Docoh
Loading...

DHGC Desert Hawk Gold

Document And Entity Information

Document And Entity Information - shares9 Months Ended
Sep. 30, 2021Nov. 16, 2021
Document Information Line Items
Entity Registrant NameDesert Hawk Gold Corp.
Trading SymbolDHGC
Document Type10-Q
Current Fiscal Year End Date--12-31
Entity Common Stock, Shares Outstanding26,831,603
Amendment Flagfalse
Entity Central Index Key0001168081
Entity Current Reporting StatusYes
Entity Filer CategoryNon-accelerated Filer
Document Period End DateSep. 30,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ3
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Document Quarterly Reporttrue
Document Transition Reportfalse
Entity File Number333-169701
Entity Incorporation, State or Country CodeNV
Entity Tax Identification Number82-0230997
Entity Address, Address Line One1290 Holcomb Ave.
Entity Address, City or TownReno
Entity Address, State or ProvinceNV
Entity Address, Postal Zip Code89502
City Area Code(775)
Local Phone Number337-8057
Entity Interactive Data CurrentYes
Security Exchange NameNONE
Title of 12(b) SecurityN/A

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)Sep. 30, 2021Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents $ 471,843 $ 173,287
Accounts receivable59,675
Inventories (NOTE 4 )4,269,824 5,341,997
Prepaid expenses and other current assets32,154 18,713
TOTAL CURRENT ASSETS4,833,496 5,533,997
INVENTORIES (NOTE 4 )1,466,297 1,505,020
PROPERTY AND EQUIPMENT, net (NOTE 5)4,973,976 5,389,660
MINERAL PROPERTIES AND INTERESTS, net (NOTE 6)3,707,316 3,785,868
RECLAMATION BONDS (NOTE 3)947,084 758,011
TOTAL ASSETS15,928,169 16,972,556
CURRENT LIABILITIES:
Accounts payable and accrued liabilities306,242 1,459,605
Royalties and upside participation payable (NOTE 7)1,718,150 798,257
Accrued liabilities – officers and other wages (NOTE 13)117,159 71,697
Notes payable – equipment, current portion (NOTE 8)677,934 981,759
Settlement of consulting contract payable200,000 200,000
Prepaid forward gold contract liability, current portion (NOTE 7)11,053,494 3,336,618
Due to PDK in lieu of gold deliveries (NOTE 7)4,404,500
TOTAL CURRENT LIABILITIES18,477,479 6,847,936
LONG-TERM LIABILITIES
Note payable – equipment, net of current portion (NOTE 8)119,071 226,427
Asset retirement obligation (NOTE 9)1,331,808 1,233,514
Prepaid forward gold contract liability (NOTE 7)10,263,382
TOTAL LONG-TERM LIABILITIES1,450,879 11,723,323
TOTAL LIABILITIES19,928,358 18,571,259
COMMITMENTS AND CONTINGENCIES (NOTE 4, 7 AND 13)
STOCKHOLDERS’ EQUITY
Preferred Stock, $.001 par value; 10,000,000 shares authorized, none issued or outstanding
Common Stock, $.001 par value; 100,000,000 shares authorized; 26,831,603 and 26,831,603 shares issued and outstanding, respectively26,833 26,833
Additional paid-in capital9,666,275 9,666,275
Accumulated deficit(13,693,297)(11,291,811)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)(4,000,189)(1,598,703)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 15,928,169 $ 16,972,556

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parentheticals) - $ / sharesSep. 30, 2021Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred Stock par value (in Dollars per share) $ 0.001 $ 0.001
Preferred Stock, shares authorized10,000,000 10,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding
Common Stock par value (in Dollars per share) $ 0.001 $ 0.001
Common Stock, shares authorized100,000,000 100,000,000
Common Stock, shares issued26,831,603 26,831,603
Common Stock, shares outstanding26,831,603 26,831,603

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
REVENUE
Sales (NOTE 12) $ 2,129,790 $ 1,499,729 $ 5,877,566 $ 4,205,776
OPERATING EXPENSES
General production and project costs1,155,365 1,154,944 4,115,107 3,487,428
Processing costs56,345 199,489
Depreciation and amortization287,662 321,075 781,892 911,901
Other operating costs128,412 181,374 263,573 481,024
Consulting expense65,055 65,055
Exploration expense4,086 9,083 342,350
Legal and professional36,679 14,204 150,115 103,586
Officers and directors fees89,761 87,615 257,426 259,087
General and administrative81,502 104,112 277,047 233,794
Loss on disposal of equipment5,487 239,651 162
Forward gold contract expense (NOTE 7)576,444 1,857,994
TOTAL OPERATING EXPENSES2,421,743 1,928,379 8,151,377 5,884,387
LOSS FROM OPERATIONS(291,953)(428,650)(2,273,811)(1,678,611)
OTHER INCOME (EXPENSE)
Interest and other income10,033 5,442 10,073 5,817
Interest expense – equipment financing(18,994)(28,685)(71,872)(76,514)
Interest expense - other(31,031)(3,357)(65,876)(4,210)
TOTAL OTHER INCOME (EXPENSE)(39,992)(26,600)(127,675)(74,907)
NET LOSS BEFORE INCOME TAX(331,945)(455,250)(2,401,486)(1,753,518)
Provision (benefit) for income tax
NET LOSS $ (331,945) $ (455,250) $ (2,401,486) $ (1,753,518)
Basic and diluted loss per share (in Dollars per share) $ (0.01) $ (0.02) $ (0.09) $ (0.07)
Basic and diluted weighted average number shares outstanding (in Shares)26,831,603 26,798,994 26,831,603 26,687,807

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders’ Equity(Deficit) (Unaudited) - USD ($)Common StockAdditional Paid in CapitalAccumulated DeficitTotal
BALANCE at Dec. 31, 2019 $ 26,633 $ 9,466,475 $ (9,451,218) $ 41,890
BALANCE (in Shares) at Dec. 31, 201926,631,603
Net loss (1,090,190)(1,090,190)
BALANCE at Mar. 31, 2020 $ 26,633 9,466,475 (10,541,408)(1,048,300)
BALANCE (in Shares) at Mar. 31, 202026,631,603
Net loss (208,078)(208,078)
BALANCE at Jun. 30, 2020 $ 26,633 9,466,475 (10,749,486)(1,256,378)
BALANCE (in Shares) at Jun. 30, 202026,631,603
Common stock issued for cash at $1.00 per share $ 200 199,800 200,000
Common stock issued for cash at $1.00 per share (in Shares)200,000
Net loss (455,250)(455,250)
BALANCE at Sep. 30, 2020 $ 26,833 9,666,275 (11,204,736)(1,511,628)
BALANCE (in Shares) at Sep. 30, 202026,831,603
BALANCE at Dec. 31, 2020 $ 26,833 9,666,275 (11,291,811)(1,598,703)
BALANCE (in Shares) at Dec. 31, 202026,831,603
Net loss (1,544,464)(1,544,464)
BALANCE at Mar. 31, 2021 $ 26,833 9,666,275 (12,836,275)(3,143,167)
BALANCE (in Shares) at Mar. 31, 202126,831,603
Net loss (525,077)(525,077)
BALANCE at Jun. 30, 2021 $ 26,833 9,666,275 (13,361,352)(3,668,244)
BALANCE (in Shares) at Jun. 30, 202126,831,603
Net loss (331,945)(331,945)
BALANCE at Sep. 30, 2021 $ 26,833 $ 9,666,275 $ (13,693,297) $ (4,000,189)
BALANCE (in Shares) at Sep. 30, 202126,831,603

Condensed Statements of Chang_2

Condensed Statements of Changes in Stockholders’ Equity(Deficit) (Unaudited) (Parentheticals)3 Months Ended
Sep. 30, 2020$ / shares
Statement of Stockholders' Equity [Abstract]
Common stock issued for cash, per share $ 1

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)9 Months Ended
Sep. 30, 2021Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (2,401,486) $ (1,753,518)
Adjustments to reconcile net loss to net cash provided (used) by operating activities
Depreciation and amortization781,892 911,901
Accretion of asset retirement obligation91,461 69,601
Write down of inventory to net realizable value1,265,018
Loss on disposal of equipment239,651 162
Changes in operating assets and liabilities:
Accounts receivable(59,675)
Inventories(154,122)(2,073,902)
Prepaid expenses and other current assets(13,441)144,226
Accounts payable and accrued expenses(995,363)1,033,153
Royalties and upside participation payable (NOTE 7)919,893
Accrued liabilities – officer and other wages45,462 21,005
Due to PDK in lieu of gold deliveries (NOTE 7)4,404,500
Prepaid forward gold contract liability (NOTE 7)(2,546,506)
Net cash provided (used) by operating activities1,577,284 (1,647,372)
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property and equipment(191,371)(545,197)
Payments for collateral on reclamation bonds(189,073)(375)
Proceeds from sales of property and equipment6,000
Net cash used by investing activities(374,444)(545,572)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from note payable – SBA 463,497
Proceeds from issuance of common stock200,000
Payment of notes payable - equipment(904,284)(499,804)
Net cash provided (used) by financing activities(904,284)163,693
Net increase (decrease) in cash and cash equivalents298,556 (2,029,251)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD173,287 2,116,432
CASH AND CASH EQUIVALENTS AT END OF PERIOD471,843 87,181
NON-CASH FINANCING AND INVESTING ACTIVITIES:
Equipment acquired with notes payable – equipment579,909 $ 447,650
Accrued rent satisfied with equipment trade-in $ 158,000

