Document And Entity Information
Document And Entity Information | 9 Months Ended |
Dec. 31, 2023 | |
Document Information [Line Items] | |
Entity Registrant Name | FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. |
Current Fiscal Year End Date | --03-31 |
Document, Type | 6-K |
Document, Period End Date | Dec. 31, 2023 |
Entity, File Number | 001-41769 |
Entity, Address, Address Line One | Suite 250, 750 West Pender Street |
Entity, Address, City or Town | Vancouver |
Entity, Address, State or Province | BC |
Entity, Address, Country | CA |
Entity, Address, Postal Zip Code | V6C 2T7 |
Amendment Flag | false |
Entity Central Index Key | 0001935418 |
Condensed Interim Consolidated
Condensed Interim Consolidated Statements of Financial Position (Current Period Unaudited) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Current assets | ||
Cash | $ 1,453,147 | $ 574,587 |
GST receivable | 39,204 | 132,515 |
Prepaid expenses and deposits | 328,211 | 56,710 |
Net investment in sublease | 0 | 31,537 |
Total current assets | 1,820,562 | 795,349 |
Non-current assets | ||
Prepaid expenses and deposits | 19,744 | 24,404 |
Long-term investment | 0 | 2,900 |
Exploration and evaluation assets | 13,293,755 | 12,477,791 |
Total assets | 15,134,061 | 13,300,444 |
Current liabilities | ||
Accounts payable and accrued liabilities | 683,944 | 1,621,721 |
Short-term loans payable | 1,138,610 | 1,216,715 |
Lease obligation | 0 | 34,386 |
Loan payable | 0 | 40,000 |
Total current liabilities | 1,822,554 | 2,912,822 |
Non-current liabilities | ||
Derivative liability | 264,934 | 0 |
Total liabilities | 2,087,488 | 2,912,822 |
Equity | ||
Capital stock | 30,995,098 | 26,449,839 |
Reserves | 2,872,303 | 1,806,894 |
Deficit | (20,820,828) | (17,869,111) |
Total equity | 13,046,573 | 10,387,622 |
Total liabilities and equity | $ 15,134,061 | $ 13,300,444 |
Condensed Interim Consolidate_2
Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited) - CAD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
EXPENSES | ||||
General and administration | $ 661,082 | $ 956,284 | $ 2,085,129 | $ 1,915,478 |
Sales and marketing | 173,254 | 51,770 | 436,865 | 147,989 |
Share-based payments | 144,687 | 776,916 | 855,461 | 1,316,890 |
Loss before other items | (979,023) | (1,784,970) | (3,377,455) | (3,380,357) |
Finance income on sublease | 0 | 1,872 | 1,314 | 7,432 |
Foreign exchange gain (loss) | (24,607) | 472 | (56,252) | (28,105) |
Gain on sublease | 0 | 1,481 | 2,962 | 4,444 |
Gain on derivative liabilities | 372,285 | 0 | 558,663 | 0 |
Gain on sale of property | 0 | 3,500,000 | 0 | 3,500,000 |
Interest expense | (33,608) | (29,159) | (98,066) | (75,633) |
Other income | 10,013 | 0 | 10,810 | 0 |
Recovery of flow-through premium liability | 0 | 464,532 | 0 | 610,845 |
Realized loss on marketable securities | 0 | 0 | (1,595) | 0 |
Unrealized gain (loss) on marketable securities | 0 | 0 | 1,850 | (4,000) |
Write-off of prepaid | 0 | 0 | (1,000) | 0 |
Income (loss) and comprehensive income (loss) for the period | $ (654,940) | $ 2,154,228 | $ (2,958,769) | $ 634,626 |
Basic income (loss) per common share (in CAD per share) | $ (0.14) | $ 0.55 | $ (0.68) | $ 0.17 |
Diluted income (loss) per common share (in CAD per share) | $ (0.14) | $ 0.53 | $ (0.68) | $ 0.16 |
Weighted average number of common shares outstanding - basic (in shares) | 4,838,329 | 3,943,682 | 4,380,810 | 3,792,918 |
Weighted average number of common shares outstanding - diluted (in shares) | 4,838,329 | 4,029,600 | 4,380,810 | 3,908,367 |
Share options 1 [member] | ||||
EXPENSES | ||||
Dilutive effect (in shares) | 0 | 79,632 | 0 | 103,598 |
Dilutive warrants [member] | ||||
EXPENSES | ||||
Dilutive effect (in shares) | 0 | 6,286 | 0 | 11,851 |
Condensed Interim Consolidate_3
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Mar. 31, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
Income (loss) and comprehensive income (loss) for the period | $ (654,940) | $ 321,952 | $ 2,154,228 | $ (2,958,769) | $ 634,626 | ||
Items not involving cash: | |||||||
Finance income on sublease | (1,314) | (7,432) | |||||
Forgiveness of debt | (10,000) | 0 | |||||
Gain on derivative liabilities | (558,663) | 0 | |||||
Gain on sale of property | 0 | (3,500,000) | 0 | (3,500,000) | |||
Interest expense | 98,066 | 14,990 | |||||
Recovery of flow-through premium liability | 0 | (464,532) | 0 | (610,845) | |||
Share-based payments | 855,461 | 1,316,890 | |||||
Share for services | 187,872 | 0 | |||||
Realized loss on marketable securities | 0 | 0 | 1,595 | 0 | |||
Unrealized loss (gain) on marketable securities | 0 | 0 | (1,850) | 4,000 | |||
Write-off of prepaid | 0 | 0 | 1,000 | 0 | |||
GST receivable | 93,311 | (27,223) | |||||
Accounts receivable | 0 | (289) | |||||
Prepaid expenses and deposits | (267,841) | 24,357 | |||||
Accounts payable and accrued liabilities | (244,240) | 49,573 | |||||
Net cash used in operating activities | (2,805,372) | (2,101,353) | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
Exploration and evaluation acquisition costs | (222,211) | 0 | $ (294,962) | ||||
Exploration and evaluation expenditures | (1,221,855) | (3,261,683) | |||||
Exploration and evaluation recoveries | 100,000 | 100,000 | |||||
Receipt of sublease payments | 32,851 | 0 | |||||
Sale of property | 0 | 3,500,000 | |||||
Sale proceeds from investment | 3,155 | 0 | |||||
Net cash provided by (used in) investing activities | (1,308,060) | 338,317 | |||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
Private placement | 5,418,400 | 1,661,807 | |||||
Share issue costs | (387,416) | (99,624) | |||||
Exercise of warrants | 0 | 1,059,017 | |||||
Exercise of options | 131,400 | 77,750 | |||||
Short-term loan received (repayment) | (30,000) | 1,145,520 | |||||
Loan interest repayment | (104,579) | 0 | |||||
Receipt of sublease payments | 0 | 49,276 | |||||
Repayment of lease obligation | (35,813) | (53,720) | |||||
Net cash provided by financing activities | 4,991,992 | 3,840,027 | |||||
Change in cash for the period | 878,560 | 2,076,991 | |||||
Cash, beginning of the period | 2,312,446 | 574,587 | 235,455 | $ 2,312,446 | 235,455 | ||
Cash, end of period | $ 1,453,147 | $ 574,587 | $ 2,312,446 | 1,453,147 | 2,312,446 | $ 1,453,147 | $ 574,587 |
Cash paid during the period for interest and taxes | $ 104,579 | $ 53,720 |
Condensed Interim Consolidate_4
Condensed Interim Consolidated Statements of Changes In Equity (Unaudited) - CAD ($) | Issued capital [member] | Capital reserve [member] | Retained earnings [member] | Total |
Balance (in shares) at Mar. 31, 2022 | 3,608,519 | |||
Balance at Mar. 31, 2022 | $ 24,164,441 | $ 2,294,394 | $ (19,717,089) | $ 6,741,746 |
Statement Line Items [Line Items] | ||||
Private placements (in shares) | 97,753 | |||
Private placements | $ 1,661,807 | 0 | 0 | $ 1,661,807 |
Acquisition of exploration and evaluation assets (in shares) | 17,595 | 879,732 | ||
Acquisition of exploration and evaluation assets | $ 152,454 | 0 | 0 | $ 152,454 |
Flow-through premium | (855,342) | 0 | 0 | (855,342) |
Share issuance costs | $ (99,624) | 0 | 0 | (99,624) |
Share issued – warrants exercised (in shares) | 202,750 | |||
Share issued – warrants exercised | $ 1,059,017 | 0 | 0 | 1,059,017 |
Share issued – options exercised (in shares) | 7,000 | |||
Share issued – options exercised | $ 156,278 | (78,528) | 0 | 77,750 |
Share issued – PSU redeemed (in shares) | 0 | |||
Share issued – PSU redeemed | $ 177,500 | (177,500) | 0 | 0 |
Share issuance costs – warrants | (22,000) | 22,000 | 0 | 0 |
Shares-based payments | 0 | 1,316,890 | 0 | 1,316,890 |
Options cancelled | 0 | (61,600) | 61,600 | 0 |
PSU cancelled | 0 | (517,248) | 517,248 | 0 |
Income (loss) and comprehensive income (loss) for the period | $ 0 | 0 | 634,626 | 634,626 |
Balance (in shares) at Dec. 31, 2022 | 3,933,617 | |||
Balance at Dec. 31, 2022 | $ 26,394,531 | 2,798,408 | (18,503,615) | 10,689,324 |
Statement Line Items [Line Items] | ||||
Flow-through premium | $ (122,192) | 0 | 0 | (122,192) |
Share issued – warrants exercised (in shares) | 10,000 | |||
Share issued – warrants exercised | $ 0 | 0 | 0 | 0 |
Share issued – options exercised (in shares) | 6,000 | |||
Share issued – options exercised | $ 0 | 0 | 0 | 0 |
Share issued – PSU redeemed (in shares) | 20,000 | |||
Share issued – PSU redeemed | $ 177,500 | (177,500) | 0 | 0 |
Shares-based payments | 0 | (501,462) | 0 | (501,462) |
PSU cancelled | 0 | 517,248 | (517,248) | 0 |
Income (loss) and comprehensive income (loss) for the period | 0 | 0 | 321,952 | 321,952 |
Options expired/forfeited | $ 0 | (829,800) | 829,800 | 0 |
Balance (in shares) at Mar. 31, 2023 | 3,969,617 | |||
Balance at Mar. 31, 2023 | $ 26,449,839 | 1,806,894 | (17,869,111) | 10,387,622 |
Statement Line Items [Line Items] | ||||
Private placements (in shares) | 800,000 | |||
Private placements | $ 5,418,400 | 0 | 0 | $ 5,418,400 |
Acquisition of exploration and evaluation assets (in shares) | 29,900 | |||
Acquisition of exploration and evaluation assets | 235,600 | 0 | 0 | $ 235,600 |
Share issuance costs | $ (657,816) | 270,400 | 0 | (387,416) |
Share issued – options exercised (in shares) | 36,000 | |||
Share issued – options exercised | $ 184,800 | (53,400) | 0 | 131,400 |
Shares-based payments | 0 | 855,461 | 0 | 855,461 |
Income (loss) and comprehensive income (loss) for the period | 0 | 0 | (2,958,769) | (2,958,769) |
Options expired/forfeited | 0 | (7,052) | 7,052 | 0 |
Derivative liability | $ (823,597) | 0 | 0 | $ (823,597) |
Share issued for services (in shares) | 30,900 | 30,900 | ||
Share issued for services | $ 187,872 | 0 | 0 | $ 187,872 |
Balance (in shares) at Dec. 31, 2023 | 4,866,417 | |||
Balance at Dec. 31, 2023 | $ 30,995,098 | $ 2,872,303 | $ (20,820,828) | $ 13,046,573 |
Note 1 - Nature and Continuance
Note 1 - Nature and Continuance of Operations | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of nature and continuance of operations [text block] | 1. NATURE AND CONTINUANCE OF OPERATIONS Foremost Lithium Resource & Technology Ltd. (the “Company”), which is incorporated under the laws of the Province of British Columbia, is a public company listed on the Canadian Securities Exchange (the “CSE”) and trades under the symbol FAT. The Company’s head office is located at Suite 250, 750 V6C 2T7. 1055 1500, 11117, V6E 4N7. On January 4, 2022, On February 14, 2022, On July 5, 2023, 50 one On August 22, 2023, The Company is an exploration company focused on the identification and development of high potential mineral opportunities in stable jurisdictions. Going concern of operations These condensed interim consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. As at December 31, 2023, March 31, 2023 - December 31, 2023, March 31, 2023 - not not may The Company’s business financial condition and results of operations may February 2022. may no not may In order to continue as a going concern and to meet its corporate objectives, the Company will require additional financing through debt or equity issuances or other available means. Although the Company has been successful in the past in obtaining financing, there is no FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 |
Note 2 - Basis of Preparation
