Document and Entity Information
Document and Entity Information | 12 Months Ended |
Sep. 30, 2021 $ / shares shares | |
Registrant CIK | 0001409036 |
Document Period Start Date | Oct. 01, 2020 |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Sep. 30, 2021 |
Current Fiscal Year End Date | --09-30 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 000-55193 |
Entity Registrant Name | Alianza Minerals Ltd. |
Country of incorporation | Canada |
Entity Incorporation, State or Country Code | Z4 |
Entity Address, Address Line One | Suite 410 |
Entity Address, Address Line Two | 325 Howe Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 1Z7 |
Title of 12(g) Security | Common Shares, no par value |
Entity Listing, Par Value Per Share | $ / shares | $ 0 |
Entity Common Stock, Shares Outstanding | shares | 148,950,655 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Entity Accounting Standard | International Financial Reporting Standards |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Amendment Flag | false |
No Trading Symbol Flag | true |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Business Contact | |
Entity Address, Address Line One | Suite 410 |
Entity Address, Address Line Two | 325 Howe Street |
Entity Address, City or Town | Vancouver |
Entity Address, State or Province | BC |
Entity Address, Country | CA |
Entity Address, Postal Zip Code | V6C 1Z7 |
Entity Address, Address Description | Address of principal executive offices |
Contact Personnel Name | Winnie Wong |
Contact Personnel Email Address | wwong@pacificopportunity.com |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
Current assets | ||
Cash | $ 412,676 | $ 278,993 |
Restricted Cash | 0 | 83,070 |
Deferred financing costs | 0 | 13,695 |
Due from alliance partner | 126,047 | 0 |
Receivables | 43,953 | 13,759 |
Prepaid expenses | 24,784 | 90,420 |
Assets, Current | 607,460 | 479,937 |
Non-current assets | ||
Exploration and evaluation assets | 7,708,379 | 4,325,562 |
Deposits | 27,662 | 0 |
VAT receivables | 36,052 | 42,079 |
Assets, Noncurrent | 7,772,093 | 4,367,641 |
Total assets | 8,379,553 | 4,847,578 |
Current liabilities | ||
Accounts payable and accrued liabilities | 214,163 | 191,727 |
Due to related parties | 214,731 | 271,337 |
Funds held for optionee | 0 | 83,070 |
Flow-through share premium liability | 33,050 | 0 |
Liabilities, Current | 461,944 | 546,134 |
Shareholders' equity | ||
Common Stock, Value | 24,290,287 | 20,068,707 |
Reserves | 3,229,886 | 2,875,483 |
Accumulated other comprehensive loss | (44,933) | (24,239) |
Deficit | (19,557,631) | (18,618,507) |
Stockholders' Equity Attributable to Parent | 7,917,609 | 4,301,444 |
Total shareholders' equity and liabilities | $ 8,379,553 | $ 4,847,578 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Expenses | |||
Accounting and legal fees | $ 207,000 | $ 196,373 | $ 138,690 |
Depreciation | 0 | 140 | 412 |
Investor relations and shareholder information | 517,551 | 550,196 | 83,654 |
Office facilities and administrative services | 18,000 | 18,000 | 18,000 |
Office expenses | 13,469 | 19,134 | 18,851 |
Property investigation expenses | 53,953 | 9,965 | 1,592 |
Share-based payments | 202,304 | 0 | 162,208 |
Transfer agent, listing and filing fees | 47,721 | 41,775 | 23,457 |
Travel | 3,054 | 18,879 | 8,470 |
Wages, benefits and consulting fees | 193,848 | 113,703 | 143,106 |
Operating Expenses | (1,256,900) | (968,165) | (598,440) |
Interest income and other income | 1,187 | 1,888 | 7,228 |
Flow-through share premium recovery | 349,676 | 21,459 | 149,658 |
Foreign exchange (loss) | (24,618) | (23,788) | (4,311) |
Gain (loss) on disposal of equipment | 0 | (198) | 8,635 |
Write-off of investment in associates - royalty interest | 0 | 0 | (560,139) |
Write-down of exploration and evaluation assets | (8,469) | (87,338) | 0 |
Net Income (Loss) Attributable to Parent | (939,124) | (1,056,142) | (997,369) |
Other comprehensive income (loss) | |||
Exchange difference arising on the translation of foreign subsidiary | (20,694) | 2,380 | (6,519) |
Total comprehensive loss for the year | $ (959,818) | $ (1,053,762) | $ (1,003,888) |
Basic and diluted loss per common share | $ (0.01) | $ (0.01) | $ (0.02) |
Weighted average number of common shares outstanding - basic and diluted | 139,269,888 | 96,348,048 | 61,804,273 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) | Common Stock | Equity settled employee benefits | Warrant | Finders' warrants | Foreign exchange reserve | Retained earnings | Total |
