Passport Potash (PPI.H) 10-Q 20 Jan 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 30, 2014	Jan. 15, 2015
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	30-Nov-14
Trading Symbol	ppi
Entity Registrant Name	PASSPORT POTASH INC
Entity Central Index Key	1508128
Current Fiscal Year End Date	-27
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		109,490,859
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Nov. 30, 2014	Feb. 28, 2014
Current assets
Cash	$2,344	$49,062
Receivables	11,671	4,853
Prepaid expenses	31,254	113,554
Deferred issuance costs	5,472	3,598
Total current assets	50,741	171,067
Equipment	561	660
Unproven mineral properties	1,600,000	1,600,000
Reclamation deposits	15,000	15,000
Total non-current assets	1,615,561	1,615,660
TOTAL ASSETS	1,666,302	1,786,727
Current liabilities
Trade payables and accrued liabilities	1,990,969	980,983
Convertible debentures	0	553,233
Convertible debentures - subscriptions received	112,250	95,000
Derivative liability	2,006	42,007
Loans	375,882	546,242
Total current liabilities	2,481,107	2,217,465
Convertible debentures	6,226,045	5,000,889
Total non-current liabilities	6,226,045	5,000,889
TOTAL LIABILITIES	8,707,152	7,218,354
STOCKHOLDERS' DEFICIENCY
Common stock - Unlimited authorized without par value	35,569,788	35,032,933
Additional paid-in capital	17,073,970	16,922,064
Accumulated deficit	-59,684,608	-57,386,624
TOTAL STOCKHOLDERS' DEFICIENCY	-7,040,850	-5,431,627
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$1,666,302	$1,786,727

Consolidated_statement_of_oper

Consolidated statement of operations (USD $)	3 Months Ended		9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2014	Nov. 30, 2013
Operating Expenses
Administration	$12,657	$15,036	$41,757	$100,496
Advertising	3,093	11,201	13,854	83,744
Business development	31,206	48,292	56,811	288,777
Consulting fees	37,500	227,741	187,500	558,716
Depreciation	33	41	99	123
Foreign exchange loss	-18,245	-9,912	13,997	9,393
Investor relations	21,514	72,963	81,771	213,653
Management fees	160,409	163,123	482,784	575,238
Mineral property impairment	0	0	0	0
Mineral property option payments and exploration costs	88,712	323,603	450,184	1,399,961
Office and miscellaneous	17,433	25,545	36,801	60,915
Professional fees	24,605	18,779	58,165	294,636
Property investigation costs	0	0	0	0
Transfer agent and filing fees	6,706	19,058	44,363	78,158
Net loss before other items	-385,623	-915,470	-1,468,086	-3,663,810
Other items
Accretion expense	-103,008	-1,035,052	-312,777	-3,111,452
Change in fair value of derivative liability	2,725	54,711	40,001	1,566,224
Interest income	0	0	0	0
Interest expense on convertible debentures	-158,521	-216,363	-557,122	-649,310
Gain (loss) on debt settlement	0	0	0	0
Other income	0	0	0	0
Non-Operating Income (Loss)	-258,804	-1,196,704	-829,898	-2,194,538
Net loss	($644,427)	($2,112,174)	($2,297,984)	($5,858,348)
Loss per share - basic and diluted	($0.01)	($0.02)	($0.02)	($0.06)
Weighted average number of shares outstanding- basic and diluted	109,490,859	91,809,694	109,096,633	91,802,397

Consolidated_statement_of_stoc

Consolidated statement of stockholders equity (deficiency) (USD $)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Beginning Balance at Feb. 28, 2014	$35,032,933	$16,922,064	($57,386,624)	($5,431,627)
Beginning Balance (Shares) at Feb. 28, 2014	105,651,157
Net Loss			-2,297,984	-2,297,984
Rounding upon stock split (Shares)	140
Shares issued for convertible debentures exercised	460,748			460,748
Shares issued for convertible debentures exercised (Shares)	3,839,562
Amount allocated to share purchase warrants on re-issuance of debenture		75,953		75,953
Amount allocated to beneficial conversion feature on re- issuance of debenture		75,953		75,953
Accretion of discount for future periods on exercised convertible debentures	58,052			58,052
Accretion of beneficial conversion feature for future periods on exercised convertible debentures	18,055			18,055
Ending Balance at Nov. 30, 2014	$35,569,788	$17,073,970	($59,684,608)	($7,040,850)
Ending Balance (Shares) at Nov. 30, 2014	109,490,859

Consolidated_statements_of_cas

Consolidated statements of cash flows (USD $)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2013
Operating activities
Net loss	($2,297,984)	($5,858,348)
Adjustments for:
Accretion	312,777	3,111,452
Amortization of deferred issuance costs	1,449	29,533
Depreciation	99	123
Interest expense on convertible debentures	557,122	649,310
Fair value adjustment on warrants	-40,001	-1,566,224
Foreign exchange	0	0
Loss on debt settlement	0	0
Mineral property impairment	0	0
Mineral property option payments - shares	0	0
Other income	0	0
Stock-based compensation	0	368,905
Changes in non-cash working capital items:
Receivables	-6,818	37,618
Injunction bond	0	350,000
Prepaid expenses	82,300	149,501
Trade payables and accrued liabilities	1,005,196	546,010
Net cash flows used in operating activities	-385,860	-2,182,120
Investing activities
Reclamation deposits	0	0
Long term deposits	0	0
Mineral property acquisition costs	0	0
Net cash flows used in investing activities	0	0
Financing activities
Debentures - net of issue costs	296,677	132,505
Proceeds on issuance of common shares - net of issue costs	0	8,157
Proceeds from Loans	29,965	500,728
Subscriptions received	12,500	0
Net cash flows from financing activities	339,142	641,390
Decrease in cash	-46,718	-1,540,730
Cash, beginning	49,062	1,643,771
Cash, ending	2,344	103,041
Supplemental disclosures:
Income tax	0	0
Interest	$0	$0

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Nov. 30, 2014
ORGANIZATION AND BASIS OF PRESENTATION [Text Block]	NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION
	Passport Potash Inc. (the “Company”) was incorporated on August 11, 1987. The Company’s corporate jurisdiction is the province of British Columbia, Canada. The Company is engaged in the acquisition and exploration of mineral properties. The Company’s shares are listed on the TSX-Venture Exchange (“TSX-V”).
	The unaudited consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial for the year ended February 28, 2014. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended November 30, 2014, are not necessarily indicative of the results that may be expected for any other interim period or the entire year. For further information, these unaudited consolidated financial statements and the related notes should be read in conjunction with the Company’s audited consolidated financial statements for the year ended February 28, 2014 included in the Company’s Form 10-K.
	The Company’s unaudited consolidated financial statements are prepared on a going concern basis in accordance with US generally accepted accounting principles (“GAAP”) which contemplates the realization of assets and discharge of liabilities and commitments in the normal course of business. The Company is in the exploration stage. It has not generated operating revenues to date, and has accumulated losses of $59,684,608 since inception. The Company has funded its operations through the issuance of capital stock and debt. In the longer term, the Company will also need to repay outstanding convertible debentures if these are not converted which have a maturity date of August 19, 2016. At November 30, 2014, the Company had cash of $2,344 and a working capital deficit of $2,430,366. Management plans to raise additional funds through equity and/or debt financings. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The Company’s ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations.

