property at all times either by itself as a policy holder or through policies held by the Company's contractors such that the prospector owners have no legal liability at any time on the Property, In 2019, the Company recognized an additional impairment charge of $359,760 on the carrying value of the C1 Mortimer Property based on the substantial doubt of the Company d) Chewitt Property During the year ended December 31, 2019, the Company entered into a mineral property acquisition agreement, pursuant to which the Company acquired the mining lease to the Chewitt Property. Under the acquisition agreement, the Company issued equity consideration of 300,000 shares of common stock and cash of $360 ($475 CDN). In 2019, the Company recognized an impairment charge of $60,360 on the carrying value of the Chewitt Property based on the substantial doubt of the Company e) King Solomon Mines Property During the year ended December 31, 2019, the Company entered into a mineral property acquisition agreement, pursuant to which the Company acquired the mining lease to the King Solomon Mines Property. Under the acquisition agreement, the Company issued equity consideration of 8,000,000 shares of common stock and agreed to a two pe r P t In 2019, the Company recognized an impairment charge of $1,280,000 on the carrying value of the King Solomon Property based on the substantial doubt of the Company f) Borden Lake North Property On January 15, 2020, the Company entered into a mineral property acquisition agreement, pursuant to which the Company acquired 100% interest in eleven claims (approximately 495 acres), known as the Borden North Property in Cochrane and Darcy Townships located about 6.5 kilometers (app. 4 miles) north of the Newmont Borden Lake gold mine in Northern Ontario. Under the acquisition agreement, the Company issued equity consideration of 100,000 shares of common stock, valued at US$0.15 per share recorded in common shares issued and agreed to a two pe r P t In 2020, the Company recognized an impairment charge of $15,000 on the carrying value of the Borden Lake North Property based on the substantial doubt of the Company g) Halcrow Gold, McCool, Seymour Lake Property On April 14, 2020, the Company purchased a 100% interest in thirty five claims, known as the Halcrow Gold Property, McCool Property and Seymour Lake Extension Property Northern Ontario. The Company paid one million JSHG common shares at $0.145 per share for the mineral property and a two per cent (2%) Net Smelter Royalty ('NSR') of which the Company has the option to repurchase 75% of the NSR for one million Canadian dollars ($1,000,000) for each of the three properties at any time. In 2020, the Company recognized an impairment charge of $145,000 on the carrying value of the Halcrow Gold Property, McCool Property and Seymour Lake Extension Property based on the substantial doubt of the Company h) Haycock, Godfrey, Roma Lake Property On August 20, 2020, the Company purchased a 100% interest in twenty claims, known as the Haycock Gold Property, Godfrey and Roma Lake Property in Northern Ontario. The Company paid two million three hundred thousand JSHG common shares at $0.06 per share for the mineral property and a three per cent (3%) Net Smelter Royalty ('NSR') of which the Company has the option to repurchase 75% of the NSR for one million Canadian dollars ($1,000,000) for each of the three properties at any time. As at December 31, 2020, the shares are reflected in Shares to be issued. In 2020, the Company recognized an impairment charge of $138,000 on the carrying value of the Haycock Gold Property, Godfrey and Roma Lake Property based on the substantial doubt of the Company i) Hiltz Property On November 19, 2020, the Company purchased a 100% interest in eight claims, known as the Hiltz in the Asquith Township in Northern Ontario. The Company paid three hundred thousand JSHG common shares at $0.07 per share for the mineral property and a two per cent (2%) Net Smelter Royalty ('NSR') of which the Company has the option to repurchase 75% of the NSR for one million five hundred thousand Canadian dollars ($1,500,000) at any time. As at December 31, 2020, the shares are reflected in Shares to be issued. In 2020, the Company recognized an impairment charge of $21,000 on the carrying value of the Hiltz Property based on the substantial doubt of the Company j) Jo-Anne Property On November 13, 2020, the Company purchased a 100% interest in two claims, known as the Jo-Anne Property, in Benoit Township in Northern Ontario. The Company paid two million four hundred thousand JSHG common shares at $0.07 per share for the mineral property and a two per cent (2%) Net Smelter Royalty ('NSR') of which the Company has the option to repurchase 50% of the NSR for two million Canadian dollars ($2,000,000) at any time. As at December 31, 2020, the shares are reflected in Shares to be issued. In 2020, the Company recognized an impairment charge of $168,000 on the carrying value of the Jo-Anne Property based on the substantial doubt of the Company |