Note 2 - Basis of Preparation | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of basis of preparation of financial statements [text block] | 2. BASIS OF PREPARATION Statement of compliance These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with IAS 34, 34” not March 31, 2023, Basis of measurement These condensed interim consolidated financial statements have been prepared on a historical cost basis, except for financial instruments classified as fair value through profit or loss which are stated at their fair value. In addition, these financial statements have been prepared using the accrual basis of accounting except for cash flow information. Basis of consolidation These condensed interim consolidated financial statements include the financial statements of Foremost Lithium Resource & Technology Ltd. and its subsidiaries, Sierra Gold & Silver Ltd. and Sequoia Gold & Silver Ltd. Name of Subsidiary Country of Incorporation Principal Activity Proportion of Ownership Interest December 31, 2023 March 31, 2023 Sierra Gold & Silver Ltd. USA Holding Company 100% 100% Sequoia Gold & Silver Ltd. Canada Holding Company 100% 100% All intercompany balances and transactions have been eliminated. |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of material accounting policy information [text block] | 3. SIGNIFICANT ACCOUNTING POLICIES The preparation of financial data is based on accounting principles and practices consistent with those used in the preparation of the audited consolidated financial statements as at March 31, 2023. March 31, 2023. Use of estimates and judgments The preparation of these condensed interim consolidated financial statements in conformity with IFRS requires management to make judgments and estimates and form assumptions that affect each of the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, revenue and expenses. Management uses historical experience and various other factors it believes to be reasonable under the given circumstances as the basis for its judgments and estimates. Actual outcomes may Significant accounting judgments and critical accounting estimates Significant accounting judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the condensed interim consolidated financial statements include, but are not 1. assessment of any indicators of impairment of the carrying value of the Company’s exploration and evaluation assets; 2. the ability of the Company to continue as a going concern; and 3. contingencies which, by their nature, will only be resolved when one Foreign currency translation The functional currency for the Company and its subsidiaries is the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the functional currency of the entity at the exchange rate in existence at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated at the period end date exchange rates. The functional currency of the Company and its subsidiaries is the Canadian dollar, which is also the presentation currency of these condensed interim consolidated financial statements. Financial instruments IFRS 9 9 The classification of debt instruments is driven by the business model for managing the financial assets, liabilities and their contractual cash flow characteristics. Debt instruments are measured at amortized cost if the business model is to hold the instrument for collection of contractual cash flows and those cash flows are solely principal and interest. If the business model is not The Company classifies its financial assets into one Equity instruments that are held for trading (including all equity derivative instruments) are classified as FVTPL, and on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at fair value through other comprehensive income (“FVTOCI”). FVTPL – Financial assets carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statement of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from changes in the fair value of the financial asset held at FVTPL are included in the statement of income (loss) and comprehensive income (loss) in the period in which they arise. Derivatives are also categorized as FVTPL unless they are designated as hedges. FVTOCI - Investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently, they are measured at fair value, with gains and losses arising from changes in fair value recognized in other comprehensive income. There is no Financial assets at amortized cost - A financial asset is measured at amortized cost using the effective interest method if the objective of the business model is to hold the financial asset for the collection of contractual cash flows and the asset's contractual cash flows are comprised solely of payments of principal and interest. They are classified as current assets or non-current assets based on their maturity date and are initially recognized at fair value and subsequently carried at amortized cost less any impairment. Financial liabilities other than derivative liabilities are recognized initially at fair value and are subsequently stated at amortized cost. Transaction costs on financial assets and liabilities other than those classified at FVTPL are treated as part of the carrying value of the asset or liability. Transaction costs for assets and liabilities at FVTPL are expensed as incurred. The following table shows the classification and measurement of the Company’s financial instruments under IFRS 9: Financial assets/liabilities Classification and measurement Cash at amortized cost Long-term investment at FVTPL Net investment in sublease at amortized cost Accounts payable and accrued liabilities at amortized cost Lease obligation at amortized cost Short-term loans payable at amortized cost Derivative liability at FVTPL New accounting standards issued and effective A number of new standards, and amendments to standards and interpretations, are not not January 1, 2024: Classification of Liabilities as Current or Non-current (Amendments to IAS 1 IAS1 The adoption of this new accounting standard is not |
Note 4 - Leases
Note 4 - Leases | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of leases [text block] | 4. LEASES For the period ending December 31, 2023, 2022 December 31, 2023. Lease obligation, March 31, 2022 $ 96,340 Interest expense 9,673 Payments made (71,627 ) Lease obligation, March 31, 2023 34,386 Interest expense 1,427 Payments made (35,813 ) Lease obligation, December 31, 2023 - Current portion - Non-current portion $ - FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 4. LEASES The weighted average incremental borrowing rate applied to the lease liabilities on April 1, 2019 During the period ended December 31, 2023, 2022 For the period ended December 31, 2023, 2022 December 31, 2023. Net investment in sublease, March 31, 2022 $ 88,360 Finance income 8,879 Payments received (65,702 ) Net investment in sublease, March 31, 2023 31,537 Finance income 1,314 Payments received (32,851 ) Net investment in sublease, December 31, 2023 - Current portion - Non-current portion $ - FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 |
Note 5 - Exploration and Evalua
Note 5 - Exploration and Evaluation Assets | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 5. EXPLORATION AND EVALUATION ASSETS During the period ended December 31, 2023, Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2023 $ 1,909,407 $ 43,500 $ 1,334,548 $ 200,000 $ 150,000 $ 10,454 $ - $ 3,647,909 Cash - 1,755 28,265 100,000 50,000 638 41,553 222,211 Shares - - - 100,000 50,000 - 85,600 235,600 Balance, December 31, 2023 1,909,407 45,255 1,362,813 400,000 250,000 11,092 127,153 4,105,720 Exploration costs Balance, March 31, 2023 4,653,559 596,124 371,909 660,472 2,509,453 38,365 - 8,829,882 Assay - - - 15,188 2,669 - - 17,857 Geological, consulting and other 57,773 83,892 47,324 168,254 78,553 4,500 - 440,296 Exploration cost recovery - - - - (100,000 ) - - (100,000 ) Balance, December 31, 2023 4,711,332 680,016 419,233 843,914 2,490,675 42,865 - 9,188,035 Total Balance, December 31, 2023 $ 6,620,739 $ 725,271 $ 1,782,046 $ 1,243,914 $ 2,740,675 $ 53,957 $ 127,153 $ 13,293,755 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS During the year ended March 31, 2023, Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Total Acquisition costs Balance, March 31, 2022 $ 1,909,407 $ 40,500 $ 1,200,586 $ - $ 50,000 $ - $ 3,200,493 Cash - 3,000 133,962 100,000 50,000 8,000 294,962 Shares - - - 100,000 50,000 2,454 152,454 Balance, March 31, 2023 1,909,407 43,500 1,334,548 200,000 150,000 10,454 3,647,909 Exploration costs Balance, March 31, 2022 3,402,511 - 244,216 - 343,902 - 3,990,629 Assay 805 - - - 496 - 1,301 Drilling 29,084 - - - - - 29,084 Geological, consulting and other 780,155 412,874 127,693 498,213 1,397,541 38,365 3,254,841 Helicopter 441,004 183,250 - 162,259 1,067,514 - 1,854,027 Exploration cost recovery - - - - (300,000 ) - (300,000 ) Balance, March 31, 2023 4,653,559 596,124 371,909 660,472 2,509,453 38,365 8,829,882 Total Balance, March 31, 2023 $ 6,562,966 $ 639,624 $ 1,706,457 $ 860,472 $ 2,659,453 $ 48,819 $ 12,477,791 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS Zoro Property Zoro I The Company earned a 100% interest in and to the Zoro I Claim in the Snow Lake area in Manitoba by paying a total of $150,000 in cash and by issuing 140,000 common shares (valued at $635,000). In addition, during the year ended March 31, 2017, Zoro North The Company earned a 100% interest in and to all lithium-bearing pegmatites and lithium related minerals in the Zoro North property located near Snow Lake, Manitoba, subject to a 2% net smelter return royalty (“NSR”), by paying a total of $250,000 in cash, by issuing $250,000 in shares (52,656 shares issued) and by incurring $1,000,000 in exploration expenditures. The Company can acquire an undivided 50% interest in the NSR, being one During the option period, the Company will be solely responsible for carrying out and administering all exploration, development and mining work on the property and for maintaining the property in good standing. Green Bay Claims The Company earned a 100% interest in and to all lithium-bearing pegmatites and lithium related minerals in the Green Bay Claims located in Manitoba by paying $250,000 in cash and by issuing $250,000 in shares (54,494 shares issued). The property is subject to a 2% NSR. The Company can acquire an undivided 50% interest in the NSR, being one During the option period, the Company is responsible for carrying out and administering all exploration, development and mining work on the property and for maintaining the property in good standing. Grass River Property During the year ended March 31, 2022, March 31, 2023, December 31, 2023, FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS Peg North Property During the year ended March 31, 2023, (a) cash payments of $750,000 as follows: (i) a cash payment of $100,000 on or before June 23, 2022 ( (ii) a cash payment of $100,000 on or before June 9, 2023 ( (iii) a cash payment of $100,000 on or before June 9, 2024; (iv) a cash payment of $150,000 on or before June 9, 2025; (v) a cash payment of $150,000 on or before June 9, 2026; (vi) a cash payment of $150,000 on or before June 9, 2027; (b) the issuance of $750,000 in shares of the Company as follows; (i) the issuance of $100,000 in common shares on or before June 23, 2022 ( (ii) the issuance of $100,000 in common shares on or before June 9, 2023 ( (iii) the issuance of $100,000 in common shares on or before June 9, 2024; (iv) the issuance of $150,000 in common shares on or before June 9, 2025; (v) the issuance of $150,000 in common shares on or before June 9, 2026; (vi) the issuance of $150,000 in common shares on or before June 9, 2027; (c) incurring exploration expenditures totaling $3,000,000 (incurred $843,914) due on or before June 9, 2027. The property is subject to a 2% NSR. Pursuant to a second March 31, 2023, one Winston Property Ivanhoe/Emporia claims In accordance with the terms and condition of the underlying purchase agreement, in order to complete the acquisition of the Ivanhoe/Emporia claims, the Company is required to pay the original owner of the claims the remaining purchase price of US$315,205 US$184,795 December 31, 2023, US$244,925 March 31, 2023 – US$231,125 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS Winston Property Little Granite Claims During the year ended March 31, 2023, US$75,000 7 October 15, 2023, December 31, 2023. Prior to acquiring the 100% interest, during prior fiscal years, the Company had the following option agreements which are now superseded: During the year ended March 31, 2015, During the years ended March 31, 2016 2017, (a) the cash payment of non-refundable deposits of $35,000 (paid); (b) cash payments of $81,250 (paid); (c) the cash payment of $13,750 on or before November 15, 2014 ( (d) the issuance of 6,000 common shares of the Company on January 15, 2015 ( (e) cash payments of $120,000 as follows: (i) the cash payment of $40,000 on or before February 28, 2016 ( (ii) the cash payment of $40,000 on or before June 1, 2016 ( (iii) the cash payment of $40,000 on or before June 1, 2017 ( (f) the issuance of 50,000 common shares (30,000 shares issued) of the Company as follows: (i) 10,000 common shares on or before October 17, 2014 ( (ii) 10,000 common shares on or before October 17, 2015 ( (iii) 10,000 common shares on or before October 17, 2016; ( (iv) 10,000 common shares on or before October 17, 2017 ( (v) 10,000 common shares on or before October 17, 2018 ( (g) incurring exploration expenditures totaling $300,000 due on or before October 17, 2017 ( The agreement was also amended to include a further option to acquire up to an additional 30% (80% in total interest). In exchange for the amendment of the option agreement, the Company issued 2,000 common shares at a fair value of $3,000 on February 26, 2016. During the year ended March 31, 2017, FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS Winston Property During the year ended March 31, 2018, (a) a cash payment of $35,000 (paid); (b) the issuance of 50,000 common shares of the Company (issued and valued at $275,000); and (c) the issuance of a $50,000 non-interest-bearing promissory note which is repayable on August 24, 2017 ( In accordance with the terms and condition of the underlying purchase agreement in order to complete the acquisition of the Little Granite claims, the Company is required to make the following payments: (a) cash payments of US $12,000 on or before July 15, 2017 ( (b) cash