EQUIPMENT

EQUIPMENT	9 Months Ended
	Nov. 30, 2014
EQUIPMENT [Text Block]	NOTE 2 – EQUIPMENT
			Equipment
	Cost:
	At November 30, 2014 and February 28, 2014	$	34,527
	Depreciation:
	At February 28, 2014	$	33,867
	Charge for the period		99
	At November 30, 2014	$	33,966
	Net book value:
	At February 28, 2014	$	660
	At November 30, 2014	$	561

UNPROVEN_MINERAL_PROPERTIES

UNPROVEN MINERAL PROPERTIES

9 Months Ended

Nov. 30, 2014

UNPROVEN MINERAL PROPERTIES [Text Block]

NOTE 3 – UNPROVEN MINERAL PROPERTIES

Holbrook Basin Project

November

February 28,

February 28,

30, 2014

Additions

2014

Additions

2013

Property acquisition costs

$

Cash paid for property

$

1,600,000

$

-

$

1,600,000

-

$

1,600,000

Option payments and exploration costs

Assay

$

309,680

$

-

$

309,680

$

26,603

$

283,077

Drilling and related costs

8,992,677

12,843

8,979,834

456,640

8,523,194

Geological consulting

3,410,707

162,000

3,248,707

757,676

2,491,031

License and filing

700,208

55,558

644,650

200,974

443,676

Option payments

6,362,855

-

6,362,855

-

6,362,855

Project administration

3,380,604

219,783

3,160,821

482,375

2,678,446

Recovery

(112,668

)

-

(112,668

)

-

(112,668

)

$

23,044,063

$

450,184

$

22,593,879

$

1,924,268

$

20,669,611

The Company acquired mineral claims in the Holbrook Basin Project through the following agreements:

South West Exploration Property, Arizona

On September 30, 2008, as amended, the Company entered into an option agreement to purchase 100% of certain mining claims located in the Holbrook Basin region of Arizona, USA. In terms of the Southwest Option Agreement, the Company:

made cash payments of $575,000 in stages;

issued 1,000,000 share purchase options with a fair value of $61,152 ;

issued 8,181,000 shares in stages with a fair value of $551,921 ; and

incurred property expenditures of $200,000.

During the year ended February 29, 2012, the Company purchased the 1% Net Smelter Royalty (“NSR”) for $1 million. The Company now owns a 100% interest, with no NSR, in the South West Exploration Property.

At November 30, 2014, the Company had a reclamation bond of $15,000 (February 28, 2014: $15,000) for work done on the South West Exploration Property.

Twin Butte Ranch Property, Arizona

On August 28, 2009, as amended, the Company entered into a four year lease with an option to purchase private deeded land within the Holbrook Basin. Under the terms of the agreement the Company can earn a 100% undivided interest in the deeded land and sub-surface mineral rights by making lease payments totaling $1,250,000 over five and a half years and, upon exercising its option to purchase, by paying $20,000,000 for the entire Twin Butte Ranch including all sub-surface mineral rights except those pertaining to oil and gas, petrified wood and geothermal resources. There are no royalties associated with the sub-surface mineral rights.

Twin Butte Ranch Property, Arizona (cont’d)

Details of the payments under the agreement are as follows:

a)

A payment of $50,000 and $10,000 legal costs on or before November 26, 2009 (paid);

b)

A payment of $25,000 on September 17, 2010 (paid);

c)

A payment of $75,000 on December 1, 2010 (paid);

d)

A payment of $150,000 on August 28, 2011 (paid);

e)

A payment of $200,000 on August 28, 2012 (paid);

f)

A payment of $250,000 on earlier of December 1, 2013 or within thirty days of closing a financing of at least $5,000,000 (not paid);

g)

A payment of $250,000 on August 28, 2014 (not paid); and

h)

A payment of $250,000 on May 1, 2015.

The Company has not made the required $250,000 payments that were due on December 1, 2013 and August 28, 2014; therefore, there are past-due payment obligations. On April 17, 2014, the Company was served a notice of breach that it did not remedy within 30 days. The optionor may now terminate the option at their discretion.

The lease agreement and purchase option will expire on January 6, 2016 or such other time as is mutually acceptable and agreed to in writing by both parties.

Sweetwater/American Potash Property, Arizona

On November 12, 2010, the Company entered into an option agreement to acquire 100% of the right, title and interest in exploration permits within the Holbrook basin region of Arizona, USA. In terms of the Sweetwater/American Potash option agreement, the Company:

made cash payments of $90,000 in stages;

issued 500,000 shares of the Company with a fair value of $130,444 ; and

paid all taxes and exploration work to keep the claims in good standing.

During the year ended February 28, 2013, the Company purchased the 2% NSR for $300,000. The Company now has a 100% interest, with no NSR, in the Sweetwater/American Potash Property.

Mesa Uranium, Arizona

On August 31, 2010, the Company entered into an agreement to acquire 100% undivided interest in exploration permits within the Holbrook basin region of Arizona, USA. In terms of the Mesa Uranium option agreement, the Company:

made cash payments of $20,000 ;

issued 500,000 shares of the Company with a fair value of $40,625 ;

competed $119,518 exploration expenditures in 2010; and

obtained the maximum available assessment work credits or payments in lieu of the minimum requirements to keep the claims in good standing.

During the year ended February 29, 2012, the Company purchased the 2% NSR for $300,000. The Company now has a 100% interest, with no NSR, in the Mesa Property.

Ringbolt Property, Arizona

On March 28, 2011 the Company entered into an option agreement to acquire 90% undivided legal and beneficial interest in and to the Ringbolt Property free and clear of all encumbrances in exploration leases for the following consideration:

a)           $50,000 upon execution of the agreement (paid);

b)           $250,000 upon TSX-V approval on May 17, 2011 (paid) and 1,000,000 common shares (issued with a fair value of $669,384);

c)           Minimum exploration expenditures within 1 year of TSX-V approval of $500,000 (completed);

d)           On or before the first anniversary of TSX-V approval $350,000 and 1,400,000 common shares (see below);

e)           Minimum exploration expenditures within first year of first anniversary of TSX-V approval of $750,000 ;

f)           $350,000 upon second anniversary of TSX-V approval and 1,600,000 common shares; and

g)           Minimum exploration expenditures within 1 year of second anniversary of TSX-V approval of $1,000,000.

On completion of all terms above, the Company shall have earned a 90% interest and title of the permits shall be transferred to the Company. Upon exercise of the option agreement, the Company shall be deemed to be granted an option to purchase the remaining 10% interest in the Property for the payment of $5,000,000.

The Company paid a finder’s fee of $25,825 to a third party in connection with this option agreement.

During the year ended February 28, 2013, the Company became the subject to a civil action in the Third Judicial District court, Salt Lake County, State of Utah in connection with the Ringbolt Property option agreement. The optionors were seeking payment of $350,000, 1,400,000 of the Company’s shares and $20,716 in expenses related to the property, alternatively damages of $644,000. The Company did not make the required payment and did not issue the shares to the optionors as it contended that the optionors were in default of the option agreement. The Company counter claimed for specific performance under the option agreement and paid the $350,000 and issued the 1,400,000 shares into the Utah court.

