Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Mar. 18, 2022 | |
Cover [Abstract] | ||
Entity Central Index Key | 0001475430 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Amendment Flag | false | |
Document Type | 10-K | |
Document Annual Report | true | |
Document Period End Date | Dec. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-53809 | |
Entity Registrant Name | JOSHUA GOLD RESOURCES INC. | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 27-0531073 | |
Entity Address, Address Line One | Unit 20 | |
Entity Address, Address Line Two | 1033 Pattullo Avenue | |
Entity Address, City or Town | Woodstock | |
Entity Address, State or Province | ON | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | N4V 1C8 | |
City Area Code | 226 | |
Local Phone Number | 888-5610 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Entity Well-Known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Auditor Attestation Flag | false | |
Entity Shell Company | false | |
Entity Public Float | $ 2,747,647 | |
Entity Common Stock, Shares Outstanding | 153,556,362 | |
Auditor Name | MNP LLP | |
Auditor Location | Mississauga, Canada | |
Auditor Firm Id | 1930 |
Balance Sheet
Balance Sheet - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash | $ 293 | $ 3,716 |
Accounts receivable and other assets | 11,043 | 11,237 |
Prepaid expenses | 88,330 | |
Notes receivable (Note 7) | 10,521 | 19,000 |
Total Current Assets | 110,187 | 33,953 |
Other Assets | ||
Mineral properties (Note 3) | 1 | 1 |
Total Assets | 110,188 | 33,954 |
Current Liabilities | ||
Accounts payable | 314,671 | 297,594 |
Accrued liabilities | 27,278 | 27,410 |
Advances from stockholders (Note 4) | 635,131 | 555,555 |
Dividends Payable (Note 6) | 486,202 | 419,848 |
Due on mineral rights (Note 5) | 39,270 | |
Total Liabilities | 1,463,282 | 1,339,677 |
Stockholders' Deficit | ||
Preference Shares, $0.0001 par value; 100,000,000 shares authorized; 243,690 shares issued and outstanding (December 31, 2020 - 243,690) (Note 6) | 25 | 25 |
Common Stock, $0.0001 par value; 400,000,000 shares authorized; 153,556,362 shares issued and outstanding (December 31, 2020 - 141,484,68) (Note 6) | 15,346 | 14,139 |
Additional Paid In Capital (Note 6) | $ 12,278,733 | $ 11,179,536 |
Shares to be Issued (Note 6) | 2,256,444 | 2,341,728 |
Accumulated other comprehensive income | $ 51,549 | $ 46,998 |
Accumulated deficit | (15,955,191) | (14,888,149) |
Total Stockholders' Deficit | (1,353,094) | (1,305,723) |
Total Liabilities and Stockholders' Deficit | $ 110,188 | $ 33,954 |
Balance Sheet (Parenthetical)
Balance Sheet (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
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 | 243,690 |
Preference Shares, Shares Outstanding | 243,690 | 243,690 |
Common Stock, Par Value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 400,000,000 | 400,000,000 |
Common Stock, Shares Issued | 153,556,362 | 141,484,681 |
Common Stock, Shares Outstanding | 153,556,362 | 141,484,681 |
Statements of Operations and Co
Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
REVENUE | ||
Total Revenues | $ 15,336 | |
OPERATING EXPENSES | ||
Consulting fees (Note 6) | 116,400 | 200,000 |
Professional fees | 69,926 | 95,821 |
General and administrative | 499,546 | 13,717 |
Exploration | 1,904 | 67,357 |
Interest | 24,013 | 18,670 |
Foreign exchange loss (gain) | 701 | (6,672) |
Loss on note receivable (Note 7) | 8,479 | |
Loss on debt settlement (Note 6) | 9,720 | |
Loss on impairment of properties (Note 3) | 270,000 | 487,000 |
TOTAL OPERATING EXPENSES | 1,000,689 | 875,893 |
NET LOSS | (1,000,689) | (860,557) |
OTHER COMPREHENSIVE LOSS | ||
Foreign currency translation gain (loss) | 4,551 | (13,532) |
NET LOSS AND COMPREHENSIVE LOSS | (996,138) | (874,089) |
NET LOSS | (1,000,689) | (860,557) |
Dividends on Preferred Stock | (66,353) | (59,986) |
NET LOSS ATTRIBUTED TO COMMON SHAREHOLDERS | $ (1,067,042) | $ (920,543) |
LOSS PER SHARE - BASIC AND DILUTED | $ 0.0067 | $ 0.0062 |
WEIGHTED NUMBER OF SHARES OUTSTANDING - BASIC AND DILUTED | 150,986,918 | 139,729,490 |
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, 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 for compensation (Note 6) | 200,000 | 200,000 | |||||
Stock issued from private placement (Note 6) | $ 1 | 3,689 | 3,690 | ||||
Stock issued from private placement (Note 6), shares | 3,690 | ||||||
Stock issued for mineral rights (Note 6) | $ 340 | 297,660 | 298,000 | ||||
Stock issued for mineral rights (Note 6), shares | 3,400,000 | ||||||
Stock issued for services (Note 6) | 51,685 | 51,685 | |||||
Stock to be issued for mineral rights (Note 6) | 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 | |||||
Stock to be issued for compensation (Note 6) | 116,400 | 116,400 | |||||
Stock issued from private placement (Note 6) | $ 20 | 9,980 | 10,000 | ||||
Stock issued from private placement (Note 6), shares | 200,000 | ||||||
Stock issued for debt settlement (Note 6) | $ 74 | 61,331 | (12,685) | 48,720 | |||
Stock issued for debt settlement (Note 6), shares | 738,347 | ||||||
Stock issued for mineral rights (Note 6) | $ 720 | 458,280 | (189,000) | 270,000 | |||
Stock issued for mineral rights (Note 6), shares | 7,200,000 | ||||||
Stock issued for services (Note 6) | $ 353 | 529,647 | 530,000 | ||||
Stock issued for services (Note 6), shares | 3,533,334 | ||||||
Stock issued for services (Note 6) | $ 40 | 39,960 | 40,000 | ||||
Stock issued for services (Note 6), shares | 400,000 | ||||||
Foreign currency translation | 4,551 | 4,551 | |||||
Net loss | (1,000,689) | (1,000,689) | |||||
Dividends | (66,353) | (66,353) | |||||