payments of US $6,000 on or before March 31, 2018 ( (c) cash payments of US $12,000 on or before July 15, 2018 ( (d) cash payments of US $12,000 on or before July 15, 2019 ( (e) cash payments of US $12,000 on or before July 15, 2020 ( (f) cash payments of US $19,000 on or before October 1, 2020 ( (g) cash payments of US $19,000 on or before October 1, 2021 ( (h) cash payments of US $380,000 on or before October 1, 2022 ( US$19,000 Jean Lake Property On July 30, 2021, The option agreement provides that in order for the Company to earn a 100% interest in the project it is required to make the following cash payments and share issuances to Mount Morgan Resources Ltd. and incur the following project exploration expenditures as follows: (a) pay $25,000 in cash (paid) and issue common shares of the Company having a value of $25,000 (5,000 shares issued) on or before August 1, 2021; (b) pay $50,000 in cash (paid), issue $50,000 in common shares (6,704 shares issued) and incur $50,000 in exploration expenditures (incurred) on or before July 30, 2022; (c) pay $50,000 in cash (paid), issue $50,000 in common shares (6,128 shares issued) and incur $100,000 (accumulated) in exploration expenditures (incurred) by July 30, 2023; (d) pay $50,000 in cash, issue $50,000 in common shares and incur $150,000 (accumulated) in exploration expenditures (incurred) by July 30, 2024; (e) pay $75,000 in cash, issue $75,000 in common shares and incur $200,000 (accumulated) in exploration expenditures (incurred) by July 30, 2025. Once the Company earns the interest, the Company will grant a 2% NSR to Mount Morgan Resources Ltd. The NSR may FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 5. EXPLORATION AND EVALUATION ASSETS During the year ended March 31, 2022, March 31, 2022 March 31, 2023. During the year ended March 31, 2023, March 31, 2023. December 31, 2023. Lac Simard South Property During the period ended December 31, 2023, Jol Lithium Property During the year ended March 31, 2023, MB3530 |
Note 6 - Accounts Payable and A
Note 6 - Accounts Payable and Accrued Liabilities | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of trade and other payables [text block] | 6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payables and accrued liabilities for the Company are broken down as follows: Note December 31, 2023 March 31, 2023 Trade payables $ 168,910 $ 884,741 Advance royalty payable 324,445 313,001 Accrued liabilities 102,450 311,004 Due to related parties 10 88,139 112,975 Total $ 683,944 $ 1,621,721 During the year ended March 31, 2023, December 31, 2023, |
Note 7 - Short-term Loans Payab
Note 7 - Short-term Loans Payable | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of short-term loans payable [text block] | 7. SHORT-TERM LOANS PAYABLE December 31, 2023 March 31, 2023 Loan payable on demand, unsecured with 10 $ 5,000 $ 5,000 Loan payable on May 10, 2024, secured, with 11.35 1,133,610 1,143,998 US $ 50,000 - 67,717 $ 1,138,610 $ 1,216,715 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 7. SHORT-TERM LOANS PAYABLE During the year ended March 31, 2023, May 1, 2023 May 10, 2024 ( May 10, 2023). 2022 December 31, 2023. |
Note 8 - Loans Payable
Note 8 - Loans Payable | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of borrowings [text block] | 8. LOANS PAYABLE During the year ended March 31, 2021, 19. December 31, 2023, 5% December 31, 2023, $30,000 $10,000 |
Note 9 - Capital Stock and Rese
Note 9 - Capital Stock and Reserve | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of share capital, reserves and other equity interest [text block] | 9. CAPITAL STOCK AND RESERVE a) Authorized capital stock: As at December 31, 2023, (a) an unlimited number of common shares without par value; and (b) all issued shares are fully paid. b) Issued capital stock: During the period ended December 31, 2023, (a) closed an underwritten public offering in the United States (the “Offering”). The Company sold 800,000 units, each consisting of one common share and one warrant to purchase one common share, at a public offering price of $6.77 (USD $5.00) per unit. The warrants are exercisable into common shares at a price of USD $6.25 for five December 31, 2023, December 31, 2023. 1 August 22, 2023; (b) issued 10,700 common shares at a value of $85,600 as part of the acquisition payments for the Lac Simard South option agreement (see Note 5 (c) issued 13,072 common shares at a value of $100,000 as part of the acquisition payments for the Peg North option agreement (see Note 5 9. CAPITAL STOCK AND RESERVE (d) issued 6,128 common shares at a value of $50,000 as part of the acquisition payments for the Jean Lake option agreement (see Note 5 (e) issued 30,900 common shares at a value of $187,872 to a non-related consulting firm for services; and FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 (f) issued 36,000 common shares upon exercise of options for gross proceeds of $131,400, resulting in a reallocation of share-based reserves of $53,400 from reserves to share capital. The weighted average share price on the date of the option exercises was $4.95. c) Stock options: The Company’s Stock Option plan allows for the Board to grant stock options to Executives Officers, Directors, employees and consultants up to 10% of the issued and outstanding common stock of the Company. During the period ended December 31, 2023, (a) granted a stock options for 17,500 shares to a consultant of the Company. The option is exercisable at $5.65 per share for three (b) granted stock options for an aggregate of 40,000 shares to directors and a consultant of the Company. The options are exercisable at $6.60 per share for three (c) granted stock options for an aggregate of 85,000 shares to officers of the Company. The options are exercisable at $6.60 per share for five (d) granted a stock option for 36,000 shares to a consultant of the Company. The option is exercisable at $3.65 per share for one (e) granted a stock option for 20,000 shares to a director of the Company. The option is exercisable at $5.47 per share for three During the year ended March 31, 2023, (a) granted a stock option for 20,000 shares to a consultant of the Company. The option is exercisable at $12.75 per share for three (b) granted a stock option for 8,000 shares to a consultant of the Company. The option is exercisable at $13.75 per share for three (c) granted a stock option for 62,000 shares to a consultant of the Company. The option is exercisable at $9.00 per share for three (d) granted stock options for 31,000 shares to a consultant of the Company. The options are exercisable at $9.50 per share for three (e) had 121,000 stock options that expired or were forfeited, resulting in a reallocation of share-based reserves of $891,400 from reserves to deficit. FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 9. CAPITAL STOCK AND RESERVE c) Stock options Stock option transactions for the period ended December 31, 2023 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited/ Expired Balance December 31, 2023 Exercisable March 1, 2024 $ 16.50 15,000 - - - 15,000 15,000 November 14, 2024 $ 3.65 - 36,000 (36,000 ) - - - March 8, 2025 $ 15.50 4,000 - - - 4,000 4,000 September 2, 2025 $ 12.75 20,000 - - - 20,000 20,000 September 6, 2025 $ 13.75 8,000 - - - 8,000 8,000 November 20, 2025 $ 4.00 6,000 - - - 6,000 6,000 December 2, 2025 $ 9.00 62,000 - - - 62,000 62,000 December 13, 2025 $ 9.50 31,000 - - (10,000 ) 21,000 21,000 January 15, 2026 $ 7.25 35,300 - - - 35,300 35,300 August 25, 2026 $ 5.65 - 17,500 - - 17,500 17,500 September 6, 2026 $ 6.60 - 40,000 - - 40,000 40,000 November 1, 2026 $ 7.50 10,000 - - - 10,000 10,000 December 4, 2026 $ 5.47 - 20,000 - - 20,000 20,000 February 16, 2027 $ 17.50 20,000 - - (20,000 ) - - September 6, 2028 $ 6.60 - 85,000 - - 85,000 85,000 Total 211,300 198,500 (36,000 ) (30,000 ) 343,800 343,800 Weighted average exercise price $ 10.81 $ 5.87 $ 3.65 $ 14.83 $ 8.46 $ 8.46 Weighted average remaining life (years) 2.61 The fair value of stock options was calculated using the Black-Scholes option pricing model with the following weighted average assumptions. Weighted Average for the period ended December 31, 2023 Weighted Average for the year ended March 31, 2023 Fair value per option $ 4.07 $ 6.00 Exercise price $ 5.87 $ 11.00 Expected life (years) 3.50 3.00 Interest rate 4.22 % 3.49 % Annualized volatility (based on historical volatility) 109 % 118 % Dividend yield 0.00 % 0.00 % FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 9. CAPITAL STOCK AND RESERVE c) Stock options: Stock option transactions for the year ended March 31, 2023 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Forfeited/ Expired Balance March 31, 2023 Exercisable January 4, 2023 $ 14.25 105,000 - - (105,000 ) - - March 1, 2024 $ 16.50 15,000 - - - 15,000 15,000 March 8, 2025 $ 15.50 4,000 - - - 4,000 4,000 September 2, 2025 $ 12.75 - 20,000 - - 20,000 20,000 September 6, 2025 $ 13.75 - 8,000 - - 8,000 8,000 November 20, 2025 $ 4.00 8,000 - (2,000 ) - 6,000 6,000 December 2, 2025 $ 9.00 - 62,000 - - 62,000 62,000 December 13, 2025 $ 9.50 - 31,000 - - 31,000 31,000 January 15, 2026 $ 7.25 41,300 - (6,000 ) - 35,300 35,300 October 21, 2026 $ 5.25 5,000 - (5,000 ) - - - November 1, 2026 $ 7.50 10,000 - - - 10,000 10,000 December 3, 2026 $ 12.50 6,000 - - (6,000 ) - - January 17, 2027 $ 20.50 10,000 - - (10,000 ) - - February 16, 2027 $ 17.50 20,000 - - - 20,000 20,000 Total 224,300 121,000 (13,000 ) (121,000 ) 211,300 211,300 Weighted average exercise price $ 12.88 $ 10.06 $ 5.98 $ 14.67 $ 10.81 $ 10.81 Weighted average remaining life (years) 2.57 d) Performance Stock Options: During the year ended March 31, 2022, two $25.00 three nine December 31, 2023, 2022 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 9. CAPITAL STOCK AND RESERVE d) Performance Stock Options: Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited/ Expired Balance December 31, 2023 Exercisable March 31, 2024 $ 14.25 15,000 - - - 15,000 - Total 15,000 - - - 15,000 - Weighted average exercise price $ 14.25 - - - $ 14.25 - Weighted average remaining life (years) 0.75 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Forfeited/ Expired Balance March 31, 2023 Exercisable March 31, 2024 $ 14.25 15,000 - - - 15,000 - Total 15,000 - - - 15,000 - Weighted average exercise price $ 14.25 - - - $ 14.25 - Weighted average remaining life (years) 1.25 e) Warrants: A continuity of the warrants granted is as follows: Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled/ Expired Balance December 31, 2023 December 2, 2023 $ 6.50 24,000 - - (24,000 ) - August 24, 2028 USD$6.25 - 800,000 - - 800,000 Total 24,000 800,000 - (24,000 ) 800,000 Weighted average exercise price $ 6.50 USD$6.25 - $ 6.50 USD$6.25 Weighted average remaining life (years) 4.65 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 9. CAPITAL STOCK AND RESERVE e) Warrants: A continuity of the warrants granted is as follows for the year ended March 31, 2023: Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Cancelled/ Expired Balance March 31, 2023 August 28, 2022 $ 3.75 53,778 - (53,778 ) - - August 28, 2022 $ 5.00 121,600 - (121,600 ) - - October 29, 2022 $ 12.50 36,166 - (3,572 ) (32,594 ) - December 15, 2022 $ 5.00 22,000 - (10,000 ) (12,000 ) - December 2, 2023 $ 6.50 47,800 - (23,800 ) - 24,000 Total 281,344 - (212,750 ) (44,594 ) 24,000 Weighted average exercise price $ 5.98 - $ 4.98 $ 10.48 $ 6.50 Weighted average remaining life (years) 0.67 f) Agent warrants: During the period ended December 31, 2023, Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled/ Expired Balance December 31, 2023 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 USD$6.25 - 40,000 - - 40,000 Total 5,765 40,000 - - 45,765 Weighted average exercise price $ 10.00 USD$6.25 - - - Weighted average remaining life (years) 4.13 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 9. CAPITAL STOCK AND RESERVE f) Agent warrants: During the year ended March 31, 2023, Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Cancelled/ Expired Balance March 31, 2023 July 19, 2024 $ 10.00 - 5,765 - - 5,765 Total - 5,765 - - 5,765 Weighted average exercise price - $ 10.00 - - $ 10.00 Weighted average remaining life (years) 1.30 The fair value of agent warrants was calculated using the Black-Scholes option pricing model with the following weighted average assumptions: For the period ended December 31, 2023 For the year ended March 31, 2023 Fair value per agents warrant $ 5.67 $ 3.81 Exercise price USD$6.25 $ 10.00 Expected life (years) 5.00 2.00 Interest rate 4.14 % 3.30 % Annualized volatility (based on historical volatility) 113 % 120 % |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of related party [text block] | 10. RELATED PARTY TRANSACTIONS Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company’s Board of Directors and corporate officers and companies controlled by them. The remuneration of directors and other members of key management personnel during the periods ended December 31, 2023 2022 For the period ended December 31, 2023 Paid or accrued to: Management fees Consulting fees Share-based payments Total Key management personnel: Current and former directors, officers and companies controlled by them $ 434,131 $ 116,123 $ 651,125 $ 1,201,379 FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 10. RELATED PARTY TRANSACTIONS For the period ended December 31, 2022 Paid or accrued to: Management fees Investor relation fees Share-based payments Total Key management personnel: Current and former directors, officers and companies controlled by them $ 270,569 $ 66,530 $ 736,726 $ 1,073,825 Additionally, please refer to Note 7 The amounts due to related parties included in accounts payable and accrued liabilities are unsecured, non-interest bearing, and have no As at December 31, 2023 As at March 31, 2023 Current and former directors, officers and companies controlled by them $ 88,139 $ 112,975 |
