Document And Entity Information
Document And Entity Information | 12 Months Ended |
Mar. 31, 2024 | |
Document Information [Line Items] | |
Entity Central Index Key | 0001935418 |
Entity Registrant Name | Foremost Lithium Resource & Technology Ltd. |
Amendment Flag | false |
Document Type | 424B3 |
Condensed Interim Consolidated
Condensed Interim Consolidated Statements of Financial Position (Current Period Unaudited) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Current ASSETS | ||
Cash | $ 515,824 | $ 998,262 |
Receivables | 225,792 | 146,209 |
Prepaid expenses and deposits | 597,476 | 340,742 |
Current assets | 1,339,092 | 1,485,213 |
Non-Current ASSETS | ||
Prepaid expenses and deposits | 16,518 | 19,231 |
Exploration and evaluation assets (Note 4) | 15,774,855 | 15,094,413 |
Total Assets | 17,130,465 | 16,598,857 |
Current LIABILITIES | ||
Accounts payable and accrued liabilities (Notes 4, 5 and 8) | 1,735,480 | 1,582,188 |
Term loans payable (Note 6) | 1,138,430 | 1,138,520 |
Flow-through premium liability (Note 7) | 52,395 | 11,666 |
Current liabilities | 2,926,305 | 2,732,374 |
Non-Current LIABILITIES | ||
Derivative liability (Note 7) | 481,469 | 656,946 |
Total Liabilities | 3,407,774 | 3,389,320 |
Shareholders' Equity | ||
Capital stock (Note 7) | 33,118,761 | 32,123,613 |
Subscriptions received (Note 7) | 0 | 105,000 |
Reserves (Notes 7) | 2,663,810 | 2,462,047 |
Deficit | (22,059,880) | (21,481,123) |
Total Shareholders’ Equity | 13,722,691 | 13,209,537 |
Total Liabilities and Shareholders’ Equity | $ 17,130,465 | $ 16,598,857 |
Condensed Interim Consolidate_2
Condensed Interim Consolidated Statements of Net Loss and Comprehensive Loss (Unaudited) - CAD ($) | 3 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Expenses | ||
Consulting (Note 8) | $ 47,791 | $ 30,581 |
Investor relations and promotion | 536,323 | 26,041 |
Management and director fees (Note 8) | 166,500 | 135,000 |
Office and miscellaneous | 76,871 | 11,295 |
Professional fees | 199,550 | 331,157 |
Share-based payments | 0 | 15,787 |
Transfer agent and filing fees | 34,763 | 39,118 |
Travel | 2,286 | 4,184 |
Loss before other items | (1,064,084) | (593,163) |
Finance income on sublease | 0 | 936 |
Foreign exchange (loss) gain | (2,555) | 7,085 |
Change in fair value of derivatives (Note 10) | 175,477 | 0 |
Gain on forgiveness of debt (Notes 5) | 50,200 | 0 |
Gain on sublease | 0 | 1,481 |
Gain (loss) on long-term investment | 0 | 350 |
Interest expense (Note 6) | (32,415) | (24,867) |
Recovery of flow-through premium liability (Note 7) | 16,283 | 0 |
Net Loss and Comprehensive Loss for the period | $ (857,094) | $ (608,178) |
Basic and diluted loss per common share (in CAD per share) | $ (0.16) | $ (0.15) |
Weighted average number of common shares outstanding Basic and Diluted (in shares) | 5,382,316 | 3,975,666 |
Condensed Interim Consolidate_3
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - CAD ($) | Issued capital [member] | Subscriptions received in advance [member] | Capital reserve [member] | Retained earnings [member] | Total |
Balance (in shares) at Mar. 31, 2023 | 3,969,617 | ||||
Balance at Mar. 31, 2023 | $ 26,449,839 | $ 0 | $ 1,806,894 | $ (17,869,111) | $ 10,387,622 |
Statement Line Items [Line Items] | |||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) (in shares) | 23,772 | ||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) | $ 185,600 | 0 | 0 | 0 | 185,600 |
Share-based payments (Note 9) | 0 | 0 | 15,787 | 0 | 15,787 |
Loss and comprehensive loss for the period | $ 0 | 0 | 0 | (608,178) | (608,178) |
Share issue costs | 0 | ||||
Balance (in shares) at Jun. 30, 2023 | 3,993,389 | ||||
Balance at Jun. 30, 2023 | $ 26,635,439 | 0 | 1,822,681 | (18,477,289) | 9,980,831 |
Balance (in shares) at Mar. 31, 2023 | 3,969,617 | ||||
Balance at Mar. 31, 2023 | $ 26,449,839 | 0 | 1,806,894 | (17,869,111) | $ 10,387,622 |
Statement Line Items [Line Items] | |||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) (in shares) | 29,900 | ||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) | $ 235,600 | ||||
Shares issued – for services (Note 7) (in shares) | 30,900 | ||||
Balance (in shares) at Mar. 31, 2024 | 5,208,009 | ||||
Balance at Mar. 31, 2024 | $ 32,123,613 | 105,000 | 2,462,047 | (21,481,123) | $ 13,209,537 |
Balance (in shares) at Jun. 30, 2023 | 3,993,389 | ||||
Balance at Jun. 30, 2023 | $ 26,635,439 | 0 | 1,822,681 | (18,477,289) | 9,980,831 |
Statement Line Items [Line Items] | |||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) (in shares) | 6,128 | ||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) | $ 50,000 | 0 | 0 | 0 | 50,000 |
Share-based payments (Note 9) | 0 | 0 | 894,913 | 0 | 894,913 |
Loss and comprehensive loss for the period | $ 0 | 0 | 0 | (3,863,992) | (3,863,992) |
Shares issued – private placements (Note 7) (in shares) | 1,141,592 | ||||
Shares issued – private placements (Note 7) | $ 7,047,668 | 0 | 0 | 0 | 7,047,668 |
Warrant premium – on private placements (Note 7) | (377,911) | 377,911 | 0 | ||
Flow-through premium – on private placements (Note 7) | (20,143) | 0 | 0 | 0 | (20,143) |
Share issue costs | (480,415) | 0 | 0 | 0 | (480,415) |
Finder fee warrants – on private placements (Note 7) | (280,100) | 0 | 280,100 | 0 | 0 |
Derivative liability (Note 7) | (823,597) | 0 | 0 | 0 | (823,597) |
Subscriptions received in advance (Note 7) | $ 0 | 105,000 | 0 | 0 | 105,000 |
Shares issued – options exercised (Note 7) (in shares) | 36,000 | ||||
Shares issued – options exercised (Note 7) | $ 184,800 | 0 | (53,400) | 0 | 131,400 |
Shares issued – for services (Note 7) (in shares) | 30,900 | ||||
Shares issued – for services (Note 7) | $ 187,872 | 0 | 0 | 0 | 187,872 |
Transfer of cancelled/forfeited options | $ 0 | 0 | (860,158) | 860,158 | 0 |
Balance (in shares) at Mar. 31, 2024 | 5,208,009 | ||||
Balance at Mar. 31, 2024 | $ 32,123,613 | 105,000 | 2,462,047 | (21,481,123) | $ 13,209,537 |
Statement Line Items [Line Items] | |||||
Shares issued – exploration and evaluation assets (Notes 4 and 7) (in shares) | 28,818 | 28,818 | |||
Shares issued – exploration and evaluation assets (Notes 4 and 7) | $ 100,000 | 0 | 0 | 0 | $ 100,000 |
Loss and comprehensive loss for the period | $ 0 | 0 | 0 | (857,094) | (857,094) |
Shares issued – private placements (Note 7) (in shares) | 247,471 | ||||
Shares issued – private placements (Note 7) | $ 1,455,129 | (105,000) | 0 | 0 | 1,350,129 |
Warrant premium – on private placements (Note 7) | (480,000) | 0 | 480,000 | 0 | 0 |
Flow-through premium – on private placements (Note 7) | (57,012) | 0 | 0 | 0 | (57,012) |
Share issue costs | (22,869) | 0 | 0 | 0 | (22,869) |
Finder fee warrants – on private placements (Note 7) | (100) | 0 | 100 | 0 | 0 |
Transfer of cancelled/forfeited options | $ 0 | 0 | (278,337) | 278,337 | 0 |
Balance (in shares) at Jun. 30, 2024 | 5,484,298 | ||||
Balance at Jun. 30, 2024 | $ 33,118,761 | $ 0 | $ 2,663,810 | $ (22,059,880) | $ 13,722,691 |
Condensed Interim Consolidate_4
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2024 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Loss and comprehensive loss for the period | $ (857,094) | $ (608,178) | $ (3,863,992) | |
Item not affecting cash: | ||||
Share-based payments | 0 | 15,787 | ||
Interest expense | 32,415 | 24,867 | ||
Gain on derivative liability | (175,477) | 0 | ||
Recovery of flow-through premium liability | (16,283) | 0 | ||
Finance income on sublease | 0 | (936) | ||
Gain on forgiveness of debt | (50,200) | 0 | ||
Gain on long-term investment | 0 | (350) | ||
Receivables | (79,583) | (18,135) | ||
Prepaid expenses and deposits | (254,021) | (12,897) | ||
Accounts payable and accrued liabilities | (172,047) | 403,112 | ||
Loan repayments | 0 | (16,000) | ||
Net cash used in operating activities | (1,757,290) | (212,730) | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Exploration and evaluation acquisition costs | (140,895) | (187,849) | $ (198,829) | |
Exploration and evaluation expenditures | (264,008) | (227,861) | ||
Exploration and evaluation recoveries | 200,000 | 100,000 | ||
Receipt of sublease payments | 0 | 16,426 | ||
Net cash used in investing activities | (204,903) | (299,284) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Private placements | 1,350,129 | 0 | ||
Share issue costs | (22,869) | 0 | (480,415) | |
Short-term loan interest paid | (32,505) | 0 | ||
Repayment of lease obligations | 0 | (17,907) | ||
Net cash provided by financing activities | 1,294,755 | (17,907) | ||
Change in cash for the period | (482,438) | (529,921) | ||
Cash, beginning of year | 998,262 | 574,587 | 44,666 | 574,587 |
Cash, end of period | 515,824 | 44,666 | $ 998,262 | $ 998,262 |
Cash paid for interest | 32,505 | 16,000 | ||
Cash paid for tax | $ 0 | $ 0 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Going Concern | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of nature and continuance of operations [text block] | 1. NATURE OF OPERATIONS AND GOING CONCERN Foremost Lithium Resource & Technology Ltd. (the "Company") which was 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 and on the NASDAQ Capital Market (“NASDAQ”) under the symbols FMST and FMSTW. The Company’s head office is located at 250 750 V6C 2T7. On July 5, 2023, fifty 50 one 1 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 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 June 30, 2024, March 31, 2024 - June 30, 2023, March 31, 2024 - not 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 Statement of compliance These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with IAS 34, 34” not These condensed interim consolidated financial statements should be read in conjunction with the Company’s audited financial statements for the year ended March 31, 2024, |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of basis of preparation of financial statements [text block] | 2. BASIS OF PRESENTATION a) Basis of measurement They have been prepared on a historical cost basis, except for financial instruments classified as financial instruments at fair value through profit and loss or fair value through other comprehensive loss, which are stated at their fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting except for cash flow information. The policies applied in these condensed consolidated financial statements are based on IFRS issued and effective as of June 30, 2024. August 13, 2024. b) Principles of consolidation These consolidated financial statements include the financial statements of the Company and the entities controlled by the Company. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. All significant intercompany transactions and balances have been eliminated. The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary listed in the following table: Country of Incorporation Principal Activity Sierra Gold & Silver Ltd USA Holding Company |