Advances From Stockholders
Advances From Stockholders | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Advances From Stockholders | 1. Advances From Stockholders December 31, December 31, 2020 2019 Due to Alan Ward $74,861 $74,861 During the year ended December 31, 2016, Alan Ward, the former CEO of the Company transferred personal shareholdings to a vendor of the Company and assumed the debt previously owed to the vendor. The amount is non-interest bearing, unsecured and has no specified terms of repayment. Due to David Mason 99,053 75,825 On February 18, 2013, the Company entered into a short term loan agreement with David Mason, at the time a director of the Company, in the amount of CDN$25,000, with $7,500 common shares. The loan was formerly interest bearing at 1% compounded monthly, with an original maturity of April 18, 2013 and if unpaid thereafter bearing interest at 22.5%. The loan is secured by a 10% interest in the Mortimer property, which the Company no longer owns, or 150,000 shares of common stock. As the maturity has passed, the amount plus accrued interest is now due on demand. Interest expense on the loan was CDN$24,704 ($18,670) in 2020 and CDN$18,287 ($13,884) in 2019, which is included in the amount of the loan. Due to Friggi N. A. Inc. 376,791 280,892 Due to 1873942 Ontario Inc. 4,850 4,850 Due to Northern Rock Works Inc., - 7,592 Advances from stockholders $555,555 $444,020 |
Due On Mineral Rights Acquisiti
Due On Mineral Rights Acquisitions | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Due On Mineral Rights Acquisitions | 2. Due On Mineral Rights Acquisitions December 31, 2020 December 31, 2019 Due to Andrew Currah re: Kenty Property $39,270 $37,959 The Andrew Currah Loan is unsecured and has no set terms of repayment. The change from the prior year is the effect of the change in the exchange rate. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 3. Income Taxes As at December 31, 2020 and 2019, the Company had no accrued interest and penalties related to uncertain tax positions. Reconciliation of the statutory tax rate of 21% (2019 - 21%) and income tax benefits at those rates to the effective income tax rates and income tax benefits reported in the statements of operations and comprehensive loss is as follows: Income tax rate 21.0% 21.0% For the Years Ended December 31, 2020 2019 Loss before income tax ( 860,557 ) (2,0 27,604 ) Expected income tax recovery (180,717) (425,797) Unrealized foreign exchange (1,401) (1,360) Other permanent difference 3,921 43,330 Stock-based compensation 42,000 - Change in valuation allowance 136,197 383,827 Income tax expense - - The following table summarizes the significant components of deferred tax: For the Years Ended December 31, 2020 2019 Deferred tax asset: Net operating loss carry forward 1,271,948 1,246,012 Exploration and development costs 685,774 569,359 Valuation allowance (1,957,722) (1,815,371) The Company has net operating loss carryovers of approximately $6,057,000 for federal and state income tax purposes, which begin to expire in 2030. The ultimate realization of the net operating loss is dependent upon future taxable income, if any, of the Company. Based on losses from inception, the Company determined that as of December 31, 2020 it is more likely than not that the Company will not realize benefits from the deferred tax assets. The Company will not record income tax benefits in the financial statements until it is determined that it is more likely than not that the Company will generate sufficient taxable income to realize the deferred income tax assets. As a result of the analysis, the Company determined that a valuation allowance against the deferred tax assets was required. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2020, 2019, 2017, 2016, 2015, 2014, 2013, 2012, 2011 and 2010. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
Capital Stock | 4. Capital Stock a) Common Stock During the year ended December 31, 2020, the Company issued no shares of common stock to directors and employees of the Company for services rendered. During the year ended December 31, 2020, the Company issued 3,400,000 shares of common stock to third parties for the acquisition of mineral rights at the transaction prices ranging from $0.06 to $0.07 per share for a total value of $298,000. During the year ended December 31, 2019, the Company issued 6,667,149 shares of common stock to companies controlled by officers and directors as compensation for service in prior years. This compensation was recorded in prior years at a transaction price ranging from $0.05 to $0.10 per share. Additionally, 1,000,000 shares of common stock were issued to a company