Thunder Mountain Gold (THMG) 10-Q 14 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document and Entity Information
Entity Registrant Name	Thunder Mountain Gold Inc
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Entity Central Index Key	711034
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		44,167,549

Thunder_Mountain_Gold_Inc_Cons

Thunder Mountain Gold, Inc. Consolidated Balance Sheets (interim period unaudited) (USD $)	Mar. 31, 2015		Dec. 31, 2014
Current assets:
Cash and cash equivalents	$125,795		$31,992
Prepaid expenses and other assets	8,900		15,926
Total current assets	134,695		47,918
Other assets:
Investment in Owyhee Gold Trust LLC joint venture	479,477		479,477
Total assets	614,172		527,395
Current liabilities:
Accounts payable and other accrued liabilities	86,110		77,775
Convertible notes payable, net of discount	44,218	[1]	38,435	[1]
Total current liabilities	130,328		116,210
Commitments and contingencies	0	[2]	0	[2]
Stockholders' equity:
Preferred stock; $0.001 par value, 5,000,000 shares authorized; no shares issued or outstanding	0		0
Common stock; $0.001 par value; 200,000,000 shares authorized; 44,167,549 and 40,167,549 shares issued and outstanding, respectively	44,168		40,168
Additional paid-in capital	4,125,071		3,869,071
Less: 11,700 shares of treasury stock, at cost	-24,200		-24,200
Stock subscription receivable			-50,000
Accumulated deficit	-3,661,195		-3,423,854
Total stockholders' equity	483,844		411,185
Total liabilities and stockholders' equity	$614,172		$527,395
[1]	Note 4
[2]	Note 2

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of financial position
Preferred Stock, Par Value	$0.00	$0.00
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	44,167,549	40,167,549
Common Stock, Shares Outstanding	44,167,549	40,167,549

Thunder_Mountain_Gold_Inc_Cons1

Thunder Mountain Gold, Inc. Consolidated Statements of Operations-(Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Expenses:
Exploration expenses	$4,664	$4,820
Legal and accounting	133,281	41,241
Management and administrative	75,006	18,914
Total expenses	212,951	64,975
Other income (expense):
Interest expense	-24,390	-500
Total other income (expense)	-24,390	-500
Net loss	($237,341)	($65,475)
Net loss per common share-basic and diluted	($0.01)	$0
Weighted average common shares outstanding-basic and diluted	41,411,993	31,333,321

Thunder_Mountain_Gold_Inc_Cons2

Thunder Mountain Gold, Inc. Consolidated Statements of Cash Flows- Unaudited (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Cash flows from operating activities:
Net income loss	($237,341)		($65,475)
Adjustments to reconcile net loss to net cash used by operating activities:
Common stock, warrants and options issued for services	60,000	15,000
Amortization of notes payable discount	5,782
Change in:
Prepaid expenses and other assets	7,026		4,121
Accounts payable and other liabilities	8,336		5,504
Net cash used by operating activities	-156,197		-55,850
Cash flows from financing activities:
Proceeds from sale of common stock and warrants, net of offering costs	250,000		122,000
Payments on related party notes payable			-25,000
Net cash provided by financing activities	250,000		97,000
Net increase in cash and cash equivalents	93,803		41,150
Cash and cash equivalents, beginning of period	31,992		35,882
Cash and cash equivalents, end of period	$125,795	$31,992	$77,032