The court ruled that tender to the court was not sufficient; therefore, the cash and shares were released to the optionors on July 10, 2012. The fair value of the 1,400,000 shares was $271,936. The Company deposited a bond in the amount of $350,000 with the Court as security for the preliminary injunction, which was disclosed on the balance sheet as an injunction bond. During the year ended February 28, 2014, the injunction bond was returned to the Company. On September 10, 2012, the court granted the motion for a preliminary injunction, which enjoined the optionors from terminating the Ringbolt option agreement based upon the grounds alleged by the optionors.

On October 30, 2012 the Company entered into an amended option agreement (the “Amendment Agreement”) to acquire 100% undivided legal and beneficial interest in and to the Ringbolt Property, free and clear of all encumbrances in exploration leases, according to the following terms:

1

The Company will pay to the optionors a total of $3,850,000 according to the following schedule:

a)

$150,000 upon execution of the Amendment Agreement (paid);

b)

$2,450,000 upon TSX-V approval (paid); and

c)

$1,250,000 on or before October 31, 2014 (not paid).

2

The Company issue 750,000 common shares to the optionors upon TSX-V approval (issued with a fair value of $168,291).

3

Upon written notice from the TSX-V that the Amendment Agreement has been approved, the parties shall simultaneously do the following:

a)

The optionors shall assign all of their right, title, and interest in and to the Ringbolt Property and will take all necessary action with the Arizona State Land Department to effect such assignment (completed); and

b)

The Company will place into escrow on behalf of the optionors the $2,450,000 cash payment and the 750,000 common shares (issued with a fair value of $168,291) of the Company. The cash payment and shares will be released to the optionors upon receipt of confirmation of the assignment of the Ringbolt Property to the Company (completed).

4

There will be no royalty attached to the transferred permits.

5

Should the Company sell or in any way transfer its interest in the Ringbolt Property, the optionors will receive a bonus payment in accordance with the following schedule:

a)

If the Company receives less than $30 million for the transaction, then no bonus payment shall be payable;

b)

If the Company receives greater than $30 million but less than $40 million the optionors would receive 20% of the gross consideration in excess of $30 million;

c)

If the Company receives greater than $40 million but less than $50 million the optionors would receive $2,000,000 plus 10% of the gross consideration in excess of $40 million, to a maximum of $1,000,000 ; or

d)

If the Company receives greater than $50 million the optionors would receive $3,000,000 plus 20% of the gross consideration received in excess of $50 million.

Based upon the foregoing, the parties have agreed to a mutual release and settlement of any claims and causes of action between the parties as of the date of the Amended Agreement.

On December 8, 2012, the Company entered into a second amendment to the option agreement to acquire 100% of the Ringbolt Property. The amendment stipulates that in the event that the cash payment of $2,450,000 following TSX-V approval of the Amendment Agreement is delayed, the parties agree to extend the payment deadline for a period of 30 days from the date of final approval from the TSX-V with the payment of $100,000 to one of the optionors with this extension payment to be deducted from the $2,450,000 payment due following TSX-V approval. A payment of $100,000 was made to the optionor on December 20, 2012 and the balance of $2,350,000 on 28 February 2013.

On October 20, 2014, the Company provided formal written notice to the Optionors that it was abandoning the option granted to it in the option agreement. Therefore, the Company has no further obligations to make any option payments.

Cooperative Agreement and Joint Exploration Agreement (“JEA”) with the Hopi Tribe

Effective November 1, 2012, the Company and The Hopi Tribe, a federally recognized Indian Tribe, entered into a Joint Exploration Agreement (the “JEA”) pursuant to which the parties agree to explore the Hopi land sections (the “Hopi Property”) which are checker-boarded with the Company’s southern landholdings in accordance with an exploration program.

Under the JEA, the Company is responsible for all costs, charges and expenses incurred in connection with the exploration program.

The JEA automatically terminated at 5:00 PM Arizona time on October 15, 2014.

Joint Exploration Agreement – HNZ Potash, LLC (“HNZ”)

On July 27, 2012 the Company entered into a Joint Exploration Agreement in which the Company assigned 50% of their interest in twenty-one permitted parcels within the Holbrook Basin Project (from Holbrook Basin Property and Twin Buttes Ranch above) to HNZ. In return, HNZ reimbursed the Company for 50% of mineral exploration costs previously incurred on the permits, ($112,668 received during the year ended February 28, 2013), and the Company will be liable for 50% of the future costs relating to the permits.

Fitzgerald Ranch, Arizona

On May 7, 2012, as amended, the Company entered into an agreement to acquire the Fitzgerald Ranch for $17,000,000 as follows:

a)

A down payment of $500,000 (paid) ($25,000 was expensed in the year ended February 29,2012, and the remainder is included in long-term deposits);

b)

A payment of $500,000 (paid) upon execution of an amendment to the agreement in November 2012 (included in long-term deposits);

c)

A payment of $500,000 to be paid on the earlier of either October 31, 2013, or within 30 days of closing the Company’s next financing (not paid);

d)

A payment of $500,000 to be paid on or before December 31, 2013 (not paid);

e)

A payment of $1,000,000 to be paid on or before December 31, 2014 (not paid); and

f)

The balance of $14,000,000 to be paid on the closing of the sale which is on or before June 30, 2015.

The Company has not made the required $500,000 payments that were due on October 31, 2013 and December 31, 2013 and $1,000,000 due on December 31, 2014; therefore, there are past-due payments and $975,000 capitalized to long-term deposits has been written-off as at the year ended February 28, 2014. The Company is currently in negotiations to amend the agreement.