Note 11 - Supplemental Disclosu
Note 11 - Supplemental Disclosures With Respect to Cash Flows | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of cash flow statement [text block] | 11. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS During the period ended December 31, 2023, (a) included in accounts payable and accrued liabilities was $341,831 related to exploration and evaluation assets; (b) issued 29,900 common shares with a fair value of $235,600 for the acquisition of exploration and evaluation assets; (c) issued 40,000 underwriter/agent warrants valued at $270,400 for the public Offering in the United States; and (d) issued 30,900 common shares at a value of $187,872 to non-related consulting firm for services. During the period ended December 31, 2022, (a) included in accounts payable and accrued liabilities was $738,624 related to exploration and evaluation assets; (b) included in short-term loans payable $67,717 related to exploration and evaluation assets; and (c) issued 879,732 common shares with a fair value of $152,454 for the acquisition of exploration and evaluation assets. FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 |
Note 12 - Segmented Information
Note 12 - Segmented Information | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of operating segments [text block] | 12. SEGMENTED INFORMATION The Company primarily operates in one reportable operating segment, being the acquisition and exploration of exploration and evaluation assets. Geographic information is as follows: December 31, 2023 March 31, 2023 Exploration and evaluation assets Canada $ 11,511,709 $ 10,713,334 United States 1,782,046 1,706,457 $ 13,293,755 $ 12,477,791 |
Note 13 - Financial Risk Manage
Note 13 - Financial Risk Management | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of financial risk management [text block] | 13. FINANCIAL RISK MANAGEMENT Capital management The Company’s objective when managing capital is to safeguard the entity’s ability to continue as a going concern. In the management of capital, the Company monitors its adjusted capital which comprises all components of equity (i.e., capital stock, reserves and deficit). The Company sets the amount of capital in proportion to risk. The Company manages the capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may not 2024. Fair value Fair value estimates of financial instruments are made at a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair values. Financial instruments measured at fair value are classified into one three three FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 13. FINANCIAL RISK MANAGEMENT Fair value Level 1 Level 2 Level 3 not The fair value of the Company’s long-term investment and derivative liability were calculated using Level 1 The carrying value of cash, accounts payable and accrued liabilities, the current portion of net investment in sublease, lease obligations and short-term loans payable approximate their fair value because of the short-term nature of these instruments. Financial risk factors The Company’s risk exposures and the impact on the Company’s financial instruments are summarized below: Credit risk Credit risk is the risk of loss associated with a counterparty’s inability to fulfill its payment obligations. Financial instruments that potentially subject the Company to a significant concentration of credit risk consists primarily of cash. The Company limits its exposure to credit loss by placing its cash with major Canadian financial institutions and monitors the incoming sublease monthly payments to ensure they are current. Liquidity risk The Company’s approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at December 31, 2023, March 31, 2023 – March 31, 2023 – 30 no Market risk Market risk is the risk of loss that may Interest rate risk The Company has cash balances and no not FOREMOST LITHIUM RESOURCE & TECHNOLOGY LTD. nine December 31, 2023 13. FINANCIAL RISK MANAGEMENT Financial risk factors Foreign currency risk The Company is exposed to foreign currency risk on fluctuations related to cash, accounts payable and accrued liabilities, and option agreement payments that are denominated in a foreign currency. There is a risk in the exchange rate of the Canadian dollar relative to the US dollar and a significant change in this rate could have an effect on the Company’s results of operations, financial position or cash flows. The Company has not Price risk The Company is exposed to price risk with respect to commodity and equity prices. Equity price risk is defined as the potential adverse impact on the Company’s earnings due to movements in individual equity prices or general movements in the level of the stock market. Commodity price risk is defined as the potential adverse impact on earnings and economic value due to commodity price movements and volatilities. The Company closely monitors commodity prices of gold and lithium, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2023 | |
Discloure of Significant Accounting Policies | |
Disclosure of accounting judgements and estimates [text block] | Use of estimates and judgments The preparation of these condensed interim consolidated financial statements in conformity with IFRS requires management to make judgments and estimates and form assumptions that affect each of the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, revenue and expenses. Management uses historical experience and various other factors it believes to be reasonable under the given circumstances as the basis for its judgments and estimates. Actual outcomes may Significant accounting judgments and critical accounting estimates Significant accounting judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the condensed interim consolidated financial statements include, but are not 1. assessment of any indicators of impairment of the carrying value of the Company’s exploration and evaluation assets; 2. the ability of the Company to continue as a going concern; and 3. contingencies which, by their nature, will only be resolved when one |
Description of accounting policy for foreign currency translation [text block] | Foreign currency translation The functional currency for the Company and its subsidiaries is the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated to the functional currency of the entity at the exchange rate in existence at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated at the period end date exchange rates. The functional currency of the Company and its subsidiaries is the Canadian dollar, which is also the presentation currency of these condensed interim consolidated financial statements. |
Disclosure of financial instruments [text block] | Financial instruments IFRS 9 9 The classification of debt instruments is driven by the business model for managing the financial assets, liabilities and their contractual cash flow characteristics. Debt instruments are measured at amortized cost if the business model is to hold the instrument for collection of contractual cash flows and those cash flows are solely principal and interest. If the business model is not The Company classifies its financial assets into one Equity instruments that are held for trading (including all equity derivative instruments) are classified as FVTPL, and on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at fair value through other comprehensive income (“FVTOCI”). FVTPL – Financial assets carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statement of income (loss) and comprehensive income (loss). Realized and unrealized gains and losses arising from changes in the fair value of the financial asset held at FVTPL are included in the statement of income (loss) and comprehensive income (loss) in the period in which they arise. Derivatives are also categorized as FVTPL unless they are designated as hedges. FVTOCI - Investments in equity instruments at FVTOCI are initially recognized at fair value plus transaction costs. Subsequently, they are measured at fair value, with gains and losses arising from changes in fair value recognized in other comprehensive income. There is no Financial assets at amortized cost - A financial asset is measured at amortized cost using the effective interest method if the objective of the business model is to hold the financial asset for the collection of contractual cash flows and the asset's contractual cash flows are comprised solely of payments of principal and interest. They are classified as current assets or non-current assets based on their maturity date and are initially recognized at fair value and subsequently carried at amortized cost less any impairment. Financial liabilities other than derivative liabilities are recognized initially at fair value and are subsequently stated at amortized cost. Transaction costs on financial assets and liabilities other than those classified at FVTPL are treated as part of the carrying value of the asset or liability. Transaction costs for assets and liabilities at FVTPL are expensed as incurred. The following table shows the classification and measurement of the Company’s financial instruments under IFRS 9: Financial assets/liabilities Classification and measurement Cash at amortized cost Long-term investment at FVTPL Net investment in sublease at amortized cost Accounts payable and accrued liabilities at amortized cost Lease obligation at amortized cost Short-term loans payable at amortized cost Derivative liability at FVTPL |
Disclsoure of new accounting standards issued and effective [text block] | New accounting standards issued and effective A number of new standards, and amendments to standards and interpretations, are not not January 1, 2024: Classification of Liabilities as Current or Non-current (Amendments to IAS 1 IAS1 The adoption of this new accounting standard is not |
Note 2 - Basis of Preparation (
Note 2 - Basis of Preparation (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of interests in subsidiaries [text block] | Name of Subsidiary Country of Incorporation Principal Activity Proportion of Ownership Interest December 31, 2023 March 31, 2023 Sierra Gold & Silver Ltd. USA Holding Company 100% 100% Sequoia Gold & Silver Ltd. Canada Holding Company 100% 100% |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of lease obligation [text block] | Lease obligation, March 31, 2022 $ 96,340 Interest expense 9,673 Payments made (71,627 ) Lease obligation, March 31, 2023 34,386 Interest expense 1,427 Payments made (35,813 ) Lease obligation, December 31, 2023 - Current portion - Non-current portion $ - |
Disclosure of net investment in sublease [text block] | Net investment in sublease, March 31, 2022 $ 88,360 Finance income 8,879 Payments received (65,702 ) Net investment in sublease, March 31, 2023 31,537 Finance income 1,314 Payments received (32,851 ) Net investment in sublease, December 31, 2023 - Current portion - Non-current portion $ - |
Note 5 - Exploration and Eval_2