Balance at Dec. 31, 2021 | $ 25 | $ 15,346 | $ 12,278,733 | $ 2,256,444 | $ 51,549 | $ (15,955,191) | $ (1,353,094) |
Balance, shares at Dec. 31, 2021 | 243,690 | 153,556,362 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS USED IN OPERATIONS OPERATING ACTIVITIES | ||
Net loss | $ (1,000,689) | $ (860,557) |
Adjustments for non-cash items: | ||
Loss on impairment of mineral rights | 270,000 | 487,000 |
Loss on debt settlement (Note 6) | 9,720 | |
Loss on note receivable (Note 7) | 8,479 | |
Interest on shareholder loans | 24,013 | |
Stock based compensation | 116,400 | 200,000 |
Issuance of Common shares for services (Note 6) | 570,000 | 51,685 |
Adjustments for changes in working capital | ||
Accounts receivable and other assets | 8,673 | 8,653 |
Prepaid expenses | (88,330) | |
Accounts payable and accrued liabilities | 16,337 | (281) |
Due on mineral rights | 1,311 | |
NET CASH USED IN OPERATING ACTIVITIES | (65,397) | (112,189) |
FINANCING ACTIVITIES | ||
Advances from stockholders (Note 4) | 56,172 | 111,535 |
Advances from Private placement (Note 6) | 10,000 | |
Debt settlement of mineral rights loan (note 7) | (8,479) | |
Loss on Note receivable (Note 7) | (39,270) | |
Issuance of shares from debt settlement (Note 7) | 39,000 | |
Issuance of Preferred shares (Note 6) | 3,691 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 57,423 | 115,226 |
EFFECT OF EXCHANGE RATE CHANGE FOR OPENING CASH | 4,551 | (13,532) |
NET (DECREASE) IN CASH | (3,423) | (10,495) |
CASH, BEGINNING OF YEAR | 3,716 | 14,211 |
CASH, END OF YEAR | 293 | 3,716 |
SUPPLLEMENTARY CASH FLOW INFORMATION | ||
Income taxes paid | ||
Interest paid | ||
Stock issuances to for services | 570,000 | |
Stock issuances to acquire mineral properties | $ 270,000 | $ 487,000 |
Nature of Operations and Going
Nature of Operations and Going Concern | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Going Concern | 1. Nature of Operations and Going Concern Joshua Gold Resources Inc. (referred to herein as “Joshua”, or the “Company”) was incorporated on July 10, 2009 in the State of Nevada, USA. The Company operates as a mineral exploration business headquartered at 1033 Pattullo Avenue, Unit 20 in 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’s efforts are devoted to financing and developing these property interests. The Company has the rights to ten mineral properties in Ontario and in the Northwest Territories, Canada. There has been no determination whether the Company’s interests in unproven mineral properties contain mineral reserves, which are economically recoverable. 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 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 $1,000,689 for the year ended December 31, 2021, and a working capital deficit of $1,353,095. 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’s ability to continue as a going concern unless it can begin to generate net profit and raise adequate financing. 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 the action and plan above will be sufficient for the Company to continue operating as a going concern. The 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, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. 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 (“ASC”) No. 830 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 46 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 2. Significant Accounting Policies – continued 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 Fund. 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 47 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 2. Significant Accounting Policies – continued Stock-based Compensation The Company accounts for Stock-Based Compensation in accordance with ASC 718, Compensation – Stock 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, 2021 and 2020. Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In November 2019, the FASB issued ASU No. 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer, that simplifies and increases comparability of accounting for nonemployee share-based payments, specifically those made to customers. The new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU 2019-08 is effective for fiscal years beginning after December 15, 2019 and had no impact on the Company’s financial statements. Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements. |
Mineral Property Interests
Mineral Property Interests | 12 Months Ended |
Dec. 31, 2021 | |
Mineral Industries Disclosures [Abstract] | |
Mineral Property Interests | 3. Mineral Property Interests Mineral Properties 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 Niobe Property (k) 120,000 Benoit West Property (l) 150,000 Impairment charge (k)(l) (270,000) Balance at December 31, 2021 1 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 $ 2. Equity consideration of 3. Royalty of 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’s interest in the property consists of a 21-year mining lease, which expires on December 31, 2024 and for which the Company was responsible for making annual lease payments of $1,141, in order to keep the lease in good standing. 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. 