CONVERTIBLE_DEBENTURES

CONVERTIBLE DEBENTURES	9 Months Ended
	Nov. 30, 2014
CONVERTIBLE DEBENTURES [Text Block]	NOTE 4 – CONVERTIBLE PROMISORY NOTES PAYABLE
	Tranche I
	On February 19, 2013, the Company issued $5,305,540 of convertible debentures (of which $4,140,000 were to related parties) which mature on February 19, 2014 (the “Maturity Date”) and bear interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of the convertible debentures is converted (the “Tranche I Debentures”). The principal amount of the Tranche I Debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.38 per share until the Maturity Date. The Tranches I Debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition, 2.5 common share purchase warrants were issued for each US$1.00 of principal amount of the Tranche I Debentures, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.38 per share for a period of one year from the date of issuance. 13,263,850 warrants were issued. The Company determined the fair value of the warrants to be $2,049,578 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 76%; Risk-free interest rate – 1.07%; Expected life – 1 year.
	The proceeds were allocated to the Tranche I Debentures and the warrants based on their relative fair values and accordingly, $3,827,098 was allocated to the debentures and $1,478,442 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $2,316,159. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with the issuance of the Tranche I Debentures, the Company paid $73,958 in finder’s fees and issued 101,882 finder’s warrants. Each finder’s warrant entitles the holder to purchase one common share for US$0.19 per share for one year from the date of issuance. The fair value of the finder’s warrant portion calculated using the Black-Scholes Option Pricing Model was $5,770, recorded as a debenture issuance cost. The Company also incurred legal and filing fee costs of $51,528, of which $37,380 was recorded as deferred debt issuance costs and $93,876 was charged to additional paid-in capital. (See also Tranche I - Amended)
	Tranche II
	On March 14, 2013, the Company issued $285,000 of convertible debentures which mature on March 14, 2014 (the “Maturity Date”), and bear interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of each debenture is converted. The principal amount of the debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.38 per share until the Maturity Date. The debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition, 2.5 common share purchase warrants were issued for each US$1.00 of principal amount of the debentures, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.38 per share for a period of one year from the date of issuance. 712,500 warrants were issued. The Company determined the fair value of the warrants to be $130,826 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 75%; Risk-free interest rate – 0.97%; Expected life – 1 year.
	The proceeds were allocated to the debentures and the warrants based on their relative fair values and accordingly, $195,334 was allocated to the debentures and $89,666 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $164,666. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this private placement of debentures, the Company also incurred filing fee costs of $1,425, of which $353 was recorded as deferred debt issuance costs and $1,272 was charged to additional paid-in capital. (See also Tranche II - Amended)
	Tranche III
	On April 4, 2013, the Company issued $200,000 of convertible debentures which will mature on April 4, 2014 (the “Maturity Date”) and bear interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of each debenture is converted. The principal amount of the debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.38 per share until the Maturity Date. The Debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition, 2.5 common share purchase warrants were issued for each US$1.00 of principal amount of the debentures, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.38 per share for a period of one year from the date of issuance. 500,000 warrants were issued. The Company determined the fair value of the warrants to be $62,896 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 75%; Risk-free interest rate – 0.97%; Expected life – 1 year.
	The proceeds were allocated to the debentures and the warrants based on their relative fair values and accordingly, $152,151 was allocated to the debentures and $47,849 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	The Company recognized the value of the embedded beneficial conversion feature of $58,375. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this issuance of debentures, the Company also incurred filing fee costs of $1,070, of which $502 was recorded as deferred debt issuance costs and $568 was charged to additional paid-in capital. (See also Tranche III – Amended)
	Amendment to Convertible Debentures – Tranche I to III
	On February 6, 2014, the Company entered into agreements with all the debenture holders to modify the terms of the convertible debentures as follows:
	•	The maturity date is extended to August 19, 2016;
	•	All interest due on the original maturity date is added to the principal of the convertible debentures;
	•	The debt is now convertible to into common shares of the Company at $0.12 per share; and
	•	The warrants will have a term of 42 months from the date of issuance and are exercisable to purchase one common share of the Company at $0.12 per share.
	All the amendments came into effect on the original maturity dates.
	Tranche I - Amended
	On February 19, 2014, the amendments came into effect for the Tranche I Debentures. As a result, the principal of the Tranche I Debentures increased to $6,095,894.
	The Company determined the incremental fair value of the warrants issued with the Tranche I Debentures due to the modifications to be $866,295 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 93%; Risk-free interest rate – 1.16%; Expected life – 2.5 years.
	The proceeds were allocated to the Tranche I Debentures and the warrants based on their relative fair values and accordingly, $5,258,905 was allocated to the Tranche I Debentures and $836,989 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $260,317. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this amendment, the Company paid $4,379 issuance costs, of which $3,591 was recorded as deferred debt issuance costs and $788 was charged to additional paid-in capital.
	Tranche II - Amended
	On March 14, 2014, the amendments came into effect for the Tranche II Debentures. As a result, the principal of the Tranche II Debentures increased to $327,750.
	The Company determined the incremental fair value of the warrants issued with the Tranche II Debentures due to the modifications to be $46,523 using the Black-Scholes Option Pricing Model with the following assumptions:
	Expected dividend yield – 0; Expected stock price volatility – 94%; Risk-free interest rate – 1.09%; Expected life – 2.44 years.
	The proceeds were allocated to the Tranche II Debentures and the warrants based on their relative fair values and accordingly, $282,892 was allocated to the Tranche II Debentures and $44,858 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $44,858. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	Tranche III - Amended
	On April 04, 2014, the amendments came into effect for the Tranche III Debentures. As a result, the principal of the Tranche III Debentures increased to $230,000.
	The Company determined the incremental fair value of the warrants issued with the Tranche III Debentures due to the modifications to be $32,261 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 94%; Risk-free interest rate – 1.07%; Expected life – 2.38 years.
	The proceeds were allocated to the Tranche III Debentures and the warrants based on their relative fair values and accordingly, $198,905 was allocated to the Tranche III Debentures and $31,095 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $31,095. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	Tranche V
	On May 29, 2014, the Company issued $500,000 of convertible debentures (the “Tranche V Debentures”) to a related party (Note 6), which mature on May 29, 2018 and bear interest at 9.5% per annum which shall accrue and be payable annually, as to 50% in cash and 50% in common shares of the Company subject to the right of the holder to elect to have an interest payment satisfied entirely in common shares. The issuance price of common shares to pay accrued interest will be determined by the market price of the common shares, as defined by the policies of the TSX-V. The principal amount of the debenture is convertible at any time prior to the maturity date, in whole or in part, at the option of the holder into either: (a) units of the Company at a conversion price of US$0.12 per unit, with each unit being comprised of one common share and one common share purchase warrant of the Company, with each warrant exercisable into one common share at a price of US$0.12 per warrant share until May 29, 2018, or (b) into 10% of the shares of the Company’s wholly-owned subsidiary, PPI East Block Holding Corp., or pro rata portion thereof for any partial conversion. If option (a) is chosen, 4,166,667 shares and 4,166,667 warrants will be issued. The Tranches V Debentures are secured by a first ranking floating charge security on all of the Company’s assets. In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company determined the value of the embedded beneficial conversion feature to be negative and as such no discount has been recorded.
	In connection with this private placement of debentures, the Company paid $3,323 issuance costs which were recorded as deferred debt issuance costs.
			November 30,			February 28,
	Convertible Debentures – Tranche I to III & Tranche V		2014			2014
	Opening balance	$	5,554,122		$	1,624,128
	Subscriptions received		500,000			485,000
	Detachable share purchase warrants – amended		(75,953	)		(974,504	)
	Intrinsic beneficial conversion feature - amended		(75,953	)		(483,358	)
	Exercised – transfer to share capital		(536,855	)		(5,000	)
	Accretion		312,777			4,049,613
	Interest		552,372			858,243
	Interest payable and transferred to accounts payable		(4,465	)		-
	Closing balance	$	6,226,045		$	5,554,122
	The difference between the amount recorded to the convertible debentures on initial recognition and the value at maturity will be accreted using the effective interest rate method. During the period ended November 30, 2014, $552,372 (year ended February 28, 2014 - $4,049,613) was expensed as a non-cash interest charge.
	Subscriptions Received
	The Company holds subscriptions of $112,250 (2014 - $95,000) towards convertible debenture offerings.

