Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Mar. 31, 2015 | 11-May-15 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Idaho North Resources Corp. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -24 | |
Entity Common Stock, Shares Outstanding | 13,440,683 | |
Amendment Flag | FALSE | |
Entity Central Index Key | 1543395 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
Current Assets | ||
Cash | $60,122 | $310,749 |
Accounts receivable | 17,303 | 49,815 |
Current portion of reclamation bond | 14,232 | |
Prepaid expenses | 10,618 | 43,006 |
Total Current Assets | 102,275 | 403,570 |
Reclamation bond | 9,489 | |
Mineral interests | 159,500 | 123,000 |
TOTAL ASSETS | 271,264 | 526,570 |
Current Liabilities | ||
Accounts payable | 19,376 | 1,875 |
Deposits | 43,560 | |
Total Current Liabilities | 19,376 | 45,435 |
Common stock payable (note 6) | 8,990 | |
Total Liabilities | 28,366 | 45,435 |
Stockholders' Equity | ||
Preferred stock, $0.05 par value, 10,000,000 shares authorized, none outstanding as of March 31, 2015 and June 30, 2014, respectively | 0 | 0 |
Common stock, $0.01 par value, 100,000,000 common shares authorized, 13,440,683 and 12,944,333 shares outstanding as of March 31, 2015 and June 30, 2014, respectively | 134,406 | 129,443 |
Additional paid-in capital | 874,579 | 813,592 |
Accumulated deficit | -766,087 | -461,900 |
Total Stockholders' Equity | 242,898 | 481,135 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $271,264 | $526,570 |
Balance_Sheets_Parentheticals
Balance Sheets (Parentheticals) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
Preferred stock, par value (in Dollars per share) | $0.05 | $0.05 |
Preferred stock, authorized | 10,000,000 | 10,000,000 |
Preferred stock, outstanding | 0 | 0 |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, outstanding | 13,440,683 | 12,944,333 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
REVENUE: | ||||
Exploration services income | $32,061 | $7,841 | $159,173 | $7,841 |
Operating Expenses | ||||
Exploration services expense | 27,947 | 7,129 | 113,502 | 7,129 |
Other exploration expenditures | 7,745 | 11,541 | 182,487 | 36,004 |
Impairment of mineral interest | 32,000 | 32,000 | ||
General and administrative expenses | 33,063 | 45,739 | 135,371 | 126,353 |
Total Operating Expenses | 100,755 | 64,409 | 463,360 | 169,486 |
Loss from Operations | -68,694 | -56,568 | -304,187 | -161,645 |
Net Loss | ($68,694) | ($56,568) | ($304,187) | ($161,645) |
Net Loss per Common Share | ||||
Basic and diluted (in Dollars per share) | ($0.01) | ($0.01) | ($0.02) | ($0.02) |
Weighted average number of common shares outstanding | ||||
Basic and diluted (in Shares) | 13,428,350 | 8,676,091 | 13,277,617 | 8,161,630 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | 11 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net loss for the period | ($304,187) | ($161,645) | |
Common shares issued as compensation | 38,940 | 50,000 | |
Impairment of mineral interests | 32,000 | ||
Accounts receivable | 32,512 | -20,000 | |
Prepaid expenses | 32,388 | -1,297 | |
Accounts payable and other current liabilities | -26,059 | 27,310 | |
Cash used in operating activities | -194,406 | -105,632 | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Reclamation bond | -23,721 | ||
Acquisition of mineral interests | -32,500 | -25,000 | |
Cash used in investing activities | -56,221 | -25,000 | |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Cash received on issuance of common stock | 404,000 | ||
Common stock issuance cost | -31,677 | ||
Cash provided by financing activities | 372,323 | ||
Increase (decrease) in cash | -250,627 | 241,691 | |
Cash, beginning of period | 310,749 | 83,229 | |
Cash, end of period | 60,122 | 324,920 | 83,229 |
Compensation paid with common stock payable | 8,990 | ||
Common stock issued for mineral interests | $36,000 | $30,000 | $30,000 |
1_NATURE_AND_CONTINUANCE_OF_OP
1. NATURE AND CONTINUANCE OF OPERATIONS | 9 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | 1. NATURE AND CONTINUANCE OF OPERATIONS |
Idaho North Resources Corporation ("the Company") was incorporated under the laws of Idaho in 2007. The Company is engaged primarily in acquiring and exploring prospective precious metals mining properties in the western United States. | |
2_BASIS_OF_PRESENTATION