Note 3 - Material Accounting Po
Note 3 - Material Accounting Policies | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of material accounting policy information [text block] | 3. MATERIAL 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, 2024. March 31, 2024. |
Note 4 - Exploration and Evalua
Note 4 - Exploration and Evaluation Assets | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of exploration and evaluation assets [text block] | 4. EXPLORATION AND EVALUATION ASSETS During the Periods ended June 30, 2024, March 31, 2024, Zoro Property Grass River Property Peg North Property Winston Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2024 $ 1,909,407 $ 45,255 $ 400,000 $ 1,338,793 $ 250,000 $ 11,730 $ 127,153 $ 4,082,338 Cash - - 100,000 40,895 - - - 140,895 Shares - - 100,000 - - - - 100,000 Balance, June 30, 2024 1,909,407 45,255 600,000 1,379,688 250,000 11,730 127,153 4,323,233 Exploration costs Balance, March 31, 2024 6,552,532 680,016 849,406 419,233 2,465,023 45,865 - 11,012,075 Assay 27,236 - - - - - - 27,236 Geological, consulting, and Other 596,910 - 3,909 - 8,492 3,000 - 612,311 Exploration cost recovery (300,000 ) - - - 100,000 - - (200,000 ) Balance, June 30, 2024 6,876,678 680,016 853,315 419,233 2,573,515 48,865 - 11,451,622 Total Balance June 30, 2024 $ 8,786,085 $ 725,271 $ 1,453,315 $ 1,798,921 $ 2,823,515 $ 60,595 $ 127,153 $ 15,774,855 Zoro Property Grass River Property Peg North Property Winston Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2023 $ 1,909,407 $ 43,500 $ 200,000 $ 1,334,548 $ 150,000 $ 10,454 $ - $ 3,647,909 Cash - 1,755 100,000 4,245 50,000 1,276 41,553 198,829 Shares - - 100,000 - 50,000 - 85,600 235,600 Balance, March 31, 2024 1,909,407 45,255 400,000 1,338,793 250,000 11,730 127,153 4,082,338 Exploration costs Balance, March 31, 2023 4,653,559 596,124 660,472 371,909 2,509,453 38,365 - 8,829,882 Assay - - 15,188 - 2,669 - - 17,857 Geological, consulting, and Other 1,898,973 83,892 173,746 47,324 152,901 7,500 - 2,364,336 Exploration cost recovery - - - - (200,000 ) - - (200,000 ) Balance, March 31, 2024 6,552,532 680,016 849,406 419,233 2,465,023 45,865 - 11,012,075 Total Balance March 31, 2024 $ 8,461,939 $ 725,271 $ 1,249,406 $ 1,758,026 $ 2,715,023 $ 57,595 $ 127,153 $ 15,094,413 Zoro Property Zoro I Agreement On April 28, 2017, In addition, during the year ended March 31, 2017, Strider Agreement On August 19, 2019, 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 Agreement On September 13, 2019, 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. The Company announced on January 4, 2024, March 31, 2024, June 30, 2024. Grass River Property During the year ended March 31, 2022, March 31, 2023, June 30, 2024, $Nil March 31, 2024 - Peg North Property During the year ended March 31, 2023, fifth 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 28, 2023 ( iii) a cash payment of $100,000 on or before June 28, 2024 ( iv) a cash payment of $150,000 on or before June 28, 2025; v) a cash payment of $150,000 on or before June 28 2026; vi) a cash payment of $150,000 on or before June 28, 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 28, 2024 ( iv) the issuance of $150,000 in common shares on or before June 28, 2025; v) the issuance of $150,000 in common shares on or before June 28, 2026; vi) the issuance of $150,000 in common shares on or before June 28, 2027; c) Incurring exploration expenditures totaling $3,000,000 (incurred $853,315 as at June 30, 2024; March 31, 2024) June 9, 2027. Provided that the First Option has been exercised, the Company may one Winston Property In October 2014, 102 four April 2017, May 17, 2017, Ivanhoe/Emporia claims In accordance with the terms and conditions of the underlying Ivanhoe/Emporia purchase agreement, the Optionors agreed to sell and convey Ivanhoe/Emporia Claims for the purchase price of $500,000 USD of which $361,375 USD remained due owing to the Robert Howe Educational Trust (“RHET”) upon closing on May 17, 2017. Ivanhoe / Emporia - Royalty Schedule Monthly Average Minimum Production Silver Price/oz Monthly Royalty Royalty % Less than $5.00 $ 125 3 % $5.00 -$6.99 $ 250 4 % $7.00-8.99 $ 500 5 % $9.00-10.99 $ 1,000 6 % $11.00-$14.99 $ 1,500 7 % $15 or greater $ 2,000 8 % All royalty payments made to RHET under the Minimum Monthly Royalty or Production Royalty of the agreement will be credited upon the purchase price. As of June 30, 2024, March 31, 2024 - March 31, 2024 - may June 30, 2024, March 31, 2024 - Little Granite Claims In accordance with the terms and conditions of the underlying Little Granite purchase agreement, the Optionors agreed to sell and convey Little Granite for the purchase price of $500,000 USD of which $434,000 USD remained due owing.to the Silver Rose Corporation (“Silver Rose”) upon closing on May 17, 2017. October 2022, March 31, 2023. October 15, 2023, March 31, 2024. no 4 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 (paid subsequent to June 30, 2024), June 30, 2024) 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 During the year ended March 31, 2023, March 31, 2024. Lac Simard Property During the year ended March 31, 2024, June 30, 2024 $Nil March 31, 2024 - Jol Lithium Property During the year ended March 31, 2023, MB3530 June 30, 2024, $Nil March 31, 2024 - |
Note 5 - Accounts Payable and A
Note 5 - Accounts Payable and Accrued Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of trade and other payables [text block] | 5. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payables and accrued liabilities for the Company are broken down as follows: June 30, March 31, Trade payables $ 1,232,541 $ 1,101,757 Advance royalty payable 337,086 301,967 Accrued liabilities 105,034 91,484 Due to related parties (Note 8) 60,819 86,980 Trade payables $ 1,735,480 $ 1,582,188 During the period ended June 30, 2024, March 31, 2024 - $Nil March 31, 2024 - $Nil |
Note 6 - Term Loans Payable
Note 6 - Term Loans Payable | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of short-term loans payable [text block] | 6. TERM LOANS PAYABLE June 30, March 31, Loan payable on demand, unsecured with 10% interest per annum and no fixed term $ 5,000 $ 5,000 Loan payable on May 10, 2025, secured, with 11.35% interest per annum 1,133,430 1,133,520 Total payable $ 1,138,430 $ 1,138,520 Short-term portion 1,138,430 1,138,520 Long-term portion $ - $ - During the year ended March 31, 2023, May 1, 2023, May 10, 2025 ( May 1, 2023, May 10, 2023, May 10, 2024, April 26, 2024, May 10, 2024 May 10, 2025). June 30, 2024 ( March 31, 2024 - |
Note 7 - Capital Stock and Rese
Note 7 - Capital Stock and Reserves | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of share capital, reserves and other equity interest [text block] | 7. CAPITAL STOCK AND RESERVES Authorized capital stock Unlimited number of common shares without par value Issued capital stock All issued shares are fully paid. During the period ended June 30, 2024, a) closed on Tranche 2 March 2024 one one 14 may 30 one 24 April 29, 2026. second four one one two first four one August 29, 2024. December 31, 2025. June 30, 2024, b) issued 28,818 common shares at a value of $100,000 as part of the annual payment due under the Peg North Property option agreement (see Note 4 During the year ended March 31, 2024, a) closed an underwritten public offering in the United States (the “Offering”). The Company sold 800,000 units, each consisting of one one one five March 31, 2024, March 31, 2024. 1 August 22, 2023; b) closed Tranche 1 2 one one one one March 13, 2026. 