Organization and Description of

Organization and Description of Business9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESSNOTE 1 – ORGANIZATION AND DESCRIPTION
OF BUSINESS Desert Hawk Gold Corp. (the “Company”),
a Nevada Corporation, was incorporated on November 5, 1957. The Company commenced its current mining activities on May 1, 2009. During the year ended December 31, 2009, the Company
entered into Joint Venture Agreements with the Clifton Mining Company (“Clifton”), the Woodman Mining Company and the Moeller
Family Trust for the lease of certain of their property interests in the Gold Hill Mining District of Utah. In 2011, the Company
entered into an agreement with DMRJ Group, (a Platinum Partners related entity), which allowed for long term funding of the Kiewit project
and helped to provide cash flow for operations during the period from 2009 until 2014 while the permitting process was ongoing. The final
permit needed to begin development of the Kiewit property was received in January 2014 and development began in February 2014. Construction
at the site was substantially complete on September 30, 2014. Revenue from the heap leach operation began in October 2014 with the first
sales of gold concentrate.

Summary of Significant Accounti

Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES In the opinion of management, the accompanying
unaudited interim balance sheets and statements of operations, cash flows and stockholders’ equity (deficit) contain all adjustments,
consisting of normal recurring items, necessary to present fairly, in all material respects, the financial position of the Company as
of September 30, 2021, and the results of its operations and its cash flows for the three- and nine-month periods ended September 30,
2021 and 2020. The operating and financial results for the Company for the nine months ended September 30, 2021 are not necessarily indicative
of the results that may be expected for the year ending December 31, 2021. These unaudited interim financial statements have
been prepared by management in accordance with generally accepted accounting principles used in the United States of America (“U.S.
GAAP”). These unaudited interim financial statements do not include all note disclosures required by U.S. GAAP on an annual basis,
and therefore should be read in conjunction with the annual audited financial statements included in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission on April 19, 2021. This summary of significant accounting policies
of the Company is presented to assist in understanding the Company’s financial statements. The financial statements and notes are
representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies
conform to U.S. GAAP and have been consistently applied in the preparation of the financial statements. Accounting Method The Company’s financial statements are prepared
using the accrual basis of accounting in accordance with U.S. GAAP. Accounting for Stock Options and Stock Awards
Granted to Employees and Nonemployees All transactions in which goods or services are
received for the issuance of shares of the Company’s common stock or options to purchase shares of common stock are accounted for
based on the fair value of the equity interest issued. The Company estimates the fair value of stock-based compensation using the Black-Scholes
model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time employees will
retain their vested stock options before exercising them (“expected life”), the estimated volatility of the Company’s
common stock price over the expected term (“volatility”), the risk-free interest rate and the dividend yield. Changes in the
subjective assumptions can materially affect the estimate of the fair value of stock-based compensation. Risks and Uncertainties As a mining company, the revenue, profitability
and future rate of growth of the Company are substantially dependent on the prevailing prices for gold and silver. The prices of these
metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on
other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals
stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended
decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash
flows, access to capital and the quantities of resources that the Company can economically produce. Further, the carrying value of the
Company’s property and equipment, net; mineral properties and interest, net; inventories and ore on leach pads are particularly
sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material
impairment charges related to these assets. Use of Estimates The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results
could differ materially from those estimates. The more significant areas requiring the use of
management estimates and assumptions relate to metal prices and material resources that are the basis for future cash flow estimates utilized
in impairment calculations and units-of-production amortization calculations, environmental, reclamation and closure obligations, estimates
of recoverable silver and gold in leach pad inventories, fair value of common stock issued and valuation allowances for deferred tax assets.
The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the
circumstances. Accordingly, actual results may differ from the amounts estimated in these financial statements. Reclassifications Certain reclassifications have been made to conform
prior periods’ amounts to the current presentation. These reclassifications have no effect on the results of operations, stockholders’
equity (deficit), and cash flows as previously reported. Inventories The recovery of gold from certain oxide ores is
achieved through the heap leaching process. Under this method, mineralized material is placed on a leach pad where it is treated with
a chemical solution, which dissolves the gold contained in the material. The resulting “pregnant” solution is further processed
in a plant where gold is recovered. The Company records ore on leach pad, solution in carbon columns in process and gold concentrate,
at average production cost per gold ounce equivalent, less provisions required to reduce inventory to net realizable value. Production
costs include the cost of mineralized material processed; direct and indirect materials and consumables; direct labor; repairs and maintenance;
utilities; amortization of property, equipment, and mineral properties; and mine administrative expenses. Costs are removed from ore on
leach pads as ounces are recovered, based on the average cost per recoverable ounce of gold on the leach pad. Estimates of recoverable gold on the leach pad
are calculated from the quantities of material placed on the leach pad (measured tons added to the leach pad), the grade of material placed
on the leach pad (based on assay data) and an estimated recovery percentage (based on ore type). The nature of the leaching process inherently
limits the ability to precisely monitor inventory levels. As a result, actual gold ounces recovered are regularly monitored and estimates
are refined based on actual results over time. As of September 30, 2021, the Company had a limited operating history and actual results
only over a short period of time. Variations between actual and estimated quantities
resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective
basis. The ultimate recovery of gold from a leach pad will not be known until the leaching process is concluded. The quantification of
material inventory on the leach pad is based on estimates of the quantities of gold at each balance sheet date that the Company expects
to recover during the next 12 to 24 months. Inventory is stated at the lower of cost or net realizable value which for September 30, 2021
is net realizable value. A portion of the September 30, 2021 inventory has been classified as non-current. This classification has been
made based on the amount of gold expected to be sold over the next twelve months based on annualized ounces sold year to date. See Note
4. Earnings (Loss) Per Share Basic earnings (loss) per share includes no dilution
and is computed by dividing net earnings (loss) available to common shareholders by the weighted average common shares outstanding for
the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. For the three and nine months ended September
30, 2021 and 2020, common stock equivalents of 2,400,000 associated with the Company’s outstanding stock options were excluded from
the calculation of diluted earnings per share because they were anti-dilutive due to the net loss for the periods then ended. Revenue Recognition Concentrate Sales: Processing Income: Sales and accounts receivable for sales are recorded
net of charges from the customer which represent components of the transaction price. Charges are estimated by management upon transfer
of risk based on contractual terms, and actual charges typically do not vary materially from management’s estimates. Revenue from
the sale of concentrate may be subject to adjustment upon final settlement of estimated metal prices, weights and assays, and are recorded
as adjustments to revenue in the period of final settlement of prices, weights and assays; such adjustments are typically not material
in relation to the initial invoice amounts. Revenue proceeds from concentrate sales are recorded net of the impact of royalties and participation
agreements. Going Concern As shown in the accompanying financial statements,
the Company had an accumulated deficit of $13,693,297 through September 30, 2021 and net loss of $2,401,486 for the nine-month period
ended September 30, 2021, along with negative working capital of $13,643,983 which raises substantial doubt about the Company’s
ability to continue as a going concern. In addition, the Company has not delivered gold ounces as scheduled on its prepaid forward gold
contract and could be subject to default provisions within the related agreement (see Note 7). The financial statements do not include
any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities
that might be necessary in the event the Company cannot continue in existence. Although production restarted in 2019, it has
not yet reached optimum levels. The timing and amount of capital requirements will depend on a number of factors, including demand for
products, metals market pricing, and the availability of opportunities for expansion through affiliations and other business relationships.
Management continues to seek new capital from equity securities issuances or other business arrangements to provide funds needed to increase
liquidity, fund internal growth, and fully implement its business plan. The ability of the Company to continue as a going concern is dependent
on the Company’s ability to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations
and repay its liabilities arising from normal business operations when they are due. COVID -19 The Company’s operations and business have
experienced disruption due to the unprecedented conditions surrounding the COVID-19 pandemic spreading throughout the United States and
elsewhere, causing disruptions to the Company’s business operations and management. These disruptions are most evident in the Company’s
ability to retain and house employees and properly manage them while maintaining proper social distancing and with delays in obtaining
materials and supplies. There has also been a reduction in the availability of equipment financing. These disruptions continue to hamper
operations. It is management’s belief that disruptions relating to COVID will be mitigated in the future as a large percent of the
population becomes vaccinated. New Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12
Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The update contains a number of provisions intended to simplify
the accounting for income taxes. The update is effective for fiscal years beginning after December 15, 2020, with early adoption permitted.
The update was adopted as of January 1, 2021, and its adoption did not have a material impact on the Company’s financial statements. Accounting standards that have been issued or
proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements
upon adoption.