2. BASIS OF PRESENTATION | 9 Months Ended |
Mar. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 2. BASIS OF PRESENTATION |
These interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("US GAAP") and should be read in conjunction with the annual financial statements for the fiscal year ended June 30, 2014. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations. | |
Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2014 as reported in Form 10-K, have been omitted. Results of operations for the nine months ended March 31, 2015 are not necessarily indicative of the results expected for the fiscal year ending June 30, 2015. | |
Revenue Recognition - Revenue received from exploration contracts is recognized when the contract has been established, the services are rendered and collection of payment is deemed probable. | |
3_GOING_CONCERN
3. GOING CONCERN | 9 Months Ended |
Mar. 31, 2015 | |
Going Concern Note [Abstract] | |
Going Concern Note | 3. GOING CONCERN |
As shown in the accompanying interim financial statements, the Company had a net loss of $68,694 and $304,187 for the three and nine months ended March 31, 2015, respectively. There is substantial doubt about the Company's ability to continue as a going concern. | |
The Company intends to raise additional capital either through debt or equity financing. The interim financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. | |
4_EARNINGS_PER_SHARE
4. EARNINGS PER SHARE | 9 Months Ended |
Mar. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 4. EARNINGS PER SHARE |
For the three and nine month periods ended March 31, 2015 and 2014, the effect of the Company's potential issue of 3,756,667 and 2,129,167 shares, respectively, from the exercise of outstanding warrants would have been anti-dilutive (see note 6). Accordingly, basic net loss per share is the same as diluted for the periods ended March 31, 2015 and 2014. | |
5_CENTRAL_NEVADA_EXPLORATION_P
5. CENTRAL NEVADA EXPLORATION PROGRAM and EARN-IN AGREEMENT | 9 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Collaborative Arrangement Disclosure [Text Block] | 5. CENTRAL NEVADA EXPLORATION PROGRAM and EARN-IN AGREEMENT |
In the first calendar quarter of 2014, the Company completed a private placement and signed a letter of intent to enter into an exploration program agreement with Coeur Mining Inc. ("Coeur"). Coeur purchased 1,333,333 units at $0.15 per unit, for a total of $200,000. Each unit consists of one common share and one warrant. Two warrants plus $0.30 allow Coeur to purchase one common share. The warrants expire in March 2017. At March 31, 2015, Coeur owned 9.92% of the Company's shares. | |
On October 2, 2014, the Company signed the definitive Exploration Program Agreement (the "Agreement") with Coeur. The Agreement calls for Coeur to fund a Central Nevada Exploration Program within a specified Area of Interest for a three-year period. During the Agreement period, Coeur will have the right to select target properties identified and acquired or appropriated by the Company, and earn up to 80% interest in the target properties by meeting certain minimum investment and other requirements. Prior to selection of any target properties, Coeur will pay certain consulting and field-related costs associated with the Program, along with a 10% administrative fee to the Company. For the nine months ended March 31, 2015, the Company recognized exploration service income of $159,173 for exploration costs and administrative fees. | |
On October 21, 2014, the Company signed an Earn-In Option Agreement (the "Earn-In") with Coeur for the Klondyke area, Nevada. Pursuant to the terms of the Earn-In, Coeur may exercise its option to acquire an initial 60% interest in the target properties by spending a minimum of $2 million in exploration and development expenses on the target properties over a 3-year period and completing a NI 43-101 compliant Technical Report. Upon completion of the earn-in requirements, the parties will form a limited liability company for purposes of further exploration, development, and mining of the target properties, with Coeur having a 60% membership interest and the Company having a 40% membership interest. During the Earn-In period, Coeur has the option to acquire the Company's entire interest in the target properties, subject to terms of the Earn-In. As operator, the Company will conduct the exploration, development, and related work at the target properties under budgets approved by Coeur. | |