49 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 3. Mineral Property Interests -continued a) Carson Property -continued 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 $15,000 on the carrying value of the Carson Property based on the substantial doubt of the Company’s ability to raise adequate financing. b) Kenty Gold Property McClay Conveyed Property As consideration for the sale of the McClay Conveyed Property, the Company agreed to deliver the following to McClay in the manner set forth below: (a) Closing Date (b) February 4, 2013 (i) CDN$ (ii) 200,000 (c) April 4, 2013 (i) CDN$ (ii) 200,000 (d) October 4, 2013 (i) CDN$ (ii) 250,000 (e) April 4, 2014 (i) CDN$ (ii) 250,000 (f) October 4, 2014 (i) CDN$ (ii) 250,000 (g) April 4, 2015 (i) CDN$ (ii) 550,000 (h) Reserve 50 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 n) Kenty Gold Property-continued (i) Production (i) Upon production of (ii) Upon production of (iii) Upon production of (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 “Seller NSR”) on the terms and conditions as set out in the McClay Agreement. Notwithstanding the foregoing, at any point in time following the closing date and upon the Company’s sole election, McClay shall sell to Company fifty percent (50%) of the Seller NSR for a purchase price of CDN$1,500,000. 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’s ability to raise adequate financing to further develop and explore this property. 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. As at December 31, 2021, 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. 51 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 o) 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 $ 2. Pay 3. Spend five hundred thousand ($ 4. Grant Larry Salo first right of refusal on all exploration work. 5. Pay the prospector owners, pro rata, CDN$ 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’s ability to raise adequate financing to further develop and explore this property. 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 $ 2. The Company must spend three hundred thousand dollars ($ 3. Upon signing, the Company will issue two million, four hundred thousand ( 4. The Company must keep each and all claims within the group that comprises the Property in good standing. If the 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 52 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 As at December 31, 2021 and December 31, 2020, the Company had yet to issue 2,400,000 common shares of stock to the prospector owners. 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’s ability to raise adequate financing. p) Chewitt Property During the year ended December 31, 2020, 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’s ability to raise adequate financing. q) King Solomon Mines Property During the year ended December 31, 2020, 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 per cent (2.0%) Net Smelter Royalty (NSR) to be paid. Vendor granted the Purchaser an Option to purchase 50% of the NSR (1%NSR) for $2 Million Canadian dollars ($2,000,000). 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’s ability to raise adequate financing. r) 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 will transfer equity consideration of 100,000 shares of common stock, valued at US$0.15 per share recorded in shares to be issued and agreed to a two per cent (2.0%) Net Smelter Royalty (NSR) to be paid. Vendor granted the Purchaser an Option to purchase 75% of the NSR (1.5%NSR) for $1 Million Canadian dollars ($1,000,000). During the year ended December 31, 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’s ability to raise adequate financing. s) 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 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’s ability to raise adequate financing. 53 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 t) 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 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’s ability to raise adequate financing. u) 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. 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’s ability to raise adequate financing. v) 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 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’s ability to raise adequate financing. w) Niobe Property On May 15, 2021, the Company entered into a mineral property acquisition agreement, pursuant to which the Company acquired 100% interest in fifteen claims, known as the Borden North Property in Collins\Chewett Townships located in Northern Ontario. Under the acquisition agreement, the Company issued equity consideration of 2,000,000 shares of common stock, valued at US$0.06 per share and agreed to a two per cent (2.0%) Net Smelter Royalty (NSR) to be paid. The Vendor granted the Purchaser an Option to purchase 50% of the NSR (1.0%NSR) for $2 Million Canadian dollars ($2,000,000). In the year ended December 31, 2021, the Company recognized an impairment charge of $120,000 on the carrying value of the Niobe Property based on the substantial doubt of the Company’s ability to raise adequate financing. In addition, no work was done on these claims and they expired in December of 2021. x) Benoit West Property On August 17, 2021, the Company entered into a mineral property acquisition agreement, pursuant to which the Company acquired 100% interest in fifteen claims, known as the Benoit West located in Northern Ontario. Under the acquisition agreement, the Company issued equity consideration of 2,500,000 shares of common stock, valued at US$0.06 per share and agreed to a two per cent (2.0%) Net Smelter Royalty (NSR) to be paid. Vendor granted the Purchaser an Option to purchase 50% of the NSR (1.0%NSR) for $1 Million Canadian dollars ($1,000,000). In the year ended December 31, 2021, the Company recognized an impairment charge of $150,000 on the carrying value of the Benoit West Property based on the substantial doubt of the Company’s ability to raise adequate financing. No work was done on these claims and they expired in December of 2021. |