Equity Balance, Starting at Sep. 30, 2018 | $ 16,863,904 | $ 1,788,405 | $ 641,848 | $ 246,791 | $ (20,100) | $ (16,564,996) | $ 2,955,852 |
Shares Outstanding, Starting at Sep. 30, 2018 | 45,141,668 | ||||||
Private Placements, amount | $ 1,796,583 | 0 | 0 | 0 | 0 | 0 | 1,796,583 |
Private Placements, Shares | 35,931,666 | ||||||
Acquisition of exploration and evaluation assets | $ 89,625 | 0 | 0 | 0 | 0 | 0 | 89,625 |
Acquisition of exploration and evaluation assets | 1,361,363 | ||||||
Share issue costs | $ (263,006) | 0 | 0 | 63,816 | 0 | 0 | (199,190) |
Stock Granted, Value, Share-based Compensation, Net of Forfeitures | $ 0 | 162,208 | 0 | 0 | 0 | 0 | 162,208 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | ||||||
Exercise of options | 0 | ||||||
Exercise of warrants | 0 | ||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | (6,519) | (997,369) | (1,003,888) |
Shares Outstanding, Ending at Sep. 30, 2019 | 82,434,697 | ||||||
Equity Balance, Ending at Sep. 30, 2019 | $ 18,487,106 | 1,950,613 | 641,848 | 310,607 | (26,619) | (17,562,365) | 3,801,190 |
Private Placements, amount | $ 1,100,000 | 0 | 0 | 0 | 0 | 0 | 1,100,000 |
Private Placements, Shares | 22,000,000 | ||||||
Share issue costs | $ (111,550) | 0 | 0 | 32,665 | 0 | 0 | (78,885) |
Acquisition of exploration and evaluation assets, Amount | $ 144,750 | 0 | 0 | 0 | 0 | 0 | 144,750 |
Acquisition of exploration and evaluation assets, Shares | 1,325,000 | ||||||
Exercise of options | $ 45,125 | (20,125) | 0 | 0 | 0 | 0 | 25,000 |
Exercise of options | 250,000 | ||||||
Exercise of Finder's Warrants, Amount | $ 100,276 | 0 | 0 | (40,125) | 0 | 0 | 60,151 |
Exercise of Finder's Warrants, Shares | 1,203,025 | ||||||
Exercise of warrants | $ 303,000 | 0 | 0 | 0 | 0 | 0 | 303,000 |
Exercise of warrants | 3,030,000 | ||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | 2,380 | (1,056,142) | (1,053,762) |
Shares Outstanding, Ending at Sep. 30, 2020 | 110,242,722 | ||||||
Equity Balance, Ending at Sep. 30, 2020 | $ 20,068,707 | 1,930,488 | 641,848 | 303,147 | (24,239) | (18,618,507) | 4,301,444 |
Private Placements, amount | $ 4,065,589 | 0 | 0 | 0 | 0 | 0 | 4,065,589 |
Private Placements, Shares | 32,061,833 | ||||||
Share issue costs | $ (502,142) | 0 | 0 | 153,927 | 0 | 0 | (348,215) |
Acquisition of exploration and evaluation assets, Amount | $ 29,500 | 0 | 0 | 0 | 0 | 0 | 29,500 |
Acquisition of exploration and evaluation assets, Shares | 350,000 | ||||||
Exercise of options | 0 | ||||||
Exercise of Finder's Warrants, Amount | $ 4,633 | 0 | 0 | (1,828) | 0 | 0 | 2,805 |
Exercise of Finder's Warrants, Shares | 56,100 | ||||||
Exercise of warrants | $ 624,000 | 0 | 0 | 0 | 0 | 0 | 624,000 |
Exercise of warrants | 6,240,000 | ||||||
Share-based private placements | $ 0 | 202,304 | 0 | 0 | 0 | 0 | 202,304 |
Share-based private placements | 0 | ||||||
Net Income (Loss) | $ 0 | 0 | 0 | 0 | (20,694) | (939,124) | (959,818) |
Shares Outstanding, Ending at Sep. 30, 2021 | 148,950,655 | ||||||
Equity Balance, Ending at Sep. 30, 2021 | $ 24,290,287 | $ 2,132,792 | $ 641,848 | $ 455,246 | $ (44,933) | $ (19,557,631) | $ 7,917,609 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from (used in) operating activities | |||
Net loss for the year | $ (939,124) | $ (1,056,142) | $ (997,369) |
Items not affecting cash | |||
Depreciation | 0 | 140 | 412 |
(Gain) loss on disposal of equipment | 0 | 198 | (8,635) |
Flow-through share premium recovery | (349,676) | (21,459) | (149,658) |
Share-based payments | 202,304 | 0 | 162,208 |
Write-off of investment in associates - royalty interest | 0 | 0 | 560,139 |
Write-down of exploration and evaluation assets | 8,469 | 87,338 | 0 |
Changes in non-cash working capital items | |||
Receivables | (30,622) | 40,236 | (36,386) |
Due from alliance partner | (126,047) | ||
VAT Receivables | (1,102) | (994) | (5,900) |
Prepaid expenses | 53,109 | 238,045 | (315,597) |
Accounts payable and accrued liabilities | (48,373) | 51,149 | (2,947) |
Due to related parties | (24,606) | (48,600) | (6,441) |
Funds held for optionee | (83,070) | 53,524 | 29,546 |
Net cash (used in) operating activities | (1,338,738) | (656,565) | (770,628) |
Cash flows from (used in) investing activities | |||
Sale of equipment | 0 | 0 | 8,652 |
Deposits | (27,563) | ||
Exploration and evaluation assets | (3,298,056) | (628,007) | (712,345) |