controlled by the CEO amounting to $96,225 at a transaction price of $0.05, and 1,000,000 shares of common stock were issued to a company controlled by the CFO amounting to $50,000, at a transaction price of $0.05. During the year ended December 31, 2019, 8,300,000 shares of common stock were issued at a transaction price ranging from $0.15 to $0.20 per share in the acquisition of mineral rights for a total of $1,340,000. During the year ended December 31, 2019, the Company issued 75,590 shares of common stock to third parties under the S-1 registration filed with the SEC. The total value of stock issued was $11,339. b) Stock To Be Issued As of December 31, 2020, the Company has yet to issue 11,409,924 shares of common stock at the transaction prices ranging from $0.05 to $0.15 per share for a total of $2,341,728. Of these, 3,100,000 shares of common stock became to be issued during the year for acquisition of mineral rights at the transaction prices ranging from $0.06 to $0.07 per share. In addition, 1,576,534 shares of common stock are to be issued to directors for services recorded in prior years. An additional 1,995,043 shares of common stock are yet to be issued for debt settlements from prior years. For the year ended December 31, 2020, 2,000,000 shares became issuable to directors and officers of the Company for services rendered. These transactions have been recorded as consulting fees having a total value of $200,000 within shares to be issued. As December 31, 2020, the Company had not yet issued 737,347 shares of common stock to third parties for services rendered valued at $51,684. This was recorded as exploration expense in the statement of operations and comprehensive loss and within shares to be issued. c) Preferred Stock The Company has authorized Class A preferred stock available to be issued for $1.00 per share, are non-participating and non-voting and accrue cumulative dividends at the rate of 10% per annum. The Company may retract the stock at any time upon the payment of $1.00 per share plus any unpaid dividends. In the event of any wind-up of the Company, the Class A preferred stock has a priority distribution of $1.00 per share plus any unpaid dividends before any distribution to the common stockholders. During the year ended December 31, 2020, the Company issued 3,690 shares of Class A preferred stock in a private placement for $1.00 per share. As of December 31, 2020, the Company has dividends payable of $419,848 (2019 - $359,862). As at December 31, 2020 and 2019, the Company was in arrears in the dividends on preferred shares. Preferred dividends for the years ended December 31, 2020 and 2019 had an effect of $0.00 and $0.00, respectively on loss per share available to common stockholders. d) Stock-Based Compensation The Company incurred stock-based compensation expense in connection with its compensation agreements for its directors, management, and employees. Under these agreements, common stock may be issued as a signing bonus or at certain benchmark dates within an individual For the year ended December 31, 2020, 2,000,000 (2019 - 2,000,000) shares of common stock became issuable related to stock-based compensation in connection with stock-based compensation arrangements with the CEO and CFO of the Company. At the time of grant, the fair value of the related shares ranged from $0.08 - $0.12 per share and resulted in compensation expense and stock to be issued in the amount of $200,000 in the year ended December 31, 2020 and $192,450 in the year ended December 31, 2019. These fees were recorded as a component of consulting fees on the statements of operations and comprehensive loss. |
Related Party Transactions and
Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Balances | 9. Related Party Transactions and Balances The following transactions with related parties were in the normal course of operations and were measured at the exchange value which represented the amount of consideration established and agreed to by the parties. Refer to Notes 8(b) and 8(d) for the disclosure of stock-based compensation to the CEO and CFO of the Company. Receivable from Related Parties: December 31, 2020 December 31, 2019 Receivable from Benedetto Fuschino (i)(ii) $ - $ 10,698 Receivable from Sabine Frisch for stock to be issued, Sabine Frisch is the spouse of Scott Keevil a stockholder and consultant to the Company.(i) 19,000 19,000 Receivable from related parties $ 19,000 $ 29,698 (i) These amounts were non-interest bearing, unsecured and had no terms of repayment. (ii) The balance was applied against advances from stockholder. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments | 10. Financial Instruments Fair Values The Company Foreign Currency Risk Foreign currency risk is the risk that changes in the rates of exchange on foreign currencies will impact the financial position or cash flows of the Company. The Company Concentration of Credit Risk Concentration of credit risk is the risk of loss in the event that certain counterparties are unable to fulfill its obligations to the Company. The Company limits its exposure to credit loss on its cash by placing its cash with high credit quality financial institutions. The Company does not have any cash in excess of federally insured limits. Sales taxes receivable are due from the Canadian government and notes receivable are due from stockholders with whom the Company also has advances payable. Liquidity Risk Liquidity risk is the risk that the Company Market Risk Market risk is the risk that fluctuations in the market prices of minerals will impact the Company |