6_COMMON_STOCK_AND_WARRANTS
6. COMMON STOCK AND WARRANTS | 9 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Stockholders' Equity Note [Abstract] | |||||||||
Stockholders' Equity Note Disclosure [Text Block] | 6. COMMON STOCK AND WARRANTS | ||||||||
a) | Common Stock: | ||||||||
FY 2014 Activity | |||||||||
In July 2013, the Company issued 100,000 common shares pursuant to a mining lease agreement at a fair value, based on the most recent sale of common shares, of $0.10 per share. The Company accounted for $10,000 as mineral interests. | |||||||||
In October 2013, the Company issued 200,000 common shares for compensation at a fair value, based on the most recent sale of common shares, of $0.10 per share. | |||||||||
In October 2013, the Company issued 200,000 common shares pursuant to a mining lease agreement at a fair value, based on the most recent sale of common shares, of $0.10 per share. The Company accounted for $20,000 as mineral interests. | |||||||||
In March 2014, the Company issued 300,000 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.17 per share. | |||||||||
In March 2014, the Company sold 1,333,333 common shares and warrants at $0.15 per unit for proceeds of $200,000 (see note 5). | |||||||||
During the twelve months ended June 30, 2014, the Company sold 3,100,000 common shares and warrants at $0.10 per unit for gross proceeds of $310,000 ($261,060 net of $48,940 in offering costs). 155,000 broker's warrants were issued at the same terms as the private placement. | |||||||||
In June 2014, the Company issued 50,000 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.15 per share. | |||||||||
FY 2015 Activity | |||||||||
In July 2014, the Company issued 300,000 common shares pursuant to a mining lease agreement at a fair value, based on the quoted market price of common shares, of $0.12 per share. | |||||||||
In November 2014, the Company issued 11,350 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.15 per share. | |||||||||
In November 2014, the Company approved the award of 50,000 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.16 per share. | |||||||||
In December 2014, the Company approved the award of 135,000 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.15 per share. | |||||||||
In January 2015, the Company approved the award of 13,605 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.147 per share. The expense was recorded as common stock payable. | |||||||||
In March 2015, the Company approved the award of 44,445 and 9,000 common shares for compensation at a fair value, based on the quoted market price of common shares, of $0.135 and $0.11 per share, respectively. The expense was recorded as common stock payable. | |||||||||
b) Warrants | |||||||||
Warrants to | Weighted | ||||||||
Purchase | Average | ||||||||
Common Shares | Exercise Price | ||||||||
Outstanding at June 30, 2013 | 1,462,500 | $ | 0.25 | ||||||
Issued March 2014 | 666,667 | 0.3 | |||||||
Issued June 2014 | 1,627,500 | 0.25 | |||||||
Exercised | - | - | |||||||
Expired | - | - | |||||||
Outstanding at June 30, 2014 | 3,756,667 | $ | 0.26 | ||||||
through March 31, 2015 | |||||||||
The warrants that are issued and outstanding as at December 31, 2014 are as follows: | |||||||||
Warrants to | Exercise | Expiration Date | |||||||
Purchase | Price | ||||||||
Common Shares | |||||||||
1,462,500 | $ | 0.25 | September 1, 2016* | ||||||
666,667 | 0.3 | 4-Mar-17 | |||||||
1,627,500 | 0.25 | 1-Nov-16 | |||||||
*These warrants were set to expire on March 1, 2015. In January 2015, the Company extended the expiration date of these warrants an additional 18 months, to September 1, 2016. | |||||||||
7_MINERAL_PROPERTY_COMMITMENTS
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY | 9 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Mineral Industries Disclosures Related Pary [Abstract] | |||||||||
Mineral Industries Disclosures Related Pary | 7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY | ||||||||