1_Summary_of_Significant_Accou

1. Summary of Significant Accounting Policies and Business Operations	3 Months Ended
	Mar. 31, 2015
Notes
1. Summary of Significant Accounting Policies and Business Operations	1.   Summary of Significant Accounting Policies and Business Operations
	Business Operations
	Thunder Mountain Gold, Inc. (“Thunder Mountain” or “the Company”) was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc.  In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company’s activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today.
	Basis of Presentation and Going Concern
	The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to the Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of our management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015 For further information refer to the financial statements and the footnotes thereto in our Annual Report on Form 10-K for the year ended December 31, 2014.
	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2015 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is currently investigating a number of alternatives for raising additional capital with potential investors, lessees and joint venture partners.
	The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis was not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.
	Reclassifications
	Certain reclassifications have been made to conform prior period’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity or cash flows.
	Accounting Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral claims, environmental remediation liabilities, deferred tax assets, stock options granted and the fair value of financial and derivative instruments. Management’s estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.
	Cash and cash equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent.
	Investments in Joint Venture
	The Company’s accounting policy for joint ventures is as follows:
	1.                  The Company uses the cost method when it does not have joint control or significant influence in a joint venture. Under the cost method, these investments are carried at cost. If other than temporary impairment in value is determined, it would then be charged to current net income or loss.
	2.                  If the Company enters into a joint venture in which there is joint control between the parties or the Company has significant influence, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. If other than temporary impairment in value is determined, it would then be charged to current net income or loss.
	In a joint venture where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest.  In determining whether significant influences exist, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee.
	Share-Based Compensation
	Share-based payments to employees and directors, including grants of employee stock options are measured at fair value and expensed in the statement of operations over the vesting period.
	Net Income (Loss) Per Share
	The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS.  Basic EPS is computed as net income divided by the weighted average number of common shares outstanding for the
	period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company’s common stock.
	As of March 31, 2015 and 2014, the remaining potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are:
	For the period ended March 31,	2015	2014
	Stock options	3,990,000	2,990,000
	Warrants	5,015,000	1,885,000
	Total possible dilution	9,005,000	4,875,000

2_Commitments

2. Commitments	3 Months Ended
	Mar. 31, 2015
Notes
2. Commitments	2.  Commitments
	On March 21, 2011, the Company signed an exploration agreement with Newmont Mining Corporation (“Newmont”) on the Trout Creek Project that significantly expands the Trout Creek target area. Newmont’s private mineral package added to the Project surrounds the Company’s South Mountain claim group and consists of about 9,565 acres within a thirty-square mile Area of Influence defined in the agreement.  Under the terms of the agreement, the Company is responsible for conducting the exploration program and is obligated to expend a minimum of $150,000 over the ensuing two years, with additional expenditures possible in future years.  In late 2014, Newmont agreed to extend the date for completion of the work commitment, and is redrafting the agreement to allow the Company additional time to conduct the exploration.

3_South_Mountain_Project_LLC

3. South Mountain Project LLC	3 Months Ended
	Mar. 31, 2015
Notes
3. South Mountain Project LLC	3.           South Mountain Project LLC
	On November 8, 2012, the Company and Idaho State Gold Company, LLC (“ISGC”) formed the Owyhee Gold Trust, LLC, (“OGT”) a limited liability company.  The Company’s contribution for its membership units was its South Mountain Mine property and related mining claims located in southwestern Idaho in Owyhee County which was valued at $479,477 at the date of contribution. As its initial contribution to OGT, ISGC was to fund operations totaling $18 million; or $8 million if the Company exercises its option to participate pro-rata after ISGC expends $8 million. Upon payment of $1 million, and a work commitment of $2 million in pre-determined qualifying expenditures not later than March 31, 2015, ISGC will receive 2,000 units representing a vested 25% ownership. As of March 31, 2015, the Company has not issued any ownership units. At March 31, 2015, the company is managing the joint venture and the project is on a care and maintenance status.

Related_Party_Transactions_Dis

Related Party Transactions Disclosure	3 Months Ended
	Mar. 31, 2015
Notes
Related Party Transactions Disclosure	4.           Convertible Notes Payable
	On December 9, 2014 the Company executed two promissory notes payable to directors, Eric Jones and Jim Collard. The amount of the notes was $25,000 each for a total of $50,000, and identical in terms. The interest rate on these notes is 10% per month of the principal balance. The notes are due in full no later than July 1, 2015, and have a minimum amount due of 5 months of interest if the notes are paid back earlier. Interest expense recorded in connection with these notes was $18,530 during the quarter ended March 31, 2015.
	The convertible notes contained a beneficial conversion feature of $13,492 which was recognized as a discount on the notes on the date of issuance. The discount was amortized over the note term using the straight-line method, which approximates the effective interest method. For the three months ended March 31, 2015, the Company recorded $5,782 in interest expense related to the amortization of the discount.