LOANS

LOANS	9 Months Ended
	Nov. 30, 2014
LOANS [Text Block]	NOTE 5 – LOANS
	Loans comprise certain advances from third parties and related parties (Note 6). As at November 30, 2014, the loans have no fixed repayment terms, are unsecured and do not bear interest.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2014
RELATED PARTY TRANSACTIONS [Text Block]	NOTE 6 – RELATED PARTY TRANSACTIONS
	Related party balances
	The following amounts due to related parties are included in trade payables and accrued liabilities:
			November
			30,		February 28,
			2014		2014
	Directors, officers and companies controlled by directors and officers of the Company	$	1,306,776	$	434,838
	The following amounts due to related parties are included in loans:
					November 30,		February 28,
			Note		2014		2014
	Director		5	$	215,000	$	200,000
	Companies controlled by directors and officers of the Company		5		43,292		46,264
				$	258,292	$	246,264
	The following convertible debentures are outstanding to:
					November 30,		February 28,
			Note		2014		2014
	Companies controlled by directors and officers of the Company		4	$	230,000	$	200,000
	Significant investor of the Company		4	$	4,410,000	$	-
				$	4,640,000	$	200,000
	Related party transactions
	The Company incurred the following transactions with directors, officers, significant investors and companies that are controlled by directors and officers of the Company.
			Nine month period ended
			November 30,		November 30,
			2014		2013
	Administration	$	-	$	54,266
	Consulting fees		112,500		388,811
	Management fees		360,000		575,238
	Mineral exploration costs		333,000		660,034
	Convertible Debenture V issued		500,000		-
		$	1,305,500	$	1,678,349

COMMON_STOCK

COMMON STOCK	9 Months Ended
	Nov. 30, 2014
COMMON STOCK [Text Block]	NOTE 7 – COMMON STOCK
	Share Issuances:
	During the period ended November 30, 2014, the Company issued 3,839,562 shares pursuant to $460,748 of convertible debentures being converted to shares at a price of $0.12 per share.
	Stock options :
	The Board of Directors has adopted a new fixed share option plan (the “2014 Plan”) that provides the maximum aggregate number of common shares that may be reserved for issuance under the 2014 Plan at any point in time is 9,180,969, which represents 10% of the Company’s issued and outstanding common shares as at the date of the Company’s last annual shareholders meeting on September 12, 2013. All stock options outstanding under the previous 2011 rolling stock option plan were rolled into the 2014 Plan. The 2014 Plan is subject to TSX Venture Exchange approval, however, shareholder approval is not required as the 2014 Plan will not result at any time in the number of shares reserved for issuance under stock options exceeding 10% of the Company’s issued shares.
	At November 30, 2014 and February 28, 2014 the following stock options were outstanding:
	Number of	Exercise price
	Options	CDN$	Expiry date
	72,812	0.2	16-Nov-15
	725,000	0.64	10-Jan-16
	2,513,500	0.4	11-Feb-16
	460,750	0.4	3-Mar-16
	750,500	1.18	21-Jun-16
	745,250	0.84	12-Sep-16
	1,900,000	0.76	20-Jan-17
	234,000	0.42	19-Feb-18
	500,000	0.1	19-Feb-18
	1,265,000	0.36	2-Jul-18
	9,166,812
	All options outstanding are exercisable. The weighted average remaining contractual life of the outstanding stock options is 0.96 years and the weighted average exercise price is CDN$0.57.
	Share purchase warrants
	At November 30, 2014 and February 28, 2014 the following share purchase warrants were outstanding:
	Number of		Exercise price		Expiry date
	Warrants		CDN$	USD$
	561,013		0.5		19-Feb-18
	14,476,350			0.12	19-Aug-16
	15,037,363 *
	* There is a potential for additional 4,166,667 Warrants to be issued exercisable at $0.12 until May 29, 2018 upon the exercise of the convertible debenture described under convertible debenture V option (a) – Note 4.

DERIVATIVE_LIABILITY

DERIVATIVE LIABILITY	9 Months Ended
	Nov. 30, 2014
DERIVATIVE LIABILITY [Text Block]	NOTE 8 – DERIVATIVE LIABILITY
			Nine months			Year ended
			ended
			November 30,			February 28,
			2014			2014
	Balance, beginning	$	42,007		$	1,619,786
	Fair value of warrants exercised		-			(2,813	)
	Fair value change of warrants		(40,001	)		(1,574,966	)
	Balance, ending	$	2,006		$	42,007
	The derivative liability consists of the fair value of share purchase warrants that were issued in unit private placements that have an exercise price in a currency (Canadian dollars) other than the functional currency of the Company. The derivative liability is a non-cash liability and the Company is not required to expend any cash to settle this liability.
	Details of these warrants and their fair values are as follows:
						30-Nov-14				28-Feb-14
			Exercise
			Price			Number				Number
	Issued		($CDN)			Outstanding			Fair Value	Outstanding		Fair Value
	19-Feb-13		$0.50			556,249		$	2,006	556,250	$	42,007
	The fair value of the share purchase warrants was calculated using the Black-Scholes Option Pricing Model using the following assumptions: Expected dividend yield – 0% (2014: 0%); Expected stock price volatility – 118% (2014: 119%) Risk-free interest rate – 1.25% (2014: 1.52%); Expected life of share purchase warrants – 3.22 years (2014: 0.87 - 3.97 years).

NON_CASH_TRANSACTIONS

NON CASH TRANSACTIONS	9 Months Ended
	Nov. 30, 2014
NON CASH TRANSACTIONS [Text Block]	NOTE 9 – NON CASH TRANSACTIONS
	The Company incurred the following non-cash transactions that are not reflected in the statements of cash flows:
			Year ended
			November 30,		February 28,
			2014		2014
	Fair value of shares issued for debt	$	-	$	1,367,499
	Shares issued for convertible debentures exercised		460,748		5,000
		$	460,748	$	1,372,499

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2014
SUBSEQUENT EVENTS [Text Block]	NOTE 10 – SUBSEQUENT EVENTS
	The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The Management of the Company determined that there were no reportable subsequent events.

EQUIPMENT_Tables

EQUIPMENT (Tables)	9 Months Ended
	Nov. 30, 2014
Schedule of Property, Plant and Equipment [Table Text Block]			Equipment
	Cost:
	At November 30, 2014 and February 28, 2014	$	34,527
	Depreciation:
	At February 28, 2014	$	33,867
	Charge for the period		99
	At November 30, 2014	$	33,966
	Net book value:
	At February 28, 2014	$	660
	At November 30, 2014	$	561

UNPROVEN_MINERAL_PROPERTIES_Ta

UNPROVEN MINERAL PROPERTIES (Tables)	9 Months Ended
	Nov. 30, 2014
Schedule of Unproven Mineral Properties [Table Text Block]			November					February 28,					February 28,
			30, 2014			Additions		2014			Additions		2013
	Property acquisition costs
										$
	Cash paid for property	$	1,600,000		$	-	$	1,600,000			-	$	1,600,000
	Option payments and exploration costs
	Assay	$	309,680		$	-	$	309,680		$	26,603	$	283,077
	Drilling and related costs		8,992,677			12,843		8,979,834			456,640		8,523,194
	Geological consulting		3,410,707			162,000		3,248,707			757,676		2,491,031
	License and filing		700,208			55,558		644,650			200,974		443,676
	Option payments		6,362,855			-		6,362,855			-		6,362,855
	Project administration		3,380,604			219,783		3,160,821			482,375		2,678,446
	Recovery		(112,668	)		-		(112,668	)		-		(112,668	)
		$	23,044,063		$	450,184	$	22,593,879		$	1,924,268	$	20,669,611