For the following properties, the related party is a shareholder (not an officer or director) who exercises voting rights over 9.1% percent of the Company's common stock. He is also the Company's consulting geologist and a member of the Company's Technical Advisory Committee. The Eagleville Property has an additional related party who serves as the Company's CEO and Chairman of its Board of Directors and controls less than 1% of the Company's common stock. The Company has satisfied its work commitments on all properties to date. Work commitments include, but are not limited to, annual claim fees, exploration, mapping, sampling, drilling and administration costs. | |||||||||
Klondike North Property. On October 24, 2011, the Company entered into an Exploration and Mining Lease and Option to Purchase Agreement for the Klondike North Property, which consists of 38 unpatented lode-mining claims located on Bureauof Land Management lands in the Klondike Mining District, Esmerelda County, Nevada. The Company has the right to conduct all customary mineral exploration activities in return for the following commitments: | |||||||||
Advanced Royalty Payments | |||||||||
Date | Payment | Common | |||||||
Amount | Shares | ||||||||
Upon execution of Agreement – October 24, 2011 | $ | - | 500,000 | ||||||
First Anniversary of the Agreement | 10,000 | - | |||||||
Second Anniversary of the Agreement | 20,000 | * | - | ||||||
Third Anniversary of the Agreement | 30,000 | - | |||||||
Fourth Anniversary of the Agreement | 40,000 | - | |||||||
Fifth through the tenth Anniversary | 50,000 | - | |||||||
Eleventh Anniversary and thereafter | 100,000 | - | |||||||
The Company valued the 500,000 shares issued for the above acquisition of mineral rights at $0.02, based on the most recent sale of common shares, and recorded $10,000 as mineral property in the fiscal year ended June 30, 2012. | |||||||||
*The Company, with agreement from the sellers, satisfied its Second Anniversary obligation with 200,000 shares of common stock issued with a fair value of $0.10 per share in the fiscal year ended June 30, 2014. | |||||||||
Work Commitment | |||||||||
Lease Year | Amount | ||||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 25,000 | ||||||||
Third Lease Year | 50,000 | ||||||||
Fourth Lease Year | 75,000 | ||||||||
Fifth Lease Year and thereafter | 100,000 | ||||||||
Divide Property. In February 2015, the Company terminated its Exploration and Mining Lease and Option to Purchase Agreement for the Divide Property and returned the underlying claims to the lessor and recorded an impairment charge for the full capitalized cost of $32,000 for the mineral interests. The Company dropped the Divide Property in order to focus its resources on its remaining properties. | |||||||||
Eagleville Property. On July 27, 2012, the Company entered into an Exploration and Mining Lease and Option to Purchase Agreement for the Eagleville Property, which consists of 58 unpatented lode-mining claims located on Bureau of Land Management lands in the Eagleville Mining District, Mineral County, Nevada. The Company has the right to conduct all customary mineral exploration activities in return for the following commitments: | |||||||||
Date | Payment | Common | |||||||
Amount | Shares | ||||||||
Upon execution of Agreement – July 27, 2012 | $ | 6,000 | 300,000 | ||||||
On or prior to the 1st Anniversary of the Agreement | 15,000 | * | 150,000 | ||||||
On or prior to the 2nd Anniversary of the Agreement | 20,000 | ** | 150,000 | ||||||
On or prior to the 3rd Anniversary of the Agreement | 30,000 | - | |||||||
On or prior to the 4th Anniversary of the Agreement | 40,000 | - | |||||||
On or prior to the 5th through the 10th Anniversary | 50,000 | - | |||||||
On or prior to the 11th Anniversary and thereafter | 100,000 | - | |||||||
The Company valued the 300,000 shares issued for the above acquisition of mineral rights at $0.10, based on the most recent sale of common shares, and recorded $30,000 as mineral property in the fiscal year ended June 30, 2013. | |||||||||
*The Company, with agreement from the sellers, satisfied its First Anniversary obligation with a $5,000 payment in cash and 100,000 shares of common stock issued with a fair value of $0.10 per share in the fiscal year ended June 30, 2014. | |||||||||