Note 5 - Exploration and Evaluation Assets (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about exploration expenditures [text block] | Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2023 $ 1,909,407 $ 43,500 $ 1,334,548 $ 200,000 $ 150,000 $ 10,454 $ - $ 3,647,909 Cash - 1,755 28,265 100,000 50,000 638 41,553 222,211 Shares - - - 100,000 50,000 - 85,600 235,600 Balance, December 31, 2023 1,909,407 45,255 1,362,813 400,000 250,000 11,092 127,153 4,105,720 Exploration costs Balance, March 31, 2023 4,653,559 596,124 371,909 660,472 2,509,453 38,365 - 8,829,882 Assay - - - 15,188 2,669 - - 17,857 Geological, consulting and other 57,773 83,892 47,324 168,254 78,553 4,500 - 440,296 Exploration cost recovery - - - - (100,000 ) - - (100,000 ) Balance, December 31, 2023 4,711,332 680,016 419,233 843,914 2,490,675 42,865 - 9,188,035 Total Balance, December 31, 2023 $ 6,620,739 $ 725,271 $ 1,782,046 $ 1,243,914 $ 2,740,675 $ 53,957 $ 127,153 $ 13,293,755 Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Total Acquisition costs Balance, March 31, 2022 $ 1,909,407 $ 40,500 $ 1,200,586 $ - $ 50,000 $ - $ 3,200,493 Cash - 3,000 133,962 100,000 50,000 8,000 294,962 Shares - - - 100,000 50,000 2,454 152,454 Balance, March 31, 2023 1,909,407 43,500 1,334,548 200,000 150,000 10,454 3,647,909 Exploration costs Balance, March 31, 2022 3,402,511 - 244,216 - 343,902 - 3,990,629 Assay 805 - - - 496 - 1,301 Drilling 29,084 - - - - - 29,084 Geological, consulting and other 780,155 412,874 127,693 498,213 1,397,541 38,365 3,254,841 Helicopter 441,004 183,250 - 162,259 1,067,514 - 1,854,027 Exploration cost recovery - - - - (300,000 ) - (300,000 ) Balance, March 31, 2023 4,653,559 596,124 371,909 660,472 2,509,453 38,365 8,829,882 Total Balance, March 31, 2023 $ 6,562,966 $ 639,624 $ 1,706,457 $ 860,472 $ 2,659,453 $ 48,819 $ 12,477,791 |
Note 6 - Accounts Payable and_2
Note 6 - Accounts Payable and Accrued Liabilities (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about trade payable and accrued liabilities [text block] | Note December 31, 2023 March 31, 2023 Trade payables $ 168,910 $ 884,741 Advance royalty payable 324,445 313,001 Accrued liabilities 102,450 311,004 Due to related parties 10 88,139 112,975 Total $ 683,944 $ 1,621,721 |
Note 7 - Short-term Loans Pay_2
Note 7 - Short-term Loans Payable (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about short-term loans payable [text block] | December 31, 2023 March 31, 2023 Loan payable on demand, unsecured with 10 $ 5,000 $ 5,000 Loan payable on May 10, 2024, secured, with 11.35 1,133,610 1,143,998 US $ 50,000 - 67,717 $ 1,138,610 $ 1,216,715 |
Note 9 - Capital Stock and Re_2
Note 9 - Capital Stock and Reserve (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of number and weighted average exercise prices of share options [text block] | Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited/ Expired Balance December 31, 2023 Exercisable March 1, 2024 $ 16.50 15,000 - - - 15,000 15,000 November 14, 2024 $ 3.65 - 36,000 (36,000 ) - - - March 8, 2025 $ 15.50 4,000 - - - 4,000 4,000 September 2, 2025 $ 12.75 20,000 - - - 20,000 20,000 September 6, 2025 $ 13.75 8,000 - - - 8,000 8,000 November 20, 2025 $ 4.00 6,000 - - - 6,000 6,000 December 2, 2025 $ 9.00 62,000 - - - 62,000 62,000 December 13, 2025 $ 9.50 31,000 - - (10,000 ) 21,000 21,000 January 15, 2026 $ 7.25 35,300 - - - 35,300 35,300 August 25, 2026 $ 5.65 - 17,500 - - 17,500 17,500 September 6, 2026 $ 6.60 - 40,000 - - 40,000 40,000 November 1, 2026 $ 7.50 10,000 - - - 10,000 10,000 December 4, 2026 $ 5.47 - 20,000 - - 20,000 20,000 February 16, 2027 $ 17.50 20,000 - - (20,000 ) - - September 6, 2028 $ 6.60 - 85,000 - - 85,000 85,000 Total 211,300 198,500 (36,000 ) (30,000 ) 343,800 343,800 Weighted average exercise price $ 10.81 $ 5.87 $ 3.65 $ 14.83 $ 8.46 $ 8.46 Weighted average remaining life (years) 2.61 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Forfeited/ Expired Balance March 31, 2023 Exercisable January 4, 2023 $ 14.25 105,000 - - (105,000 ) - - March 1, 2024 $ 16.50 15,000 - - - 15,000 15,000 March 8, 2025 $ 15.50 4,000 - - - 4,000 4,000 September 2, 2025 $ 12.75 - 20,000 - - 20,000 20,000 September 6, 2025 $ 13.75 - 8,000 - - 8,000 8,000 November 20, 2025 $ 4.00 8,000 - (2,000 ) - 6,000 6,000 December 2, 2025 $ 9.00 - 62,000 - - 62,000 62,000 December 13, 2025 $ 9.50 - 31,000 - - 31,000 31,000 January 15, 2026 $ 7.25 41,300 - (6,000 ) - 35,300 35,300 October 21, 2026 $ 5.25 5,000 - (5,000 ) - - - November 1, 2026 $ 7.50 10,000 - - - 10,000 10,000 December 3, 2026 $ 12.50 6,000 - - (6,000 ) - - January 17, 2027 $ 20.50 10,000 - - (10,000 ) - - February 16, 2027 $ 17.50 20,000 - - - 20,000 20,000 Total 224,300 121,000 (13,000 ) (121,000 ) 211,300 211,300 Weighted average exercise price $ 12.88 $ 10.06 $ 5.98 $ 14.67 $ 10.81 $ 10.81 Weighted average remaining life (years) 2.57 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited/ Expired Balance December 31, 2023 Exercisable March 31, 2024 $ 14.25 15,000 - - - 15,000 - Total 15,000 - - - 15,000 - Weighted average exercise price $ 14.25 - - - $ 14.25 - Weighted average remaining life (years) 0.75 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Forfeited/ Expired Balance March 31, 2023 Exercisable March 31, 2024 $ 14.25 15,000 - - - 15,000 - Total 15,000 - - - 15,000 - Weighted average exercise price $ 14.25 - - - $ 14.25 - Weighted average remaining life (years) 1.25 |
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block] | Weighted Average for the period ended December 31, 2023 Weighted Average for the year ended March 31, 2023 Fair value per option $ 4.07 $ 6.00 Exercise price $ 5.87 $ 11.00 Expected life (years) 3.50 3.00 Interest rate 4.22 % 3.49 % Annualized volatility (based on historical volatility) 109 % 118 % Dividend yield 0.00 % 0.00 % |
Disclosure of detailed information about warrant transactions [text block] | Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled/ Expired Balance December 31, 2023 December 2, 2023 $ 6.50 24,000 - - (24,000 ) - August 24, 2028 USD$6.25 - 800,000 - - 800,000 Total 24,000 800,000 - (24,000 ) 800,000 Weighted average exercise price $ 6.50 USD$6.25 - $ 6.50 USD$6.25 Weighted average remaining life (years) 4.65 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Cancelled/ Expired Balance March 31, 2023 August 28, 2022 $ 3.75 53,778 - (53,778 ) - - August 28, 2022 $ 5.00 121,600 - (121,600 ) - - October 29, 2022 $ 12.50 36,166 - (3,572 ) (32,594 ) - December 15, 2022 $ 5.00 22,000 - (10,000 ) (12,000 ) - December 2, 2023 $ 6.50 47,800 - (23,800 ) - 24,000 Total 281,344 - (212,750 ) (44,594 ) 24,000 Weighted average exercise price $ 5.98 - $ 4.98 $ 10.48 $ 6.50 Weighted average remaining life (years) 0.67 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled/ Expired Balance December 31, 2023 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 USD$6.25 - 40,000 - - 40,000 Total 5,765 40,000 - - 45,765 Weighted average exercise price $ 10.00 USD$6.25 - - - Weighted average remaining life (years) 4.13 Expiry Date Exercise Price Balance March 31, 2022 Granted Exercised Cancelled/ Expired Balance March 31, 2023 July 19, 2024 $ 10.00 - 5,765 - - 5,765 Total - 5,765 - - 5,765 Weighted average exercise price - $ 10.00 - - $ 10.00 Weighted average remaining life (years) 1.30 |
Agent warrants [member] | |
Statement Line Items [Line Items] | |
Disclosure of indirect measurement of fair value of warrants granted during period [text block] | For the period ended December 31, 2023 For the year ended March 31, 2023 Fair value per agents warrant $ 5.67 $ 3.81 Exercise price USD$6.25 $ 10.00 Expected life (years) 5.00 2.00 Interest rate 4.14 % 3.30 % Annualized volatility (based on historical volatility) 113 % 120 % |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of transaction with key management personnel [text block] | For the period ended December 31, 2023 Paid or accrued to: Management fees Consulting fees Share-based payments Total Key management personnel: Current and former directors, officers and companies controlled by them $ 434,131 $ 116,123 $ 651,125 $ 1,201,379 For the period ended December 31, 2022 Paid or accrued to: Management fees Investor relation fees Share-based payments Total Key management personnel: Current and former directors, officers and companies controlled by them $ 270,569 $ 66,530 $ 736,726 $ 1,073,825 |
Disclosure of transactions between related parties [text block] | As at December 31, 2023 As at March 31, 2023 Current and former directors, officers and companies controlled by them $ 88,139 $ 112,975 |
Note 12 - Segmented Informati_2
Note 12 - Segmented Information (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Disclosure of geographical areas [text block] | December 31, 2023 March 31, 2023 Exploration and evaluation assets Canada $ 11,511,709 $ 10,713,334 United States 1,782,046 1,706,457 $ 13,293,755 $ 12,477,791 |
Note 1 - Nature and Continuan_2
Note 1 - Nature and Continuance of Operations (Details Textual) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement Line Items [Line Items] | ||
Total retained earnings | $ (20,820,828) | $ (17,869,111) |
Working capital deficiency | $ (1,992) | $ (2,117,473) |
Note 2 - Basis of Preparation -
Note 2 - Basis of Preparation - Ownership Interests (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Mar. 31, 2023 | |
Sierra Gold & Silver Ltd. [member] | ||
Statement Line Items [Line Items] | ||
Sierra Gold & Silver Ltd. | 100% | 100% |
Sequoia Gold & Silver Ltd. [member] | ||
Statement Line Items [Line Items] | ||
Sierra Gold & Silver Ltd. | 100% | 100% |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - CAD ($) | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | Apr. 01, 2019 | |
Statement Line Items [Line Items] | ||||
Interest expense on lease liabilities | $ 1,427 | $ 8,097 | $ 9,673 | |
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16 | 15% | |||
Gain (loss) on sublease recognized | 2,962 | 4,295 | ||
Finance income on net investment in finance lease | $ 1,314 | $ 7,432 | $ 8,879 |
Note 4 - Leases - Lease Obligat
Note 4 - Leases - Lease Obligations (Details) - CAD ($) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Statement Line Items [Line Items] | |||
Lease obligation | $ 34,386 | $ 96,340 | $ 96,340 |
Interest expense | 1,427 | $ 8,097 | 9,673 |
Payments made | (35,813) | (71,627) | |
Lease obligation | 0 | 34,386 | |
Current portion | 0 | $ (34,386) | |
Non-current portion | $ 0 |
Note 4 - Leases - Sublease Inve
Note 4 - Leases - Sublease Investment (Details) - CAD ($) | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Statement Line Items [Line Items] | |||
Net investment in sublease | $ 31,537 | $ 88,360 | $ 88,360 |
Finance income on net investment in finance lease | 1,314 | $ 7,432 | 8,879 |
Payments received | (32,851) | (65,702) | |
Net investment in sublease | 0 | $ 31,537 | |
Current portion | 0 | ||
Non-current portion | $ 0 |
Note 5 - Exploration and Eval_3
Note 5 - Exploration and Evaluation Assets (Details Textual) | 3 Months Ended | 7 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 21 Months Ended | 24 Months Ended | 29 Months Ended | 36 Months Ended | 43 Months Ended | 48 Months Ended | 62 Months Ended | |||||||||||||||||||||||||||||||||||||||
Jun. 09, 2023 CAD ($) | Oct. 01, 2022 CAD ($) | Jun. 23, 2022 CAD ($) | Oct. 01, 2021 CAD ($) | Aug. 01, 2021 CAD ($) | Jul. 30, 2021 CAD ($) | Oct. 01, 2020 CAD ($) | Jul. 15, 2020 CAD ($) | Jul. 15, 2019 CAD ($) | Jul. 15, 2018 CAD ($) | Mar. 31, 2018 CAD ($) | Jul. 15, 2017 CAD ($) | Nov. 15, 2014 CAD ($) | Jun. 01, 2016 CAD ($) | Nov. 14, 2014 CAD ($) | Dec. 31, 2023 CAD ($) | Dec. 31, 2022 CAD ($) | Jun. 10, 2027 CAD ($) | Jun. 09, 2027 CAD ($) | Jun. 09, 2026 CAD ($) | Jul. 30, 2025 CAD ($) | Jun. 09, 2025 CAD ($) | Jul. 30, 2024 CAD ($) | Jun. 09, 2024 CAD ($) | Dec. 31, 2023 CAD ($) | Jul. 30, 2023 CAD ($) | Mar. 31, 2023 CAD ($) | Jul. 30, 2022 CAD ($) | Jul. 30, 2022 CAD ($) | Mar. 31, 2022 CAD ($) | Mar. 31, 2018 CAD ($) | Jun. 01, 2017 CAD ($) | Mar. 31, 2017 CAD ($) | Mar. 31, 2015 CAD ($) | Feb. 28, 2016 CAD ($) | Dec. 31, 2023 CAD ($) | Jul. 30, 2023 CAD ($) | Jun. 01, 2017 CAD ($) | Jul. 30, 2024 CAD ($) | Oct. 17, 2016 CAD ($) | Jul. 30, 2025 CAD ($) | Jun. 09, 2027 CAD ($) | Mar. 31, 2023 USD ($) | Oct. 18, 2018 | Oct. 17, 2018 | Oct. 17, 2017 | Feb. 26, 2016 CAD ($) | Oct. 17, 2015 | Jan. 15, 2015 | Oct. 17, 2014 | Mar. 31, 2014 | |
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 222,211 | $ 0 | $ 294,962 | ||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 235,600 | 152,454 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accrued royalty payments outstanding | $ 324,445 | $ 324,445 | 313,001 | $ 324,445 | |||||||||||||||||||||||||||||||||||||||||||||||