Segmented reporting
Segmented reporting | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Segmented reporting | 11. Segmented reporting The Company only has one reportable segment, its acquisition, exploration and development of mineral property interests in Canada. All of the mineral properties are located in Canada. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 12. Subsequent events Subsequent to the year end the Company President and CEO, Benedetto Fuschino, advanced the Company $30,000 at 0% interest secured by a promissory note with no set terms of repayment. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Mineral Properties and Exploration and Development Costs | Mineral Properties and Exploration and Development Costs The costs of acquiring mineral properties are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. |
Impairment of long-lived assets | Impairment of long-lived assets Long-lived assets that are held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Intangible assets having an indefinite useful life are assessed for impairment annually. The Company evaluates at each balance sheet date whether circumstances have occurred that indicate possible impairment. If there are indications of impairment, the Company uses future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the carrying amounts are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. |
Foreign Currency Translation | Foreign Currency Translation The Company's accounts have been translated into U.S. dollars in accordance with the provisions of Accounting Standards Codification ( Foreign Currency Matters |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. Some of the Company's more significant estimates include those related to going concern and the fair value of stock-based compensation and other equity instruments. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. |
Comprehensive Loss | Comprehensive Loss The Company follows the guidance in ASC 220, Comprehensive Income |
Fair Value of Financial Instruments | Fair Value of Financial Instruments In accordance with ASC 820, Fair Value Measurement, In determining fair value, the Company uses various valuation approaches. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs reflect the Company assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy is categorized into three levels based on the inputs as follows: Level 1 - Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value. |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to ASC 740, Income Taxes |
Stock-based Compensation | Stock-based Compensation The Company accounts for Stock-Based Compensation in accordance with ASC 718, Compensation Awards granted to non-employees fall under ASC 505-50 and are recognized based on the fair value of the goods or services received or the equity instruments, whichever is more reliable. |
Net Earnings (Loss) Per Share | Net Earnings (Loss) Per Share The Company accounts for earnings (loss) per share pursuant ASC 260, Earnings Per Share There were no dilutive financial instruments for the years ended December 31, 2020 and 2019. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting standards, when adopted, will have a material effect on the accompanying financial statements, other than those disclosed below. In December 2019, the FASB issued ASU 2019-12, The Company continues to evaluate the impact of these ASU |
Mineral Property Interests (Tab
Mineral Property Interests (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Mineral Industries Disclosures [Abstract] | |
Schedule of Mineral Property Interests | Balance at January 1, 2016 $ 1 Carson Property acquisition (a) 15,000 Impairment charge Carson Property (a) (15,000) Balance at December 31, 2016 $ 1 Rollo Property 25,000 Janes Reef Property 16,000 Asquith Property 10,000 C1 Mortimer Property (c) 941,460 Impairment charge (c) (992,460) Balance at December 31, 2017 and 2018 $ 1 C1 Mortimer amendment (c) 359,760 Chewitt Property (d) 60,360 King Solomon Mines Property (e) 1,280,000 Impairment charge (c) (d) (e) (1,700,120) Balance at December 31, 2019 $ 1 Borden Lake North (f) 15,000 Halcrow, McCool, Seymour Lake (g) 145,000 Haycock, Godfrey and Roma (h) 138,000 Hiltz (i) 21,000 Jo-Anne Property(j) 168,000 Impairment charge (f)(g)(h)(i)(j) (487,000) Balance at December 31, 2020 $ 1 |