5_Stockholders_Equity

5. Stockholders' Equity	3 Months Ended
	Mar. 31, 2015
Notes
5. Stockholders' Equity	5.         Stockholders’ Equity
	The Company’s common stock has a par value of $0.001 with 200,000,000 shares authorized. The Company also has 5,000,000 authorized shares of preferred stock with a par value of $0.0001.
	On October 3, 2013, the Board of Directors approved a Private Placement financing of up to 5,000,000 units of the Company (“Unit”) at a price of $0.05 per Unit for gross proceeds of up to $250,000.  Each Unit consists of one share of the Company’s common stock and one-half of one common share purchase warrant.  Each whole warrant entitles the holder to purchase one additional share of common stock of the Company at a price of $0.15 for a period of 18 months.
	Pursuant to a Selling Agreement, the Selling Agent was entitled to compensation in the following form: (a) a cash commission equal to 10% of the price of the Units sold; (b) an additional cash commission of 10% of gross proceeds received from the exercise of Warrants issued as part of such Units or any other equity investment made by investors introduced by the Agent within a 24 month period following closing; and (c) non-transferable broker warrants to purchase a number of additional Units equal to 5% of Units sold by the Agent in the initial offering.
	The Agent Warrants have the same exercise price and terms as the Warrants.  Through December 31, 2014, 15,000 agent warrants have been issued, and $1,500 in commissions were paid based on the sale of 300,000 shares.
	Through December 31, 2014 the Company received $460,000 in gross proceeds from the Private Placement, issuing a total 9,240,000 in common stock and 4,620,000 common stock purchase warrants.
	For the year ended December 31, 2014, the Company received $417,000 in gross proceeds, issued 8,340,000 in shares of common stock and 4,170,000 common stock purchase warrants.
	In the 4th Quarter ending December 31, 2014, the Company awarded 300,000 in common shares and 150,000 common stock purchase warrants, in lieu of $15,000 cash for Professional services, legal and accounting.
	Pixellight of Boise, Idaho developed photos to be used in advertising and brochures by Thunder Mountain Gold. On October 1, 2014, in lieu of payment on account of $3,000, Pixellight elected to participate in the private placement, and received 60,000 common shares and 30,000 common stock purchase warrants.
	On February 28, 2015, the Company entered into a subscription agreement with a two individuals whereby the company sold 4,000,000 shares at US $0.05 per share. There were no warrants associated with the subscriptions. As of March 15, 2015, the Company has issued the 4,000,000 shares under this agreement, and the placement is closed.

6_Stock_Options

6. Stock Options	3 Months Ended
	Mar. 31, 2015
Notes
6. Stock Options	6.           Stock Options
	The Company has established a Stock Option Incentive Plan (“SIP”) to authorize the granting of stock options up to 10 percent of the total number of issued and outstanding shares of common stock to employees, directors and consultants. Upon exercise of options, shares are issued from the available authorized shares of the Company.  Option awards are generally granted with an exercise price equal to the fair market value of the Company’s stock at the date of grant.
	On February 6, 2015, the Board approved a grant of one million options to purchase shares of common stock under the SIP to Directors, Executive Officers and other non-employees consultants. The granted options have been valued and recorded using the Black Scholes model. The Black Scholes calculation on the 1,000,000 options that were issued was a fair value of $0.06 per option ($60,000 in total). The option certificates reflected the actual date of the issuance of February 6, 2015.  The SIP was approved by shareholder vote during the January 20, 2015 annual shareholder meeting. The options were fully vested and recognized in the quarter ended March 31, 2015.
	The fair value of each option award was estimated on the date of the grant using the assumptions noted in the following table:
	Stock price	$           0.06
	Exercise price	$           0.06
	Expected volatility	224.20%
	Expected dividends	-
	Expected terms (in years)	5
	Risk-free rate	1.48%
	Expected forfeiture rate	-
	The following is a summary of the Company’s options issued under the Stock Option Incentive Plan;
		Shares	Weighted Average Exercise Price
	Outstanding at December 31, 2013 and 2014	2,990,000	$             0.21
	Granted in 2015	1,000,000	0.06
	Outstanding and exercisable at March 31, 2015	3,990,000	$             0.17
	The average remaining contractual term of the options outstanding and exercisable at March 31, 2015 was 3.24 years.  As of March 31, 2015 options outstanding and exercisable had an aggregate intrinsic value of $10,000.

1_Summary_of_Significant_Accou1

1. Summary of Significant Accounting Policies and Business Operations: Reclassifications (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Reclassifications	Reclassifications
	Certain reclassifications have been made to conform prior period’s data to the current presentation. These reclassifications have no effect on previously reported operations, stockholders’ equity or cash flows.