Reclamation Bonds

Reclamation Bonds9 Months Ended
Sep. 30, 2021
Reclamation Bonds [Abstract]
RECLAMATION BONDSNOTE 3 – RECLAMATION BONDS At September 30, 2021 and December 31, 2020, the
Company has a surety bond of $674,000 in an escrow account with the bonding company for reclamation of its property. This escrowed amount
is held at Bank of New York, Mellon for the Company’s benefit. It may not be released to the Company without the prior consent of
the surety bondholder. The escrowed amount does not earn interest. In December 2020, the Company was notified by
the Utah Department of Natural Resources that the reclamation cost estimate for the Kiewit properties had been escalated from $1,348,000
to $1,537,000, an increase of $189,000. The amount was remitted to the Utah Division of Oil, Gas and Mining on March 11, 2021. Total reclamation bonds posted at September 30,
2021 and December 31, 2020 are $947,084 and $758,011, respectively, which consists of the above escrowed amount along with certificate
of deposits held with the state of Utah for the remaining bonds on the property, including exploration bonds.

Inventories

Inventories9 Months Ended
Sep. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIESNOTE 4 – INVENTORIES Inventories at September 30, 2021 and December
31, 2020 consists of the following:
September 30, December 31,
2021 2020
Ore on leach pad $ 5,328,635 $ 6,583,986
Carbon column in process 225,215 133,640
Finished goods 182,271 129,391
5,736,121 6,847,017
Less long-term portion (1,466,297 ) (1,505,020 )
Total $ 4,269,824 $ 5,341,997 Inventories at September 30, 2021 and December
31, 2020 were valued at net realizable value because production costs were greater than the amount the Company expected to receive on
the sale of the estimated gold ounces contained in inventories. The adjustment to inventory was $1,265,018 and $204,127 at September 30,
2021 and December 31, 2020, respectively. A portion of the September 30, 2021 inventory has been classified as non-current. This classification
has been made based on the amount of gold expected to be sold over the next twelve months based on annualized ounces sold year to date.

Property and Equipment

Property and Equipment9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENTNOTE 5 - PROPERTY AND EQUIPMENT The following is a summary of property and equipment
at September 30, 2021 and December 31, 2020:
September 30, December 31,
2021 2020
Equipment $ 6,443,815 $ 6,361,808
Furniture and fixtures 6,981 6,981
Electronic and computer equipment 50,587 50,587
Vehicles 322,045 315,905
Land improvements 44,840 44,840
6,868,268 6,780,121
Less accumulated depreciation (3,594,707 ) (3,129,046 )
3,273,561 3,651,075
Kiewit property facilities 2,497,435 2,497,436
Less accumulated amortization (797,021 ) (758,851 )
1,700,414 1,738,585
Total $ 4,973,976 $ 5,389,660 For the Kiewit property facilities, amortization
based on total units of production was $20,412 and $28,817 for the three months ended September 30, 2021 and 2020, respectively. For the
Kiewit property facilities, amortization based on total units for production was $38,170 and $83,965 for the nine months ended September
30, 2021 and 2020, respectively. Depreciation expense on property and equipment
was $222,804 and $231,824 for the three months ended September 30, 2021 and 2020, respectively. Depreciation expense on property and equipment
was $658,337 and $653,453 and for the nine months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021,
the Company was required to return a CAT 740 Haul truck to Wheeler Machinery because the Company was 5 payments delinquent in its obligation
on this note payable. The net carrying value of the equipment was $290,889 and the outstanding note payable balance was $86,806. A loss
on disposal of equipment of $204,083 was recognized. The truck was purchased by a related party who in February began renting the truck
to the Company on a month-to-month rental. See Note 11. During the nine months ended September 30, 2021,
the Company acquired a new HP4 crushing system in exchange for its HP3 crushing system which was returned to ICM Solutions, Inc. (“ICM”).
Prior to the acquisition, the Company had been renting the HP4 crushing system from ICM and had an accrued rent payable of $158,000. ICM
financed the acquisition of the new HP4 crushing system with a new note of $215,510 for the cost of the new equipment, plus accrued rent
payable, less the trade-in value of the HP3 crushing system.

Mineral Properties and Interest

Mineral Properties and Interests9 Months Ended
Sep. 30, 2021
Mineral Industries Disclosures [Abstract]
MINERAL PROPERTIES AND INTERESTSNOTE 6 – MINERAL PROPERTIES AND INTERESTS Mineral properties and interests as of September
30, 2021 and December 31, 2020 are as follows:
September 30, December 31,
2021 2020
Kiewit and all other sites $ 3,700,000 $ 3,700,000
JJS property 250,000 250,000
3,950,000 3,950,000
Less accumulated amortization (840,363 ) (770,560 )
3,109,638 3,179,440
Asset retirement obligation assets
Kiewit Site 725,122 718,289
Kiewit Exploration 28,377 28,377
JJS property 31,016 31,016
Total 784,515 777,682
Less accumulated amortization (186,837 ) (171,254 )
597,679 606,428
Total $ 3,707,316 $ 3,785,868 The Company is required to pay a 4% net smelter
royalty (“NSR”) to PDK on revenues of gold and silver from the Kiewit gold property and the JJS properties.

Prepaid Forward Gold Contract L

Prepaid Forward Gold Contract Liability9 Months Ended
Sep. 30, 2021
Forward Gold Sales Contract Liability [Abstract]
PREPAID FORWARD GOLD CONTRACT LIABILITYNOTE 7 – PREPAID FORWARD GOLD CONTRACT
LIABILITY During 2019, the Company entered into and closed
a Pre-Paid Forward Gold Purchase Agreement (the “Purchase Agreement”) with PDK Utah Holdings L.P. (“PDK”) for
the sale and purchase by PDK of gold produced from the Company’s mining property. Under the terms of the original Purchase Agreement,
as amended, PDK agreed to purchase a total of 47,045 ounces of gold from the Company. The Company agreed to deliver ounces of gold produced
from the Kiewit property to PDK and the Company would then receive proceeds from PDK at the then current spot price less a discount specified
in the Purchase Agreement. The Company has the option of paying cash to PDK for the number of ounces to be delivered each month at a rate
of $500 per ounce. The Company received a net amount of $13,600,000 in 2019 for the future delivery of these gold ounces. The Purchase Agreement contains a royalty provision
whereby royalties of 4% are due to PDK on gold and silver recovered from mining operations at the Kiewit site and sold by the Company
to a third party. Under the Purchase Agreement, the Company also pays a 5% withholding tax to the state of Utah on the PDK royalty payments.
Royalties are payable within 30 days following the end of each fiscal quarter. The Purchase Agreement contains a participation
payment whereby PDK receives a portion of the proceeds from gold sold by the Company to a third party. The payment due to PDK is based
upon a percentage of proceeds over a set gold price per ounce. The upside participation amounts are payable within four days following
each sale. In addition, under the Purchase Agreement, PDK
may reduce the required number of ounces to be sold in exchange for up to 8,000 common shares of the Company. As security for the obligations
of the Company under the Purchase Agreement, the Company has granted PDK a security interest in all of the assets of the Company and has
issued and recorded a Leasehold Deed of Trust, Assignment of Leases, Rents, As Extracted Collateral and Contracts, Security Agreement
and Fixture Filing. The Purchase Agreement contains representations and warranties, as well as affirmative and negative covenants customary
to a transaction of this nature. Under the terms of the Purchase Agreement, as
amended, the Company is obligated to deliver gold in the following quantities:
Months Gold Ounces per Month Total Gold Ounces
December 2020 655 655
January 2021 to March 2021 896 2,688
April 2021 to March 2022 911 10,932
April 2022 to March 2023 1,396 16,752
April 2023 to December 2023 1,753 15,777
January 2024 241 241
47,045 No gold has been delivered under the contract.
As of September 30, 2021 and December 31, 2020, a cumulative of 8,809 and 655 ounces, respectively, were scheduled to be delivered to
PDK under the terms of the Purchase Agreement. The ounces due but unpaid to PDK at September 30, 2021 have been reflected in “due
to PDK in lieu of gold deliveries’ at the amount calculated based on the Company’s option to pay cash in lieu of delivery
at $500 per ounce. The forward gold contract balance and the related contract expense for the nine-month period ended September 30, 2021
are as follows:
Total ounces to be delivered through September 30, 2021 8,809
Contractual payment per ounce in lieu of delivery $ 500
Amount due to PDK at September 30, 2021 $ 4,404,500
Forward gold contract balance associated with 8,809 ounces (2,546,506 )
Forward gold contract expense for the nine months ended September 30, 2021 $ 1,857,994
Prepaid forward gold contract liability balance at December 31, 2020 $ 13,600,000
Forward gold contract balance associated with 8,809 ounces (2,546,506 )
Prepaid forward gold contract liability balance at September 30, 2021 $ 11,053,494 On December 1, 2020, the Company notified PDK
that it would not be able to make the December delivery of gold and elected to use one of the delivery postponement options under the
Purchase Agreement, as amended. This provision permits the Company to delay delivery by up to 30 days by delivering the amount of gold
due within 30 days, plus interest calculated at the default interest rate, thereby causing the December ounces to be come due in January
2021. At the end of this 30-day extension period the Company was unable to deliver the December payment and the amount became due on January
25, 2021. As of September 30, 2021, and through the issuance
of these financial statements, PDK has sent invoices to the Company for the deliveries and payments due. However, no notice of default
on the Purchase Agreement has been received from PDK. The failure to make gold deliveries under the Purchase Agreement, as amended, provides
PDK with certain remedies, including termination of the agreement, demand for early payment of the entire delivery obligations, and enforcement
of foreclosure rights against the assets pledged as security under the agreement. The Company is in ongoing negotiations with PDK in an
effort to re-negotiate the terms of the agreement. Due to the delinquent status of the deliveries and PDK’s rights under the default
provisions of the Purchase Agreement, the Company has classified the entire liability balance owing as current on the September 30, 2021
balance sheet. Accrued interest of $65,792 and $ Nil The September 30, 2021 balance includes royalties
payable for the second, third and fourth quarters of 2020 and the first, second and third quarters of 2021. The September 30, 2021 balance
includes participation payments payable for the third and fourth quarters of 2020 and the first, second and third quarters of 2021. The
following is a summary of royalties, upside participation and interest payable:
September 30, December 31,
2021 2020
Royalties payable $ 404,316 $ 210,802
Royalties withholding payable 19,760 11,095
Upside participation payable 1,294,074 576,360
Interest payable 65,792 5,600
Total $ 1,783,942 $ 803,857