Advances From Stockholders (Tab
Advances From Stockholders (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Related Stockholders and Various Individuals and Corporations | December 31, December 31, 2020 2019 Due to Alan Ward $74,861 $74,861 During the year ended December 31, 2016, Alan Ward, the former CEO of the Company transferred personal shareholdings to a vendor of the Company and assumed the debt previously owed to the vendor. The amount is non-interest bearing, unsecured and has no specified terms of repayment. Due to David Mason 99,053 75,825 On February 18, 2013, the Company entered into a short term loan agreement with David Mason, at the time a director of the Company, in the amount of CDN$25,000, with $7,500 common shares. The loan was formerly interest bearing at 1% compounded monthly, with an original maturity of April 18, 2013 and if unpaid thereafter bearing interest at 22.5%. The loan is secured by a 10% interest in the Mortimer property, which the Company no longer owns, or 150,000 shares of common stock. As the maturity has passed, the amount plus accrued interest is now due on demand. Interest expense on the loan was CDN$24,704 ($18,670) in 2020 and CDN$18,287 ($13,884) in 2019, which is included in the amount of the loan. Due to Friggi N. A. Inc. 376,791 280,892 Due to 1873942 Ontario Inc. 4,850 4,850 Due to Northern Rock Works Inc., - 7,592 Advances from stockholders $555,555 $444,020 |
Due On Mineral Rights Acquisi_2
Due On Mineral Rights Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Schedule of Due On Mineral Rights Acquisitions | December 31, 2020 December 31, 2019 Due to Andrew Currah re: Kenty Property $39,270 $37,959 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Reconciliation of statutory tax rate and income tax benefits | Reconciliation of the statutory tax rate of 21% (2019 - 21%) and income tax benefits at those rates to the effective income tax rates and income tax benefits reported in the statements of operations and comprehensive loss is as follows: Income tax rate 21.0% 21.0% For the Years Ended December 31, 2020 2019 Loss before income tax ( 860,557 ) (2,0 27,604 ) Expected income tax recovery (180,717) (425,797) Unrealized foreign exchange (1,401) (1,360) Other permanent difference 3,921 43,330 Stock-based compensation 42,000 - Change in valuation allowance 136,197 383,827 Income tax expense - - |
Schedule of Components of deferred tax | The following table summarizes the significant components of deferred tax: For the Years Ended December 31, 2020 2019 Deferred tax asset: Net operating loss carry forward 1,271,948 1,246,012 Exploration and development costs 685,774 569,359 Valuation allowance (1,957,722) (1,815,371) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of Receivable from Related Parties | Receivable from Related Parties: December 31, 2020 December 31, 2019 Receivable from Benedetto Fuschino (i)(ii) $ - $ 10,698 Receivable from Sabine Frisch for stock to be issued, Sabine Frisch is the spouse of Scott Keevil a stockholder and consultant to the Company.(i) 19,000 19,000 Receivable from related parties $ 19,000 $ 29,698 (i) These amounts were non-interest bearing, unsecured and had no terms of repayment. (ii) The balance was applied against advances from stockholder. |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
GOING CONCERN [Abstract] | ||
Net loss | $ 860,557 | $ 2,027,604 |
Working capital deficit | $ 1,305,724 |
Mineral Property Interests (Nar
Mineral Property Interests (Narrative) (Details) | Nov. 13, 2020USD ($)$ / shares | Apr. 14, 2020USD ($)$ / shares | Jan. 15, 2020USD ($)a$ / sharesshares | Jan. 15, 2020CAD ($)shares | Jul. 07, 2017CAD ($) | Jun. 05, 2017CAD ($) | Jun. 02, 2017CAD ($) | May 13, 2015USD ($) | Apr. 04, 2015CAD ($)shares | Oct. 04, 2014CAD ($)shares | Apr. 04, 2014CAD ($)shares | Oct. 04, 2013CAD ($)shares | May 14, 2013 | Apr. 04, 2013CAD ($)shares | Feb. 04, 2013CAD ($)shares | Oct. 04, 2012CAD ($) | Nov. 19, 2020USD ($)$ / shares | Aug. 20, 2020USD ($)$ / shares | Aug. 17, 2020USD ($) | Aug. 17, 2020CAD ($) | Nov. 19, 2019USD ($)shares | Jan. 31, 2017USD ($)shares | Jan. 31, 2017CAD ($)shares | Sep. 28, 2015USD ($) | Dec. 23, 2010USD ($)ashares | Dec. 23, 2010CAD ($)ashares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2020CAD ($)shares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2019CAD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2014USD ($) | Dec. 31, 2012USD ($) | Mar. 13, 2014 |
Shares issued, value | ||||||||||||||||||||||||||||||||||
Exploration expense | $ (67,357) | $ (9,066) | ||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||||
Mr. McClay [Member] | ||||||||||||||||||||||||||||||||||