Net cash (used in) investing activities | (3,325,619) | (628,007) | (703,693) |
Cash flows from (used in) financing activities | |||
Proceeds from issuance of common shares | 4,448,315 | 1,100,000 | 1,967,700 |
Exercise of warrants | 624,000 | 303,000 | 0 |
Proceeds from exercise of finder's warrants | 2,805 | 60,151 | 0 |
Exercise of options | 0 | 25,000 | 0 |
Share issue costs | (368,215) | (97,385) | (141,008) |
Net cash provided by financing activities | 4,706,905 | 1,390,766 | 1,826,692 |
Effect of exchange rate changes on cash | 8,065 | (96,661) | (6,440) |
Change in cash for the year | 50,613 | 9,533 | 345,931 |
Cash, beginning of the year | 362,063 | 352,530 | 6,599 |
Cash, end of the year | $ 412,676 | $ 362,063 | $ 352,530 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS - Supplemental disclosure - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Cash comprised of | |||
Cash | $ 412,676 | $ 278,993 | $ 322,984 |
Restricted Cash | 0 | 83,070 | 29,546 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents | 412,676 | 362,063 | 352,530 |
Supplemental Cash Flow Information | |||
Cash Held for flow-through expenditures | 396,594 | 0 | 317,007 |
Cash Included in accounts payable and accrued liabilities is related to flow-through expenditures | $ 40,413 | $ 0 | $ 227,873 |
1. NATURE OF OPERATIONS AND GOI
1. NATURE OF OPERATIONS AND GOING CONCERN | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
1. NATURE OF OPERATIONS AND GOING CONCERN | 1. NATURE OF OPERATIONS AND GOING CONCERN Alianza Minerals Ltd. (the “Company” or “Alianza”) was incorporated in Alberta on October 21, 2005 under the Business Corporations Act of Alberta and its registered office is Suite 410, 325 Howe Street, Vancouver, BC, Canada, V6C 1Z7. On April 25, 2008 the Company filed for a certificate of continuance and is continuing as a BC Company under the Business Corporations Act (British Columbia). The Company is an exploration stage company and is engaged principally in the acquisition and exploration of mineral properties. The recovery of the Company’s investment in its exploration and evaluation assets is dependent upon the future discovery, development and sale of minerals, upon the ability to raise sufficient capital to finance these activities, and/or upon the sale of these properties. These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) applicable to a going concern, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The ability of the Company to continue as a going concern is dependent on obtaining additional financing through the issuance of common shares or obtaining joint venture or property sale agreements for one or more properties. There can be no assurance that the Company will be able to continue to raise funds in which case the Company may be unable to meet its obligations. Should the Company be unable to realize on its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded on the consolidated statement of financial position. The consolidated financial statements do not include adjustments to amounts and classifications of assets and liabilities that might be necessary should the Company be unable to continue operations. Adverse financial market conditions and volatility increase the uncertainty of the Company’s ability to continue as a going concern given the need to both manage expenditures and to raise additional funds. The Company is experiencing, and has experienced, negative operating cash flows. The Company will continue to search for new or alternate sources of financing but anticipates that the current market conditions may impact the ability to source such funds. Accordingly, these material uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern. As at September 30, 2021, the Company had a working capital deficiency of $145,516 (September 30, 2020: working capital deficiency of $66,197) and shareholders’ equity of $7,917,609 (September 30, 2020: $4,301,444). |
2. BASIS OF PREPARATION
2. BASIS OF PREPARATION | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
2. BASIS OF PREPARATION | 2. BASIS OF PREPARATION Statement of Compliance These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). Basis of preparation These consolidated financial statements have been prepared on a historical cost basis. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are published at the time of preparation. New accounting standards and interpretations Certain new accounting standards and interpretations have been published that are not mandatory for the September 30, 2021 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective: · An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position. |