Notes Payable _ Equipment

Notes Payable – Equipment9 Months Ended
Sep. 30, 2021
Notes Payable Equipment [Abstract]
NOTES PAYABLE – EQUIPMENTNOTE 8 – NOTES PAYABLE – EQUIPMENT
The following is a summary of the equipment notes
payable:
September 30, December 31,
2021 2020
Note payable to Wheeler Machinery, collateralized by a 374 DL Excavator, due in 12 monthly installments of $19,575, beginning June 2020, including interest at 8.5%, with a balloon payment due in June 2021 of $150,164. (1) $ 61,759 $ 304,845
Note payable to ICM Solutions, LLC, collateralized by an HP4 crushing system, due in 10 monthly payments of $22,300, beginning March 2021, including interest at 9%. 65,909 -
Note payable to ICM Solutions, LLC, collateralized by 3 grasshopper leg conveyor systems, due in 12 monthly installments of $4,365, beginning April 2020, including interest at 9%. (1) 16,976 69,230
Note payable to Wheeler Machinery, collateralized by a used CAT 740 Haul truck (SN2293), originally due in 11 monthly installments of $14,475, beginning May 2019, including interest at 9%, with a balloon payment due in April 2020 of $168,873. (2) - 86,807
Note payable to Epiroc, collateralized by a used Epiroc drill, due in 6 monthly installments of $22,235, beginning October 2019, the balloon amount of $488,317 was refinanced in April 2020, with a new loan in that amount due in 36 monthly payments of $14,679 including interest at 5.2%. 267,168 386,268
Note payable to Wheeler Machinery, collateralized by a used D8T dozer, originally due in 11 monthly installments of $19,125, beginning August 2019, including interest at 9%, with a balloon payment due in July 2020 of $350,281. (1) 157,137 349,761
Note payable to Komatsu Equipment, collateralized by a used PC490 Excavator, due in 11 monthly payments of $10,320, beginning July 2019, including interest at 9%, the balloon amount of $71,372 was refinanced in May 2020 with 1 payment of $28,823 and 12 monthly payments of $1,903 including interest at 4.6%. - 11,275
Note payable to Wheeler Machinery, collateralized by a used CAT 740 Haul Truck, due in 14 monthly installments of $14,475, beginning in July 2021, including interest at 7.48%, with a balloon payment due in August 2022 of $18,185. 184,252 -
Note payable to Goodfellow, collateralized by a JM Conveyor model 36 x 100 Radial Stacker, due in 19 monthly installments of $4,675, beginning in February 2021 including interest at 15%. 43,804 -
797,005 1,208,186
Current portion (677,934 ) (981,759 )
Long term portion $ 119,071 $ 226,427
Principal payments due are as follows for the twelve months ended:
September 30, 2022 $ 677,934
September 30, 2023 119,071
Total $ 797,005 Arrangements have been made with Wheeler CAT and
ICM Solutions, LLC to accelerate the payment schedules of their notes for the first few months of 2021, with no additional penalties other
than interest, thereby allowing for the accounts to become current by May 2021.
(1) Wheeler CAT has extended the terms of this 12-month amortization,
allowing for continued monthly payments of the same amount until other financing becomes available or until the balance has been paid
in full, whichever comes first.
(2) In February 2021, Wheeler CAT requested the return of this
equipment because the Company was 5 payments delinquent in its obligation on this note payable. This truck was then purchased from Wheeler
CAT by a related party who in February began leasing the truck to the Company on a month-to-month rental. See Note 11. This arrangement
relieved the Company of any other financial obligation on this note.

Asset Retirement Obligation

Asset Retirement Obligation9 Months Ended
Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONNOTE 9 –ASSET RETIREMENT OBLIGATION Changes in the asset retirement obligation for
the nine-month periods ended September 30, 2021 and 2020 are as follows:
September 30, September 30,
2021 2020
Asset retirement obligation, beginning of period $ 1,233,514 $ 826,637
Obligation incurred:
Kiewit properties 6,833 94,347
JJS property - 31,016
Accretion expense 91,461 69,601
Asset retirement obligation, end of period $ 1,331,808 $ 1,021,601 In the first quarter of 2021 and 2020, the Company
updated the asset retirement obligation to reflect a plan for reclamation and closure of the mine at the end of its life. The asset retirement
asset and obligation increased by $6,833 and $125,363, respectively, as a result of a change in the estimated timing of costs and the
impact of discounting the costs to present value. The estimated reclamation costs were discounted
using credit adjusted, risk-free interest rate of 10% from the time the Company incurred the obligation to the time we expect to pay the
retirement obligation.

Capital Stock

Capital Stock9 Months Ended
Sep. 30, 2021
Stockholders' Equity Note [Abstract]
CAPITAL STOCKNOTE 10 - CAPITAL STOCK Common Stock The Company is authorized to issue 100,000,000
shares of common stock. All shares have equal voting rights and have one vote per share. Voting rights are not cumulative and, therefore,
the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company. During the nine-month period ended September 30,
2021 the Company had no transactions relating to common stock. During the nine-month period ended September 30, 2020, the Company sold
200,000 shares of common stock at a price of $1 per share. Preferred Stock The Company's Articles of Incorporation authorized
10,000,000 shares of $0.001 par value Preferred Stock available for issuance with such rights and preferences, including liquidation,
dividend, conversion, and voting rights, as the Board of Directors may determine.

Related Party Transactions

Related Party Transactions9 Months Ended
Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONSNOTE 11 – RELATED PARTY TRANSACTIONS In addition to transactions disclosed in Note
13, the Company had the following related party transactions. The Company has a month-to-month lease agreement
for its office space with RMH Overhead, LLC, a company owned by Rick Havenstrite, the Company’s President and a director. The Company
recognized rent expense of $4,500 and $4,500 for the three months ended September 30, 2021 and 2020. The Company recognized rent expense
of $13,500 and $12,500 for the nine-month periods ended September 30, 2021 and 2020. At September 30, 2021 and December 31, 2020, amounts
due to RMH Overhead, LLC for rent of $ Nil Nil On February 1, 2021, RMH Overhead, LLC. (“RMH”)
an entity owned by Rick Havenstrite, President of the Company, purchased a CAT 740B Articulated Haul Truck from Wheeler CAT. This truck
had previously been owned by the Company with an associated note payable to Wheeler CAT. See Note 5. Beginning February 1, 2021, the Company
began renting this truck from RMH at a rate of $10,000 per month on a month-to-month rental. At September 30, 2021 and December 31, 2020,
amounts of $10,000 and $ Nil, respectively, are due to RMH Overhead, LLC for rent of this equipment, and this amount is included in accounts
payable and accrued expenses on the balance sheet. The Company compensates directors for their contributions
to the management of the Company, with one director receiving fees of $6,000 per month and another director receiving $5,000 per quarter.
At September 30, 2021 and December 31, 2020, accrued compensation due to directors was $61,000 and $11,000 , respectively.