14 may 30 first one two first four one July 14, 2024. December 31, 2025. June 30, 2024 c) 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 4 d) 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 4 e) 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 4 f) issued 30,900 common shares at a value of $187,872 to a non-related consulting firm for services; and g) 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. Stock Incentive Plan: The Board of Directors adopted the Company’s 2023 January 25, 2024, may not Stock Options: Under the policies of the Canadian Securities Exchange, which the Company follows, the exercise price of each option may not ten During the period ended June 30, 2024, a) granted Nil During the year ended March 31, 2024, 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 f) granted a stock option for 20,000 shares to an officer of the Company. The option is exercisable at $3.98 per share for five g) granted a stock option for 20,000 shares to a consultant of the Company. The option is exercisable at $3.30 per share for two h) had 36,000 stock options exercised by issuing 36,000 shares for proceeds of $131,400; i) had 80,300 stock options that expired or were forfeited, resulting in a reallocation of share-based reserves of $860,158 from reserves to deficit. Stock option transactions for the period ended June 30, 2024, Expiry Date Exercise Price Balance March 31, 2024 Granted Exercised Forfeited / Expired Balance June 30, 2024 Exercisable 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 - - (20,000 ) 42,000 42,000 December 13, 2025 $ 9.50 21,000 - - - 21,000 21,000 March 26, 2026 $ 3.30 20,000 - - - 20,000 20,000 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 September 6, 2028 $ 6.60 85,000 - - (32,500 ) 52,500 52,500 February 15, 2029 $ 3.98 20,000 - - - 20,000 20,000 Total 333,500 - (- ) (52,500 ) 281,000 281,000 Weighted average exercise price $ 7.38 $ - $ - $ 7.51 $ 7.36 $ 7.36 Weighted average remaining life (years) $ 2.61 2.33 Stock option transactions for the year ended March 31, 2024, Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 Exercisable March 1, 2024 $ 16.50 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 ) - - March 26, 2026 $ 3.30 - 20,000 - - 20,000 20,000 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 February 15, 2029 $ 3.98 - 20,000 - - 20,000 20,000 $ - - - - - - - Total 211,300 238,500 (36,000 ) (80,300 ) 333,500 333,500 Weighted average exercise price $ 10.81 $ 5.87 $ 4.70 $ 9.95 $ 7.38 $ 7.38 Weighted average remaining life (years) $ 2.57 2.61 The average market price of the 36,000 options exercised was $4.95 per share. The fair value of stock options was calculated using the Black-Scholes option pricing model with the following weighted average assumptions. March 31, Fair value per option $ 5.42 Exercise price $ 5.49 Expected life (years) 3.50 Interest rate 4.17 % Annualized volatility (based on historical volatility) 108 % Dividend yield 0.00 % Performance Stock Options: During the period ended June 30, 2024, $Nil March 31, 2024 - $Nil March 31, 2024. Performance stock option transactions for the year ended June 30, 2024 March 31, 2024, Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 and June 30, 2024 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) - Warrants: A continuity of the warrants granted for the period ended June 30, 2024, Expiry Date Exercise Price Balance March 31, 2024 Granted Exercised Forfeited / Expired Balance June 30, 2024 August 24, 2028 $ USD 6.25 800,000 - - - 800,000 March 13, 2026 $ 4.00 341,592 - - - 341,592 April 29, 2026 $ 4.00 - 247,471 - - 247,471 Total 1,141,592 247,471 - - 1,389,063 Weighted average exercise price $ 5.58 $ 4.00 $ - $ - $ 5.30 Weighted average remaining life (years) 3.67 3.14 The company records warrants with an exercise price that is in a currency that is different from the functional currency as a derivative liability. Any gains or losses are recorded in the consolidated statements of comprehensive loss as they relate to the issue of warrants recorded on the Company’s balance sheet as a derivative liability measured at FVTPL. The fair value of the 800,000 transferrable warrants ($823,597) issued on August 24, 2023, As at As at At grant date Number of warrants outstanding 800,000 800,000 800,000 Warrant price at valuation date 0.44 USD 0.61 USD 0.76 USD Exchange rate 1.36781 1.35397 1.35460 Fair value of warrants outstanding (derivative liability) $ 481,469 $ 656,946 $ 823,597 A continuity of the warrants granted for the year ended March 31, 2024, Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 December 2, 2023 $ 6.50 24,000 - - (24,000 ) - August 24, 2028 $ USD 6.25 - 800,000 - - 800,000 March 13, 2026 $ 4.00 - 341,592 - - 341,592 Total 24,000 1,141,592 - (24,000 ) 1,141,592 Weighted average exercise price $ 6.50 $ 5.58 $ - $ 6.50 $ 5.58 Weighted average remaining life (years) 0.67 3.67 The fair value of the $480,000 (on 247,471 warrants) and $377,911 (on 341,592 warrants) were allocated to reserves and calculated using the Black-Scholes option pricing model with the following weighted average assumptions: June 30, March 31, Fair value per option $ 3.71 $ 3.77 Exercise price $ 4.00 $ 4.00 Expected life (years) 2.00 2.00 Interest rate 4.30 % 3.50 % Annualized volatility (based on historical volatility) 100.90 % 110.96 % Dividend yield 0.00 % 0.00 % Agent warrants: During the period ended June 30, 2024, Expiry Date Exercise Price Balance March 31, 2024 Granted Exercised Cancelled / Expired Balance March 31, 2024 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 $ USD 6.25 40,000 - - - 40,000 March 13, 2026 $ 3.40 3,274 - - - 3,274 April 29, 2026 $ 3.40 - 51 - - 51 Total 49,039 51 - - 49,090 Weighted average exercise price $ 6.50 $ 3.40 $ - $ - $ 6.49 Weighted average remaining life (years) 2.94 3.51 Agent warrants: During the period ended March 31, 2024, Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled / Expired Balance March 31, 2024 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 $ USD 6.25 - 40,000 - - 40,000 March 13, 2026 $ 3.40 - 3,274 - - 3,274 Total 5,765 43,274 - - 49,039 $ USD 6.25 Weighted average exercise price $ 10.00 $ CAD 3.40 $ - $ - $ 6.50 Weighted average remaining life (years) 2.94 The fair value of agent warrants was calculated using the Black-Scholes option pricing model with the following weighted average assumptions: June 30, March 31, Fair value per option $ 1.96 $ 7.95 Exercise price $ 3.40 $ 8.09 Expected life (years) 2.00 4.78 Interest rate 4.30 % 4.09 % Annualized volatility (based on historical volatility) 100.9 % 113.0 % Dividend yield 0.00 % 0.00 % |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of related party [text block] | 8. 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 June 30, 2024, 2023 Management fees Consulting fees Share-based payments Total Period ended June 30, 2024 Current and former directors, officers and companies controlled by them $ 166,500 $ - $ - $ 166,500 Period ended June 30, 2023 Current and former directors, officers and companies controlled by them $ 105,000 $ 30,000 $ - $ 135,000 Additionally, please refer to Note 6 The amounts due to related parties included in accounts payable and accrued liabilities are unsecured, non-interest bearing, and have no June 30, March 31, Current and former directors, officers and companies controlled by them $ 60,819 $ 86,980 |
Note 9 - Segmented Information
Note 9 - Segmented Information | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of operating segments [text block] | 9. SEGMENTED INFORMATION The Company primarily operates in one June 30, March 31, Exploration and evaluation assets: Canada $ 13,975,934 $ 13,336,387 United States 1,766,278 1,758,026 $ 15,742,212 $ 15,094,413 |
Note 10 - Financial Risk Manage
Note 10 - Financial Risk Management | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of financial risk management [text block] | 10. 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 March 31, 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 Level 1 Level 2 Level 3 not The fair value of the Company’s derivative liability was calculated using Level 1 The carrying value of cash, accounts receivable, accounts payable and accrued liabilities, 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 and GST amounts receivable. The Company limits its exposure to credit loss by placing its cash with major Canadian financial institutions and management believes it has no 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 June 30, 2024, March 31, 2024 - March 31, 2024 - 30 no Market risk Market risk is the risk of loss that may Interest rate risk The Company has cash balances and no not 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 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. The Company does not |
Note 11 - Supplemental Disclosu
Note 11 - Supplemental Disclosures With Respect to Cash Flows | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of cash flow statement [text block] | 11. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS During the period ended June 30, 2024, a) included in accounts payable and accrued liabilities was $1,045,607 related to exploration and evaluation assets; b) issued 28,818 common shares at a value of $100,000 for the acquisition of exploration and evaluation assets. c) issued 51 agent warrants valued at $100 for the private placement. During the year ended March 31, 2024, a) included in accounts payable and accrued liabilities was $670,068 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. |
Note 12 - Subsequent Event
Note 12 - Subsequent Event | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of non-adjusting events after reporting period [text block] | 12. SUBSEQUENT EVENT On July 15, 2024, July 16, 2024 4 On July 31, 2024, five |
Note 4 - Exploration and Eval_2
Note 4 - Exploration and Evaluation Assets (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about exploration expenditures [text block] | Zoro Property Grass River Property Peg North Property Winston Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2024 $ 1,909,407 $ 45,255 $ 400,000 $ 1,338,793 $ 250,000 $ 11,730 $ 127,153 $ 4,082,338 Cash - - 100,000 40,895 - - - 140,895 Shares - - 100,000 - - - - 100,000 Balance, June 30, 2024 1,909,407 45,255 600,000 1,379,688 250,000 11,730 127,153 4,323,233 Exploration costs Balance, March 31, 2024 6,552,532 680,016 849,406 419,233 2,465,023 45,865 - 11,012,075 Assay 27,236 - - - - - - 27,236 Geological, consulting, and Other 596,910 - 3,909 - 8,492 3,000 - 612,311 Exploration cost recovery (300,000 ) - - - 100,000 - - (200,000 ) Balance, June 30, 2024 6,876,678 680,016 853,315 419,233 2,573,515 48,865 - 11,451,622 Total Balance June 30, 2024 $ 8,786,085 $ 725,271 $ 1,453,315 $ 1,798,921 $ 2,823,515 $ 60,595 $ 127,153 $ 15,774,855 Zoro Property Grass River Property Peg North Property Winston Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2023 $ 1,909,407 $ 43,500 $ 200,000 $ 1,334,548 $ 150,000 $ 10,454 $ - $ 3,647,909 Cash - 1,755 100,000 4,245 50,000 1,276 41,553 198,829 Shares - - 100,000 - 50,000 - 85,600 235,600 Balance, March 31, 2024 1,909,407 45,255 400,000 1,338,793 250,000 11,730 127,153 4,082,338 Exploration costs Balance, March 31, 2023 4,653,559 596,124 660,472 371,909 2,509,453 38,365 - 8,829,882 Assay - - 15,188 - 2,669 - - 17,857 Geological, consulting, and Other 1,898,973 83,892 173,746 47,324 152,901 7,500 - 2,364,336 Exploration cost recovery - - - - (200,000 ) - - (200,000 ) Balance, March 31, 2024 6,552,532 680,016 849,406 419,233 2,465,023 45,865 - 11,012,075 Total Balance March 31, 2024 $ 8,461,939 $ 725,271 $ 1,249,406 $ 1,758,026 $ 2,715,023 $ 57,595 $ 127,153 $ 15,094,413 |