CONVERTIBLE_DEBENTURES_Tables

CONVERTIBLE DEBENTURES (Tables)	9 Months Ended
	Nov. 30, 2014
Schedule of Debt [Table Text Block]			November 30,			February 28,
	Convertible Debentures – Tranche I to III & Tranche V		2014			2014
	Opening balance	$	5,554,122		$	1,624,128
	Subscriptions received		500,000			485,000
	Detachable share purchase warrants – amended		(75,953	)		(974,504	)
	Intrinsic beneficial conversion feature - amended		(75,953	)		(483,358	)
	Exercised – transfer to share capital		(536,855	)		(5,000	)
	Accretion		312,777			4,049,613
	Interest		552,372			858,243
	Interest payable and transferred to accounts payable		(4,465	)		-
	Closing balance	$	6,226,045		$	5,554,122

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Nov. 30, 2014
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]			November
			30,		February 28,
			2014		2014
	Directors, officers and companies controlled by directors and officers of the Company	$	1,306,776	$	434,838
Schedule of Amounts Due to Related Parties Included in Loans [Table Text Block]					November 30,		February 28,
			Note		2014		2014
	Director		5	$	215,000	$	200,000
	Companies controlled by directors and officers of the Company		5		43,292		46,264
				$	258,292	$	246,264
Schedule of Receivables and Prepaid Expenses [Table Text Block]					November 30,		February 28,
			Note		2014		2014
	Companies controlled by directors and officers of the Company		4	$	230,000	$	200,000
	Significant investor of the Company		4	$	4,410,000	$	-
				$	4,640,000	$	200,000
Schedule of Related Party Transactions [Table Text Block]			Nine month period ended
			November 30,		November 30,
			2014		2013
	Administration	$	-	$	54,266
	Consulting fees		112,500		388,811
	Management fees		360,000		575,238
	Mineral exploration costs		333,000		660,034
	Convertible Debenture V issued		500,000		-
		$	1,305,500	$	1,678,349

COMMON_STOCK_Tables

COMMON STOCK (Tables)	9 Months Ended
	Nov. 30, 2014
Disclosure of Share Based Compensation Arrangements by Share Based Payment Award and Warrants Or Rights [Table Text Block]	Number of	Exercise price
	Options	CDN$	Expiry date
	72,812	0.2	16-Nov-15
	725,000	0.64	10-Jan-16
	2,513,500	0.4	11-Feb-16
	460,750	0.4	3-Mar-16
	750,500	1.18	21-Jun-16
	745,250	0.84	12-Sep-16
	1,900,000	0.76	20-Jan-17
	234,000	0.42	19-Feb-18
	500,000	0.1	19-Feb-18
	1,265,000	0.36	2-Jul-18
	9,166,812
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of		Exercise price		Expiry date
	Warrants		CDN$	USD$
	561,013		0.5		19-Feb-18
	14,476,350			0.12	19-Aug-16
	15,037,363 *

DERIVATIVE_LIABILITY_Tables

DERIVATIVE LIABILITY (Tables)	9 Months Ended
	Nov. 30, 2014
Schedule of Derivative Liabilities at Fair Value [Table Text Block]			Nine months			Year ended
			ended
			November 30,			February 28,
			2014			2014
	Balance, beginning	$	42,007		$	1,619,786
	Fair value of warrants exercised		-			(2,813	)
	Fair value change of warrants		(40,001	)		(1,574,966	)
	Balance, ending	$	2,006		$	42,007
Schedule of Fair Value of Warrants [Table Text Block]						30-Nov-14				28-Feb-14
			Exercise
			Price			Number				Number
	Issued		($CDN)			Outstanding			Fair Value	Outstanding		Fair Value
	19-Feb-13		$0.50			556,249		$	2,006	556,250	$	42,007

NON_CASH_TRANSACTIONS_Tables

NON CASH TRANSACTIONS (Tables)	9 Months Ended
	Nov. 30, 2014
Details of Nonmonetary Transactions [Table Text Block]			Year ended
			November 30,		February 28,
			2014		2014
	Fair value of shares issued for debt	$	-	$	1,367,499
	Shares issued for convertible debentures exercised		460,748		5,000
		$	460,748	$	1,372,499

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Organization And Basis Of Presentation 1	$59,684,608
Organization And Basis Of Presentation 2	2,344
Organization And Basis Of Presentation 3	$2,430,366