**The Company, with agreement from the sellers, satisfied its Second Anniversary obligation with an additional 150,000 shares of common stock issued with a fair value of $0.12 per share in the fiscal year ended June 30, 2015 in lieu of the cash requirement. | |||||||||
Work Commitment | |||||||||
Lease Year | Amount | ||||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 10,000 | ||||||||
Third Lease Year | 25,000 | ||||||||
Fourth Lease Year | 50,000 | ||||||||
Fifth Lease Year and thereafter | 100,000 | ||||||||
Green Monster-Danville Property. On October 31, 2014, the Company entered into an Exploration and Mining Lease and Option to Purchase Agreement for the Green Monster-Danville Property, which consists of 91 unpatented lode-mining claims located on Bureau of Land Management lands in the Danville Mining District, Nye County, Nevada. The Company has the right to conduct all customary mineral exploration activities in return for the following commitments: | |||||||||
Advanced Royalty Payments | |||||||||
Date | Payment | Common | |||||||
Amount | Shares | ||||||||
Upon execution of Agreement – October 31, 2014 | $ | 2,500 | * | - | |||||
First Anniversary of the Agreement | 5,000 | - | |||||||
Second Anniversary of the Agreement | 10,000 | - | |||||||
Third Anniversary of the Agreement | 20,000 | - | |||||||
Fourth Anniversary of the Agreement | 30,000 | - | |||||||
Fifth Anniversary of the Agreement | 40,000 | - | |||||||
Sixth Anniversary through the tenth anniversary | 50,000 | - | |||||||
Eleventh Anniversary through the fifteenth | 75,000 | - | |||||||
Sixteenth Anniversary and thereafter | 100,000 | - | |||||||
*Plus reimbursement of the 2014 -15 BLM Annual Maintenance Fee of $12,245 and Nye County Notice to Intent to Hold Fee of $834, which has been paid. | |||||||||
Work Commitment | |||||||||
Lease Year | Amount | ||||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 10,000 | ||||||||
Third Lease Year and thereafter | 50,000 | ||||||||
6_COMMON_STOCK_AND_WARRANTS_Ta
6. COMMON STOCK AND WARRANTS (Tables) | 9 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Stockholders' Equity Note [Abstract] | |||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Warrants to | Weighted | |||||||
Purchase | Average | ||||||||
Common Shares | Exercise Price | ||||||||
Outstanding at June 30, 2013 | 1,462,500 | $ | 0.25 | ||||||
Issued March 2014 | 666,667 | 0.3 | |||||||
Issued June 2014 | 1,627,500 | 0.25 | |||||||
Exercised | - | - | |||||||
Expired | - | - | |||||||
Outstanding at June 30, 2014 | 3,756,667 | $ | 0.26 | ||||||
through March 31, 2015 | |||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants to | Exercise | Expiration Date | ||||||
Purchase | Price | ||||||||
Common Shares | |||||||||
1,462,500 | $ | 0.25 | September 1, 2016* | ||||||
666,667 | 0.3 | 4-Mar-17 | |||||||
1,627,500 | 0.25 | 1-Nov-16 |
7_MINERAL_PROPERTY_COMMITMENTS1
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Tables) | 9 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Mineral Industries Disclosures Related Pary [Abstract] | |||||||||
Schedule of Advanced Royalty Payments - Klondike North Property | Date | Payment | Common | ||||||
Amount | Shares | ||||||||
Upon execution of Agreement – October 24, 2011 | $ | - | 500,000 | ||||||
First Anniversary of the Agreement | 10,000 | - | |||||||
Second Anniversary of the Agreement | 20,000 | * | - | ||||||
Third Anniversary of the Agreement | 30,000 | - | |||||||
Fourth Anniversary of the Agreement | 40,000 | - | |||||||
Fifth through the tenth Anniversary | 50,000 | - | |||||||
Eleventh Anniversary and thereafter | 100,000 | - | |||||||
Schedule of Work Commitment - Klondike North Property | Lease Year | Amount | |||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 25,000 | ||||||||
Third Lease Year | 50,000 | ||||||||
Fourth Lease Year | 75,000 | ||||||||
Fifth Lease Year and thereafter | 100,000 | ||||||||
Schedule of Advanced Royalty Payments - Eagleville Property | Date | Payment | Common | ||||||
Amount | Shares | ||||||||
Upon execution of Agreement – July 27, 2012 | $ | 6,000 | 300,000 | ||||||
On or prior to the 1st Anniversary of the Agreement | 15,000 | * | 150,000 | ||||||
On or prior to the 2nd Anniversary of the Agreement | 20,000 | ** | 150,000 | ||||||
On or prior to the 3rd Anniversary of the Agreement | 30,000 | - | |||||||
On or prior to the 4th Anniversary of the Agreement | 40,000 | - | |||||||