Schedule of royalties [table text block] | Ivanhoe / Emporia - Royalty Schedule Monthly Average Minimum Production Silver Price/oz Monthly Royalty Royalty % Less than $5.00 $ 125 3 % $5.00 -$6.99 $ 250 4 % $7.00-8.99 $ 500 5 % $9.00-10.99 $ 1,000 6 % $11.00-$14.99 $ 1,500 7 % $15 or greater $ 2,000 8 % |
Note 5 - Accounts Payable and_2
Note 5 - Accounts Payable and Accrued Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about trade payable and accrued liabilities [text block] | June 30, March 31, Trade payables $ 1,232,541 $ 1,101,757 Advance royalty payable 337,086 301,967 Accrued liabilities 105,034 91,484 Due to related parties (Note 8) 60,819 86,980 Trade payables $ 1,735,480 $ 1,582,188 |
Note 6 - Term Loans Payable (Ta
Note 6 - Term Loans Payable (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about short-term loans payable [text block] | June 30, March 31, Loan payable on demand, unsecured with 10% interest per annum and no fixed term $ 5,000 $ 5,000 Loan payable on May 10, 2025, secured, with 11.35% interest per annum 1,133,430 1,133,520 Total payable $ 1,138,430 $ 1,138,520 Short-term portion 1,138,430 1,138,520 Long-term portion $ - $ - |
Note 7 - Capital Stock and Re_2
Note 7 - Capital Stock and Reserves (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
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, 2024 Granted Exercised Forfeited / Expired Balance June 30, 2024 Exercisable 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 - - (20,000 ) 42,000 42,000 December 13, 2025 $ 9.50 21,000 - - - 21,000 21,000 March 26, 2026 $ 3.30 20,000 - - - 20,000 20,000 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 September 6, 2028 $ 6.60 85,000 - - (32,500 ) 52,500 52,500 February 15, 2029 $ 3.98 20,000 - - - 20,000 20,000 Total 333,500 - (- ) (52,500 ) 281,000 281,000 Weighted average exercise price $ 7.38 $ - $ - $ 7.51 $ 7.36 $ 7.36 Weighted average remaining life (years) $ 2.61 2.33 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 Exercisable March 1, 2024 $ 16.50 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 ) - - March 26, 2026 $ 3.30 - 20,000 - - 20,000 20,000 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 February 15, 2029 $ 3.98 - 20,000 - - 20,000 20,000 $ - - - - - - - Total 211,300 238,500 (36,000 ) (80,300 ) 333,500 333,500 Weighted average exercise price $ 10.81 $ 5.87 $ 4.70 $ 9.95 $ 7.38 $ 7.38 Weighted average remaining life (years) $ 2.57 2.61 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 and June 30, 2024 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) - |
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block] | March 31, Fair value per option $ 5.42 Exercise price $ 5.49 Expected life (years) 3.50 Interest rate 4.17 % Annualized volatility (based on historical volatility) 108 % Dividend yield 0.00 % |
Disclosure of detailed information about warrant transactions [text block] | Expiry Date Exercise Price Balance March 31, 2024 Granted Exercised Forfeited / Expired Balance June 30, 2024 August 24, 2028 $ USD 6.25 800,000 - - - 800,000 March 13, 2026 $ 4.00 341,592 - - - 341,592 April 29, 2026 $ 4.00 - 247,471 - - 247,471 Total 1,141,592 247,471 - - 1,389,063 Weighted average exercise price $ 5.58 $ 4.00 $ - $ - $ 5.30 Weighted average remaining life (years) 3.67 3.14 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Forfeited / Expired Balance March 31, 2024 December 2, 2023 $ 6.50 24,000 - - (24,000 ) - August 24, 2028 $ USD 6.25 - 800,000 - - 800,000 March 13, 2026 $ 4.00 - 341,592 - - 341,592 Total 24,000 1,141,592 - (24,000 ) 1,141,592 Weighted average exercise price $ 6.50 $ 5.58 $ - $ 6.50 $ 5.58 Weighted average remaining life (years) 0.67 3.67 Expiry Date Exercise Price Balance March 31, 2024 Granted Exercised Cancelled / Expired Balance March 31, 2024 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 $ USD 6.25 40,000 - - - 40,000 March 13, 2026 $ 3.40 3,274 - - - 3,274 April 29, 2026 $ 3.40 - 51 - - 51 Total 49,039 51 - - 49,090 Weighted average exercise price $ 6.50 $ 3.40 $ - $ - $ 6.49 Weighted average remaining life (years) 2.94 3.51 Expiry Date Exercise Price Balance March 31, 2023 Granted Exercised Cancelled / Expired Balance March 31, 2024 July 19, 2024 $ 10.00 5,765 - - - 5,765 August 21, 2028 $ USD 6.25 - 40,000 - - 40,000 March 13, 2026 $ 3.40 - 3,274 - - 3,274 Total 5,765 43,274 - - 49,039 $ USD 6.25 Weighted average exercise price $ 10.00 $ CAD 3.40 $ - $ - $ 6.50 Weighted average remaining life (years) 2.94 |
Disclosure of derivative financial instruments [text block] | As at As at At grant date Number of warrants outstanding 800,000 800,000 800,000 Warrant price at valuation date 0.44 USD 0.61 USD 0.76 USD Exchange rate 1.36781 1.35397 1.35460 Fair value of warrants outstanding (derivative liability) $ 481,469 $ 656,946 $ 823,597 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | |
Statement Line Items [Line Items] | |
Disclosure of indirect measurement of fair value of warrants granted during period [text block] | June 30, March 31, Fair value per option $ 3.71 $ 3.77 Exercise price $ 4.00 $ 4.00 Expected life (years) 2.00 2.00 Interest rate 4.30 % 3.50 % Annualized volatility (based on historical volatility) 100.90 % 110.96 % Dividend yield 0.00 % 0.00 % June 30, March 31, Fair value per option $ 1.96 $ 7.95 Exercise price $ 3.40 $ 8.09 Expected life (years) 2.00 4.78 Interest rate 4.30 % 4.09 % Annualized volatility (based on historical volatility) 100.9 % 113.0 % Dividend yield 0.00 % 0.00 % |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of transaction with key management personnel [text block] | Management fees Consulting fees Share-based payments Total Period ended June 30, 2024 Current and former directors, officers and companies controlled by them $ 166,500 $ - $ - $ 166,500 Period ended June 30, 2023 Current and former directors, officers and companies controlled by them $ 105,000 $ 30,000 $ - $ 135,000 |
Disclosure of transactions between related parties [text block] | June 30, March 31, Current and former directors, officers and companies controlled by them $ 60,819 $ 86,980 |
Note 9 - Segmented Information
Note 9 - Segmented Information (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Statement Line Items [Line Items] | |
Disclosure of geographical areas [text block] | June 30, March 31, Exploration and evaluation assets: Canada $ 13,975,934 $ 13,336,387 United States 1,766,278 1,758,026 $ 15,742,212 $ 15,094,413 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Going Concern (Details Textual) - CAD ($) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Mar. 31, 2024 | |
Statement Line Items [Line Items] | ||
Retained earnings | $ (22,059,880) | $ (21,481,123) |
Working capital deficiency | (1,587,213) | (1,247,161) |
Revenue | $ 0 | $ 0 |
Note 4 - Exploration and Eval_3
Note 4 - Exploration and Evaluation Assets (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 24 Months Ended | 36 Months Ended | 48 Months Ended | 62 Months Ended | ||||||||||||||||||||||||||||||
Jun. 28, 2027 CAD ($) | Jun. 28, 2026 CAD ($) | Jun. 28, 2025 CAD ($) | Jun. 28, 2024 CAD ($) | Jun. 28, 2023 CAD ($) | Jun. 09, 2023 CAD ($) | Jun. 23, 2022 CAD ($) | Aug. 01, 2021 CAD ($) | Jul. 30, 2021 CAD ($) | Sep. 13, 2019 CAD ($) | Aug. 19, 2019 CAD ($) | May 17, 2017 CAD ($) | Apr. 28, 2017 CAD ($) | Oct. 31, 2022 USD ($) | Jun. 30, 2024 CAD ($) | Jun. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) | Jun. 30, 2023 CAD ($) | Jun. 30, 2024 CAD ($) | Jul. 30, 2025 CAD ($) | Jul. 30, 2024 CAD ($) | Mar. 31, 2024 CAD ($) | Mar. 31, 2024 USD ($) | Jul. 30, 2023 CAD ($) | Mar. 31, 2023 CAD ($) | Jul. 30, 2022 CAD ($) | Jul. 30, 2022 CAD ($) | Jul. 30, 2023 CAD ($) | Jul. 30, 2024 CAD ($) | Jul. 30, 2025 CAD ($) | Jun. 09, 2027 CAD ($) | Jul. 15, 2024 CAD ($) | Jun. 30, 2024 USD ($) | Mar. 31, 2024 USD ($) | Jan. 04, 2024 CAD ($) | May 17, 2017 USD ($) | Mar. 31, 2017 CAD ($) | Mar. 31, 2015 | |
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 140,895 | $ 187,849 | $ 198,829 | |||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 100,000 | 235,600 | ||||||||||||||||||||||||||||||||||||
Accrued royalty payments outstanding | 337,086 | $ 337,086 | 301,967 | |||||||||||||||||||||||||||||||||||
Transfer agent and filing fees | 34,763 | $ 39,118 | ||||||||||||||||||||||||||||||||||||
Zoro I [Member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | |||||||||||||||||||||||||||||||||||||
Cash transferred | $ 150,000 | |||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 635,000 | $ 135,000 | ||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 140,000 | 20,000 | ||||||||||||||||||||||||||||||||||||
Zoro North [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | |||||||||||||||||||||||||||||||||||||
Cash transferred | $ 250,000 | |||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 250,000 | |||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 52,656 | |||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | |||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||
Option agreement, percentage of NSR to be acquired | 50% | |||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | |||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||
Manitoba Lithium [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | |||||||||||||||||||||||||||||||||||||
Cash transferred | $ 250,000 | |||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 250,000 | |||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 54,494 | |||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | |||||||||||||||||||||||||||||||||||||