1_Summary_of_Significant_Accou2

1. Summary of Significant Accounting Policies and Business Operations: Accounting Estimates (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Accounting Estimates	Accounting Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include the carrying value of properties and mineral claims, environmental remediation liabilities, deferred tax assets, stock options granted and the fair value of financial and derivative instruments. Management’s estimates and assumptions are based on historical experience and other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.

1_Summary_of_Significant_Accou3

1. Summary of Significant Accounting Policies and Business Operations: Cash and Cash Equivalents (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Cash and Cash Equivalents	Cash and cash equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent.

1_Summary_of_Significant_Accou4

1. Summary of Significant Accounting Policies and Business Operations: Investments in Joint Venture (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Investments in Joint Venture	Investments in Joint Venture
	The Company’s accounting policy for joint ventures is as follows:
	1.                  The Company uses the cost method when it does not have joint control or significant influence in a joint venture. Under the cost method, these investments are carried at cost. If other than temporary impairment in value is determined, it would then be charged to current net income or loss.
	2.                  If the Company enters into a joint venture in which there is joint control between the parties or the Company has significant influence, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. If other than temporary impairment in value is determined, it would then be charged to current net income or loss.
	In a joint venture where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of non-controlling interest.  In determining whether significant influences exist, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee.

1_Summary_of_Significant_Accou5

1. Summary of Significant Accounting Policies and Business Operations: Share-based Compensation (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Share-based Compensation	Share-Based Compensation
	Share-based payments to employees and directors, including grants of employee stock options are measured at fair value and expensed in the statement of operations over the vesting period.

1_Summary_of_Significant_Accou6

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share (Policies)	3 Months Ended
	Mar. 31, 2015
Policies
Net Income (loss) Per Share	Net Income (Loss) Per Share
	The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS.  Basic EPS is computed as net income divided by the weighted average number of common shares outstanding for the
	period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents, including warrants to purchase the Company’s common stock.
	As of March 31, 2015 and 2014, the remaining potentially dilutive common stock equivalents not included in the calculation of diluted earnings per share as their effect would have been anti-dilutive are:
	For the period ended March 31,	2015	2014
	Stock options	3,990,000	2,990,000
	Warrants	5,015,000	1,885,000
	Total possible dilution	9,005,000	4,875,000

1_Summary_of_Significant_Accou7

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Tables/Schedules
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
	For the period ended March 31,	2015	2014
	Stock options	3,990,000	2,990,000
	Warrants	5,015,000	1,885,000
	Total possible dilution	9,005,000	4,875,000

6_Stock_Options_Schedule_of_Sh

6. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	3 Months Ended
	Mar. 31, 2015
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
	Stock price	$           0.06
	Exercise price	$           0.06
	Expected volatility	224.20%
	Expected dividends	-
	Expected terms (in years)	5
	Risk-free rate	1.48%
	Expected forfeiture rate	-

6_Stock_Options_Schedule_of_Sh1

6. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Tables)	3 Months Ended
	Mar. 31, 2015
Tables/Schedules
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value
		Shares	Weighted Average Exercise Price
	Outstanding at December 31, 2013 and 2014	2,990,000	$             0.21
	Granted in 2015	1,000,000	0.06
	Outstanding and exercisable at March 31, 2015	3,990,000	$             0.17

1_Summary_of_Significant_Accou8

1. Summary of Significant Accounting Policies and Business Operations (Details)	3 Months Ended
	Mar. 31, 2015
Details
Nature of Operations	Business Operations Thunder Mountain Gold, Inc. (“Thunder Mountain” or “the Company”) was originally incorporated under the laws of the State of Idaho on November 9, 1935, under the name of Montgomery Mines, Inc. In April 1978, the Montgomery Mines Corporation was obtained by a group of the Thunder Mountain property holders and changed its name to Thunder Mountain Gold, Inc., with the primary goal to further develop their holdings in the Thunder Mountain Mining District, located in Valley County, Idaho. Thunder Mountain Gold, Inc. takes its name from the Thunder Mountain Mining District, where its principal lode mining claims were located. For several years, the Company’s activities were restricted to maintaining its property position and exploration activities. During 2005, the Company sold its holdings in the Thunder Mountain Mining District. During 2007, the Company acquired the South Mountain Mines property in southwest Idaho and initiated exploration activities on that property, which continue today.
Basis of Accounting	Basis of Presentation and Going Concern The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to the Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of our management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2015 For further information refer to the financial statements and the footnotes thereto in our Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2015 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is currently investigating a number of alternatives for raising additional capital with potential investors, lessees and joint venture partners. The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis was not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.
Substantial Doubt about Going Concern	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2015 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties. Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is currently investigating a number of alternatives for raising additional capital with potential investors, lessees and joint venture partners.
Substantial Doubt about Going Concern, Conditions or Events	The Company is an exploration stage company and has historically incurred losses and does not have sufficient cash at March 31, 2015 to fund normal operations for the next 12 months. The Company has no recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements.
Substantial Doubt about Going Concern, Management's Evaluation	The Company’s plans for the long-term return to and continuation as a going concern include financing the Company’s future operations through sales of its common stock and/or debt and the eventual profitable exploitation of its mining properties.