UNPROVEN_MINERAL_PROPERTIES_Na

UNPROVEN MINERAL PROPERTIES (Narrative) (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
	D
	Y
Unproven Mineral Properties 1	100.00%
Unproven Mineral Properties 2	$575,000
Unproven Mineral Properties 3	1,000,000
Unproven Mineral Properties 4	61,152
Unproven Mineral Properties 5	8,181,000
Unproven Mineral Properties 6	551,921
Unproven Mineral Properties 7	200,000
Unproven Mineral Properties 8	1.00%
Unproven Mineral Properties 9	1,000,000
Unproven Mineral Properties 10	100.00%
Unproven Mineral Properties 11	15,000
Unproven Mineral Properties 12	15,000
Unproven Mineral Properties 13	100.00%
Unproven Mineral Properties 14	1,250,000
Unproven Mineral Properties 15	20,000,000
Unproven Mineral Properties 16	50,000
Unproven Mineral Properties 17	10,000
Unproven Mineral Properties 18	25,000
Unproven Mineral Properties 19	75,000
Unproven Mineral Properties 20	150,000
Unproven Mineral Properties 21	200,000
Unproven Mineral Properties 22	250,000
Unproven Mineral Properties 23	5,000,000
Unproven Mineral Properties 24	250,000
Unproven Mineral Properties 25	250,000
Unproven Mineral Properties 26	250,000
Unproven Mineral Properties 27	30
Unproven Mineral Properties 28	100.00%
Unproven Mineral Properties 29	90,000
Unproven Mineral Properties 30	500,000
Unproven Mineral Properties 31	130,444
Unproven Mineral Properties 32	2.00%
Unproven Mineral Properties 33	300,000
Unproven Mineral Properties 34	100.00%
Unproven Mineral Properties 35	100.00%
Unproven Mineral Properties 36	20,000
Unproven Mineral Properties 37	500,000
Unproven Mineral Properties 38	40,625
Unproven Mineral Properties 39	119,518
Unproven Mineral Properties 40	2.00%
Unproven Mineral Properties 41	300,000
Unproven Mineral Properties 42	100.00%
Unproven Mineral Properties 43	90.00%
Unproven Mineral Properties 44	50,000
Unproven Mineral Properties 45	250,000
Unproven Mineral Properties 46	1,000,000
Unproven Mineral Properties 47	669,384
Unproven Mineral Properties 48	1
Unproven Mineral Properties 49	500,000
Unproven Mineral Properties 50	350,000
Unproven Mineral Properties 51	1,400,000
Unproven Mineral Properties 52	750,000
Unproven Mineral Properties 53	350,000
Unproven Mineral Properties 54	1,600,000
Unproven Mineral Properties 55	1
Unproven Mineral Properties 56	1,000,000
Unproven Mineral Properties 57	90.00%
Unproven Mineral Properties 58	10.00%
Unproven Mineral Properties 59	5,000,000
Unproven Mineral Properties 60	25,825
Unproven Mineral Properties 61	350,000
Unproven Mineral Properties 62	1,400,000
Unproven Mineral Properties 63	20,716
Unproven Mineral Properties 64	644,000
Unproven Mineral Properties 65	350,000
Unproven Mineral Properties 66	1,400,000
Unproven Mineral Properties 67	1,400,000
Unproven Mineral Properties 68	271,936
Unproven Mineral Properties 69	350,000
Unproven Mineral Properties 70	100.00%
Unproven Mineral Properties 71	3,850,000
Unproven Mineral Properties 72	150,000
Unproven Mineral Properties 73	2,450,000
Unproven Mineral Properties 74	1,250,000
Unproven Mineral Properties 75	750,000
Unproven Mineral Properties 76	168,291
Unproven Mineral Properties 77	2,450,000
Unproven Mineral Properties 78	750,000
Unproven Mineral Properties 79	168,291
Unproven Mineral Properties 80	30,000,000
Unproven Mineral Properties 81	30,000,000
Unproven Mineral Properties 82	40,000,000
Unproven Mineral Properties 83	20.00%
Unproven Mineral Properties 84	30,000,000
Unproven Mineral Properties 85	40,000,000
Unproven Mineral Properties 86	50,000,000
Unproven Mineral Properties 87	2,000,000
Unproven Mineral Properties 88	10.00%
Unproven Mineral Properties 89	40,000,000
Unproven Mineral Properties 90	1,000,000
Unproven Mineral Properties 91	50,000,000
Unproven Mineral Properties 92	3,000,000
Unproven Mineral Properties 93	20.00%
Unproven Mineral Properties 94	50,000,000
Unproven Mineral Properties 95	100.00%
Unproven Mineral Properties 96	2,450,000
Unproven Mineral Properties 97	30
Unproven Mineral Properties 98	100,000
Unproven Mineral Properties 99	2,450,000
Unproven Mineral Properties 100	100,000
Unproven Mineral Properties 101	2,350,000
Unproven Mineral Properties 102	28
Unproven Mineral Properties 103	50.00%
Unproven Mineral Properties 104	50.00%
Unproven Mineral Properties 105	112,668
Unproven Mineral Properties 106	50.00%
Unproven Mineral Properties 107	17,000,000
Unproven Mineral Properties 108	500,000
Unproven Mineral Properties 109	25,000
Unproven Mineral Properties 110	500,000
Unproven Mineral Properties 111	500,000
Unproven Mineral Properties 112	30
Unproven Mineral Properties 113	500,000
Unproven Mineral Properties 114	1,000,000
Unproven Mineral Properties 115	14,000,000
Unproven Mineral Properties 116	500,000
Unproven Mineral Properties 117	1,000,000
Unproven Mineral Properties 118	$975,000

CONVERTIBLE_DEBENTURES_Narrati

CONVERTIBLE DEBENTURES (Narrative) (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
	Y
	M
Convertible Debentures 1	$5,305,540
Convertible Debentures 2	4,140,000
Convertible Debentures 3	15.00%
Convertible Debentures 4	$0.38
Convertible Debentures 5	2.5
Convertible Debentures 6	1
Convertible Debentures 7	$0.38
Convertible Debentures 8	13,263,850
Convertible Debentures 9	2,049,578
Convertible Debentures 10	76.00%
Convertible Debentures 11	1.07%
Convertible Debentures 12	1
Convertible Debentures 13	3,827,098
Convertible Debentures 14	1,478,442
Convertible Debentures 15	2,316,159
Convertible Debentures 16	73,958
Convertible Debentures 17	101,882
Convertible Debentures 18	$0.19
Convertible Debentures 19	5,770
Convertible Debentures 20	51,528
Convertible Debentures 21	37,380
Convertible Debentures 22	93,876
Convertible Debentures 23	285,000
Convertible Debentures 24	15.00%
Convertible Debentures 25	$0.38
Convertible Debentures 26	2.5
Convertible Debentures 27	1
Convertible Debentures 28	$0.38
Convertible Debentures 29	712,500
Convertible Debentures 30	130,826
Convertible Debentures 31	75.00%
Convertible Debentures 32	0.97%
Convertible Debentures 33	1
Convertible Debentures 34	195,334
Convertible Debentures 35	89,666
Convertible Debentures 36	164,666
Convertible Debentures 37	1,425
Convertible Debentures 38	353
Convertible Debentures 39	1,272
Convertible Debentures 40	200,000
Convertible Debentures 41	15.00%
Convertible Debentures 42	$0.38
Convertible Debentures 43	2.5
Convertible Debentures 44	1
Convertible Debentures 45	$0.38
Convertible Debentures 46	500,000
Convertible Debentures 47	62,896
Convertible Debentures 48	75.00%
Convertible Debentures 49	0.97%
Convertible Debentures 50	1
Convertible Debentures 51	152,151
Convertible Debentures 52	47,849
Convertible Debentures 53	58,375
Convertible Debentures 54	1,070
Convertible Debentures 55	502
Convertible Debentures 56	568
Convertible Debentures 57	$0.12
Convertible Debentures 58	42
Convertible Debentures 59	$0.12
Convertible Debentures 60	6,095,894
Convertible Debentures 61	866,295
Convertible Debentures 62	93.00%
Convertible Debentures 63	1.16%
Convertible Debentures 64	2.5
Convertible Debentures 65	5,258,905
Convertible Debentures 66	836,989
Convertible Debentures 67	260,317
Convertible Debentures 68	4,379
Convertible Debentures 69	3,591
Convertible Debentures 70	788
Convertible Debentures 71	327,750
Convertible Debentures 72	46,523
Convertible Debentures 73	94.00%
Convertible Debentures 74	1.09%
Convertible Debentures 75	2.44
Convertible Debentures 76	282,892
Convertible Debentures 77	44,858
Convertible Debentures 78	44,858
Convertible Debentures 79	230,000
Convertible Debentures 80	32,261
Convertible Debentures 81	94.00%
Convertible Debentures 82	1.07%
Convertible Debentures 83	2.38
Convertible Debentures 84	198,905
Convertible Debentures 85	31,095
Convertible Debentures 86	31,095
Convertible Debentures 87	500,000
Convertible Debentures 88	9.50%
Convertible Debentures 89	50.00%
Convertible Debentures 90	50.00%
Convertible Debentures 91	$0.12
Convertible Debentures 92	$0.12
Convertible Debentures 93	10.00%
Convertible Debentures 94	4,166,667
Convertible Debentures 95	4,166,667
Convertible Debentures 96	3,323
Convertible Debentures 97	552,372
Convertible Debentures 98	4,049,613
Convertible Debentures 99	112,250
Convertible Debentures 100	$95,000