Option agreement, percentage of NSR to be acquired | 50% | |||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 1% | |||||||||||||||||||||||||||||||||||||
Option agreement, cash payment | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||
Jean Lake and Zoro Lithium properties [member] | Manitoba Grant [Member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Government grant agreement | $ 300,000 | |||||||||||||||||||||||||||||||||||||
Proceeds from government grants, classified as financing activities | 200,000 | 100,000 | ||||||||||||||||||||||||||||||||||||
Jean Lake and Zoro Lithium properties [member] | Government grant agreement one [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Proceeds from government grants, classified as financing activities | $ 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, classified as financing activities | 100,000 | |||||||||||||||||||||||||||||||||||||
Grass River Property [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 0 | 1,755 | ||||||||||||||||||||||||||||||||||||
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% | |||||||||||||||||||||||||||||||||||||
Expense arising from exploration for and evaluation of mineral resources | 853,315 | 849,406 | ||||||||||||||||||||||||||||||||||||
Option agreement, net smelter royalty percentage | 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] | ||||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 28,818 | |||||||||||||||||||||||||||||||||||||
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] | ||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 240,000 | |||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 88,000 | 88,000 | ||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 40,895 | 4,245 | ||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 0 | 0 | ||||||||||||||||||||||||||||||||||||
Option agreement, ownership interest after exercise | 80% | |||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 341,500 | |||||||||||||||||||||||||||||||||||||
Ivanhoe Emporia Claims [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 500,000 | $ 500,000 | ||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | 2% | ||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 201,535 | $ 216,855 | ||||||||||||||||||||||||||||||||||||
Payables for purchase of non-current assets | $ 361,375 | |||||||||||||||||||||||||||||||||||||
Accrued royalty payments outstanding | $ 283,645 | $ 298,465 | ||||||||||||||||||||||||||||||||||||
Ivanhoe Emporia Claims [member] | Bottom of range [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Royalty expense | $ 248,645 | $ 222,975 | ||||||||||||||||||||||||||||||||||||
Little Granite Claims [Member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 500,000 | |||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | $ 75,000 | |||||||||||||||||||||||||||||||||||||
Accrued royalty payments outstanding | 434,000 | |||||||||||||||||||||||||||||||||||||
Aggregate Consideration | 434,000 | $ 186,000 | ||||||||||||||||||||||||||||||||||||
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 | 0 | 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | $ 25,000 | 0 | $ 50,000 | $ 50,000 | ||||||||||||||||||||||||||||||||||
Jean Lake Property [member] | Major purchases of assets [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Cash transferred | $ 50,000 | |||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 50,000 | |||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 6,128 | 6,128 | 12,106 | |||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||
Lac Simard South property [member] | ||||||||||||||||||||||||||||||||||||||
Statement Line Items [Line Items] | ||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in associate | 100% | 100% | ||||||||||||||||||||||||||||||||||||
Cash transferred | $ 35,000 | |||||||||||||||||||||||||||||||||||||
Equity interests of acquirer | $ 85,600 | |||||||||||||||||||||||||||||||||||||
Number of instruments or interests issued or issuable | 10,700 | 10,700 | ||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 0 | $ 41,553 | ||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 0 | 85,600 | ||||||||||||||||||||||||||||||||||||
Transfer agent and filing fees | 0 | 6,553 | ||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||
Net Smelter Royalty Return Percentage | 2% | |||||||||||||||||||||||||||||||||||||
Purchase of exploration and evaluation assets | 0 | 1,276 | ||||||||||||||||||||||||||||||||||||
Increase (decrease) for purchase of evaluation and exploration assets | 0 | 0 | ||||||||||||||||||||||||||||||||||||
Transfer agent and filing fees | $ 0 | $ 1,276 | ||||||||||||||||||||||||||||||||||||
Cost of issuance of shares | $ 2,454 |
Note 4 - Exploration and Eval_4
Note 4 - Exploration and Evaluation Assets - Exploration Expenditures (Details) - CAD ($) | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||
Jun. 28, 2023 | Jun. 09, 2023 | Jun. 23, 2022 | Aug. 01, 2021 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Mar. 31, 2024 | Jul. 30, 2022 | |
Statement Line Items [Line Items] | |||||||||
Balance | $ 4,082,338 | $ 3,647,909 | $ 3,647,909 | ||||||
Cash | 140,895 | 187,849 | 198,829 | ||||||
Shares | 100,000 | 235,600 | |||||||
Balance | 4,323,233 | $ 4,323,233 | 4,082,338 | ||||||
Balance | 11,012,075 | 8,829,882 | 11,012,075 | 8,829,882 | |||||
Assay | 27,236 | 17,857 | |||||||
Geological, consulting, and Other | 612,311 | 2,364,336 | |||||||
Exploration cost recovery | (200,000) | (200,000) | |||||||
Balance | 11,451,622 | 11,451,622 | 11,012,075 | ||||||
Total Balance | 15,774,855 | 15,774,855 | 15,094,413 | ||||||
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 | ||||||
Balance | 6,552,532 | 4,653,559 | 6,552,532 | 4,653,559 | |||||
Assay | 27,236 | 0 | |||||||
Geological, consulting, and Other | 596,910 | 1,898,973 | |||||||
Exploration cost recovery | (300,000) | 0 | |||||||
Balance | 6,876,678 | 6,876,678 | 6,552,532 | ||||||
Total Balance | 8,786,085 | 8,786,085 | 8,461,939 | ||||||
Grass River Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 45,255 | 43,500 | 43,500 | ||||||
Cash | 0 | 1,755 | |||||||
Shares | 0 | 0 | |||||||
Balance | 45,255 | 45,255 | 45,255 | ||||||
Balance | 680,016 | 596,124 | 680,016 | 596,124 | |||||
Assay | 0 | 0 | |||||||
Geological, consulting, and Other | 0 | 83,892 | |||||||
Exploration cost recovery | 0 | 0 | |||||||
Balance | 680,016 | 680,016 | 680,016 | ||||||
Total Balance | 725,271 | 725,271 | 725,271 | ||||||
Peg North Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 400,000 | 200,000 | 200,000 | ||||||
Cash | $ 100,000 | $ 100,000 | 100,000 | 100,000 | |||||
Shares | $ 100,000 | $ 100,000 | 100,000 | 100,000 | |||||
Balance | 600,000 | 600,000 | 400,000 | ||||||
Balance | 849,406 | 660,472 | 849,406 | 660,472 | |||||
Assay | 0 | 15,188 | |||||||
Geological, consulting, and Other | 3,909 | 173,746 | |||||||
Exploration cost recovery | 0 | 0 | |||||||
Balance | 853,315 | 853,315 | 849,406 | ||||||
Total Balance | 1,453,315 | 1,453,315 | 1,249,406 | ||||||
Winston Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 1,338,793 | 1,334,548 | 1,334,548 | ||||||
Cash | 40,895 | 4,245 | |||||||
Shares | 0 | 0 | |||||||
Balance | 1,379,688 | 1,379,688 | 1,338,793 | ||||||
Balance | 419,233 | 371,909 | 419,233 | 371,909 | |||||
Assay | 0 | 0 | |||||||
Geological, consulting, and Other | 0 | 47,324 | |||||||
Exploration cost recovery | 0 | 0 | |||||||
Balance | 419,233 | 419,233 | 419,233 | ||||||
Total Balance | 1,798,921 | 1,798,921 | 1,758,026 | ||||||
Jean Lake Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 250,000 | 150,000 | 150,000 | ||||||
Cash | $ 25,000 | 0 | 50,000 | $ 50,000 | |||||
Shares | $ 25,000 | 0 | 50,000 | $ 50,000 | |||||
Balance | 250,000 | 250,000 | 250,000 | ||||||
Balance | 2,465,023 | 2,509,453 | 2,465,023 | 2,509,453 | |||||
Assay | 0 | 2,669 | |||||||
Geological, consulting, and Other | 8,492 | 152,901 | |||||||
Exploration cost recovery | 100,000 | (200,000) | |||||||
Balance | 2,573,515 | 2,573,515 | 2,465,023 | ||||||
Total Balance | 2,823,515 | 2,823,515 | 2,715,023 | ||||||
Jol Lithium Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 11,730 | 10,454 | 10,454 | ||||||
Cash | 0 | 1,276 | |||||||
Shares | 0 | 0 | |||||||
Balance | 11,730 | 11,730 | 11,730 | ||||||
Balance | 45,865 | 38,365 | 45,865 | 38,365 | |||||
Assay | 0 | 0 | |||||||
Geological, consulting, and Other | 3,000 | 7,500 | |||||||
Exploration cost recovery | 0 | 0 | |||||||
Balance | 48,865 | 48,865 | 45,865 | ||||||
Total Balance | 60,595 | 60,595 | 57,595 | ||||||
Lac Simard South property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Balance | 127,153 | 0 | 0 | ||||||
Cash | 0 | 41,553 | |||||||
Shares | 0 | 85,600 | |||||||
Balance | 127,153 | 127,153 | 127,153 | ||||||
Balance | 0 | $ 0 | 0 | 0 | |||||
Assay | 0 | 0 | |||||||
Geological, consulting, and Other | 0 | 0 | |||||||
Exploration cost recovery | 0 | 0 | |||||||
Balance | 0 | 0 | 0 | ||||||
Total Balance | $ 127,153 | $ 127,153 | $ 127,153 |
Note 4 - Exploration and Eval_5
Note 4 - Exploration and Evaluation Assets - Royalty Schedule (Details) | Jun. 30, 2024 CAD ($) |
Silver price under 5.00 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 125 |
Production royalty | 3% |
Silver price between 5.00 and 6.99 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 250 |
Production royalty | 4% |
Silver price between 7.00 and 8.99 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 500 |
Production royalty | 5% |
Silver price between 9.00 and 10.99 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 1,000 |
Production royalty | 6% |
Silver price between 11.00 and 14.99 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 1,500 |
Production royalty | 7% |
Silver price over 15.00 [member] | |
Statement Line Items [Line Items] | |
Minimum monthly royalty | $ 2,000 |
Production royalty | 8% |
Note 5 - Accounts Payable and_3