1_Summary_of_Significant_Accou9

1. Summary of Significant Accounting Policies and Business Operations: Net Income (loss) Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Details
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	$3,990,000	$2,990,000
Warrants	5,015,000	1,885,000
Dilutive Securities, Effect on Basic Earnings Per Share	$9,005,000	$4,875,000

3_South_Mountain_Project_LLC_D

3. South Mountain Project LLC (Details) (USD $)	0 Months Ended
	Nov. 09, 2012
Details
Contribution of Property	$479,477

Related_Party_Transactions_Dis1

Related Party Transactions Disclosure (Details) (USD $)	0 Months Ended	3 Months Ended		12 Months Ended
	Dec. 09, 2014	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2014
Details
Increase (Decrease) Due from Other Related Parties			$50,000
Debt Instrument, Interest Rate During Period				10.00%
Interest Expense, Debt		18,530
Debt Instrument, Convertible, Beneficial Conversion Feature	13,492
Amortization of Debt Discount (Premium)		$5,782

5_Stockholders_Equity_Details

5. Stockholders' Equity (Details) (USD $)	3 Months Ended		12 Months Ended	15 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2014	Feb. 28, 2015	Feb. 06, 2015
Details
Common Stock, Par Value	$0.00	$0.00	$0.00	$0.00
Common Stock, Shares Authorized	200,000,000	200,000,000	200,000,000	200,000,000
Preferred Stock, Shares Authorized	5,000,000	5,000,000	5,000,000	5,000,000
Preferred Stock, Par Value	$0.00	$0.00	$0.00	$0.00
PrivatePlacementTextBlock	On October 3, 2013, the Board of Directors approved a Private Placement financing of up to 5,000,000 units of the Company (“Unit”) at a price of $0.05 per Unit for gross proceeds of up to $250,000. Each Unit consists of one share of the Company’s common stock and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional share of common stock of the Company at a price of $0.15 for a period of 18 months.
AgentWarrantsIssued	15,000
Payments for Commissions	$1,500
Proceeds from Issuance of Private Placement			417,000	460,000
Private placement stock issued			8,340,000	9,240,000
Private placement warrants issued			4,170,000	4,620,000
Stock Issued During Period, Shares, Issued for Services		300,000
Common stock purchase warrants issued for services		150,000
Common stock, warrants and options issued for services	60,000	15,000
StockIssuedForAccountsPayable			$3,000
StockIssuedForAccountsPayableStock			60,000
Warrants issued for accounts payable, warrants			30,000
Stock Issued During Period, Shares, New Issues	4,000,000
Sale of Stock, Price Per Share					$0.05	$0.06
Stock Issued During Period, Shares, New Issues	4,000,000

6_Stock_Options_Details

6. Stock Options (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Feb. 28, 2015	Feb. 06, 2015
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	1,000,000
Sale of Stock, Price Per Share		$0.05	$0.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value	$60,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 2 months 26 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$10,000

6_Stock_Options_Schedule_of_Sh2

6. Stock Options: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Feb. 28, 2015	Feb. 06, 2015
Details
Sale of Stock, Price Per Share		$0.05	$0.06
Fair Value Assumptions, Exercise Price			$0.06
Fair Value Assumptions, Expected Volatility Rate	224.20%
Fair Value Assumptions, Expected Term	5 years
Fair Value Assumptions, Risk Free Interest Rate	1.48%

6_Stock_Options_Schedule_of_Sh3

6. Stock Options: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,990,000	2,990,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.17	$0.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	1,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$0.06