Advances From Stockholders
Advances From Stockholders | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Advances From Stockholders | 4. Advances From Stockholders The Company has advances from related stockholders and various individuals and corporations who are not related parties. December 31, 2021 December 31, 2020 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 Penny Currah, 1,172 - Due to David Mason 122,587 99,053 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 common shares. As the maturity has passed, the amount plus accrued interest is now due on demand. Interest expense on the loan was CDN$30,722 ($24,012) in 2021 and CDN$24,704 ($18,670) in 2020 which is included in the amount of the loan. Due to Friggi N. A. Inc. 431,660 376,791 Due to 1873942 Ontario Inc. 4,850 4,850 Advances from Shareholders $ 635,131 $ 555,555 |
Amounts Due On Mineral Rights A
Amounts Due On Mineral Rights Acquisitions | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Amounts Due On Mineral Rights Acquisitions | 5. Amounts Due On Mineral Rights Acquisitions December 31, 2021 December 31, 2020 Due to Andrew Currah re: Kenty Property $ - $ 39,270 On December 13, 2021 Andrew Currah sold $12,500 of his loan to a third party for $12,500 cash at fair value after which the entire debt was settled for shares of common stock and warrants as described in note 6. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Capital Stock | 6. Capital Stock a) Common Stock During the year ended December 31, 2021, 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 no shares of common stock to directors and employees of the Company for services rendered. During the year ended December 31, 2021, the Company issued 7,200,000 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 $459,000. 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, 2021, the Company issued 3,933,334 shares of common stock to third parties for investor services at the transaction prices ranging from $0.10 to $0.15 per share for a total value of $570,000. During the year ended December 31, 2021, the Company issued 738,347 shares of common stock to third parties for exploration services at the transaction price of $0.07 per share for a total value of $61,405. During the year ended December 31, 2021, the Company issued 200,000 shares of common stock to third parties for a private placement $0.02 per share for a total value of $10,000. b) Stock To be Issued As of December 31, 2021, the Company has yet to issue 9,521,577 (2020 – 9,009,924) shares of common stock at the transaction prices ranging from $0.02 to $0.15 per share for a total of $2,256,444 (2020 -$2,341,728). In addition, 3,576,534 (2020 – 1,576,534) shares of common stock are to be issued to directors for services recorded in prior years. An additional 1,995,043 (2020 – 1,995,043) shares of common stock are yet to be issued for debt settlements from prior years. For the year ended December 31, 2021, 2,000,000 (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 $116,400 (2020 $200,000) within shares to be issued. 56 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 6. Capital Stock b) Stock To be Issued - continued For the year ended December 31, 2021, the Company had not yet issued 1,950,000 shares of common stock and warrants for 1,950,000 shares of common stock with an expiry date of December 13, 2024 for debt settlements having a total value of $39,000. The fair value of the commons shares was $0.021 per share for a total of $40,950. The warrants were valued at $0.004 each for a total of $7,860 based on the following assumptions: 1. Exercise price of each warrant $0.20 2. Expected life in years 3 3. Annualized Volatility 100% 4. Annual rate of quarterly dividends 0% 5. Discount rate – Bond Equivalent yield 0.95% 6. This was recorded as reduction in current liabilities and as an increase 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. d) Dividends As at December 31, 2021, the Company was in arrears in dividends on preferred shares. The balance of dividends payable of $486,202 (December 31, 2020 - $419,848) includes dividends of $278,769 (December 31, 2020 - $254,400) and accrued interest of $207,433, (December 31, 2020 - $165,448), accrued at 10.0% interest compounded annually. Preferred dividends for the year ended December 31, 2021 and 2020 had an effect of $nil on loss per share available to common stockholders. e) Warrants During the year, 1,950,000 warrants became issuable for a debt settlement as described in note 6 b). The Company had no warrants outstanding at December 31, 2020. 57 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 6. Capital Stock – continued f) Stock-Based Compensation The Company incurred stock-based compensation expense in connection with its compensation agreements for its directors and officers. Under these agreements, common stock may be issued as a signing bonus or at certain benchmark dates within an individual’s period of service. Stock-based compensation is calculated as the fair value of the stock issued or to be issued to an individual at the time the employment contract was signed and is recorded at the time it becomes owing to the individual. Stock issued to a director, manager, or employee may be deferred in the event that their contract requires the individual to remain employed with the Company for a specified time period after issuance. For the year ended December 31, 2021, 2,000,000 shares (December 31, 2020 – 2,000,000) became issuable in connection with stock-based compensation arrangements. These shares were valued ranging from $0.03 to $0.11 per share and resulted in compensation expense of $116,400. These fees were recorded as a component of consulting fees in the amount of $116,400 (December 31, 2020 – $200,000) on the statements of operations and comprehensive loss. |