Revenue

Revenue9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUENOTE 12 – REVENUE At September 30, 2021 and December 30, 2020, the
Company had a receivable balance from processing income of $59,675 and $ Nil Product sales for the three-month periods ended
September 30, 2021 and September 30, 2020 are shown below:
Three Months ended Three Months ended
Concentrate sales:
Gold $ 1,784,936 $ 1,979,156
Silver 23,246 20,420
1,808,182 1,999,576
Less: Royalties (76,134 ) (84,189 )
Upside participation payments (266,175 ) (332,035 )
Outside processing charges (89,838 ) (83,623 )
(432,147 ) (499,847 )
Net concentrate sales 1,376,035 1,499,729
Processing sales, net of charges 753,755 -
Total revenue $ 2,129,790 $ 1,499,729 Product sales for the nine-month periods ended
September 30, 2021 and September 30, 2020 are shown below:
Nine Months ended Nine Months ended
Concentrate sales:
Gold $ 4,768,124 $ 5,307,976
Silver 69,753 52,305
4,837,877 5,360,281
Less: Royalties (203,700 ) (201,197 )
Upside participation payments (717,714 ) (742,957 )
Outside processing charges (229,147 ) (210,351 )
(1,150,561 ) (1,154,505 )
Net concentrate sales 3,687,316 4,205,776
Processing sales, net of charges 2,190,250 -
Total revenue $ 5,877,566 $ 4,205,776 For the three and nine months ended September
30, 2021 and 2020, all revenue from concentrate sales was sold to Asahi Refining. For the three and nine months ended September 30, 2021,
all revenue from processing income was received from the outside company whose concentrate sales are to Asahi Refinery .

Commitments and Contingencies

Commitments and Contingencies9 Months Ended
Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIESNOTE 13– COMMITMENTS AND CONTINGENCIES In addition to commitments disclosed in Notes
4 and 7, the Company had the following commitments and contingencies. Personal property tax and other accrued liabilities Personal property tax for Tooele County, Utah,
is billed and becomes due on November 30 of each year. At September 30, 2021 and December 31, 2020, the amount due to Tooele County for
2020 is $ Nil Employment Agreements The Company has an employment agreement with Mr.
Havenstrite as President of the Company, which is ongoing. The agreement, as amended, requires Mr. Havenstrite to meet certain time requirements
and limits the number of other board member obligations in which he can participate. The agreement allows for a base annual salary of
$144,000 plus certain performance compensation upon fulfillment of established goals. The agreement allows the board of directors to terminate
Mr. Havenstrite’ s employment at any time, providing for a severance payment upon termination without cause. At September 30, 2021 and December 31, 2020 accrued
compensation due to officers of the Company was $56,159 and $37,697, respectively. Of the amounts accrued at September 30, 2021 and December
31, 2020, accrued compensation of $37,697 and $26,620 is due to Rick Havenstrite and $18,462 and $11,077 is due to Marianne Havenstrite,
Treasurer and Principal Financial Officer. Directors’ Fees The Company compensates its directors for their
service to the Company. At September 30, 2021 and December 31, 2020, accrued compensation due to directors was $61,000 and $34,000. Finder’s Agreement On May 11, 2018, the Company entered into an agreement
with Mount Royal Consultants (Mount Royal) to assist in finding prospective investors. Mount Royal would receive a finder’s fee
of 7% for a connection with a company that resulted in a qualified investment consisting of equity securities or a fee of 3% for a connection
with a company that resulted in a purchase of debt securities. Future amounts to be received from investors could
also be subject to this agreement. During the three -month period ended September 30, 2021, the Company recognized no consulting expense
relating to this agreement. Mining Leases Annual claims fees are currently $155 per claim
plus administrative and school trust land fees. Total paid for claims fees paid during the three- and nine-month periods ended September
30, 2021 and 2020, are $15,199 and $11,025. Claims fees are due in August for the year beginning in September of that year.

Subsequent Events

Subsequent Events9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTSNOTE 14– SUBSEQUENT EVENTS The Utah Division of Oil, Gas & Mining has
granted conditional approval of an operating and reclamation permit for the Company’s mining properties pending calculation of the
surety bond. The Company expects this permit to be finalized in December and at that time must provide additional bonding in the amount
of about $550,000 in advance of the pit expansion work. An additional amount of approximately $400,000 will be due when the heap leach
expansion takes place. The Company expects to begin the pit expansion in January 2022 with the heap leach expansion taking place later
in 2022 or 2023.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]
Accounting MethodAccounting Method The Company’s financial statements are prepared
using the accrual basis of accounting in accordance with U.S. GAAP.
Accounting for Stock Options and Stock Awards Granted to Employees and NonemployeesAccounting for Stock Options and Stock Awards
Granted to Employees and Nonemployees All transactions in which goods or services are
received for the issuance of shares of the Company’s common stock or options to purchase shares of common stock are accounted for
based on the fair value of the equity interest issued. The Company estimates the fair value of stock-based compensation using the Black-Scholes
model, which requires the input of some subjective assumptions. These assumptions include estimating the length of time employees will
retain their vested stock options before exercising them (“expected life”), the estimated volatility of the Company’s
common stock price over the expected term (“volatility”), the risk-free interest rate and the dividend yield. Changes in the
subjective assumptions can materially affect the estimate of the fair value of stock-based compensation.
Risks and UncertaintiesRisks and Uncertainties As a mining company, the revenue, profitability
and future rate of growth of the Company are substantially dependent on the prevailing prices for gold and silver. The prices of these
metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on
other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals
stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended
decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash
flows, access to capital and the quantities of resources that the Company can economically produce. Further, the carrying value of the
Company’s property and equipment, net; mineral properties and interest, net; inventories and ore on leach pads are particularly
sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material
impairment charges related to these assets.
Use of EstimatesUse of Estimates The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results
could differ materially from those estimates. The more significant areas requiring the use of
management estimates and assumptions relate to metal prices and material resources that are the basis for future cash flow estimates utilized
in impairment calculations and units-of-production amortization calculations, environmental, reclamation and closure obligations, estimates
of recoverable silver and gold in leach pad inventories, fair value of common stock issued and valuation allowances for deferred tax assets.
The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the
circumstances. Accordingly, actual results may differ from the amounts estimated in these financial statements.
ReclassificationsReclassifications Certain reclassifications have been made to conform
prior periods’ amounts to the current presentation. These reclassifications have no effect on the results of operations, stockholders’
equity (deficit), and cash flows as previously reported.
InventoriesInventories The recovery of gold from certain oxide ores is
achieved through the heap leaching process. Under this method, mineralized material is placed on a leach pad where it is treated with
a chemical solution, which dissolves the gold contained in the material. The resulting “pregnant” solution is further processed
in a plant where gold is recovered. The Company records ore on leach pad, solution in carbon columns in process and gold concentrate,
at average production cost per gold ounce equivalent, less provisions required to reduce inventory to net realizable value. Production
costs include the cost of mineralized material processed; direct and indirect materials and consumables; direct labor; repairs and maintenance;
utilities; amortization of property, equipment, and mineral properties; and mine administrative expenses. Costs are removed from ore on
leach pads as ounces are recovered, based on the average cost per recoverable ounce of gold on the leach pad. Estimates of recoverable gold on the leach pad
are calculated from the quantities of material placed on the leach pad (measured tons added to the leach pad), the grade of material placed
on the leach pad (based on assay data) and an estimated recovery percentage (based on ore type). The nature of the leaching process inherently
limits the ability to precisely monitor inventory levels. As a result, actual gold ounces recovered are regularly monitored and estimates
are refined based on actual results over time. As of September 30, 2021, the Company had a limited operating history and actual results
only over a short period of time. Variations between actual and estimated quantities
resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective
basis. The ultimate recovery of gold from a leach pad will not be known until the leaching process is concluded. The quantification of
material inventory on the leach pad is based on estimates of the quantities of gold at each balance sheet date that the Company expects
to recover during the next 12 to 24 months. Inventory is stated at the lower of cost or net realizable value which for September 30, 2021
is net realizable value. A portion of the September 30, 2021 inventory has been classified as non-current. This classification has been
made based on the amount of gold expected to be sold over the next twelve months based on annualized ounces sold year to date. See Note
4.
Earnings (Loss) Per ShareEarnings (Loss) Per Share Basic earnings (loss) per share includes no dilution
and is computed by dividing net earnings (loss) available to common shareholders by the weighted average common shares outstanding for
the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. For the three and nine months ended September
30, 2021 and 2020, common stock equivalents of 2,400,000 associated with the Company’s outstanding stock options were excluded from
the calculation of diluted earnings per share because they were anti-dilutive due to the net loss for the periods then ended.
Revenue RecognitionRevenue Recognition Concentrate Sales: Processing Income: Sales and accounts receivable for sales are recorded
net of charges from the customer which represent components of the transaction price. Charges are estimated by management upon transfer
of risk based on contractual terms, and actual charges typically do not vary materially from management’s estimates. Revenue from
the sale of concentrate may be subject to adjustment upon final settlement of estimated metal prices, weights and assays, and are recorded
as adjustments to revenue in the period of final settlement of prices, weights and assays; such adjustments are typically not material
in relation to the initial invoice amounts. Revenue proceeds from concentrate sales are recorded net of the impact of royalties and participation
agreements.
Going ConcernGoing Concern As shown in the accompanying financial statements,
the Company had an accumulated deficit of $13,693,297 through September 30, 2021 and net loss of $2,401,486 for the nine-month period
ended September 30, 2021, along with negative working capital of $13,643,983 which raises substantial doubt about the Company’s
ability to continue as a going concern. In addition, the Company has not delivered gold ounces as scheduled on its prepaid forward gold
contract and could be subject to default provisions within the related agreement (see Note 7). The financial statements do not include
any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities
that might be necessary in the event the Company cannot continue in existence. Although production restarted in 2019, it has
not yet reached optimum levels. The timing and amount of capital requirements will depend on a number of factors, including demand for
products, metals market pricing, and the availability of opportunities for expansion through affiliations and other business relationships.
Management continues to seek new capital from equity securities issuances or other business arrangements to provide funds needed to increase
liquidity, fund internal growth, and fully implement its business plan. The ability of the Company to continue as a going concern is dependent
on the Company’s ability to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations
and repay its liabilities arising from normal business operations when they are due.
COVID -19COVID -19 The Company’s operations and business have
experienced disruption due to the unprecedented conditions surrounding the COVID-19 pandemic spreading throughout the United States and
elsewhere, causing disruptions to the Company’s business operations and management. These disruptions are most evident in the Company’s
ability to retain and house employees and properly manage them while maintaining proper social distancing and with delays in obtaining
materials and supplies. There has also been a reduction in the availability of equipment financing. These disruptions continue to hamper
operations. It is management’s belief that disruptions relating to COVID will be mitigated in the future as a large percent of the
population becomes vaccinated.
New Accounting PronouncementsNew Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12
Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The update contains a number of provisions intended to simplify
the accounting for income taxes. The update is effective for fiscal years beginning after December 15, 2020, with early adoption permitted.
The update was adopted as of January 1, 2021, and its adoption did not have a material impact on the Company’s financial statements. Accounting standards that have been issued or
proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements
upon adoption.