Ownership percentage | 100.00% | |||||||||||||||||||||||||||||||||
Damages sought | $ 10,750,000 | $ 2,500,000 | ||||||||||||||||||||||||||||||||
Brian A. McClay [Member] | ||||||||||||||||||||||||||||||||||
Percentage of interest sale by McClay | 100.00% | |||||||||||||||||||||||||||||||||
Asquith Property [Member] | ||||||||||||||||||||||||||||||||||
Proceeds from sale of interest | $ 15,336 | |||||||||||||||||||||||||||||||||
Asquith Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||
Proceeds from sale of interest | $ 20,000 | |||||||||||||||||||||||||||||||||
Carson Property [Member] | ||||||||||||||||||||||||||||||||||
Area of land in acres | a | 1,812 | 1,812 | ||||||||||||||||||||||||||||||||
Period of mining lease | 21 years | 21 years | ||||||||||||||||||||||||||||||||
Lease expiration date | Jun. 30, 2024 | Jun. 30, 2024 | ||||||||||||||||||||||||||||||||
Annual lease payment | $ 1,141 | |||||||||||||||||||||||||||||||||
Loss on disposal of mineral property | $ 112,686 | |||||||||||||||||||||||||||||||||
Shares exchanged during period | shares | 300,000 | |||||||||||||||||||||||||||||||||
Shares exchanged during period, value | $ 15,000 | |||||||||||||||||||||||||||||||||
Impairment charge | $ 15,000 | |||||||||||||||||||||||||||||||||
Carson Property [Member] | Ontario Ltd [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 99,060 | |||||||||||||||||||||||||||||||||
Equity consideration | shares | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||
Royalty percentage | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||
Carson Property [Member] | Ontario Ltd [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 100,000 | |||||||||||||||||||||||||||||||||
Kenty Gold Property [Member] | ||||||||||||||||||||||||||||||||||
Impairment charge | $ 1,975,999 | |||||||||||||||||||||||||||||||||
Kenty Gold Property [Member] | Brian McClay [Member] | ||||||||||||||||||||||||||||||||||
Consideration | $ 300,000 | $ 300,000 | $ 300,000 | $ 300,000 | $ 150,000 | $ 100,000 | $ 50,000 | $ 1,500,000 | ||||||||||||||||||||||||||
Equity consideration | shares | 550,000 | 250,000 | 250,000 | 250,000 | 200,000 | 200,000 | ||||||||||||||||||||||||||||
Royalty percentage | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||
Ownership percentage | 100.00% | 50.00% | ||||||||||||||||||||||||||||||||
Indicated reserve of gold in Troy Ounces | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||
Payment to McClay for gold reserve | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Early buyout option | $ 750,000 | |||||||||||||||||||||||||||||||||
Early buyout option, shares | shares | 750,000 | 750,000 | ||||||||||||||||||||||||||||||||
Kenty Gold Property [Member] | Brian McClay [Member] | Transaction One [Member] | ||||||||||||||||||||||||||||||||||
Indicated reserve of gold in Troy Ounces | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||
Payment to McClay for gold reserve | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Kenty Gold Property [Member] | Brian McClay [Member] | Transaction Two [Member] | ||||||||||||||||||||||||||||||||||
Indicated reserve of gold in Troy Ounces | 3,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||
Payment to McClay for gold reserve | $ 2,000,000 | |||||||||||||||||||||||||||||||||
Kenty Gold Property [Member] | Brian McClay [Member] | Transaction Three [Member] | ||||||||||||||||||||||||||||||||||
Indicated reserve of gold in Troy Ounces | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||||
Payment to McClay for gold reserve | $ 2,000,000 | |||||||||||||||||||||||||||||||||
CI Mortimer Property [Member] | Joint Venture Agreement [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 5,000 | $ 5,000 | $ 10,000 | $ 75,000 | $ 10,000 | |||||||||||||||||||||||||||||
Consideration | $ 941,460 | |||||||||||||||||||||||||||||||||
Equity consideration | shares | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||
Royalty percentage | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||
Impairment charge | $ 941,460 | $ 359,760 | ||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | 50.00% | ||||||||||||||||||||||||||||||||
Shares issued | shares | 2,400,000 | |||||||||||||||||||||||||||||||||
Exploration expense | $ (300,000) | $ (500,000) | ||||||||||||||||||||||||||||||||
Payment to prospector owners | $ 750,000 | |||||||||||||||||||||||||||||||||
CI Mortimer Property [Member] | Joint Venture Agreement [Member] | Shares reduced upon prorata signing [Member] | ||||||||||||||||||||||||||||||||||
Equity consideration | shares | 9,850,000 | 9,850,000 | ||||||||||||||||||||||||||||||||
Shares issued | shares | 8,840,000 | 8,840,000 | ||||||||||||||||||||||||||||||||
Chewitt Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 360 | |||||||||||||||||||||||||||||||||
Equity consideration | shares | 300,000 | 300,000 | ||||||||||||||||||||||||||||||||