Related Party Transactions and
Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Balances | 7. 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 Note 6(f) for the disclosure of stock-based compensation to the CEO and CFO of the Company. Refer to Note 4 related to advances from stockholders and debt settlements with related parties. Receivable from Related Parties December 31, 2021 December 31, 2020 Receivable from Sabine Frisch for stock to be issued, Sabine Frisch is the wife of Scott Keevil a stockholder and consultant to the Company $ 10,521 $ 19,000 This amount is non-interest bearing, unsecured and had no terms of repayment. Subsequent to the year end this receivable was settled by netting the balance of $19,000 against the accounts payable debt amount owing to Firelake Resources Inc. of $13,425 as described in Note 9. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. Income Taxes As at December 31, 2021 and 2020, the Company had no accrued interest and penalties related to uncertain tax positions. Reconciliation of the statutory tax rate of 21% (2020 - 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, 2021 2020 Loss before income tax $ (1,000,689 ) $ (860,557 ) Expected income tax recovery (210,145 ) (180,717 ) Unrealized foreign exchange 147 (1,401 ) Other permanent difference 5,043 3,921 Stock-based compensation 24,444 42,000 Change in valuation allowance 180,511 136,197 Income tax expense $ - $ - 58 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 The following table summarizes the significant components of deferred tax: For the Years Ended December 31, 2021 2020 Deferred tax asset: Net operating loss carry forward $ 6,626,368 $ 6,056,895 Exploration and development costs 3,555693 3,265,590 Valuation allowance $ (10,182,061) $ (9,322,485) The Company has net operating loss carryovers of approximately $6.6 million for federal and state income tax purposes, which begin to expire in 2029 The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011 and 2010. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments | 9. Financial Instruments Fair Values The Company’s financial instruments consist of cash, accounts receivable, notes receivable, accounts payable and accrued liabilities, dividends payable, advances from stockholders, and amounts due on mineral rights acquisition. The fair values of these financial instruments approximate their carrying values due to the short-term maturity of these instruments. The Company’s only financial instruments carried at fair value on the balance sheet is cash, which is classified at Level 1 and is measured using quoted market prices. Furthermore, there were no transfers of financial instruments between Levels 1, 2, and 3 during the years ended December 31, 2021 and 2020. 59 Index Joshua Gold Resources Inc. (An Exploration Stage Company) Notes to Financial Statements For the year ended December 31, 2021 9. Financial Instruments - continued 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’s functional currency is the Canadian dollar, thus the Company is exposed to foreign currency risks in relation to certain payables that are to be settled in US funds. Management monitors its foreign currency exposure regularly to minimize the risk of an adverse impact on its cash flows. 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’s cash flows from operations will not be sufficient for the Company to continue operating and discharge its liabilities. The Company is exposed to liquidity risk as its continued operation is dependent upon its ability to obtain financing, either in the form of debt or equity, or achieving profitable operations in order to satisfy its liabilities as they come due. See note 1. Market Risk Market risk is the risk that fluctuations in the market prices of minerals will impact the Company’s future cash flows. The Company is exposed to market risk on the price of gold, which will determine its ability to build and achieve profitable operations, the amount of exploration and development work that the Company will be able to perform, and the number of financing opportunities that will be available. Management believes that it would be premature at this point to enter into any hedging or forward contracts to mitigate its exposure to specific market price risks. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 10. Subsequent Events Subsequent to the year end the Company President, Benedetto Fuschino, advanced the company $25,000 through Friggi N.A. Inc., a company controlled by him, and $10,000 through 1815618 Ontario Inc., a company controlled by him, at 0% interest secured by a promissory note with no set terms of repayment. Subsequent to the year end the Company settled an account receivable from Sabine Frisch of $19,000 and an account payable of $10,421 to Firelake Resources Inc., a corporation controlled by Scott Keevil, the husband of Ms. Frisch. The settlement resulted in a loss to the Company in the amount of $8,479. The loss on settlement is recognized in the statement of operations ended December 31, 2021. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