Zoro I [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 150,000 | $ 150,000 | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 140,000 | 140,000 | 20,000 | 140,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 635,000 | $ 635,000 | $ 135,000 | $ 635,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Zoro North [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 250,000 | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 52,656 | 52,656 | 52,656 | ||||||||||||||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 250,000 | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | 2% | ||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, percentage of NSR to be acquired | 50% | 50% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Manitoba Lithium [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 250,000 | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 54,494 | 54,494 | 54,494 | ||||||||||||||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 250,000 | $ 250,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | 2% | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, percentage of NSR to be acquired | 50% | 50% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | 1% | 1% | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Grass River Property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 1,755 | 3,000 | $ 40,500 | ||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Peg North Property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 13,072 | 10,526 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | |||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | 843,914 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | 1% | |||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 100,000 | $ 100,000 | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 100,000 | $ 100,000 | 100,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Peg North Property [member] | Major purchases of assets [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 150,000 | $ 150,000 | $ 150,000 | $ 100,000 | 750,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 150,000 | $ 150,000 | $ 150,000 | $ 100,000 | $ 750,000 | ||||||||||||||||||||||||||||||||||||||||||||||
Winston Property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | 100% | 50% | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 380,000 | $ 315,205 | $ 315,205 | $ 315,205 | |||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 50,000 | 50,000 | 10,000 | 50,000 | 10,000 | 10,000 | 2,000 | 10,000 | 6,000 | 10,000 | 30,000 | ||||||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 275,000 | $ 275,000 | $ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | 2% | ||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 19,000 | $ 19,000 | $ 19,000 | $ 12,000 | $ 12,000 | $ 12,000 | 6,000 | $ 12,000 | $ 13,750 | $ 40,000 | $ 81,250 | $ 28,265 | $ 184,795 | $ 133,962 | 35,000 | $ 40,000 | $ 25,000 | $ 40,000 | $ 120,000 | ||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accrued royalty payments outstanding | 244,925 | 244,925 | $ 244,925 | $ 231,125 | |||||||||||||||||||||||||||||||||||||||||||||||
Notes and debentures issued | $ 50,000 | $ 50,000 | $ 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, ownership interest after exercise | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Non-refundable deposits paid | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, additional interest to acquire | 30% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Jean Lake Property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 5,000 | 6,128 | 6,704 | 6,704 | 6,128 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 25,000 | 50,000 | 50,000 | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 25,000 | 50,000 | 50,000 | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Jean Lake Property [member] | Major purchases of assets [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 100,000 | $ 150,000 | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 75,000 | $ 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 75,000 | $ 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jean Lake and Zoro Lithium properties [member] | Government grant agreement one [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Government grant agreement | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from government grants | 100,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Jean Lake and Zoro Lithium properties [member] | Government grant agreement two [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Government grant agreement | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from government grants | $ 100,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Lac Simard South property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 35,000 | $ 35,000 | $ 35,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 10,700 | 10,700 | 10,700 | ||||||||||||||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 85,600 | $ 85,600 | $ 85,600 | ||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 41,553 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 85,600 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Jol Lithium Property [member] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 8,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 364 | 364 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | |||||||||||||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 638 | $ 8,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 0 | $ 2,454 |
Note 5 - Exploration and Eval_4
Note 5 - Exploration and Evaluation Assets - Exploration Expenditures (Details) - CAD ($) | 3 Months Ended | 7 Months Ended | 9 Months Ended | 12 Months Ended | 13 Months Ended | 29 Months Ended | |||||||||||||||||||
Jun. 09, 2023 | Oct. 01, 2022 | Jun. 23, 2022 | Oct. 01, 2021 | Aug. 01, 2021 | Oct. 01, 2020 | Jul. 15, 2020 | Jul. 15, 2019 | Jul. 15, 2018 | Mar. 31, 2018 | Jul. 15, 2017 | Nov. 15, 2014 | Jun. 01, 2016 | Nov. 14, 2014 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Mar. 31, 2023 | Jul. 30, 2022 | Mar. 31, 2022 | Mar. 31, 2018 | Jun. 01, 2017 | Mar. 31, 2017 | Feb. 28, 2016 | Jun. 01, 2017 | |
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | $ 3,647,909 | $ 3,200,493 | $ 3,200,493 | ||||||||||||||||||||||
Cash | 222,211 | 0 | 294,962 | ||||||||||||||||||||||
Shares | 235,600 | 152,454 | |||||||||||||||||||||||
Balance | 4,105,720 | $ 4,105,720 | 3,647,909 | $ 3,200,493 | |||||||||||||||||||||
Balance | 8,829,882 | 3,990,629 | 3,990,629 | ||||||||||||||||||||||
Assay | 17,857 | 1,301 | |||||||||||||||||||||||
Geological, consulting and other | 440,296 | 3,254,841 | |||||||||||||||||||||||
Exploration cost recovery | (100,000) | (300,000) | |||||||||||||||||||||||
Balance | 9,188,035 | 9,188,035 | 8,829,882 | 3,990,629 | |||||||||||||||||||||
Total Balance | 13,293,755 | 13,293,755 | 12,477,791 | ||||||||||||||||||||||
Drilling | 29,084 | ||||||||||||||||||||||||
Helicopter | 1,854,027 | ||||||||||||||||||||||||
Zoro property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 1,909,407 | 1,909,407 | 1,909,407 | ||||||||||||||||||||||
Cash | 0 | 0 | |||||||||||||||||||||||
Shares | 0 | 0 | |||||||||||||||||||||||
Balance | 1,909,407 | 1,909,407 | 1,909,407 | 1,909,407 | |||||||||||||||||||||
Balance | 4,653,559 | 3,402,511 | 3,402,511 | ||||||||||||||||||||||
Assay | 0 | 805 | |||||||||||||||||||||||
Geological, consulting and other | 57,773 | 780,155 | |||||||||||||||||||||||
Exploration cost recovery | 0 | 0 | |||||||||||||||||||||||
Balance | 4,711,332 | 4,711,332 | 4,653,559 | 3,402,511 | |||||||||||||||||||||
Total Balance | 6,620,739 | 6,620,739 | 6,562,966 | ||||||||||||||||||||||
Drilling | 29,084 | ||||||||||||||||||||||||
Helicopter | 441,004 | ||||||||||||||||||||||||
Grass River Property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 43,500 | 40,500 | 40,500 | ||||||||||||||||||||||
Cash | 1,755 | 3,000 | 40,500 | ||||||||||||||||||||||
Shares | 0 | 0 | |||||||||||||||||||||||
Balance | 45,255 | 45,255 | 43,500 | 40,500 | |||||||||||||||||||||
Balance | 596,124 | 0 | 0 | ||||||||||||||||||||||
Assay | 0 | 0 | |||||||||||||||||||||||
Geological, consulting and other | 83,892 | 412,874 | |||||||||||||||||||||||
Exploration cost recovery | 0 | 0 | |||||||||||||||||||||||
Balance | 680,016 | 680,016 | 596,124 | 0 | |||||||||||||||||||||
Total Balance | 725,271 | 725,271 | 639,624 | ||||||||||||||||||||||
Drilling | 0 | ||||||||||||||||||||||||
Helicopter | 183,250 | ||||||||||||||||||||||||
Winston Property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 1,334,548 | 1,200,586 | 1,200,586 | ||||||||||||||||||||||
Cash | $ 19,000 | $ 19,000 | $ 19,000 | $ 12,000 | $ 12,000 | $ 12,000 | $ 6,000 | $ 12,000 | $ 13,750 | $ 40,000 | $ 81,250 | 28,265 | 184,795 | 133,962 | $ 35,000 | $ 40,000 | $ 25,000 | $ 40,000 | $ 120,000 | ||||||
Shares | 0 | 0 | |||||||||||||||||||||||
Balance | 1,362,813 | 1,362,813 | 1,334,548 | 1,200,586 | |||||||||||||||||||||
Balance | 371,909 | 244,216 | 244,216 | ||||||||||||||||||||||
Assay | 0 | 0 | |||||||||||||||||||||||
Geological, consulting and other | 47,324 | 127,693 | |||||||||||||||||||||||
Exploration cost recovery | 0 | 0 | |||||||||||||||||||||||
Balance | 419,233 | 419,233 | 371,909 | 244,216 | |||||||||||||||||||||
Total Balance | 1,782,046 | 1,782,046 | 1,706,457 | ||||||||||||||||||||||
Drilling | 0 | ||||||||||||||||||||||||
Helicopter | 0 | ||||||||||||||||||||||||
Peg North Property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 200,000 | 0 | 0 | ||||||||||||||||||||||
Cash | $ 100,000 | $ 100,000 | 100,000 | 100,000 | |||||||||||||||||||||
Shares | $ 100,000 | $ 100,000 | 100,000 | 100,000 | |||||||||||||||||||||
Balance | 400,000 | 400,000 | 200,000 | 0 | |||||||||||||||||||||
Balance | 660,472 | 0 | 0 | ||||||||||||||||||||||
Assay | 15,188 | 0 | |||||||||||||||||||||||
Geological, consulting and other | 168,254 | 498,213 | |||||||||||||||||||||||
Exploration cost recovery | 0 | 0 | |||||||||||||||||||||||
Balance | 843,914 | 843,914 | 660,472 | 0 | |||||||||||||||||||||
Total Balance | 1,243,914 | 1,243,914 | 860,472 | ||||||||||||||||||||||
Drilling | 0 | ||||||||||||||||||||||||
Helicopter | 162,259 | ||||||||||||||||||||||||
Jean Lake Property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 150,000 | 50,000 | 50,000 | ||||||||||||||||||||||
Cash | $ 25,000 | 50,000 | 50,000 | $ 50,000 | |||||||||||||||||||||
Shares | $ 25,000 | 50,000 | 50,000 | $ 50,000 | |||||||||||||||||||||
Balance | 250,000 | 250,000 | 150,000 | 50,000 | |||||||||||||||||||||
Balance | 2,509,453 | 343,902 | 343,902 | ||||||||||||||||||||||
Assay | 2,669 | 496 | |||||||||||||||||||||||
Geological, consulting and other | 78,553 | 1,397,541 | |||||||||||||||||||||||
Exploration cost recovery | (100,000) | (300,000) | |||||||||||||||||||||||
Balance | 2,490,675 | 2,490,675 | 2,509,453 | 343,902 | |||||||||||||||||||||
Total Balance | 2,740,675 | 2,740,675 | 2,659,453 | ||||||||||||||||||||||
Drilling | 0 | ||||||||||||||||||||||||
Helicopter | 1,067,514 | ||||||||||||||||||||||||
Jol Lithium Property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 10,454 | 0 | 0 | ||||||||||||||||||||||
Cash | 638 | 8,000 | |||||||||||||||||||||||
Shares | 0 | 2,454 | |||||||||||||||||||||||
Balance | 11,092 | 11,092 | 10,454 | 0 | |||||||||||||||||||||
Balance | 38,365 | $ 0 | 0 | ||||||||||||||||||||||
Assay | 0 | 0 | |||||||||||||||||||||||
Geological, consulting and other | 4,500 | 38,365 | |||||||||||||||||||||||
Exploration cost recovery | 0 | 0 | |||||||||||||||||||||||
Balance | 42,865 | 42,865 | 38,365 | $ 0 | |||||||||||||||||||||
Total Balance | 53,957 | 53,957 | 48,819 | ||||||||||||||||||||||
Drilling | 0 | ||||||||||||||||||||||||
Helicopter | 0 | ||||||||||||||||||||||||
Lac Simard South property [member] | |||||||||||||||||||||||||
Statement Line Items [Line Items] | |||||||||||||||||||||||||
Balance | 0 | ||||||||||||||||||||||||
Cash | 41,553 | ||||||||||||||||||||||||
Shares | 85,600 | ||||||||||||||||||||||||
Balance | 127,153 | 127,153 | 0 | ||||||||||||||||||||||
Balance | 0 | ||||||||||||||||||||||||
Assay | 0 | ||||||||||||||||||||||||
Geological, consulting and other | 0 | ||||||||||||||||||||||||
Exploration cost recovery | 0 | ||||||||||||||||||||||||
Balance | 0 | 0 | $ 0 | ||||||||||||||||||||||
Total Balance | $ 127,153 | $ 127,153 |
Note 6 - Accounts Payable and_3
Note 6 - Accounts Payable and Accrued Liabilities (Details Textual) - CAD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Mar. 31, 2023 | |
Statement Line Items [Line Items] | ||
Write-off of trade payables | $ 0 | $ 184,813 |
Gain (loss) on forgiveness of debt | $ 184,813 |
Note 6 - Accounts Payable and_4
Note 6 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement Line Items [Line Items] | ||
Trade payables | $ 168,910 | $ 884,741 |
Advance royalty payable | 324,445 | 313,001 |
Accrued liabilities | 102,450 | 311,004 |
Due to related parties | 88,139 | 112,975 |
Total | $ 683,944 | $ 1,621,721 |
Note 7 - Short-term Loans Pay_3
Note 7 - Short-term Loans Payable (Details Textual) - CAD ($) | 6 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | May 01, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statement Line Items [Line Items] | ||||||
Interest paid | $ 104,579 | $ 0 | ||||
Loan agreement with related party [member] | ||||||
Statement Line Items [Line Items] | ||||||
Total borrowings | $ 1,145,520 | $ 145,520 | ||||
Borrowings, interest rate | 11.35% | 8.35% | ||||
Interest paid | $ 45,134 | $ 94,191 |
Note 7 - Short-term Loans Pay_4
Note 7 - Short-term Loans Payable - Short-term Loans Payable (Details) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement Line Items [Line Items] | ||