Inventories (Tables)

Inventories (Tables)9 Months Ended
Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of inventoriesSeptember 30, December 31,
2021 2020
Ore on leach pad $ 5,328,635 $ 6,583,986
Carbon column in process 225,215 133,640
Finished goods 182,271 129,391
5,736,121 6,847,017
Less long-term portion (1,466,297 ) (1,505,020 )
Total $ 4,269,824 $ 5,341,997

Property and Equipment (Tables)

Property and Equipment (Tables)9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipmentSeptember 30, December 31,
2021 2020
Equipment $ 6,443,815 $ 6,361,808
Furniture and fixtures 6,981 6,981
Electronic and computer equipment 50,587 50,587
Vehicles 322,045 315,905
Land improvements 44,840 44,840
6,868,268 6,780,121
Less accumulated depreciation (3,594,707 ) (3,129,046 )
3,273,561 3,651,075
Kiewit property facilities 2,497,435 2,497,436
Less accumulated amortization (797,021 ) (758,851 )
1,700,414 1,738,585
Total $ 4,973,976 $ 5,389,660

Mineral Properties and Intere_2

Mineral Properties and Interests (Tables)9 Months Ended
Sep. 30, 2021
Mineral Industries Disclosures [Abstract]
Schedule of mineral properties and interestsSeptember 30, December 31,
2021 2020
Kiewit and all other sites $ 3,700,000 $ 3,700,000
JJS property 250,000 250,000
3,950,000 3,950,000
Less accumulated amortization (840,363 ) (770,560 )
3,109,638 3,179,440
Asset retirement obligation assets
Kiewit Site 725,122 718,289
Kiewit Exploration 28,377 28,377
JJS property 31,016 31,016
Total 784,515 777,682
Less accumulated amortization (186,837 ) (171,254 )
597,679 606,428
Total $ 3,707,316 $ 3,785,868

Prepaid Forward Gold Contract_2

Prepaid Forward Gold Contract Liability (Tables)9 Months Ended
Sep. 30, 2021
Forward Gold Sales Contract Liability [Abstract]
Schedule of company is obligated to deliver goldMonths Gold Ounces per Month Total Gold Ounces
December 2020 655 655
January 2021 to March 2021 896 2,688
April 2021 to March 2022 911 10,932
April 2022 to March 2023 1,396 16,752
April 2023 to December 2023 1,753 15,777
January 2024 241 241
47,045
Schedule of related contract expenseTotal ounces to be delivered through September 30, 2021 8,809
Contractual payment per ounce in lieu of delivery $ 500
Amount due to PDK at September 30, 2021 $ 4,404,500
Forward gold contract balance associated with 8,809 ounces (2,546,506 )
Forward gold contract expense for the nine months ended September 30, 2021 $ 1,857,994
Prepaid forward gold contract liability balance at December 31, 2020 $ 13,600,000
Forward gold contract balance associated with 8,809 ounces (2,546,506 )
Prepaid forward gold contract liability balance at September 30, 2021 $ 11,053,494
Schedule of royalties, upside participation and interest payableSeptember 30, December 31,
2021 2020
Royalties payable $ 404,316 $ 210,802
Royalties withholding payable 19,760 11,095
Upside participation payable 1,294,074 576,360
Interest payable 65,792 5,600
Total $ 1,783,942 $ 803,857

Notes Payable _ Equipment (Tabl

Notes Payable – Equipment (Tables)9 Months Ended
Sep. 30, 2021
Notes Payable Equipment [Abstract]
Schedule of the equipment notes payableSeptember 30, December 31,
2021 2020
Note payable to Wheeler Machinery, collateralized by a 374 DL Excavator, due in 12 monthly installments of $19,575, beginning June 2020, including interest at 8.5%, with a balloon payment due in June 2021 of $150,164. (1) $ 61,759 $ 304,845
Note payable to ICM Solutions, LLC, collateralized by an HP4 crushing system, due in 10 monthly payments of $22,300, beginning March 2021, including interest at 9%. 65,909 -
Note payable to ICM Solutions, LLC, collateralized by 3 grasshopper leg conveyor systems, due in 12 monthly installments of $4,365, beginning April 2020, including interest at 9%. (1) 16,976 69,230
Note payable to Wheeler Machinery, collateralized by a used CAT 740 Haul truck (SN2293), originally due in 11 monthly installments of $14,475, beginning May 2019, including interest at 9%, with a balloon payment due in April 2020 of $168,873. (2) - 86,807
Note payable to Epiroc, collateralized by a used Epiroc drill, due in 6 monthly installments of $22,235, beginning October 2019, the balloon amount of $488,317 was refinanced in April 2020, with a new loan in that amount due in 36 monthly payments of $14,679 including interest at 5.2%. 267,168 386,268
Note payable to Wheeler Machinery, collateralized by a used D8T dozer, originally due in 11 monthly installments of $19,125, beginning August 2019, including interest at 9%, with a balloon payment due in July 2020 of $350,281. (1) 157,137 349,761
Note payable to Komatsu Equipment, collateralized by a used PC490 Excavator, due in 11 monthly payments of $10,320, beginning July 2019, including interest at 9%, the balloon amount of $71,372 was refinanced in May 2020 with 1 payment of $28,823 and 12 monthly payments of $1,903 including interest at 4.6%. - 11,275
Note payable to Wheeler Machinery, collateralized by a used CAT 740 Haul Truck, due in 14 monthly installments of $14,475, beginning in July 2021, including interest at 7.48%, with a balloon payment due in August 2022 of $18,185. 184,252 -
Note payable to Goodfellow, collateralized by a JM Conveyor model 36 x 100 Radial Stacker, due in 19 monthly installments of $4,675, beginning in February 2021 including interest at 15%. 43,804 -
797,005 1,208,186
Current portion (677,934 ) (981,759 )
Long term portion $ 119,071 $ 226,427
Principal payments due are as follows for the twelve months ended:
September 30, 2022 $ 677,934
September 30, 2023 119,071
Total $ 797,005
(1) Wheeler CAT has extended the terms of this 12-month amortization,
allowing for continued monthly payments of the same amount until other financing becomes available or until the balance has been paid
in full, whichever comes first.
(2) In February 2021, Wheeler CAT requested the return of this
equipment because the Company was 5 payments delinquent in its obligation on this note payable. This truck was then purchased from Wheeler
CAT by a related party who in February began leasing the truck to the Company on a month-to-month rental. See Note 11. This arrangement
relieved the Company of any other financial obligation on this note.