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 (“ASC”) No. 830 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 Fund. 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 – Stock 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, 2021 and 2020. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In November 2019, the FASB issued ASU No. 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer, that simplifies and increases comparability of accounting for nonemployee share-based payments, specifically those made to customers. The new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU 2019-08 is effective for fiscal years beginning after December 15, 2019 and had no impact on the Company’s financial statements. Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements. |
Mineral Property Interests (Tab
Mineral Property Interests (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Mineral Industries Disclosures [Abstract] | |
Schedule of Mineral Property Interests | Mineral Properties 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 Niobe Property (k) 120,000 Benoit West Property (l) 150,000 Impairment charge (k)(l) (270,000) Balance at December 31, 2021 1 |
Advances From Stockholders (Tab
Advances From Stockholders (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Related Stockholders and Various Individuals and Corporations | December 31, 2021 December 31, 2020 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 Penny Currah, 1,172 - Due to David Mason 122,587 99,053 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 common shares. As the maturity has passed, the amount plus accrued interest is now due on demand. Interest expense on the loan was CDN$30,722 ($24,012) in 2021 and CDN$24,704 ($18,670) in 2020 which is included in the amount of the loan. Due to Friggi N. A. Inc. 431,660 376,791 Due to 1873942 Ontario Inc. 4,850 4,850 Advances from Shareholders $ 635,131 $ 555,555 |
Amounts Due On Mineral Rights_2
Amounts Due On Mineral Rights Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Amounts Due On Mineral Rights Acquisitions | December 31, 2021 December 31, 2020 Due to Andrew Currah re: Kenty Property $ - $ 39,270 |
Capital Stock (Tables)
Capital Stock (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Warrant Assumptions | For the year ended December 31, 2021, the Company had not yet issued 1,950,000 shares of common stock and warrants for 1,950,000 shares of common stock with an expiry date of December 13, 2024 for debt settlements having a total value of $39,000. The fair value of the commons shares was $0.021 per share for a total of $40,950. The warrants were valued at $0.004 each for a total of $7,860 based on the following assumptions: 1. Exercise price of each warrant $0.20 2. Expected life in years 3 3. Annualized Volatility 100% 4. Annual rate of quarterly dividends 0% 5. Discount rate – Bond Equivalent yield 0.95% 6. |
Related Party Transactions an_2
Related Party Transactions and Balances (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of Receivable from Related Parties | Receivable from Related Parties December 31, 2021 December 31, 2020 Receivable from Sabine Frisch for stock to be issued, Sabine Frisch is the wife of Scott Keevil a stockholder and consultant to the Company $ 10,521 $ 19,000 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Reconciliation of statutory tax rate and income tax benefits | As at December 31, 2021 and 2020, the Company had no accrued interest and penalties related to uncertain tax positions. Reconciliation of the statutory tax rate of 21% (2020 - 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, 2021 2020 Loss before income tax $ (1,000,689 ) $ (860,557 ) Expected income tax recovery (210,145 ) (180,717 ) Unrealized foreign exchange 147 (1,401 ) Other permanent difference 5,043 3,921 Stock-based compensation 24,444 42,000 Change in valuation allowance 180,511 136,197 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, 2021 2020 Deferred tax asset: Net operating loss carry forward $ 6,626,368 $ 6,056,895 Exploration and development costs 3,555693 3,265,590 Valuation allowance $ (10,182,061) $ (9,322,485) |
Nature of Operations and Goin_2
Nature of Operations and Going Concern (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ 1,000,689 | $ 860,557 |
Working capital deficit | $ 1,353,095 |
Mineral Property Interests (Nar
Mineral Property Interests (Narrative) (Details) | May 15, 2021USD ($)$ / sharesshares | Nov. 13, 2020USD ($)$ / shares | Nov. 13, 2020CAD ($) | Apr. 14, 2020USD ($)$ / shares | Apr. 14, 2020CAD ($) | Jan. 15, 2020USD ($)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 ($)shares | Oct. 04, 2012CAD ($) | Aug. 17, 2021USD ($)$ / sharesshares | Aug. 17, 2021CAD ($)shares | Nov. 19, 2020USD ($)$ / shares | Nov. 19, 2020CAD ($) | Aug. 20, 2020USD ($)$ / shares | Aug. 20, 2020CAD ($) | Nov. 19, 2019USD ($)shares | Jan. 31, 2017USD ($)shares | Jan. 31, 2017CAD ($)shares | Sep. 28, 2015USD ($) | Dec. 23, 2010USD ($)ashares | Dec. 23, 2010CAD ($)ashares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2021CAD ($)shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2020CAD ($)shares | Dec. 31, 2019USD ($) | Dec. 31, 2016USD ($)shares | Dec. 31, 2014USD ($) | Dec. 31, 2012USD ($) | Mar. 13, 2014 |
Exploration expense | $ (1,904) | $ (67,357) | ||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||
Brian A. McClay [Member] | ||||||||||||||||||||||||||||||||||||||||
Percentage of interest sale by McClay | 100.00% | |||||||||||||||||||||||||||||||||||||||
Mr. McClay [Member] | ||||||||||||||||||||||||||||||||||||||||
Ownership percentage | 100.00% | |||||||||||||||||||||||||||||||||||||||
Damages sought | $ 10,750,000 | $ 2,500,000 | ||||||||||||||||||||||||||||||||||||||