On or prior to the 5th through the 10th Anniversary | 50,000 | - | |||||||
On or prior to the 11th Anniversary and thereafter | 100,000 | - | |||||||
Schedule of Work Commitment - Eagleville Property | Lease Year | Amount | |||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 10,000 | ||||||||
Third Lease Year | 25,000 | ||||||||
Fourth Lease Year | 50,000 | ||||||||
Fifth Lease Year and thereafter | 100,000 | ||||||||
Schedule of Advanced Royalty Payments - Green Monster Danville Property | Date | Payment | Common | ||||||
Amount | Shares | ||||||||
Upon execution of Agreement – October 31, 2014 | $ | 2,500 | * | - | |||||
First Anniversary of the Agreement | 5,000 | - | |||||||
Second Anniversary of the Agreement | 10,000 | - | |||||||
Third Anniversary of the Agreement | 20,000 | - | |||||||
Fourth Anniversary of the Agreement | 30,000 | - | |||||||
Fifth Anniversary of the Agreement | 40,000 | - | |||||||
Sixth Anniversary through the tenth anniversary | 50,000 | - | |||||||
Eleventh Anniversary through the fifteenth | 75,000 | - | |||||||
Sixteenth Anniversary and thereafter | 100,000 | - | |||||||
Schedule of Work Commitment - Green Monster Danville Property | Lease Year | Amount | |||||||
First Lease Year | $ | 5,000 | |||||||
Second Lease Year | 10,000 | ||||||||
Third Lease Year and thereafter | 50,000 |
3_GOING_CONCERN_Details
3. GOING CONCERN (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Going Concern Note [Abstract] | ||||
Net Income (Loss) Attributable to Parent | ($68,694) | ($56,568) | ($304,187) | ($161,645) |
4_EARNINGS_PER_SHARE_Details
4. EARNINGS PER SHARE (Details) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2015 | Mar. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,756,667 | 2,129,167 |
5_CENTRAL_NEVADA_EXPLORATION_P1
5. CENTRAL NEVADA EXPLORATION PROGRAM and EARN-IN AGREEMENT (Details) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||||||||||||
Oct. 02, 2014 | Jun. 30, 2014 | Mar. 30, 2014 | Mar. 31, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2015 | Mar. 30, 2015 | Jan. 31, 2015 | Nov. 30, 2014 | Nov. 29, 2014 | Jul. 31, 2014 | Jun. 29, 2014 | Oct. 31, 2013 | Oct. 30, 2013 | Jul. 31, 2013 | Jun. 30, 2013 | Jun. 28, 2013 | Jun. 30, 2012 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||
Units Issued During Period, Shares, Issued for Cash | 3,100,000 | 1,333,333 | 1,333,333 | |||||||||||||||||||
Share Price (in Dollars per share) | $0.10 | $0.15 | $0.14 | $0.15 | $0.17 | $0.15 | $0.14 | $0.17 | $0.12 | $0.11 | $0.15 | $0.15 | $0.16 | $0.12 | $0.15 | $0.10 | $0.10 | $0.10 | $0.10 | $0.10 | $0.02 | |
Units Issued During Period, Value, Issued for Cash | 310,000 | 200,000 | 200,000 | |||||||||||||||||||
Unit - Description | 1 | |||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 9.92% | 9.10% | 9.92% | |||||||||||||||||||
Exploration Services Income (in Dollars) | $32,061 | $7,841 | $159,173 | $159,173 | $7,841 |
6_COMMON_STOCK_AND_WARRANTS_De
6. COMMON STOCK AND WARRANTS (Details) (USD $) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 9 Months Ended | 11 Months Ended | |||||||||||||||||
Mar. 30, 2015 | Mar. 31, 2015 | Jan. 31, 2015 | Dec. 31, 2014 | Nov. 29, 2014 | Nov. 30, 2014 | Jul. 31, 2014 | Jun. 29, 2014 | Jun. 30, 2014 | Mar. 30, 2014 | Mar. 31, 2014 | Oct. 30, 2013 | Oct. 31, 2013 | Jul. 31, 2013 | Sep. 30, 2014 | Jun. 30, 2012 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 28, 2013 | |
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions | 300,000 | 200,000 | 100,000 | 500,000 | 150,000 | 100,000 | 300,000 | |||||||||||||||
Share Price (in Dollars per share) | $0.11 | $0.14 | $0.15 | $0.15 | $0.16 | $0.15 | $0.12 | $0.15 | $0.10 | $0.15 | $0.17 | $0.10 | $0.10 | $0.10 | $0.15 | $0.02 | $0.14 | $0.17 | $0.12 | $0.10 | $0.10 | $0.10 |
Stock Issued During Period, Value, Acquisitions (in Dollars) | $20,000 | $10,000 | $10,000 | $36,000 | $30,000 | $30,000 | ||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 9,000 | 44,445 | 13,605 | 135,000 | 50,000 | 11,350 | 50,000 | 300,000 | 200,000 | |||||||||||||
Units Issued During Period, Shares, Issued for Cash | 3,100,000 | 1,333,333 | 1,333,333 | |||||||||||||||||||
Units Issued During Period, Value, Issued for Cash | 310,000 | 200,000 | 200,000 | |||||||||||||||||||
Proceeds from Issuance of Common Stock (in Dollars) | 261,060 | 404,000 | ||||||||||||||||||||