Impairment charge | $ 60,360 | |||||||||||||||||||||||||||||||||
Chewitt Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 475 | |||||||||||||||||||||||||||||||||
King Solomon Mines Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||
Equity consideration | shares | 8,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | 2.00% | ||||||||||||||||||||||||||||||||
Impairment charge | $ 1,280,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | |||||||||||||||||||||||||||||||||
King Solomon Mines Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||
Borden Lake North Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Equity consideration | shares | 100,000 | 100,000 | ||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | 2.00% | ||||||||||||||||||||||||||||||||
Area of land in acres | a | 495 | |||||||||||||||||||||||||||||||||
Impairment charge | 15,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.15 | |||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||
Borden Lake North Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Halcrow Gold, McCool, Seymour Lake Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | |||||||||||||||||||||||||||||||||
Impairment charge | 145,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.145 | |||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||
Haycock, Godfrey, Roma Lake Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||
Royalty percentage | 3.00% | |||||||||||||||||||||||||||||||||
Impairment charge | 138,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.06 | |||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||
Hiltz Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,500,000 | |||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | |||||||||||||||||||||||||||||||||
Impairment charge | 21,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.07 | |||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||
Jo-Anne Property [Member] | ||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | |||||||||||||||||||||||||||||||||
Impairment charge | $ 168,000 | |||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | |||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.07 | |||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% |
Mineral Property Interests (Sch
Mineral Property Interests (Schedule of Mineral Property Interests) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2016 | |
Mineral Industries Disclosures [Abstract] | ||||
Balance at January 1, 2016 | $ 1 | $ 1 | $ 1 | |
Carson Property acquisition | 15,000 | |||
Impairment charge Carson Property | (15,000) | |||
Rollo Property | $ 25,000 | |||
Janes Reef Property | 16,000 | |||
Asquith Property | 10,000 | |||
C1 Mortimer Property/amendment | 359,760 | 941,460 | ||
Chewitt Property | 60,360 | |||
King Solomon Mines Property | 1,280,000 | |||
Borden Lake North | 15,000 | |||
Halcrow, McCool, Seymour Lake | 145,000 | |||
Haycock, Godfrey and Roma | 138,000 | |||
Hiltz | 21,000 | |||
Jo-Anne Property | 168,000 | |||
Impairment charge | (487,000) | (1,700,120) | (992,460) | |
Balance at December 2020 | $ 1 | $ 1 | $ 1 | $ 1 |
Advances From Stockholders (Nar
Advances From Stockholders (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||
Feb. 18, 2013CAD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2020CAD ($) | Dec. 31, 2019USD ($)shares | Dec. 31, 2019CAD ($)shares | |
Short-term Debt [Line Items] | |||||
Common shares outstanding | shares | 141,484,681 | 138,084,681 | 138,084,681 | ||
Due to David Mason - former Director and Consultant [Member] | |||||
Short-term Debt [Line Items] | |||||
Common shares outstanding | shares | 7,500 | ||||
Interest rate | 1.00% | ||||
Maturity date | Apr. 18, 2013 | ||||
Interest rate if unpaid | 22.50% | ||||
Interest expense | $ 18,670 | $ 13,884 | |||
Due to David Mason - former Director and Consultant [Member] | CDN [Member] | |||||
Short-term Debt [Line Items] | |||||
Short term borrowings | $ 25,000 | ||||
Interest expense | $ 24,704 | $ 18,287 | |||
Due to David Mason - former Director and Consultant [Member] | CI Mortimer Property [Member] | |||||
Short-term Debt [Line Items] | |||||
Common shares outstanding | shares | 150,000 | ||||
Interest percentage | 10.00% | ||||
Due to Friggi N. A. Inc, Benedetto Fuschino, President and CEO [Member] | |||||
Short-term Debt [Line Items] | |||||
Unsecured debt | $ 95,898 |
Advances From Stockholders (Sch
Advances From Stockholders (Schedule of Related Stockholders and Various Individuals and Corporations) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Advances From Stockholders | $ 555,555 | $ 444,020 |
Due to Alan Ward - former CEO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 74,861 | 74,861 |
Due to David Mason - former Director and Consultant [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 99,053 | 75,825 |