Borden Lake North Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Halcrow Gold, McCool, Seymour Lake Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Haycock, Godfrey, Roma Lake Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Hiltz Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Jo-Anne Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Niobe Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||
Equity consideration | shares | 2,000,000 | |||||||||||||||||||||||||||||||||||||||
Share price | $ / shares | $ 0.06 | |||||||||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | |||||||||||||||||||||||||||||||||||||||
Impairment charge | $ 120,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | |||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Niobe Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||
Benoit West Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||
Equity consideration | shares | 2,500,000 | 2,500,000 | ||||||||||||||||||||||||||||||||||||||
Share price | $ / shares | $ 0.06 | |||||||||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | 2.00% | ||||||||||||||||||||||||||||||||||||||
Impairment charge | $ 150,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | |||||||||||||||||||||||||||||||||||||||
Equity interest purchased | 100.00% | |||||||||||||||||||||||||||||||||||||||
Benoit West Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||
Carson Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Area of land in acres | a | 1,812 | 1,812 | ||||||||||||||||||||||||||||||||||||||
Period of mining lease | 21 years | 21 years | ||||||||||||||||||||||||||||||||||||||
Lease expiration date | Dec. 31, 2024 | Dec. 31, 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] | ||||||||||||||||||||||||||||||||||||||||
Equity consideration | shares | 2,400,000 | 2,400,000 | 2,400,000 | 2,400,000 | ||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.15 | |||||||||||||||||||||||||||||||||||||||
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% | 2.00% | ||||||||||||||||||||||||||||||||||||||
Impairment charge | $ 145,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.145 | |||||||||||||||||||||||||||||||||||||||
Halcrow Gold, McCool, Seymour Lake Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||
Haycock, Godfrey, Roma Lake Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||
Royalty percentage | 3.00% | 3.00% | ||||||||||||||||||||||||||||||||||||||
Impairment charge | 138,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.06 | |||||||||||||||||||||||||||||||||||||||
Haycock, Godfrey, Roma Lake Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||
Hiltz Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | 2.00% | ||||||||||||||||||||||||||||||||||||||
Impairment charge | 21,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 75.00% | |||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.07 | |||||||||||||||||||||||||||||||||||||||
Hiltz Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 1,500,000 | |||||||||||||||||||||||||||||||||||||||
Jo-Anne Property [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 | |||||||||||||||||||||||||||||||||||||||
Royalty percentage | 2.00% | 2.00% | ||||||||||||||||||||||||||||||||||||||
Impairment charge | $ 168,000 | |||||||||||||||||||||||||||||||||||||||
Ownership percentage | 50.00% | |||||||||||||||||||||||||||||||||||||||
Common per share | $ / shares | $ 0.07 | |||||||||||||||||||||||||||||||||||||||
Jo-Anne Property [Member] | CDN [Member] | ||||||||||||||||||||||||||||||||||||||||
Cash consideration | $ 2,000,000 |
Mineral Property Interests (Sch
Mineral Property Interests (Schedule of Mineral Property Interests) (Details) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Mineral Industries Disclosures [Abstract] | ||||||
Balance at January 1 | $ 1 | $ 1 | $ 1 | $ 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 | 359,760 | 941,460 | |||
Chewitt Property | 60,360 | 60,360 | ||||
King Solomon Mines Property | 1,280,000 | 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 | |||||
Niobe Property | 120,000 | |||||
Benoit West Property | 150,000 | |||||
Impairment charge | (270,000) | (487,000) | (1,700,120) | (1,700,120) | (992,460) | |
Balance at December 31 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 |
Advances From Stockholders (Nar
Advances From Stockholders (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||
Feb. 18, 2013CAD ($)shares | Dec. 31, 2021USD ($)shares | Dec. 31, 2021CAD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2020CAD ($)shares | |
Short-term Debt [Line Items] | |||||
Common shares outstanding | shares | 153,556,362 | 141,484,681 | 141,484,681 | ||
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 | $ 24,012 | $ 18,670 | |||
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 David Mason - former Director and Consultant [Member] | CDN [Member] | |||||
Short-term Debt [Line Items] | |||||
Short term borrowings | $ 25,000 | ||||
Interest expense | $ 30,722 | $ 24,704 | |||
Due to Friggi N. A. Inc, Benedetto Fuschino, President and CEO [Member] | |||||
Short-term Debt [Line Items] | |||||
Unsecured debt | $ 55,000 |
Advances From Stockholders (Sch
Advances From Stockholders (Schedule of Related Stockholders and Various Individuals and Corporations) (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Advances From Stockholders | $ 635,131 | $ 555,555 |
Due to Alan Ward - former CEO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 74,861 | 74,861 |
Due to Penny Currah, stockholder and consultant [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 1,172 | |
Due to David Mason - former Director and Consultant [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 122,587 | 99,053 |