COMMON_STOCK_Narrative_Details

COMMON STOCK (Narrative) (Details)	9 Months Ended
	Nov. 30, 2014	Nov. 30, 2014
	USD ($)	CAD
	Y
Common Stock 1	3,839,562	3,839,562
Common Stock 2	$460,748
Common Stock 3	$0.12
Common Stock 4	9,180,969	9,180,969
Common Stock 5	10.00%	10.00%
Common Stock 6	10.00%	10.00%
Common Stock 7	0.96	0.96
Common Stock 8		0.57
Common Stock 9	4,166,667	4,166,667
Common Stock 10	$0.12

DERIVATIVE_LIABILITY_Narrative

DERIVATIVE LIABILITY (Narrative) (Details)	9 Months Ended
	Nov. 30, 2014
	Y
Derivative Liability 1	0.00%
Derivative Liability 2	0.00%
Derivative Liability 3	118.00%
Derivative Liability 4	119.00%
Derivative Liability 5	1.25%
Derivative Liability 6	1.52%
Derivative Liability 7	3.22
Derivative Liability 8	0.87
Derivative Liability 9	3.97

Schedule_of_Property_Plant_and

Schedule of Property, Plant and Equipment (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Equipment Schedule Of Property, Plant And Equipment 1	$34,527
Equipment Schedule Of Property, Plant And Equipment 2	33,867
Equipment Schedule Of Property, Plant And Equipment 3	99
Equipment Schedule Of Property, Plant And Equipment 4	33,966
Equipment Schedule Of Property, Plant And Equipment 5	660
Equipment Schedule Of Property, Plant And Equipment 6	$561

Schedule_of_Unproven_Mineral_P

Schedule of Unproven Mineral Properties (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 1	$1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 2	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 3	1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 4	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 5	1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 6	309,680
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 7	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 8	309,680
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 9	26,603
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 10	283,077
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 11	8,992,677
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 12	12,843
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 13	8,979,834
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 14	456,640
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 15	8,523,194
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 16	3,410,707
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 17	162,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 18	3,248,707
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 19	757,676
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 20	2,491,031
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 21	700,208
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 22	55,558
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 23	644,650
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 24	200,974
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 25	443,676
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 26	6,362,855
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 27	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 28	6,362,855
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 29	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 30	6,362,855
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 31	3,380,604
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 32	219,783
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 33	3,160,821
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 34	482,375
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 35	2,678,446
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 36	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 37	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 38	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 39	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 40	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 41	23,044,063
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 42	450,184
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 43	22,593,879
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 44	1,924,268
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 45	$20,669,611

Schedule_of_Debt_Details

Schedule of Debt (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Convertible Debentures Schedule Of Debt 1	$5,554,122
Convertible Debentures Schedule Of Debt 2	1,624,128
Convertible Debentures Schedule Of Debt 3	500,000
Convertible Debentures Schedule Of Debt 4	485,000
Convertible Debentures Schedule Of Debt 5	-75,953
Convertible Debentures Schedule Of Debt 6	-974,504
Convertible Debentures Schedule Of Debt 7	-75,953
Convertible Debentures Schedule Of Debt 8	-483,358
Convertible Debentures Schedule Of Debt 9	-536,855
Convertible Debentures Schedule Of Debt 10	-5,000
Convertible Debentures Schedule Of Debt 11	312,777
Convertible Debentures Schedule Of Debt 12	4,049,613
Convertible Debentures Schedule Of Debt 13	552,372
Convertible Debentures Schedule Of Debt 14	858,243
Convertible Debentures Schedule Of Debt 15	-4,465
Convertible Debentures Schedule Of Debt 16	0
Convertible Debentures Schedule Of Debt 17	6,226,045
Convertible Debentures Schedule Of Debt 18	$5,554,122

Schedule_of_Accounts_Payable_a

Schedule of Accounts Payable and Accrued Liabilities (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 1	$1,306,776
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 2	$434,838

Schedule_of_Amounts_Due_to_Rel

Schedule of Amounts Due to Related Parties Included in Loans (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 1	$215,000
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 2	200,000
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 3	43,292
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 4	46,264
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 5	258,292
Related Party Transactions Schedule Of Amounts Due To Related Parties Included In Loans 6	$246,264

Schedule_of_Receivables_and_Pr

Schedule of Receivables and Prepaid Expenses (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 1	$230,000
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 2	200,000
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 3	4,410,000
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 4	0
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 5	4,640,000
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 6	$200,000

Schedule_of_Related_Party_Tran

Schedule of Related Party Transactions (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Related Party Transactions Schedule Of Related Party Transactions 1	$0
Related Party Transactions Schedule Of Related Party Transactions 2	54,266
Related Party Transactions Schedule Of Related Party Transactions 3	112,500
Related Party Transactions Schedule Of Related Party Transactions 4	388,811
Related Party Transactions Schedule Of Related Party Transactions 5	360,000
Related Party Transactions Schedule Of Related Party Transactions 6	575,238
Related Party Transactions Schedule Of Related Party Transactions 7	333,000
Related Party Transactions Schedule Of Related Party Transactions 8	660,034
Related Party Transactions Schedule Of Related Party Transactions 9	500,000
Related Party Transactions Schedule Of Related Party Transactions 10	0
Related Party Transactions Schedule Of Related Party Transactions 11	1,305,500
Related Party Transactions Schedule Of Related Party Transactions 12	$1,678,349

Disclosure_of_Share_Based_Comp

Disclosure of Share Based Compensation Arrangements by Share Based Payment Award and Warrants Or Rights (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 1	$72,812
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 2	0.2
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 3	725,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 4	0.64
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 5	2,513,500
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 6	0.4
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 7	460,750
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 8	0.4
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 9	750,500
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 10	1.18
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 11	745,250
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 12	0.84
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 13	1,900,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 14	0.76
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 15	234,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 16	0.42
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 17	500,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 18	0.1
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 19	1,265,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 20	0.36
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 21	$9,166,812

Schedule_of_Stockholders_Equit

Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 1	$561,013
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 2	0.5
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 3	14,476,350
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 4	0.12
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 5	$15,037,363

Schedule_of_Derivative_Liabili

Schedule of Derivative Liabilities at Fair Value (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 1	$42,007
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 2	1,619,786
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 3	0
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 4	-2,813
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 5	-40,001
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 6	-1,574,966
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 7	2,006
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 8	$42,007

Schedule_of_Fair_Value_of_Warr

Schedule of Fair Value of Warrants (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Derivative Liability Schedule Of Fair Value Of Warrants 1	$0.50
Derivative Liability Schedule Of Fair Value Of Warrants 2	556,249
Derivative Liability Schedule Of Fair Value Of Warrants 3	2,006
Derivative Liability Schedule Of Fair Value Of Warrants 4	556,250
Derivative Liability Schedule Of Fair Value Of Warrants 5	$42,007

Details_of_Nonmonetary_Transac

Details of Nonmonetary Transactions (Details) (USD $)	9 Months Ended
	Nov. 30, 2014
Non Cash Transactions Details Of Nonmonetary Transactions 1	$0
Non Cash Transactions Details Of Nonmonetary Transactions 2	1,367,499
Non Cash Transactions Details Of Nonmonetary Transactions 3	460,748
Non Cash Transactions Details Of Nonmonetary Transactions 4	5,000
Non Cash Transactions Details Of Nonmonetary Transactions 5	460,748
Non Cash Transactions Details Of Nonmonetary Transactions 6	$1,372,499