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)9 Months Ended
Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Schedule of asset retirement obligationsSeptember 30, September 30,
2021 2020
Asset retirement obligation, beginning of period $ 1,233,514 $ 826,637
Obligation incurred:
Kiewit properties 6,833 94,347
JJS property - 31,016
Accretion expense 91,461 69,601
Asset retirement obligation, end of period $ 1,331,808 $ 1,021,601

Revenue (Tables)

Revenue (Tables)9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Schedule of sales of productsThree Months ended Three Months ended
Concentrate sales:
Gold $ 1,784,936 $ 1,979,156
Silver 23,246 20,420
1,808,182 1,999,576
Less: Royalties (76,134 ) (84,189 )
Upside participation payments (266,175 ) (332,035 )
Outside processing charges (89,838 ) (83,623 )
(432,147 ) (499,847 )
Net concentrate sales 1,376,035 1,499,729
Processing sales, net of charges 753,755 -
Total revenue $ 2,129,790 $ 1,499,729
Nine Months ended Nine Months ended
Concentrate sales:
Gold $ 4,768,124 $ 5,307,976
Silver 69,753 52,305
4,837,877 5,360,281
Less: Royalties (203,700 ) (201,197 )
Upside participation payments (717,714 ) (742,957 )
Outside processing charges (229,147 ) (210,351 )
(1,150,561 ) (1,154,505 )
Net concentrate sales 3,687,316 4,205,776
Processing sales, net of charges 2,190,250 -
Total revenue $ 5,877,566 $ 4,205,776

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Accounting Policies [Abstract]
Outstanding stock options were excluded2,400,000 2,400,000 2,400,000 2,400,000
Accumulated deficit (in Dollars) $ (13,693,297) $ (13,693,297) $ (11,291,811)
Net loss (in Dollars)(331,945) $ (455,250)(2,401,486) $ (1,753,518)
Working capital (in Dollars) $ 13,643,983 $ 13,643,983

Reclamation Bonds (Details)

Reclamation Bonds (Details) - USD ($)Sep. 30, 2021Dec. 31, 2020
Reclamation Bonds (Details) [Line Items]
Surety bond in escrow account $ 674,000 $ 674,000
Reclamation cost $ 947,084 758,011
Properties escalated from amount189,000
Minimum [Member]
Reclamation Bonds (Details) [Line Items]
Reclamation cost1,348,000
Maximum [Member]
Reclamation Bonds (Details) [Line Items]
Reclamation cost $ 1,537,000

Inventories (Details)

Inventories (Details) - USD ($)Sep. 30, 2021Dec. 31, 2020
Inventory Disclosure [Abstract]
Adjustment to inventory $ 1,265,018 $ 204,127

Inventories (Details) - Schedul

Inventories (Details) - Schedule of inventories - USD ($)Sep. 30, 2021Dec. 31, 2020
Schedule of inventories [Abstract]
Ore on leach pad $ 5,328,635 $ 6,583,986
Carbon column in process225,215 133,640
Finished goods182,271 129,391
Inventory gross5,736,121 6,847,017
Less long-term portion(1,466,297)(1,505,020)
Total $ 4,269,824 $ 5,341,997

Property and Equipment (Details

Property and Equipment (Details) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Property and Equipment (Details) [Line Items]
Amortization expense $ 20,412 $ 28,817 $ 38,170 $ 83,965
Depreciation expense222,804 $ 231,824 658,337 $ 653,453
Net carrying value of equipment290,889 290,889
Outstanding note payable86,806 86,806
Loss on disposal204,083
HP3 Crushing System [Member]
Property and Equipment (Details) [Line Items]
Accrued rent payable158,000 158,000
HP4 Crushing System [Member]
Property and Equipment (Details) [Line Items]
Accrued rent payable $ 215,510 $ 215,510

Property and Equipment (Detai_2

Property and Equipment (Details) - Schedule of property and equipment - USD ($)Sep. 30, 2021Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Less accumulated amortization $ (797,021) $ (758,851)
Property and equipment, Total4,973,976 5,389,660
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross6,868,268 6,780,121
Less accumulated amortization(3,594,707)(3,129,046)
Property and equipment, Total3,273,561 3,651,075
Equipment [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross6,443,815 6,361,808
Furniture and fixtures [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross6,981 6,981
Electronic and computer equipment [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross50,587 50,587
Vehicles [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross322,045 315,905
Land improvements [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross44,840 44,840
Kiewit property facilities [Member] | Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross2,497,435 2,497,436
Kiewit property facilities [Member] | Total [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Total $ 1,700,414 $ 1,738,585

Mineral Properties and Intere_3

Mineral Properties and Interests (Details)9 Months Ended
Sep. 30, 2021
Mineral Industries Disclosures [Abstract]
Joint venture agreement, descriptionThe Company is required to pay a 4% net smelter
royalty (“NSR”) to PDK on revenues of gold and silver from the Kiewit gold property and the JJS properties.

Mineral Properties and Intere_4

Mineral Properties and Interests (Details) - Schedule of mineral properties and interests - USD ($)Sep. 30, 2021Dec. 31, 2020
Schedule of mineral properties and interests [Abstract]
Kiewit and all other sites $ 3,700,000 $ 3,700,000
JJS property250,000 250,000
Total3,950,000 3,950,000
Less accumulated amortization(840,363)(770,560)
Total3,109,638 3,179,440
Asset retirement obligation assets
Kiewit Site725,122 718,289
Kiewit Exploration28,377 28,377
JJS property31,016 31,016
Total784,515 777,682
Less accumulated amortization(186,837)(171,254)
Mineral properties after accumulated depletion597,679 606,428
Total $ 3,707,316 $ 3,785,868

Prepaid Forward Gold Contract_3

Prepaid Forward Gold Contract Liability (Details) - USD ($)Dec. 01, 2020Dec. 31, 2019Sep. 30, 2021Dec. 31, 2020
Prepaid Forward Gold Contract Liability (Details) [Line Items]
Common shares8,000
Accrued interest $ 65,792 $ 5,600
Accrued liabilities
PDK [Member]
Prepaid Forward Gold Contract Liability (Details) [Line Items]
Original purchase agreementUnder the terms of the original Purchase Agreement,
as amended, PDK agreed to purchase a total of 47,045 ounces of gold from the Company.
Per month ounce rate $ 500
Debt received net amount $ 13,600,000
Purchase agreement, descriptionThe Purchase Agreement contains a royalty provision
whereby royalties of 4% are due to PDK on gold and silver recovered from mining operations at the Kiewit site and sold by the Company
to a third party. Under the Purchase Agreement, the Company also pays a 5% withholding tax to the state of Utah on the PDK royalty payments.
Royalties are payable within 30 days following the end of each fiscal quarter. 
Prepaid forward gold contract liability, descriptionthe Company notified PDK
that it would not be able to make the December delivery of gold and elected to use one of the delivery postponement options under the
Purchase Agreement, as amended. This provision permits the Company to delay delivery by up to 30 days by delivering the amount of gold
due within 30 days, plus interest calculated at the default interest rate, thereby causing the December ounces to be come due in January
2021. At the end of this 30-day extension period the Company was unable to deliver the December payment and the amount became due on January
25, 2021.
a cumulative of 8,809 and 655 ounces, respectively, were scheduled to be delivered to
PDK under the terms of the Purchase Agreement. The ounces due but unpaid to PDK at September 30, 2021 have been reflected in “due
to PDK in lieu of gold deliveries’ at the amount calculated based on the Company’s option to pay cash in lieu of delivery
at $500 per ounce.
a cumulative of 8,809 and 655 ounces, respectively, were scheduled to be delivered to
PDK under the terms of the Purchase Agreement. The ounces due but unpaid to PDK at September 30, 2021 have been reflected in “due
to PDK in lieu of gold deliveries’ at the amount calculated based on the Company’s option to pay cash in lieu of delivery
at $500 per ounce.

Prepaid Forward Gold Contract_4

Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver goldSep. 30, 2021
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Total Gold Ounces47,045
December 2020 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month655
Total Gold Ounces655
January 2021 to March 2021 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month896
Total Gold Ounces2,688
April 2021 to March 2022 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month911
Total Gold Ounces10,932
April 2022 to March 2023 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month1,396
Total Gold Ounces16,752
April 2023 to December 2023 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month1,753
Total Gold Ounces15,777
January 2024 [Member]
Prepaid Forward Gold Contract Liability (Details) - Schedule of company is obligated to deliver gold [Line Items]
Gold Ounces per Month241
Total Gold Ounces241

Prepaid Forward Gold Contract_5

Prepaid Forward Gold Contract Liability (Details) - Schedule of related contract expense9 Months Ended
Sep. 30, 2021USD ($)
Schedule of related contract expense [Abstract]
Total ounces to be delivered through September 30, 2021 $ 8,809
Contractual payment per ounce in lieu of delivery500
Amount due to PDK at September 30, 20214,404,500
Forward gold contract balance associated with 8,809 ounces(2,546,506)
Forward gold contract expense for the nine months ended September 30, 20211,857,994
Prepaid forward gold contract liability balance at December 31, 202013,600,000
Forward gold contract balance associated with 8,809 ounces(2,546,506)
Prepaid forward gold contract liability balance at September 30, 2021 $ 11,053,494