Note 5 - Accounts Payable and Accrued Liabilities (Details Textual) - CAD ($) | 3 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Mar. 31, 2024 | |
Statement Line Items [Line Items] | ||
Write-off of trade payables | $ 50,200 | $ 0 |
Gain (loss) on forgiveness of debt | $ 50,200 | $ 0 |
Note 5 - Accounts Payable and_4
Note 5 - Accounts Payable and Accrued Liabilities - Accounts Payable and Accrued Liabilities (Details) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Statement Line Items [Line Items] | ||
Trade payables | $ 1,232,541 | $ 1,101,757 |
Advance royalty payable | 337,086 | 301,967 |
Accrued liabilities | 105,034 | 91,484 |
Due to related parties (Note 8) | 60,819 | 86,980 |
Trade payables | $ 1,735,480 | $ 1,582,188 |
Note 6 - Term Loans Payable (De
Note 6 - Term Loans Payable (Details Textual) - CAD ($) | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2024 | Mar. 31, 2024 | May 01, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statement Line Items [Line Items] | |||||
Total borrowings | $ 1,138,430 | $ 1,138,520 | |||
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, classified as financing activities | $ 32,505 | $ 126,606 |
Note 6 - Term Loans Payable - S
Note 6 - Term Loans Payable - Short-term Loans Payable (Details) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Statement Line Items [Line Items] | ||
Loan payable on demand, unsecured with 10% interest per annum and no fixed term | $ 1,138,430 | $ 1,138,520 |
Short-term portion | 1,138,430 | 1,138,520 |
Long-term portion | 0 | 0 |
Loan payable on demand, unsecured with 10% interest per annum and no fixed term [member] | ||
Statement Line Items [Line Items] | ||
Loan payable on demand, unsecured with 10% interest per annum and no fixed term | 5,000 | 5,000 |
Loan payable on May 10, 2025, secured, with 11.35% interest per annum [member] | ||
Statement Line Items [Line Items] | ||
Loan payable on demand, unsecured with 10% interest per annum and no fixed term | $ 1,133,430 | $ 1,133,520 |
Note 7 - Capital Stock and Re_3
Note 7 - Capital Stock and Reserves (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 15 Months Ended | |||||
Aug. 22, 2023 CAD ($) $ / shares shares | Aug. 22, 2023 USD ($) $ / shares shares | Jun. 30, 2024 CAD ($) $ / shares shares | Jun. 30, 2023 CAD ($) | Mar. 31, 2024 CAD ($) $ / shares shares | Mar. 31, 2024 CAD ($) $ / shares shares | Jun. 30, 2024 CAD ($) $ / shares shares | Aug. 24, 2023 CAD ($) shares | Mar. 31, 2023 CAD ($) shares | |
Statement Line Items [Line Items] | |||||||||
Proceeds from issuing shares | $ 1,350,129 | $ 0 | |||||||
Payments for share issue costs | 22,869 | 0 | $ 480,415 | ||||||
Total equity | $ 13,722,691 | $ 9,980,831 | 13,209,537 | $ 13,209,537 | $ 13,722,691 | $ 10,387,622 | |||
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 | 0 | 36,000 | |||||||
Proceeds from exercise of options | $ 131,400 | ||||||||
Increase (decrease) through exercise of options, equity | $ 131,400 | ||||||||
Exercise price of outstanding share options (in CAD per share) | $ / shares | $ 4.95 | $ 4.95 | |||||||
Stock options, term (Year) | 10 years | 10 years | |||||||
Number of share options granted in share-based payment arrangement | 0 | 238,500 | |||||||
Number of share options expired in share-based payment arrangement | 80,300 | ||||||||
Share-based arrangement, payment reserve, forfeited | $ 860,158 | ||||||||
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 | |||||||
The 2023 stock incentive plan [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Share-based compensation, number of shares authorized (in shares) | shares | 850,000 | 850,000 | |||||||
Options issued to consultant one [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 17,500 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 5.65 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 3 years | ||||||||
Share-based payment arrangement, options, fair value | $ 60,200 | $ 60,200 | |||||||
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 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement (in CAD per share) | $ / shares | $ 3.65 | ||||||||
Share-based payment arrangement, options, fair value | 53,400 | $ 53,400 | |||||||
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 officer [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 | $ 3.98 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 5 years | ||||||||
Share-based payment arrangement, options, fair value | 66,600 | $ 66,600 | |||||||
Options issued to consultant three [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 | $ 3.3 | ||||||||
Share-based payment arrangement, award vesting period (Year) | 2 years | ||||||||
Share-based payment arrangement, options, fair value | 66,600 | $ 66,600 | |||||||
Performance stock options [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options expired in share-based payment arrangement | 15,000 | ||||||||
Total expense from share-based payment transactions | $ 0 | $ 0 | |||||||
Warrants issued in public offering [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 6.25 | ||||||||
Class of warrant or right, granted, value | 270,400 | ||||||||
Class of warrant or right, number of securities called by each warrant or right (in shares) | shares | 1 | ||||||||
Warrants and rights outstanding, term (Year) | 5 years | 5 years | |||||||
Derivative financial liabilities | $ 823,597 | $ 656,946 | 656,946 | ||||||
Total gains (losses) on financial liabilities at fair value through profit or loss | $ 166,651 | ||||||||
Class of warrant or right, granted (in shares) | shares | 40,000 | ||||||||
Underwriter warrants [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, granted (in shares) | shares | 40,000 | 40,000 | |||||||
Total equity | $ 270,400 | ||||||||
Unit warrants expiring August 24, 2028 [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right outstanding 1 (in shares) | shares | 800,000 | 800,000 | 800,000 | 800,000 | 800,000 | 0 | |||
Class of warrants or rights outstanding, value | $ 481,469 | $ 656,946 | $ 656,946 | $ 481,469 | $ 823,597 | ||||
Unit warrants expiring April 29, 2026 [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right outstanding 1 (in shares) | shares | 247,471 | 0 | 0 | 247,471 | |||||
Class of warrants or rights outstanding, value | $ 480,000 | $ 480,000 | |||||||
Unit warrants expiring March 13, 2026 [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right outstanding 1 (in shares) | shares | 341,592 | 341,592 | 341,592 | 341,592 | 0 | ||||
Class of warrants or rights outstanding, value | $ 377,911 | $ 377,911 | |||||||
Agent warrants [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, granted, value | $ 100 | ||||||||
Class of warrant or right, granted (in shares) | shares | 51 | ||||||||
Class of warrant or right outstanding 1 (in shares) | shares | 49,090 | 49,039 | 49,039 | 49,090 | 5,765 | ||||
Agent warrants [member] | Certain underwriters or agents [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of warrants issued during the period (in shares) | shares | 51 | 40,000 | |||||||
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 | 28,818 | 13,072 | |||||||
Increase (decrease) in equity, evaluation and exploration assets option agreement | $ 100,000 | $ 100,000 | |||||||
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 | ||||||||
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 | ||||||||
Tranche 2 of private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Cash finder's fees paid | 175 | ||||||||
Legal and filing fees | 22,869 | ||||||||
Flow-through premium liability | 57,012 | $ 57,012 | |||||||
Warrant premium | 480,000 | 480,000 | |||||||
Commitment to incur expenses | 1,455,129 | $ 1,455,129 | |||||||
Qualifying CEE | $ 117,839 | ||||||||
Tranche 2 of private placement [member] | Flow-through shares issued in private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of instruments granted in share-based payment arrangement | 247,471 | ||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 5.88 | $ 5.88 | |||||||
Proceeds from exercise of warrants | $ 1,455,129 | 105,000 | |||||||
Tranche 2 of private placement [member] | Warrants issued in non-brokered private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 4 | 4 | |||||||
Weighted average trading price (in CAD per share) | $ / shares | 6 | 6 | |||||||
Tranche 2 of private placement [member] | Finders warrants [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 3.4 | $ 3.4 | |||||||
Increase (decrease) in number of shares outstanding, shares issued, share purchase finders warrants (in shares) | shares | 51 | 51 | |||||||
Class of warrant or right, granted, value | $ 100 | ||||||||
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 | |||||||
Tranche 1 of private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Cash finder's fees paid | 11,134 | ||||||||
Flow-through premium liability | $ 20,143 | 20,143 | |||||||
Warrant premium | 377,911 | 377,911 | |||||||
Commitment to incur expenses | $ 1,109,268 | $ 1,109,268 | |||||||
Qualifying CEE | $ 1,109,268 | ||||||||
Tranche 1 of private placement [member] | Flow-through shares issued in private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of instruments granted in share-based payment arrangement | 188,651 | ||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 5.88 | $ 5.88 | |||||||
Proceeds from exercise of warrants | $ 1,109,268 | ||||||||
Tranche 1 of private placement [member] | Warrants issued in non-brokered private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | 4 | $ 4 | |||||||
Weighted average trading price (in CAD per share) | $ / shares | 6 | 6 | |||||||
Tranche 1 of private placement [member] | Finders warrants [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 3.4 | $ 3.4 | |||||||
Increase (decrease) in number of shares outstanding, shares issued, share purchase finders warrants (in shares) | shares | 3,274 | 3,274 | |||||||