Debt Issuance Cost (in Dollars) | $48,940 | |||||||||||||||||||||
Broker Warrants Issued During Period, Warrants, Issued for Services | 155,000 |
6_COMMON_STOCK_AND_WARRANTS_De1
6. COMMON STOCK AND WARRANTS (Details) - Warrant Activity (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2015 | Jun. 30, 2014 | Mar. 04, 2017 | Nov. 01, 2016 | Sep. 01, 2016 | |
Warrant Activity [Abstract] | |||||||
Outstanding at period end | 3,756,667 | 1,462,500 | |||||
Outstanding at period end | $0.25 | $0.26 | $0.25 | $0.30 | $0.25 | $0.25 | |
Issued | 1,627,500 | 666,667 | |||||
Issued | $0.25 | $0.30 |
6_COMMON_STOCK_AND_WARRANTS_De2
6. COMMON STOCK AND WARRANTS (Details) - Warrants Outstanding (USD $) | 20 Months Ended | 22 Months Ended | 26 Months Ended | ||
Sep. 01, 2016 | Nov. 01, 2016 | Mar. 04, 2017 | Mar. 31, 2015 | Jun. 30, 2014 | |
Warrants Outstanding [Abstract] | |||||
1,462,500 | 1,627,500 | 666,667 | |||
$0.25 | $0.25 | $0.30 | $0.26 | $0.25 | |
1-Sep-16 | 1-Nov-16 | 4-Mar-17 |
7_MINERAL_PROPERTY_COMMITMENTS2
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) (USD $) | 1 Months Ended | 3 Months Ended | 4 Months Ended | 9 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||||||||||||
Jul. 31, 2014 | Oct. 30, 2013 | Jul. 31, 2013 | Mar. 31, 2015 | Jun. 30, 2012 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2015 | Jun. 30, 2015 | Mar. 30, 2015 | Jan. 31, 2015 | Dec. 31, 2014 | Nov. 30, 2014 | Nov. 29, 2014 | Oct. 31, 2014 | Sep. 30, 2014 | Jun. 29, 2014 | Mar. 30, 2014 | Oct. 31, 2013 | Jun. 28, 2013 | Jul. 27, 2012 | Feb. 21, 2012 | |
Mineral Industries Disclosures Related Pary [Abstract] | |||||||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 9.92% | 9.92% | 9.10% | ||||||||||||||||||||||
Lode Mining Claims (in Dollars per Item) | 91 | 58 | 38 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions (in Shares) | 300,000 | 200,000 | 100,000 | 500,000 | 150,000 | 100,000 | 300,000 | ||||||||||||||||||
Share Price (in Dollars per share) | $0.12 | $0.10 | $0.10 | $0.14 | $0.02 | $0.14 | $0.17 | $0.12 | $0.10 | $0.10 | $0.12 | $0.12 | $0.11 | $0.15 | $0.15 | $0.15 | $0.16 | $0.15 | $0.15 | $0.15 | $0.10 | $0.10 | |||
Stock Issued During Period, Value, Acquisitions | $20,000 | $10,000 | $10,000 | $36,000 | $30,000 | $30,000 | |||||||||||||||||||
Contractual Obligation | 200,000 | 5,000 | |||||||||||||||||||||||
undefined | 32,000 | 32,000 | |||||||||||||||||||||||
Maintenance Costs | $834 | $12,245 |
7_MINERAL_PROPERTY_COMMITMENTS3
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Klondike North Property - Advanced Royalty Payments (USD $) | 1 Months Ended | 12 Months Ended | 13 Months Ended | 24 Months Ended | 25 Months Ended | 36 Months Ended | 37 Months Ended | 48 Months Ended | 49 Months Ended | 108 Months Ended | 109 Months Ended | 120 Months Ended | 121 Months Ended | ||||||
Oct. 31, 2014 | Jul. 27, 2012 | Oct. 24, 2011 | Jul. 27, 2013 | Oct. 31, 2015 | Oct. 24, 2012 | Jul. 27, 2014 | Oct. 31, 2016 | Oct. 24, 2013 | Jul. 27, 2015 | Oct. 31, 2017 | Oct. 24, 2014 | Jul. 27, 2016 | Oct. 31, 2018 | Oct. 24, 2015 | Jul. 27, 2021 | Oct. 24, 2020 | Jul. 27, 2022 | Oct. 24, 2021 | |
Klondike North Property - Advanced Royalty Payments [Abstract] | |||||||||||||||||||
Upon execution of Agreement b October 24, 2011 | $2,500 | $6,000 | $500,000 | ||||||||||||||||
First Anniversary of the Agreement | 15,000 | 5,000 | 10,000 | ||||||||||||||||
Second Anniversary of the Agreement | 20,000 | 10,000 | 20,000 | ||||||||||||||||
Third Anniversary of the Agreement | 30,000 | 20,000 | 30,000 | ||||||||||||||||
Fourth Anniversary of the Agreement | 40,000 | 30,000 | 40,000 | ||||||||||||||||
Fifth through the tenth Anniversary | 50,000 | 50,000 | |||||||||||||||||
Eleventh Anniversary and thereafter | $100,000 | $100,000 |
7_MINERAL_PROPERTY_COMMITMENTS4
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Klondike North Property - Work Commitment (USD $) | Oct. 31, 2016 | Jul. 27, 2016 | Oct. 31, 2015 | Jul. 27, 2015 | Mar. 31, 2015 | Oct. 31, 2014 | Jul. 27, 2014 | Jul. 27, 2013 | Jul. 27, 2012 |
Klondike North Property - Work Commitment [Abstract] | |||||||||
First Lease Year | $5,000 | $5,000 | $5,000 | ||||||
Second Lease Year | 10,000 | 25,000 | 10,000 | ||||||
Third Lease Year | 50,000 | 25,000 | |||||||