Due to Benedetto Fuschino, President and CEO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 376,791 | 280,892 |
Due to 1873942 Ontario Inc, Dino Micacchi, Secretary-Treasurer and CFO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 4,850 | 4,850 |
Due to Northern Rock Works Inci, Scott Keevil , stockholder and consultan [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | $ 7,592 |
Due On Mineral Rights Acquisi_3
Due On Mineral Rights Acquisitions (Schedule of Due On Mineral Rights) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Business Combinations [Abstract] | ||
Due to Andrew Currah re: Kenty Property | $ 39,270 | $ 37,959 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Statutory tax rate | 21.00% | 21.00% |
Net operating loss carryovers | $ 6,057,000 | |
Exprie | Dec. 31, 2030 |
Income Taxes (Schedule of Recon
Income Taxes (Schedule of Reconciliation of statutory tax rate and income tax benefits) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Loss before income tax | $ (860,557) | $ (2,027,604) |
Expected income tax recovery | (180,717) | (425,797) |
Unrealized foreign exchange | (1,401) | (1,360) |
Other permanent difference | 3,921 | 43,330 |
Stock-based compensation | 42,000 | |
Change in valuation allowance | 136,197 | 383,827 |
Income tax expense |
Income Taxes (Schedule of Compo
Income Taxes (Schedule of Components of deferred tax) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax asset: | ||
Net operating loss carry forward | $ 1,271,948 | $ 1,246,012 |
Exploration and development costs | 685,774 | 569,359 |
Valuation allowance | $ (1,957,722) | $ (1,815,371) |
Capital Stock (Details)
Capital Stock (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Shares issued, Value | ||
Shares issued for services, value | $ 51,684 | |
Share price | $ 0.05 | |
Share value of acquisition of mineral rights | $ 298,000 | 1,340,000 |
Stock-based compensation | $ 200,000 | 192,450 |
Shares yet to be issued for services | 11,409,924 | |
Shares yet to be issued for services, value | $ 2,341,728 | |
Shares yet to be issued for settlement of shareholder loans | 1,995,043 | |
Dividends payable | $ 419,848 | $ 359,862 |
Preferred dividends per share | $ 0 | $ 0 |
Stock Issued During Period, Share-based Compensation | 2,000,000 | 2,000,000 |
Preferred Class A [Member] | ||
Shares issued | 3,690 | |
Share price | $ 1 | |
Dividend percentage | 10.00% | |
Retract price of stock | $ 1 | |
Priority distribution price per share in case of wind up | $ 1 | |
Mineral property acquisition [Member] | ||
Issuance of stock for acquisition of mineral properties | 3,100,000 | |
Common Stock [Member] | ||
Shares issued | 75,590 | |
Shares issued, Value | $ 7 | |
Shares issued for services | ||
Shares issued for services, value | ||
Issuance of stock for acquisition of mineral properties | 3,400,000 | 8,300,000 |
Share value of acquisition of mineral rights | $ 340 | $ 830 |
Minimum [Member] | ||
Share price | $ 0.05 | |
Minimum [Member] | Mineral property acquisition [Member] | ||
Acquisition price per share | 0.06 | $ 0.15 |
Maximum [Member] | ||
Share price | 0.15 | |
Maximum [Member] | Mineral property acquisition [Member] | ||
Acquisition price per share | $ 0.07 | $ 0.20 |
Third Parties [Member] | ||
Shares issued | 3,400,000 | |
Shares issued, Value | $ 298,000 | $ 11,339 |
Shares issued for services | 737,347 | |
Shares issued for services, value | $ 51,684 | |
Third Parties [Member] | Minimum [Member] | ||
Share price | $ 0.06 | |
Third Parties [Member] | Maximum [Member] | ||
Share price | $ 0.07 | |
Directors and officers [Member] | ||
Shares issued | 1,576,534 | |
Shares issued for services | 6,667,149 | |
Directors and officers [Member] | Minimum [Member] | ||
Share price | $ 0.05 | |
Directors and officers [Member] | Maximum [Member] | ||
Share price | $ 0.10 | |
CEO [Member] | ||
Shares issued for services | 1,000,000 | |
Shares issued for services, value | $ 96,225 | |
Share price | $ 0.08 | $ 0.05 |
CEO [Member] | Minimum [Member] | ||
Share price | 0.05 | |
CEO [Member] | Maximum [Member] | ||
Share price | 0.12 | |
CFO [Member] | ||
Shares issued for services | 1,000,000 | |
Shares issued for services, value | $ 50,000 | |
Share price | $ 0.12 | $ 0.05 |
Related Party Transactions an_2
Related Party Transactions and Balances (Schedule of Receivable from Related Parties) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Receivable from related parties | $ 19,000 | $ 29,698 | |
Receivable from Benedetto Fuschino [Member] | |||
Related Party Transaction [Line Items] | |||
Receivable from related parties | [1],[2] | 10,698 | |
Receivable from Sabine Frisch [Member] | |||
Related Party Transaction [Line Items] | |||
Receivable from related parties | [2] | $ 19,000 | $ 19,000 |
[1] | The balance was applied against advances from stockholder. | ||
[2] | These amounts were non-interest bearing, unsecured and had no terms of repayment. |