Class of warrant or right, granted, value | $ 9,700 | ||||||||
Tranche 1 of private placement [member] | Non-flow-through units issued in private placement [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of instruments granted in share-based payment arrangement | 152,941 | ||||||||
Class of warrant or right, exercise price of warrants or rights (in CAD per share) | $ / shares | $ 3.4 | $ 3.4 | |||||||
Proceeds from exercise of warrants | $ 520,000 |
Note 7 - Capital Stock and Re_4
Note 7 - Capital Stock and Reserves - Stock Option Transactions (Details) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2024 $ / shares | Mar. 31, 2024 $ / shares | Mar. 31, 2023 $ / shares | |
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 0 | $ 5.87 | |
Share options, balance | 333,500 | 211,300 | |
Share options, granted | 0 | 238,500 | |
Share options, exercised | 0 | (36,000) | |
Share options, forfeited | (52,500) | (80,300) | |
Share options, balance | 281,000 | 333,500 | 211,300 |
Share options, exercisable | 281,000 | 333,500 | |
Weighted average exercise price, balance (in CAD per share) | $ 7.38 | $ 10.81 | |
Weighted average exercise price, exercised (in CAD per share) | 0 | 4.7 | |
Weighted average exercise price, forfeited (in CAD per share) | 7.51 | 9.95 | |
Weighted average exercise price, balance (in CAD per share) | 7.36 | 7.38 | $ 10.81 |
Weighted average exercise price, exercisable (in CAD per share) | $ 7.36 | $ 7.38 | |
Weighted average remaining life (years) (Year) | 2 years 3 months 29 days | 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 | ||
Share options, balance | 0 | 15,000 | |
Share options, granted | 0 | ||
Share options, exercised | 0 | ||
Share options, forfeited | (15,000) | ||
Share options, balance | 0 | 15,000 | |
Share options, exercisable | 0 | ||
Weighted average exercise price, balance (in CAD per share) | $ 0 | $ 14.25 | |
Weighted average exercise price, forfeited (in CAD per share) | 14.25 | ||
Weighted average exercise price, balance (in CAD per share) | 0 | $ 14.25 | |
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 | 4,000 |
Share options, exercisable | 4,000 | 4,000 | |
Stock options expiring March 1, 2024 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 16.5 | ||
Share options, balance | 0 | 15,000 | |
Share options, granted | 0 | ||
Share options, exercised | 0 | ||
Share options, forfeited | (15,000) | ||
Share options, balance | 0 | 15,000 | |
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 | ||
Share options, balance | 0 | 15,000 | |
Share options, granted | 0 | ||
Share options, exercised | 0 | ||
Share options, forfeited | (15,000) | ||
Share options, balance | 0 | 15,000 | |
Share options, exercisable | 0 | ||
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 | 20,000 | |
Share options, granted | 0 | 0 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | 0 | |
Share options, balance | 20,000 | 20,000 | 20,000 |
Share options, exercisable | 20,000 | 20,000 | |
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 | 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 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 | 8,000 | |
Share options, granted | 0 | 0 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | 0 | |
Share options, balance | 8,000 | 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 | 6,000 | |
Share options, granted | 0 | 0 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | 0 | |
Share options, balance | 6,000 | 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 | 62,000 | |
Share options, granted | 0 | 0 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | (20,000) | 0 | |
Share options, balance | 42,000 | 62,000 | 62,000 |
Share options, exercisable | 42,000 | 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 | 21,000 | 31,000 | |
Share options, granted | 0 | 0 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | (10,000) | |
Share options, balance | 21,000 | 21,000 | 31,000 |
Share options, exercisable | 21,000 | 21,000 | |
Stock options expiring March 26, 2026 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 3.3 | $ 3.3 | |
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 | 0 |
Share options, exercisable | 20,000 | 20,000 | |
Stock options expiring August 25, 2026 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 5.65 | $ 5.65 | |
Share options, balance | 17,500 | 0 | |
Share options, granted | 0 | 17,500 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | 0 | |
Share options, balance | 17,500 | 17,500 | 0 |
Share options, exercisable | 17,500 | 17,500 | |
Stock options expiring September 6, 2026 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 6.6 | $ 6.6 | |
Share options, balance | 40,000 | 0 | |
Share options, granted | 0 | 40,000 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | 0 | 0 | |
Share options, balance | 40,000 | 40,000 | 0 |
Share options, exercisable | 40,000 | 40,000 | |
Stock options expiring January 15, 2026 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 7.25 | ||
Share options, balance | 0 | 35,300 | |
Share options, granted | 0 | ||
Share options, exercised | 0 | ||
Share options, forfeited | (35,300) | ||
Share options, balance | 0 | 35,300 | |
Share options, exercisable | 0 | ||
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 | 10,000 |
Share options, exercisable | 10,000 | 10,000 | |
Stock Options Expiring December 4, 2026 [Member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 5.47 | $ 5.47 | |
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 | 0 |
Share options, exercisable | 20,000 | 20,000 | |
Stock options expiring September 6, 2028 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 6.6 | $ 6.6 | |
Share options, balance | 85,000 | 0 | |
Share options, granted | 0 | 85,000 | |
Share options, exercised | 0 | 0 | |
Share options, forfeited | (32,500) | 0 | |
Share options, balance | 52,500 | 85,000 | 0 |
Share options, exercisable | 52,500 | 85,000 | |
Stock options expiring February 15, 2029 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 3.98 | $ 3.98 | |
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 | 0 |
Share options, exercisable | 20,000 | 20,000 | |
Stock options expiring February 16, 2027 [member] | |||
Statement Line Items [Line Items] | |||
Share options, exercise price (in CAD per share) | $ 17.5 | ||
Share options, balance | 0 | 20,000 | |
Share options, granted | 0 | ||
Share options, exercised | 0 | ||
Share options, forfeited | (20,000) | ||
Share options, balance | 0 | 20,000 | |
Share options, exercisable | 0 |
Note 7 - Capital Stock and Re_5
Note 7 - Capital Stock and Reserves - Fair Value of Stock Option Assumptions (Details) | 12 Months Ended |
Mar. 31, 2024 CAD ($) $ / shares | |
Statement Line Items [Line Items] | |
Fair value per option | $ | $ 5.42 |
Exercise price (in CAD per share) | $ / shares | $ 5.49 |
Expected life (years) | 3.5 |
Interest rate | 4.17% |
Annualized volatility (based on historical volatility) | 108% |
Dividend yield | 0% |
Note 7 - Capital Stock and Re_6
Note 7 - Capital Stock and Reserves - Summary of Warrant Transactions (Details) | 3 Months Ended | 12 Months Ended | |||||
Jun. 30, 2024 $ / shares shares | Mar. 31, 2024 $ / shares shares | Mar. 31, 2024 $ / shares shares | Mar. 31, 2024 $ / shares $ / shares shares | Mar. 31, 2023 $ / shares shares | Jun. 30, 2024 $ / shares | Mar. 31, 2024 $ / shares | |
Statement Line Items [Line Items] | |||||||
Issued, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 6.25 | ||||||
Unit warrants expiring August 24, 2028 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 6.25 | $ 6.25 | |||||
Balances, number of warrants (in shares) | 800,000 | 0 | 0 | ||||
Issued, number of warrants (in shares) | 0 | 800,000 | 800,000 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | ||||
Balances, number of warrants (in shares) | 800,000 | 800,000 | 800,000 | 800,000 | 0 | ||
March 13, 2026 (in shares) | 0 | (800,000) | (800,000) | ||||
Unit warrants expiring December 2, 2023 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 6.5 | $ 6.5 | $ 6.5 | ||||
Balances, number of warrants (in shares) | 0 | 24,000 | 24,000 | ||||
Issued, number of warrants (in shares) | 0 | 0 | |||||
Exercised, number of warrants (in shares) | 0 | 0 | |||||
Cancelled, number of warrants (in shares) | (24,000) | (24,000) | |||||
Balances, number of warrants (in shares) | 0 | 0 | 0 | 24,000 | |||
March 13, 2026 (in shares) | 0 | 0 | |||||
Agent warrants expiring July 19, 2024 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 10 | $ 10 | $ 10 | $ 10 | |||
Balances, number of warrants (in shares) | 5,765 | 5,765 | 5,765 | ||||
Issued, number of warrants (in shares) | 0 | 0 | 0 | ||||
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 | 5,765 | 5,765 | ||
March 13, 2026 (in shares) | 0 | 0 | 0 | ||||
Unit warrants expiring March 13, 2026 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 4 | $ 4 | $ 4 | $ 4 | |||
Balances, number of warrants (in shares) | 341,592 | 0 | 0 | ||||
Issued, number of warrants (in shares) | 0 | 341,592 | 341,592 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | ||||
Balances, number of warrants (in shares) | 341,592 | 341,592 | 341,592 | 341,592 | 0 | ||
March 13, 2026 (in shares) | 0 | (341,592) | (341,592) | ||||
Agent warrants expiring August 21, 2028 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 6.25 | $ 6.25 | $ 6.25 | $ 6.25 | |||
Balances, number of warrants (in shares) | 40,000 | 0 | 0 | ||||
Issued, number of warrants (in shares) | 0 | 40,000 | 40,000 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | ||||
Balances, number of warrants (in shares) | 40,000 | 40,000 | 40,000 | 40,000 | 0 | ||
March 13, 2026 (in shares) | 0 | (40,000) | (40,000) | ||||
Unit warrants expiring April 29, 2026 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 4 | ||||||
Balances, number of warrants (in shares) | 0 | ||||||
Issued, number of warrants (in shares) | 247,471 | ||||||