Fourth Lease Year | 50,000 | 75,000 | |||||||
Fifth Lease Year and thereafter | $50,000 | $100,000 | $100,000 |
7_MINERAL_PROPERTY_COMMITMENTS5
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Eagleville Property - Advanced Royalty Payments (USD $) | 1 Months Ended | 12 Months Ended | 13 Months Ended | 24 Months Ended | 25 Months Ended | 36 Months Ended | 37 Months Ended | 48 Months Ended | 49 Months Ended | 108 Months Ended | 109 Months Ended | 120 Months Ended | 121 Months Ended | ||||||
Oct. 31, 2014 | Jul. 27, 2012 | Oct. 24, 2011 | Jul. 27, 2013 | Oct. 31, 2015 | Oct. 24, 2012 | Jul. 27, 2014 | Oct. 31, 2016 | Oct. 24, 2013 | Jul. 27, 2015 | Oct. 31, 2017 | Oct. 24, 2014 | Jul. 27, 2016 | Oct. 31, 2018 | Oct. 24, 2015 | Jul. 27, 2021 | Oct. 24, 2020 | Jul. 27, 2022 | Oct. 24, 2021 | |
Eagleville Property - Advanced Royalty Payments [Abstract] | |||||||||||||||||||
Upon execution of Agreement b July 27, 2012 | $2,500 | $6,000 | $500,000 | ||||||||||||||||
Upon execution of Agreement b July 27, 2012 (in Shares) | 300,000 | ||||||||||||||||||
On or prior to the 1st Anniversary of the Agreement | 15,000 | 5,000 | 10,000 | ||||||||||||||||
On or prior to the 1st Anniversary of the Agreement (in Shares) | 150,000 | ||||||||||||||||||
On or prior to the 2nd Anniversary of the Agreement | 20,000 | 10,000 | 20,000 | ||||||||||||||||
On or prior to the 2nd Anniversary of the Agreement (in Shares) | 150,000 | ||||||||||||||||||
On or prior to the 3rd Anniversary of the Agreement | 30,000 | 20,000 | 30,000 | ||||||||||||||||
On or prior to the 4th Anniversary of the Agreement | 40,000 | 30,000 | 40,000 | ||||||||||||||||
On or prior to the 5th through the 10th Anniversary | 50,000 | 50,000 | |||||||||||||||||
On or prior to the 11th Anniversary and thereafter | $100,000 | $100,000 |
7_MINERAL_PROPERTY_COMMITMENTS6
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Eagleville Property - Work Commitment (USD $) | Oct. 31, 2016 | Jul. 27, 2016 | Oct. 31, 2015 | Jul. 27, 2015 | Mar. 31, 2015 | Oct. 31, 2014 | Jul. 27, 2014 | Jul. 27, 2013 | Jul. 27, 2012 |
Eagleville Property - Work Commitment [Abstract] | |||||||||
First Lease Year | $5,000 | $5,000 | $5,000 | ||||||
Second Lease Year | 10,000 | 25,000 | 10,000 | ||||||
Third Lease Year | 50,000 | 25,000 | |||||||
Fourth Lease Year | 50,000 | 75,000 | |||||||
Fifth Lease Year and thereafter | $50,000 | $100,000 | $100,000 |
7_MINERAL_PROPERTY_COMMITMENTS7
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Green Monster-Danville Property - Advanced Royalty Payments (USD $) | 1 Months Ended | 12 Months Ended | 13 Months Ended | 24 Months Ended | 25 Months Ended | 36 Months Ended | 37 Months Ended | 48 Months Ended | 49 Months Ended | 61 Months Ended | 133 Months Ended | 205 Months Ended | ||||||
Oct. 31, 2014 | Jul. 27, 2012 | Oct. 24, 2011 | Jul. 27, 2013 | Oct. 31, 2015 | Oct. 24, 2012 | Jul. 27, 2014 | Oct. 31, 2016 | Oct. 24, 2013 | Jul. 27, 2015 | Oct. 31, 2017 | Oct. 24, 2014 | Jul. 27, 2016 | Oct. 31, 2018 | Oct. 24, 2015 | Oct. 31, 2019 | Oct. 31, 2025 | Oct. 31, 2031 | |
Green Monster-Danville Property - Advanced Royalty Payments [Abstract] | ||||||||||||||||||
Upon execution of Agreement b October 31, 2014 | $2,500 | $6,000 | $500,000 | |||||||||||||||
First Anniversary of the Agreement | 15,000 | 5,000 | 10,000 | |||||||||||||||
Second Anniversary of the Agreement | 20,000 | 10,000 | 20,000 | |||||||||||||||
Third Anniversary of the Agreement | 30,000 | 20,000 | 30,000 | |||||||||||||||
Fourth Anniversary of the Agreement | 40,000 | 30,000 | 40,000 | |||||||||||||||
Fifth Anniversary of the Agreement | 40,000 | |||||||||||||||||
Sixth Anniversary through the tenth anniversary | 50,000 | |||||||||||||||||
Eleventh Anniversary through the fifteenth | 75,000 | |||||||||||||||||
Sixteenth Anniversary and thereafter | $100,000 |
7_MINERAL_PROPERTY_COMMITMENTS8
7. MINERAL PROPERTY COMMITMENTS - RELATED PARTY (Details) - Green Monster-Danville Property - Work Commitment (USD $) | Oct. 31, 2016 | Jul. 27, 2016 | Oct. 31, 2015 | Mar. 31, 2015 | Oct. 31, 2014 | Jul. 27, 2013 | Jul. 27, 2012 |
Green Monster-Danville Property - Work Commitment [Abstract] | |||||||
First Lease Year | $5,000 | $5,000 | $5,000 | ||||
Second Lease Year | 10,000 | 25,000 | 10,000 | ||||
Third Lease Year and thereafter | $50,000 | $100,000 | $100,000 |