Due to Benedetto Fuschino, President and CEO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | 431,660 | 376,791 |
Due to 1873942 Ontario Inc, Dino Micacchi, Secretary-Treasurer and CFO [Member] | ||
Debt Instrument [Line Items] | ||
Advances From Stockholders | $ 4,850 | $ 4,850 |
Amounts Due On Mineral Rights_3
Amounts Due On Mineral Rights Acquisitions (Schedule of Due On Mineral Rights Acquisitions) (Details) - USD ($) | Dec. 31, 2021 | Dec. 13, 2021 | Dec. 31, 2020 |
Business Combinations [Abstract] | |||
Due to Andrew Currah re: Kenty Property | $ 39,270 | ||
Amount of debt sold | $ 12,500 | ||
Fair value of debt sold | $ 12,500 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Shares issued for services, value | $ 530,000 | $ 51,685 |
Stock-based compensation | 116,400 | 200,000 |
Consulting fees | $ 116,400 | $ 200,000 |
Shares became issuable in connection with stock-based compensation arrangements | 2,000,000 | 2,000,000 |
Shares yet to be issued for services | 9,521,577 | 9,009,924 |
Shares yet to be issued for services, value | $ 2,256,444 | $ 2,341,728 |
Shares yet to be issued for settlement of shareholder loans | 1,995,043 | 1,995,043 |
Dividends payable | $ 486,202 | $ 419,848 |
Dividends | 278,769 | 254,400 |
Accrued interest | $ 207,433 | 165,448 |
Accrued interest percentage | 10.00% | |
Debt settlements | $ (9,720) | |
Preferred Class A [Member] | ||
Share price | $ 1 | |
Dividend percentage | 10.00% | |
Retract price of stock | $ 1 | |
Priority distribution price per share in case of wind up | 1 | |
Minimum [Member] | ||
Share price | 0.02 | |
Maximum [Member] | ||
Share price | $ 0.15 | |
Third Parties [Member] | ||
Shares issued | 7,200,000 | 3,400,000 |
Shares issued, Value | $ 459,000 | $ 298,000 |
Third Parties [Member] | Minimum [Member] | ||
Share price | $ 0.06 | $ 0.06 |
Third Parties [Member] | Maximum [Member] | ||
Share price | $ 0.07 | $ 0.07 |
Investor Services [Member] | ||
Shares issued | 3,933,334 | |
Shares issued, Value | $ 570,000 | |
Investor Services [Member] | Minimum [Member] | ||
Share price | $ 0.10 | |
Investor Services [Member] | Maximum [Member] | ||
Share price | $ 0.15 | |
Exploration Services [Member] | ||
Shares issued | 738,347 | |
Shares issued, Value | $ 61,405 | |
Share price | $ 0.07 | |
Private Placement[Member] | ||
Shares issued | 200,000 | |
Shares issued, Value | $ 10,000 | |
Share price | $ 0.02 | |
Directors and officers [Member] | ||
Shares issued | 3,576,534 | 1,576,534 |
Shares issued for services | 2,000,000 | 2,000,000 |
CEO [Member] | ||
Share price | $ 0.03 | |
CFO [Member] | ||
Share price | $ 0.11 | |
Common Stock [Member] | ||
Shares issued for services | 3,533,334 | |
Shares issued for services, value | $ 353 | |
Stock Issued During Period, Share-based Compensation | 1,950,000 | |
Common stock and warrants [Member] | ||
Shares issued, Value | $ 40,950 | |
Expiration Date | Dec. 13, 2024 | |
Debt settlements | $ 39,000 | |
Commons shares per share | $ 0.021 | |
Exercise price of warrants | $ 0.004 | |
Fair value of warrants | $ 7,860 | |
Warrant [Member] | ||
Stock Issued During Period, Share-based Compensation | 1,950,000 | |
Debt settlements | $ 1,950,000 |
Capital Stock (Schedule of Warr
Capital Stock (Schedule of Warrant Assumptions) (Details) - Warrant [Member] | 12 Months Ended |
Dec. 31, 2021$ / shares | |
Exercise price of each warrant | $ 0.20 |
Expected life in years | 3 years |
Annualized Volatility | 100.00% |
Annual rate of quarterly dividends | 0.00% |
Discount rate - Bond Equivalent yield | 0.95% |
Related Party Transactions an_3
Related Party Transactions and Balances (Schedule of Receivable from Related Parties) (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | ||
Receivable from related parties | $ 10,521 | $ 19,000 |
Account payable | 314,671 | $ 297,594 |
Firelake Resources Inc [Member] | ||
Related Party Transaction [Line Items] | ||
Receivable from related parties | 19,000 | |
Account payable | $ 13,425 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Statutory tax rate | 21.00% | 21.00% |
Net operating loss carryovers | $ 6.6 | |
Exprie | Dec. 31, 2029 |
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, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Loss before income tax | $ (1,000,689) | $ (860,557) |
Expected income tax recovery | (210,145) | (180,717) |
Unrealized foreign exchange | 147 | (1,401) |
Other permanent difference | 5,043 | 3,921 |
Stock-based compensation | 24,444 | 42,000 |
Change in valuation allowance | 180,511 | 136,197 |
Income tax expense |
Income Taxes (Schedule of Compo
Income Taxes (Schedule of Components of deferred tax) (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax asset: | ||
Net operating loss carry forward | $ 6,626,368 | $ 6,056,895 |
Exploration and development costs | 3,555,693 | 3,265,590 |
Valuation allowance | $ (10,182,061) | $ (9,322,485) |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Subsequent Event [Line Items] | ||
Loan from related party | $ 56,172 | $ 111,535 |
Receivable from related parties | 10,521 | 19,000 |
Account payable | 314,671 | 297,594 |
Loss on note receivable | (8,479) | |
Receivable from Sabine Frisch [Member] | ||
Subsequent Event [Line Items] | ||
Receivable from related parties | 19,000 | |
Account payable | 10,421 | |
Due to Benedetto Fuschino, President [Member] | Secured by Promissory Note [Member] | ||
Subsequent Event [Line Items] | ||
Loan from related party | $ 25,000 | |
Debt interest rate | 0.00% | |
Ontario Inc [Member] | Secured by Promissory Note [Member] | ||
Subsequent Event [Line Items] | ||
Loan from related party | $ 10,000 |