Exercised, number of warrants (in shares) | 0 | ||||||
Cancelled, number of warrants (in shares) | 0 | ||||||
Balances, number of warrants (in shares) | 247,471 | 0 | 0 | 0 | |||
March 13, 2026 (in shares) | (247,471) | ||||||
Agent warrants expiring March 13, 2026 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 3.4 | $ 3.4 | $ 3.4 | $ 3.4 | |||
Balances, number of warrants (in shares) | 3,274 | 0 | 0 | ||||
Issued, number of warrants (in shares) | 0 | 3,274 | 3,274 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | ||||
Balances, number of warrants (in shares) | 3,274 | 3,274 | 3,274 | 3,274 | 0 | ||
March 13, 2026 (in shares) | 0 | (3,274) | (3,274) | ||||
Agent warrants expiring April 29, 2026 [member] | |||||||
Statement Line Items [Line Items] | |||||||
warrants, exercise price (in dollars per share) | $ / shares | $ 3.4 | ||||||
Balances, number of warrants (in shares) | 0 | ||||||
Issued, number of warrants (in shares) | 51 | ||||||
Exercised, number of warrants (in shares) | 0 | ||||||
Cancelled, number of warrants (in shares) | 0 | ||||||
Balances, number of warrants (in shares) | 51 | 0 | 0 | 0 | |||
March 13, 2026 (in shares) | (51) | ||||||
Unit warrants [member] | |||||||
Statement Line Items [Line Items] | |||||||
Balances, number of warrants (in shares) | 1,141,592 | 24,000 | 24,000 | ||||
Issued, number of warrants (in shares) | 247,471 | 1,141,592 | 1,141,592 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | (24,000) | (24,000) | ||||
Balances, number of warrants (in shares) | 1,389,063 | 1,141,592 | 1,141,592 | 1,141,592 | 24,000 | ||
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 5.58 | $ 6.5 | |||||
Issued, warrants, weighted average exercise price (in CAD per share) | (per share) | 4 | $ 5.58 | |||||
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 | $ 6.5 | 6.5 | $ 6.5 | |||
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 5.3 | $ 5.58 | $ 5.58 | $ 6.5 | |||
Weighted average remaining life (years) (Year) | 3 years 1 month 20 days | 3 years 8 months 1 day | 3 years 8 months 1 day | 8 months 1 day | |||
March 13, 2026 (in shares) | (247,471) | (1,141,592) | (1,141,592) | ||||
Agent warrants [member] | |||||||
Statement Line Items [Line Items] | |||||||
Balances, number of warrants (in shares) | 49,039 | 5,765 | 5,765 | ||||
Issued, number of warrants (in shares) | 51 | 43,274 | 43,274 | ||||
Exercised, number of warrants (in shares) | 0 | 0 | 0 | ||||
Cancelled, number of warrants (in shares) | 0 | 0 | 0 | ||||
Balances, number of warrants (in shares) | 49,090 | 49,039 | 49,039 | 49,039 | 5,765 | ||
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 6.5 | $ 10 | |||||
Issued, warrants, weighted average exercise price (in CAD per share) | $ / shares | 3.4 | 3.4 | |||||
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 | $ 0 | |||
Balances, warrants, weighted average exercise price (in CAD per share) | $ / shares | $ 6.49 | $ 6.5 | $ 6.5 | $ 10 | |||
Weighted average remaining life (years) (Year) | 3 years 6 months 3 days | 2 years 11 months 8 days | 2 years 11 months 8 days | 2 years 11 months 8 days | |||
March 13, 2026 (in shares) | (51) | (43,274) | (43,274) |
Note 7 - Capital Stock and Re_7
Note 7 - Capital Stock and Reserves - Warrant Derivative Liability (Details) | Jun. 30, 2024 CAD ($) shares | Jun. 30, 2024 $ / shares | Mar. 31, 2024 CAD ($) shares | Mar. 31, 2024 $ / shares | Aug. 24, 2023 CAD ($) shares | Aug. 24, 2023 $ / shares | Mar. 31, 2023 shares |
Statement Line Items [Line Items] | |||||||
Exchange rate | 1.36781 | 1.35397 | 1.3546 | ||||
Unit warrants expiring August 24, 2028 [member] | |||||||
Statement Line Items [Line Items] | |||||||
Number of warrants outstanding (in shares) | shares | 800,000 | 800,000 | 800,000 | 0 | |||
Warrant price at valuation date (in dollars per share) | $ / shares | $ 0.44 | $ 0.61 | $ 0.76 | ||||
Fair value of warrants outstanding (derivative liability) | $ | $ 481,469 | $ 656,946 | $ 823,597 |
Note 7 - Capital Stock and Re_8
Note 7 - Capital Stock and Reserves - Weighted Average Assumptions (Details) | Jun. 30, 2024 | Mar. 31, 2024 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Fair value of option [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 3.71 | 3.77 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Exercise Price [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 4 | 4 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Expected life [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 2 | 2 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Interest rate, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 0.043 | 0.035 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Historical volatility for shares, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 1.009 | 1.1096 |
Unit warrants expiring on both March 13, 2026 and April 29, 2026 [member] | Dividend yield [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 0 | 0 |
Agent warrants [member] | Fair value of option [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 1.96 | 7.95 |
Agent warrants [member] | Exercise Price [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 3.4 | 8.09 |
Agent warrants [member] | Expected life [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 2 | 4.78 |
Agent warrants [member] | Interest rate, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 0.043 | 0.0409 |
Agent warrants [member] | Historical volatility for shares, measurement input [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 1.009 | 1.13 |
Agent warrants [member] | Dividend yield [member] | ||
Statement Line Items [Line Items] | ||
Assumptions | 0 | 0 |
Note 8 - Related Party Transa_3
Note 8 - Related Party Transactions - Transaction with Key Management Personnel (Details) - CAD ($) | 3 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | $ 166,500 | $ 135,000 |
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 | 0 | 0 |
Current and former directors, officers and companies controlled by them | 166,500 | 135,000 |
Current and former directors, officers and companies controlled by them [member] | Management Personnel [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | 166,500 | 105,000 |
Current and former directors, officers and companies controlled by them [member] | Consulting Personnel [member] | ||
Statement Line Items [Line Items] | ||
Current and former directors, officers and companies controlled by them | $ 0 | $ 30,000 |
Note 8 - Related Party Transa_4
Note 8 - Related Party Transactions - Transaction Between Related Parties (Details) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
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 | $ 60,819 | $ 86,980 |
Note 9 - Segmented Informatio_2
Note 9 - Segmented Information (Details Textual) | 3 Months Ended |
Jun. 30, 2024 | |
Statement Line Items [Line Items] | |
Number of reportable operating segments | 1 |
Note 9 - Segmented Informatio_3
Note 9 - Segmented Information - Geographic Information (Details) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | $ 15,742,212 | $ 15,094,413 |
Canada 1 [member] | ||
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | 13,975,934 | 13,336,387 |
United States 1 [member] | ||
Statement Line Items [Line Items] | ||
Exploration and evaluation assets | $ 1,766,278 | $ 1,758,026 |
Note 10 - Financial Risk Mana_2
Note 10 - Financial Risk Management (Details Textual) - CAD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Statement Line Items [Line Items] | ||
Cash | $ 515,824 | $ 998,262 |
Current liabilities | $ 2,926,305 | $ 2,732,374 |
Note 11 - Supplemental Disclo_2
Note 11 - Supplemental Disclosures With Respect to Cash Flows (Details Textual) - CAD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2024 | |
Statement Line Items [Line Items] | ||||
Adjustments for increase (decrease) in accounts payable and accrued liabilities | $ 1,045,607 | $ 670,068 | ||
Increase (decrease) in number of shares outstanding, acquisition of exploration and evaluation assets (in shares) | 28,818 | 29,900 | ||
Acquisition of exploration and evaluation assets | $ 100,000 | $ 185,600 | $ 50,000 | $ 235,600 |
Increase (decrease) in number of shares outstanding, issued for services (in shares) | 30,900 | |||
Issue of equity, shares issued for services | $ 187,872 | |||
Agent warrants [member] | ||||
Statement Line Items [Line Items] | ||||
Class of warrant or right, granted (in shares) | 51 | |||
Class of warrant or right, granted, value | $ 100 | |||
Warrants issued in public offering [member] | ||||
Statement Line Items [Line Items] | ||||
Class of warrant or right, granted (in shares) | 40,000 | |||
Class of warrant or right, granted, value | $ 270,400 |
Note 12 - Subsequent Event (Det
Note 12 - Subsequent Event (Details Textual) | 3 Months Ended | 12 Months Ended | |||||||
Jul. 31, 2024 $ / shares | Jul. 31, 2024 $ / shares | Jun. 30, 2024 $ / shares | Mar. 31, 2024 $ / shares | Jul. 30, 2024 | Jul. 15, 2024 CAD ($) | Jul. 30, 2023 | Jul. 30, 2022 | Aug. 01, 2021 | |
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 0 | 238,500 | |||||||
Exercise price, share options granted (in CAD per share) | $ / shares | $ 0 | $ 5.87 | |||||||
Option life, share options granted | 3.5 | ||||||||
Potential ordinary share transactions [member] | Options to MZHCI LLC [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 36,000 | 36,000 | |||||||
Exercise price, share options granted (in CAD per share) | (per share) | $ 3.91 | $ 2.84 | |||||||
Option life, share options granted | 5 | 5 | |||||||
Jean Lake Property [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Number of instruments or interests issued or issuable | 6,128 | 6,704 | 5,000 | ||||||
Jean Lake Property [member] | Major purchases of assets [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Cash transferred | $ 50,000 | ||||||||
Number of instruments or interests issued or issuable | 6,128 | 12,106 | |||||||
Equity interests of acquirer | $ 50,000 |