Short-term loans payable | $ 1,138,610 | $ 1,216,715 |
Loan payable on demand, unsecured with 10% interest per annum and no fixed term [member] | ||
Statement Line Items [Line Items] | ||
Short-term loans payable | 5,000 | 5,000 |
Loan payable on May 10, 2024, secured, with 11.35% interest per annum [member] | ||
Statement Line Items [Line Items] | ||
Short-term loans payable | 1,133,610 | 1,143,998 |
US $50,000 promissory note [member] | ||
Statement Line Items [Line Items] | ||
Short-term loans payable | $ 0 | $ 67,717 |
Note 7 - Short-term Loans Pay_5
Note 7 - Short-term Loans Payable - Short-term Loans Payable (Details) (Parentheticals) | Mar. 31, 2023 CAD ($) |
Loan payable on demand, unsecured with 10% interest per annum and no fixed term [member] | |
Statement Line Items [Line Items] | |
Borrowings, interest rate | 10% |
Loan payable on May 10, 2024, secured, with 11.35% interest per annum [member] | |
Statement Line Items [Line Items] | |
Borrowings, interest rate | 11.35% |
US $50,000 promissory note [member] | |
Statement Line Items [Line Items] | |
Borrowings, face amount | $ 50,000 |
Note 8 - Loans Payable (Details
Note 8 - Loans Payable (Details Textual) | Mar. 31, 2021 CAD ($) |
Canada Emergency Business Account loan [member] | |
Statement Line Items [Line Items] | |
Total borrowings | $ 40,000 |
Note 9 - Capital Stock and Re_3
Note 9 - Capital Stock and Reserve (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Aug. 22, 2023 CAD ($) $ / shares shares | Aug. 22, 2023 USD ($) $ / shares shares | Dec. 31, 2023 CAD ($) $ / shares | Mar. 31, 2023 CAD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2023 CAD ($) $ / shares shares | Dec. 31, 2022 CAD ($) | Mar. 31, 2023 CAD ($) $ / shares shares | Mar. 31, 2022 CAD ($) $ / shares | |
Statement Line Items [Line Items] | |||||||||
Total gains (losses) on financial liabilities at fair value through profit or loss | $ 372,285 | $ 0 | $ 558,663 | $ 0 | |||||
Payments for share issue costs | 387,416 | 99,624 | |||||||
Total equity | $ 13,046,573 | $ 10,387,622 | $ 10,689,324 | $ 13,046,573 | 10,689,324 | $ 10,387,622 | $ 6,741,746 | ||
Increase (decrease) in number of shares outstanding, issued for services (in shares) | shares | 30,900 | ||||||||
Issue of equity, shares issued for services | $ 187,872 | ||||||||
Number of share options exercised in share-based payment arrangement | 36,000 | 13,000 | |||||||
Proceeds from exercise of options | $ 131,400 | 77,750 | |||||||
Increase (decrease) through exercise of options, equity | 0 | $ 131,400 | 77,750 | ||||||
Number of share options granted in share-based payment arrangement | 198,500 | 121,000 | |||||||
Number of share options forfeited in share-based payment arrangement | 30,000 | 121,000 | |||||||
Number of warrants issued during the period (in shares) | shares | 5,765 | ||||||||
Common shares [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options exercised in share-based payment arrangement | 36,000 | ||||||||
Proceeds from exercise of options | $ 131,400 | ||||||||
Increase (decrease) through exercise of options, equity | $ 53,400 | ||||||||
Exercise price of outstanding share options (in CAD per share) | $ / shares | $ 4.95 | $ 4.95 | |||||||
Share options 1 [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Maximum percentage of outstanding stock allowed under share-based payment arrangement | 10% | 10% | |||||||
Options issued to consultant one [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 17,500 | 20,000 | |||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 5.65 | $ 12.75 | |||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | 3 years | |||||||
Share-based payment arrangement, options, fair value | $ 60,200 | 198,300 | $ 60,200 | $ 198,300 | |||||
Options issued to directors and a consultant [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 40,000 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 6.6 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | 173,500 | $ 173,500 | |||||||
Options issued to officers [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 85,000 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 6.6 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 5 years | ||||||||
Share-based payment arrangement, options, fair value | 445,500 | $ 445,500 | |||||||
Options issued to consultant two [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 36,000 | 8,000 | |||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 3.65 | $ 13.75 | |||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | 53,400 | 83,200 | $ 53,400 | $ 83,200 | |||||
Options Issued to Director [Member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 20,000 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 5.47 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | 75,500 | $ 75,500 | |||||||
Options issued to consultant three [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 62,000 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 9 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | 395,600 | $ 395,600 | |||||||
options issued to consultant four [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 31,000 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 9.5 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | $ 208,600 | $ 208,600 | |||||||
Consultant options [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options forfeited in share-based payment arrangement | 121,000 | ||||||||
Share-based arrangement, payment reserve, forfeited | $ 891,400 | ||||||||
Options issued to consultant seven [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 15,000 | ||||||||
Performance stock options [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 14.25 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 2 years | ||||||||
Fair value of share options granted in share-based payment arrangement | $ 126,297 | ||||||||
Share-based payment arrangement, award vesting percentage | 100% | ||||||||
Total expense from share-based payment transactions | $ 47,361 | $ 47,361 | |||||||
Performance Share Units (PSU) [member] | Company director [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 40,000 | ||||||||
Lac Simard South property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Increase (decrease) in number of shares outstanding, exploration and evaluation assets option agreement (in shares) | shares | 10,700 | ||||||||
Increase (decrease) in equity, evaluation and exploration assets option agreement | $ 85,600 | ||||||||
Peg North Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Increase (decrease) in number of shares outstanding, exploration and evaluation assets option agreement (in shares) | shares | 13,072 | ||||||||
Increase (decrease) in equity, evaluation and exploration assets option agreement | $ 100,000 | ||||||||
Jean Lake Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Increase (decrease) in number of shares outstanding, exploration and evaluation assets option agreement (in shares) | shares | 6,128 | ||||||||
Increase (decrease) in equity, evaluation and exploration assets option agreement | $ 50,000 | ||||||||
Warrants issued in public offering [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, number of securities called by each warrant or right (in shares) | shares | 1 | ||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 6.25 | ||||||||
Warrants and rights outstanding, term (Year) | 5 years | 5 years | |||||||
Derivative financial liabilities | $ 823,597 | $ 264,934 | 264,934 | ||||||
Total gains (losses) on financial liabilities at fair value through profit or loss | $ 558,663 | ||||||||
Underwriter warrants [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, granted (in shares) | shares | 40,000 | 40,000 | 40,000 | ||||||
Total equity | $ 270,400 | ||||||||
Shares issued in public offering [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Total increase (decrease) in number of shares outstanding (in shares) | shares | 800,000 | 800,000 | |||||||
Number of warrants per unit (in shares) | shares | 1 | ||||||||
Number of common shares per unit (in shares) | shares | 1 | ||||||||
Shares issued, price per share (in CAD per share) | (per share) | $ 6.77 | $ 5 | |||||||
Proceeds from issuing shares | $ 5,418,400 | $ 4,000,000 | |||||||
Payments for share issue costs | $ 387,416 | $ 286,000 |
Note 9 - Capital Stock and Re_4
Note 9 - Capital Stock and Reserve - Stock Option Transactions (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 $ / shares | Mar. 31, 2023 $ / shares | |
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 5.87 | $ 10.06 |
Share options, balance | 211,300 | 224,300 |
Share options, granted | 198,500 | 121,000 |
Share options, exercised | (36,000) | (13,000) |
Share options, forfeited | (30,000) | (121,000) |
Share options, balance | 343,800 | 211,300 |
Share options, exercisable | 343,800 | 211,300 |
Weighted average exercise price, balance (in CAD per share) | $ 10.81 | $ 12.88 |
Weighted average exercise price, exercised (in CAD per share) | 3.65 | 5.98 |
Weighted average exercise price, forfeited (in CAD per share) | 14.83 | 14.67 |
Weighted average exercise price, balance (in CAD per share) | 8.46 | 10.81 |
Weighted average exercise price, exercisable (in CAD per share) | $ 8.46 | $ 10.81 |
Weighted average remaining life (years) (Year) | 2 years 7 months 9 days | 2 years 6 months 25 days |
Performance stock options [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 0 | $ 0 |
Share options, balance | 15,000 | 15,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 15,000 | 15,000 |
Share options, exercisable | 0 | 0 |
Weighted average exercise price, balance (in CAD per share) | $ 14.25 | $ 14.25 |
Weighted average exercise price, balance (in CAD per share) | $ 14.25 | $ 14.25 |
Weighted average remaining life (years) (Year) | 9 months | 1 year 3 months |
Stock options expiring March 1, 2024 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 16.5 | $ 16.5 |
Share options, balance | 15,000 | 15,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 15,000 | 15,000 |
Share options, exercisable | 15,000 | 15,000 |
Stock options expiring January 4, 2023 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 14.25 | |
Share options, balance | 0 | 105,000 |
Share options, granted | 0 | |
Share options, exercised | 0 | |
Share options, forfeited | (105,000) | |
Share options, balance | 0 | |
Share options, exercisable | 0 | |
Stock options expiring March 31, 2024 [member] | Performance stock options [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 14.25 | $ 14.25 |
Share options, balance | 15,000 | 15,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 15,000 | 15,000 |
Share options, exercisable | 0 | 0 |
Stock Options Expiring November 14, 2024 [Member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 3.65 | |
Share options, balance | 0 | |
Share options, granted | 36,000 | |
Share options, exercised | (36,000) | |
Share options, forfeited | 0 | |
Share options, balance | 0 | 0 |
Share options, exercisable | 0 | |
Stock options expiring March 8, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 15.5 | $ 15.5 |
Share options, balance | 4,000 | 4,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 4,000 | 4,000 |
Share options, exercisable | 4,000 | 4,000 |
Stock options expiring September 2, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 12.75 | $ 12.75 |
Share options, balance | 20,000 | 0 |
Share options, granted | 0 | 20,000 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 20,000 | 20,000 |
Share options, exercisable | 20,000 | 20,000 |
Stock options expiring September 6, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 13.75 | $ 13.75 |
Share options, balance | 8,000 | 0 |
Share options, granted | 0 | 8,000 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 8,000 | 8,000 |
Share options, exercisable | 8,000 | 8,000 |
Stock options expiring November 20, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 4 | $ 4 |
Share options, balance | 6,000 | 8,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | (2,000) |
Share options, forfeited | 0 | 0 |
Share options, balance | 6,000 | 6,000 |
Share options, exercisable | 6,000 | 6,000 |
Stock options expiring December 2, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 9 | $ 9 |
Share options, balance | 62,000 | 0 |
Share options, granted | 0 | 62,000 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 62,000 | 62,000 |
Share options, exercisable | 62,000 | 62,000 |
Stock options expiring December 13, 2025 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 9.5 | $ 9.5 |
Share options, balance | 31,000 | 0 |
Share options, granted | 0 | 31,000 |
Share options, exercised | 0 | 0 |
Share options, forfeited | (10,000) | 0 |
Share options, balance | 21,000 | 31,000 |
Share options, exercisable | 21,000 | 31,000 |