Prepaid Forward Gold Contract_6

Prepaid Forward Gold Contract Liability (Details) - Schedule of related contract expense (Parentheticals)9 Months Ended
Sep. 30, 2021oz
Schedule of related contract expense [Abstract]
Forward gold contract balance associated with ounces8,809

Prepaid Forward Gold Contract_7

Prepaid Forward Gold Contract Liability (Details) - Schedule of royalties, upside participation and interest payable - USD ($)9 Months Ended12 Months Ended
Sep. 30, 2021Dec. 31, 2020
Schedule of royalties, upside participation and interest payable [Abstract]
Royalties payable $ 404,316 $ 210,802
Royalties withholding payable19,760 11,095
Upside participation payable1,294,074 576,360
Interest payable65,792 5,600
Total $ 1,783,942 $ 803,857

Notes Payable _ Equipment (Deta

Notes Payable – Equipment (Details) - Schedule of the equipment notes payable - USD ($)Sep. 30, 2021Dec. 31, 2020
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Total Principal amount $ 797,005 $ 1,208,186
Current portion(677,934)(981,759)
Long term portion119,071 226,427
Principal payments due are as follows for the twelve months ended:
June 30,2022677,934
June 30, 2023119,071
Notes Payable [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable[1]61,759 304,845
Notes Payable One [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable65,909
Notes Payable Two [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable[1]16,976 69,230
Notes Payable Three [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable[2] 86,807
Notes Payable Four [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable267,168 386,268
Notes Payable Five [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable[1]157,137 349,761
Notes Payable Six [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable $ 11,275
Notes Payable Seven [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable184,252
Notes Payable Eight [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable [Line Items]
Note payable $ 43,804
[1]Wheeler CAT has extended the terms of this 12-month amortization,
allowing for continued monthly payments of the same amount until other financing becomes available or until the balance has been paid
in full, whichever comes first.
[2]In February 2021, Wheeler CAT requested the return of this
equipment because the Company was 5 payments delinquent in its obligation on this note payable. This truck was then purchased from Wheeler
CAT by a related party who in February began leasing the truck to the Company on a month-to-month rental. See Note 11. This arrangement
relieved the Company of any other financial obligation on this note.

Notes Payable _ Equipment (De_2

Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals)9 Months Ended
Sep. 30, 2021USD ($)
Notes Payable [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments12
Installments amount (in Dollars) $ 19,575
Interest rate percentage8.50%
Maturity dateJun. 30,
2021
Balloon payment (in Dollars) $ 150,164
Notes Payable One [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments10
Installments amount (in Dollars) $ 22,300
Interest rate percentage9.00%
Notes Payable Two [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments12
Installments amount (in Dollars) $ 4,365
Interest rate percentage9.00%
Notes Payable Three [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments11
Installments amount (in Dollars) $ 14,475
Interest rate percentage9.00%
Maturity dateApr. 30,
2020
Balloon payment (in Dollars) $ 168,873
Notes Payable Four [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments6
Installments amount (in Dollars) $ 22,235
Maturity dateApr. 30,
2020
Balloon payment (in Dollars) $ 488,317
Notes Payable Five [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments11
Installments amount (in Dollars) $ 19,125
Interest rate percentage9.00%
Maturity dateJul. 31,
2020
Balloon payment (in Dollars) $ 350,281
Notes Payable Six [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments11
Installments amount (in Dollars) $ 10,320
Interest rate percentage9.00%
Maturity dateMay 31,
2020
Balloon payment (in Dollars) $ 71,372
Notes Payable Seven [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments14
Installments amount (in Dollars) $ 14,475
Interest rate percentage7.48%
Maturity dateAug. 31,
2022
Balloon payment (in Dollars) $ 18,185
Notes Payable Eight [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments19
Installments amount (in Dollars) $ 4,675
Interest rate percentage15.00%
Maturity dateFeb. 28,
2021
Note payable to Epiroc [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments36
Installments amount (in Dollars) $ 14,679
Interest rate percentage5.20%
Note payable to Komatsu Equipment [Member]
Notes Payable – Equipment (Details) - Schedule of the equipment notes payable (Parentheticals) [Line Items]
Number of installments | Installments12
Installments amount (in Dollars) $ 28,823
Interest rate percentage4.60%
Balloon payment (in Dollars) $ 1,903

Asset Retirement Obligation (De

Asset Retirement Obligation (Details)9 Months Ended
Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations, descriptionThe asset retirement
asset and obligation increased by $6,833 and $125,363, respectively, as a result of a change in the estimated timing of costs and the
impact of discounting the costs to present value.
Risk-free interest rate10.00%

Asset Retirement Obligation (_2

Asset Retirement Obligation (Details) - Schedule of asset retirement obligations - USD ($)9 Months Ended
Sep. 30, 2021Sep. 30, 2020
Schedule of asset retirement obligations [Abstract]
Asset retirement obligation, beginning of period $ 1,233,514 $ 826,637
Obligation incurred:
Kiewit properties6,833 94,347
JJS property 31,016
Accretion expense91,461 69,601
Asset retirement obligation, end of period $ 1,331,808 $ 1,021,601

Capital Stock (Details)

Capital Stock (Details) - $ / shares9 Months Ended
Sep. 30, 2021Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Common stock, shares authorized100,000,000 100,000,000
Voting rights, descriptionVoting rights are not cumulative and, therefore,
the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company.
Sale of common stock200,000
Sale of common stock price per share (in Dollars per share) $ 1
Preferred stock, shares authorized10,000,000 10,000,000
Preferred stock, par value (in Dollars per share) $ 0.001 $ 0.001

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)Feb. 01, 2021Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Related Party Transactions (Details) [Line Items]
Rent expense $ 4,500 $ 4,500 $ 13,500 $ 12,500
Accrued expenses $ 65,055 $ 65,055
Associated note payable, descriptionthe Company with an associated note payable to Wheeler CAT. See Note 5. Beginning February 1, 2021, the Company
began renting this truck from RMH at a rate of $10,000 per month on a month-to-month rental. At September 30, 2021 and December 31, 2020,
amounts of $10,000 and $ Nil, respectively, are due to RMH Overhead, LLC for rent of this equipment, and this amount is included in accounts
payable and accrued expenses on the balance sheet.
LLC [Member]
Related Party Transactions (Details) [Line Items]
Accounts payable
Accrued expenses
One Director [Member]
Related Party Transactions (Details) [Line Items]
Fees received6,000
Another Director [Member]
Related Party Transactions (Details) [Line Items]
Fees received5,000
Director [Member]
Related Party Transactions (Details) [Line Items]
Accrued compensation $ 61,000 $ 61,000 $ 11,000

Revenue (Details)

Revenue (Details) - USD ($)Sep. 30, 2021Dec. 30, 2020
Revenue from Contract with Customer [Abstract]
Sales receivable $ 59,675

Revenue (Details) - Schedule of

Revenue (Details) - Schedule of sales of products - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Schedule of sales of products [Abstract]
Gold $ 1,784,936 $ 1,979,156 $ 4,768,124 $ 5,307,976
Silver23,246 20,420 69,753 52,305
Total product sales1,808,182 1,999,576 4,837,877 5,360,281
Less: Royalties(76,134)(84,189)(203,700)(201,197)
Upside participation payments(266,175)(332,035)(717,714)(742,957)
Outside processing charges(89,838)(83,623)(229,147)(210,351)
Total(432,147)(499,847)(1,150,561)(1,154,505)
Net concentrate sales1,376,035 1,499,729 3,687,316 4,205,776
Processing sales, net of charges753,755 2,190,250
Total revenue $ 2,129,790 $ 1,499,729 $ 5,877,566 $ 4,205,776

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)May 11, 2018Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Commitments and Contingencies (Details) [Line Items]
Amount due $ 35,568
Finder's agreement, descriptionthe Company entered into an agreement
with Mount Royal Consultants (Mount Royal) to assist in finding prospective investors. Mount Royal would receive a finder’s fee
of 7% for a connection with a company that resulted in a qualified investment consisting of equity securities or a fee of 3% for a connection
with a company that resulted in a purchase of debt securities.
Claim fees15,199 $ 11,025 15,199 $ 11,025
Mr. Havenstrite [Member]
Commitments and Contingencies (Details) [Line Items]
Base annual salary144,000
Accrued compensation56,159 56,159 37,697
Rick Havenstrite [Member]
Commitments and Contingencies (Details) [Line Items]
Accrued compensation37,697 37,697 26,620
Marianne Havenstrite [Member]
Commitments and Contingencies (Details) [Line Items]
Accrued compensation18,462 18,462 11,077
Director [Member]
Commitments and Contingencies (Details) [Line Items]
Accrued compensation $ 61,000 61,000 $ 34,000
Mining Lease [Member]
Commitments and Contingencies (Details) [Line Items]
Annual claims fees $ 155

Subsequent Events (Details)

Subsequent Events (Details)9 Months Ended
Sep. 30, 2021USD ($)
Subsequent Events [Abstract]
Additional bonding amount $ 550,000
Additional amount $ 400,000