Stock options expiring January 15, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 7.25 | $ 7.25 |
Share options, balance | 35,300 | 41,300 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | (6,000) |
Share options, forfeited | 0 | 0 |
Share options, balance | 35,300 | 35,300 |
Share options, exercisable | 35,300 | 35,300 |
Stock options expiring August 25, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 5.65 | |
Share options, balance | 0 | |
Share options, granted | 17,500 | |
Share options, exercised | 0 | |
Share options, forfeited | 0 | |
Share options, balance | 17,500 | 0 |
Share options, exercisable | 17,500 | |
Stock options expiring October 21, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 5.25 | |
Share options, balance | 0 | 5,000 |
Share options, granted | 0 | |
Share options, exercised | (5,000) | |
Share options, forfeited | 0 | |
Share options, balance | 0 | |
Share options, exercisable | 0 | |
Stock options expiring September 6, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 6.6 | |
Share options, balance | 0 | |
Share options, granted | 40,000 | |
Share options, exercised | 0 | |
Share options, forfeited | 0 | |
Share options, balance | 40,000 | 0 |
Share options, exercisable | 40,000 | |
Stock options expiring November 1, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 7.5 | $ 7.5 |
Share options, balance | 10,000 | 10,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | 0 | 0 |
Share options, balance | 10,000 | 10,000 |
Share options, exercisable | 10,000 | 10,000 |
Stock options expiring December 3, 2026 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 12.5 | |
Share options, balance | 0 | 6,000 |
Share options, granted | 0 | |
Share options, exercised | 0 | |
Share options, forfeited | (6,000) | |
Share options, balance | 0 | |
Share options, exercisable | 0 | |
Stock Options Expiring December 4, 2026 [Member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 5.47 | |
Share options, balance | 0 | |
Share options, granted | 20,000 | |
Share options, exercised | 0 | |
Share options, forfeited | 0 | |
Share options, balance | 20,000 | 0 |
Share options, exercisable | 20,000 | |
Stock options expiring January 17, 2027 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 20.5 | |
Share options, balance | 0 | 10,000 |
Share options, granted | 0 | |
Share options, exercised | 0 | |
Share options, forfeited | (10,000) | |
Share options, balance | 0 | |
Share options, exercisable | 0 | |
Stock options expiring February 16, 2027 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 17.5 | $ 17.5 |
Share options, balance | 20,000 | 20,000 |
Share options, granted | 0 | 0 |
Share options, exercised | 0 | 0 |
Share options, forfeited | (20,000) | 0 |
Share options, balance | 0 | 20,000 |
Share options, exercisable | 0 | 20,000 |
Stock options expiring September 6, 2028 [member] | ||
Statement Line Items [Line Items] | ||
Share options, exercise price (in CAD per share) | $ 6.6 | |
Share options, balance | 0 | |
Share options, granted | 85,000 | |
Share options, exercised | 0 | |
Share options, forfeited | 0 | |
Share options, balance | 85,000 | 0 |
Share options, exercisable | 85,000 |
Note 9 - Capital Stock and Re_5
Note 9 - Capital Stock and Reserve - Fair Value of Stock Option Assumptions (Details) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 CAD ($) $ / shares | Mar. 31, 2023 CAD ($) $ / shares | |
Statement Line Items [Line Items] | ||
Fair value per option | $ | $ 4.07 | $ 6 |
Exercise price (in CAD per share) | $ / shares | $ 5.87 | $ 11 |
Expected life (years) | 3.5 | 3 |
Interest rate | 4.22% | 3.49% |
Annualized volatility (based on historical volatility) | 109% | 118% |
Dividend yield | 0% | 0% |
Note 9 - Capital Stock and Re_6
Note 9 - Capital Stock and Reserve - Summary of Warrant Transactions (Details) | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 $ / shares shares | Dec. 31, 2023 $ / shares $ / shares shares | Mar. 31, 2023 $ / shares shares | Dec. 31, 2023 $ / shares | |
Unit warrants expiring December 2, 2023 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 6.5 | $ 6.5 | $ 6.5 | |
Balances, number of warrants (in shares) | 24,000 | 24,000 | 47,800 | |
Issued, number of warrants (in shares) | 0 | 0 | 0 | |
Exercised, number of warrants (in shares) | 0 | 0 | (23,800) | |
Cancelled, number of warrants (in shares) | (24,000) | (24,000) | 0 | |
Balances, number of warrants (in shares) | 0 | 0 | 24,000 | |
Unit warrants one [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 3.75 | |||
Balances, number of warrants (in shares) | 0 | 0 | 53,778 | |
Issued, number of warrants (in shares) | 0 | |||
Exercised, number of warrants (in shares) | (53,778) | |||
Cancelled, number of warrants (in shares) | 0 | |||
Balances, number of warrants (in shares) | 0 | |||
Agent warrants expiring July 19, 2024 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 10 | $ 10 | $ 10 | |
Balances, number of warrants (in shares) | 5,765 | 5,765 | 0 | |
Issued, number of warrants (in shares) | 0 | 0 | 5,765 | |
Exercised, number of warrants (in shares) | 0 | 0 | 0 | |
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | |
Balances, number of warrants (in shares) | 5,765 | 5,765 | 5,765 | |
Unit warrants expiring August 24, 2028 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 6.25 | |||
Balances, number of warrants (in shares) | 0 | 0 | ||
Issued, number of warrants (in shares) | 800,000 | 800,000 | ||
Exercised, number of warrants (in shares) | 0 | 0 | ||
Cancelled, number of warrants (in shares) | 0 | 0 | ||
Balances, number of warrants (in shares) | 800,000 | 800,000 | 0 | |
Unit warrants two [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 5 | |||
Balances, number of warrants (in shares) | 0 | 0 | 121,600 | |
Issued, number of warrants (in shares) | 0 | |||
Exercised, number of warrants (in shares) | (121,600) | |||
Cancelled, number of warrants (in shares) | 0 | |||
Balances, number of warrants (in shares) | 0 | |||
Agent warrants expiring August 21, 2028 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 6.25 | |||
Balances, number of warrants (in shares) | 0 | 0 | ||
Issued, number of warrants (in shares) | 40,000 | 40,000 | ||
Exercised, number of warrants (in shares) | 0 | 0 | ||
Cancelled, number of warrants (in shares) | 0 | 0 | ||
Balances, number of warrants (in shares) | 40,000 | 40,000 | 0 | |
Agent warrants [member] | ||||
Statement Line Items [Line Items] | ||||
Balances, number of warrants (in shares) | 5,765 | 5,765 | 0 | |
Issued, number of warrants (in shares) | 40,000 | 40,000 | 5,765 | |
Exercised, number of warrants (in shares) | 0 | 0 | 0 | |
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | |
Balances, number of warrants (in shares) | 45,765 | 45,765 | 5,765 | |
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 10 | $ 0 | ||
Issued, warrants, weighted average exercise price (in dollars per share) | (per share) | $ 6.25 | 10 | ||
Exercised, warrants, weighted average exercise price (in CAD per share) | $ / shares | 0 | 0 | ||
Cancelled, warrants, weighted average exercise price (in CAD per share) | $ / shares | 0 | $ 0 | 0 | |
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 0 | $ 10 | ||
warrant, weighted average remaining life (years) (Year) | 4 years 1 month 17 days | 4 years 1 month 17 days | 1 year 3 months 18 days | |
Unit warrants expiring October 29, 2022 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 12.5 | |||
Balances, number of warrants (in shares) | 0 | 0 | 36,166 | |
Issued, number of warrants (in shares) | 0 | |||
Exercised, number of warrants (in shares) | (3,572) | |||
Cancelled, number of warrants (in shares) | (32,594) | |||
Balances, number of warrants (in shares) | 0 | |||
Unit warrants [member] | ||||
Statement Line Items [Line Items] | ||||
Balances, number of warrants (in shares) | 24,000 | 24,000 | 281,344 | |
Issued, number of warrants (in shares) | 800,000 | 800,000 | 0 | |
Exercised, number of warrants (in shares) | 0 | 0 | (212,750) | |
Cancelled, number of warrants (in shares) | (24,000) | (24,000) | (44,594) | |
Balances, number of warrants (in shares) | 800,000 | 800,000 | 24,000 | |
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 6.5 | $ 5.98 | ||
Issued, warrants, weighted average exercise price (in dollars per share) | (per share) | $ 6.25 | 0 | ||
Exercised, warrants, weighted average exercise price (in CAD per share) | $ / shares | 0 | 4.98 | ||
Cancelled, warrants, weighted average exercise price (in CAD per share) | $ / shares | 6.5 | $ 6.5 | 10.48 | |
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 6.25 | $ 6.5 | ||
warrant, weighted average remaining life (years) (Year) | 4 years 7 months 24 days | 4 years 7 months 24 days | 8 months 1 day | |
Unit warrants expiring December 15, 2022 [member] | ||||
Statement Line Items [Line Items] | ||||
warrants, exercise price (in CAD per share) | $ / shares | $ 5 | |||
Balances, number of warrants (in shares) | 0 | 0 | 22,000 | |
Issued, number of warrants (in shares) | 0 | |||
Exercised, number of warrants (in shares) | (10,000) | |||
Cancelled, number of warrants (in shares) | (12,000) | |||
Balances, number of warrants (in shares) | 0 |
Note 9 - Capital Stock and Re_7
Note 9 - Capital Stock and Reserve - Weighted Average Assumptions (Details) - Agent warrants [member] | Dec. 31, 2023 | Mar. 31, 2023 |
Fair value of warrant [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 5.67 | 3.81 |
Exercise Price [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 6.25 | 10 |
Expected life [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 5 | 2 |
Interest rate, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 0.0414 | 0.033 |
Historical volatility for shares, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 1.13 | 1.20 |
Note 10 - Related Party Trans_3
Note 10 - Related Party Transactions - Transaction with Key Management Personnel (Details) - Current and former directors, officers and companies controlled by them [member] - CAD ($) | 9 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | $ 651,125 | $ 736,726 |
Current and former directors, officers and companies controlled by them | 1,201,379 | 1,073,825 |
Management Personnel [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | 434,131 | 270,569 |
Current and former directors, officers and companies controlled by them | 434,131 | 270,569 |
Consulting Personnel [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | 116,123 | |
Current and former directors, officers and companies controlled by them | $ 116,123 | |
Investor Personnel [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | 66,530 | |
Current and former directors, officers and companies controlled by them | $ 66,530 |
Note 10 - Related Party Trans_4
Note 10 - Related Party Transactions - Transactions Between Related Parties (Details) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Current and former directors, officers and companies controlled by them [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | $ 88,139 | $ 112,975 |
Note 11 - Supplemental Disclo_2
Note 11 - Supplemental Disclosures With Respect to Cash Flows (Details Textual) - CAD ($) | 9 Months Ended | ||
Aug. 22, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Statement Line Items [Line Items] | |||
Adjustments for increase (decrease) in accounts payable and accrued liabilities | $ 341,831 | $ 738,624 | |
Increase (decrease) in number of shares outstanding, acquisition of exploration and evaluation assets (in shares) | 29,900 | 879,732 | |
Acquisition of exploration and evaluation assets | $ 235,600 | $ 152,454 | |
Increase (decrease) in number of shares outstanding, shares issued for services (in shares) | 30,900 | ||
Issue of equity, shares issued for services | $ 187,872 | ||
Adjustments for increase (decrease) in short-term loans payable | $ 67,717 | ||
Underwriter warrants [member] | |||
Statement Line Items [Line Items] | |||
Class of warrant or right, granted (in shares) | 40,000 | 40,000 | |
Class of warrant or right, granted, value | $ 270,400 |
Note 12 - Segmented Informati_3
Note 12 - Segmented Information (Details Textual) | 9 Months Ended |
Dec. 31, 2023 | |
Statement Line Items [Line Items] | |
Number of reportable operating segments | 1 |
Note 12 - Segmented Informati_4
Note 12 - Segmented Information - Geographic Information (Details) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | $ 13,293,755 | $ 12,477,791 |
Canada 1 [member] | ||
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | 11,511,709 | 10,713,334 |
United States 1 [member] | ||
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | $ 1,782,046 | $ 1,706,457 |
Note 13 - Financial Risk Mana_2
Note 13 - Financial Risk Management (Details Textual) - CAD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement Line Items [Line Items] | ||
Total cash | $ 1,453,147 | $ 574,587 |
Total current liabilities | $ 1,822,554 | $ 2,912,822 |