3. SIGNIFICANT ACCOUNTING POLIC
3. SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
3. SIGNIFICANT ACCOUNTING POLICIES | 3. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements of the Company include the accounts of Alianza Minerals Ltd. and the following entities: Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Peru Exploration LLC 100% Delaware, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company (1) All subsidiaries are entities that we control, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss. Certain of our business activities are conducted through associates (see below). Interests in Joint Arrangements A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement. Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements. Investments in Associates and Joint Ventures Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method. The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets such as dividends. The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture. If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized. At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture. Foreign currencies The functional and presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rate of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The Company has determined that the functional currency of its subsidiaries in Peru is the Peruvian nuevo sole and the functional currency of its subsidiaries in USA is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the foreign exchange reserve. Exploration and evaluation The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of its mineral claims and crediting all proceeds received against the cost of related claims. Such costs include, but are not exclusive to, geological, geophysical studies, exploratory drilling and sampling. At such time as commercial production commences, these costs will be charged to operations on a unit-of-production method based on proven and probable reserves. The aggregate costs related to abandoned mineral claims are charged to operations at the time of any abandonment or when it has been determined that there is evidence of a permanent impairment. An impairment charge relating to a mineral property is subsequently reversed when new exploration results or actual or potential proceeds on sale result in a revised estimate of the recoverable amount but only to the extent that this does not exceed the original carrying value of the property that would have resulted if no impairment had been recognized. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in income costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Upon transfer of “Exploration and evaluation costs” into “Mine development”, all subsequent expenditure on the construction, installation or completion of infrastructure facilities is capitalized within “Mine development”. After production starts, all assets included in “Mine development” are transferred to “Producing mines”. All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditures are not expected to be recovered, they are charged to operations. Exploration areas where reserves have been discovered, but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of reserves exist or to ensure that additional exploration work is underway as planned. Decommissioning, restoration, and similar obligations An obligation to incur restoration, rehabilitation and environmental costs arises when an environmental disturbance is caused by the exploration, development or ongoing production of a mineral property interest. Such costs arising for the decommissioning of plant and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying value of the asset, as soon as the obligation to incur such costs arises. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. These costs are charged against profit or loss over the economic life of the related asset, through amortization using either the unit-of-production or the straight-line method. The related liability is adjusted each period for the unwinding of the discount rate and for changes to the current market-based discount rate, amount or timing of the underlying cash flows needed to settle the obligation. Costs for restoration of subsequent site damage which is created on an ongoing basis during production are provided for at their net present values and charged against profits as extraction progresses. As at September 30, 2021, the Company has no material restoration, rehabilitation and environmental costs as the disturbance to date is minimal. Financial instruments The Company recognizes an allowance using the Expected Credit Loss (“ECL”) model on financial assets classified as amortized cost. The Company has elected to use the simplified approach for measuring ECL by using a lifetime expected loss allowance for all amounts recoverable. Under this model, impairment provisions are based on credit risk characteristics and days past due. When there is no reasonable expectation of collection, financial assets classified as amortized cost are written off. Indications of credit risk arise based on failure to pay and other factors. Should objective events occur after an impairment loss is recognized, a reversal of impairment is recognized in the statement of loss and comprehensive loss. We have assessed the classification and measurement of our financial assets and financial liabilities under IFRS 9 as follows: IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Due from alliance partner Amortized cost Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized in the consolidated statements of comprehensive income or loss. Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made, relate to, but are not limited to, the following: Critical judgments The following are critical judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements: · · · · Impairment At each financial position reporting date, the carrying amounts of the Company’s non-financial assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the statement of comprehensive loss for the period. For the purpose of impairment testing, exploration and evaluation assets are allocated to cash-generating units to which the exploration activity relates. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash generating unit to which the asset belongs. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in the statement of comprehensive loss. Share-based payment transactions The Company’s stock option plan allows the Company’s employees and consultants to acquire shares of the Company through the exercise of granted stock options. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in shareholders’ equity. An individual is classified as an employee when such individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee. The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Warrants with the right to acquire common shares in the Company are typically issued through the Company’s equity financing activities. Where finders’ warrants are issued on a stand-alone basis, their fair values are measured on their issuance date using the Black-Scholes option pricing model and are recorded as both an increase to reserves and as a share issue cost. When warrants are exercised, the cash proceeds along with the amount previously recorded in equity reserves are recorded as share capital. Share capital Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves. Flow-through Shares The resource expenditure deductions for income tax purposes related to exploration and development activities funded by flow-through share arrangements are renounced to investors in accordance with Canadian tax legislation. On issuance, the premium recorded on the flow-through share, being the difference in price over a common share with no tax attributes, is recognized as a liability. As expenditures are incurred, the liability associated with the renounced tax deductions is recognized through profit or loss with a pro-rata portion of the deferred premium. Loss per common share The Company presents basic and diluted loss per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period, adjusted for own shares held. Diluted EPS is determined by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding, adjusted for own shares held and for the effects of all potential dilutive common shares related to outstanding stock options and warrants issued by the Company. Income taxes Income tax on the loss for the periods presented comprises current and deferred tax. Income tax is recognized in the loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Income tax provisions are recognized when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, a provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This requires the application of judgment as to the ultimate outcome, which can change over time depending on facts and circumstances. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognized in income in the period in which the change occurs. Deferred tax assets or liabilities arising from temporary differences between the tax and accounting values of assets and liabilities, are recorded based on tax rates expected to be enacted when these differences are reversed. Deferred tax assets are recognized only to the extent it is considered probable that those assets will be recovered. This involves an assessment of when those deferred tax assets are likely to be realized, and a judgment as to whether or not there will be sufficient taxable profits available to offset the tax assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in respect of deferred tax assets as well as in the amounts recognized in income in the period in which the change occurs. Tax provisions are based on enacted or substantively enacted laws. Changes in those laws could affect amounts recognized in income both in the period of change, which would include any impact on cumulative provisions, and in future periods. Comparative figures Certain comparative figures have been reclassified to conform to the current year's presentation. |
4. EXPLORATION AND EVALUATION A
4. EXPLORATION AND EVALUATION ASSETS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
4. EXPLORATION AND EVALUATION ASSETS | 4. EXPLORATION AND EVALUATION ASSETS The Company typically obtains its mineral exploration rights by way of direct acquisition from government regulatory authorities, outright purchases from third parties, or by entering into option agreements to acquire such rights subject to future consideration, often inclusive of requirements to complete exploration work on such properties. Such costs, when subsequently incurred by the Company, are also capitalized as non-current assets and included within the Exploration and Evaluation category. The Company will, and has, also subsequently entered into arrangements with other parties to vend certain of these interests utilizing similar mechanisms, based on management’s assessment of what is advantageous to the Company. Although the Company has taken steps to verify title to its unproven mineral right interests, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects. The Company has mineral property interests in Nevada, USA (the “USA Properties”), in British Columbia and Yukon Territory of Canada (the “Canada Properties”) and in Peru (the “Peru Properties”). Following are summary tables of exploration and evaluation assets and brief summary descriptions of each of the exploration and evaluation assets: Exploration and Evaluation Assets for the year ended September 30, 2021 USA Canada Peru Horsethief Twin Canyon Bellview BP Strategic Alliance Program Others Haldane KRL Tim Others Yanac Total Balance at September 30, 2020 $ 178,638 $ 351,336 $ 97,786 $ 260,569 $ - $ 23,546 $ 1,627,078 $ 257,487 $ (9,949) $ 1,114,250 $ 424,821 $ 4,325,562 Additions during the year Acquisition costs: Claim staking - 25,482 7,948 - - - - - 33,430 Property acquisition - 19,112 - - 20,041 - 41,500 63,000 - - - 143,653 - 19,112 - - 45,523 7,948 41,500 63,000 - - - 177,083 Exploration expenditures: Aircraft charter - - - - - - 33,058 - - - - 33,058 Camp, travel and meals 2,107 8,983 - 1,003 4,283 322 493,970 - - - - 510,668 Drilling - - - - - - 1,547,793 - - - - 1,547,793 Field equipment rental - 641 - - - - 100,150 - - - - 100,791 Field supplies and maps - 1,057 - - 519 - 31,958 - - - - 33,534 Geochemical 38,348 13,962 - - - - 17,977 - - - - 70,287 Geological consulting 12,959 127,600 725 3,719 67,175 8,902 727,772 7,282 - 1,347 18,499 975,980 Geophysics 3,447 - - - - - - - - - 3,447 Legal and accounting - - - - 14 8 43 - - - - 65 Licence and permits (18,243) 12,577 7,683 32,039 50,908 3,310 8,640 2,500 - 3,570 5,585 108,569 Permitting - 11,501 - - 13,708 1,433 - - - - - 26,642 Reclamation 23,393 - - - - - - - - - 23,393 Reporting, drafting, sampling, and analysis - 11,727 - - - - 18,242 - - - - 29,969 Trenching - 1,529 - - 892 - - - - - - 2,421 62,011 189,577 8,408 36,761 137,499 13,975 2,979,603 9,782 - 4,917 24,084 3,466,617 Less: Recovered exploration expenditures (92,087) - - - (115,893) (13,274) - - - - - (221,254) Write-down of properties - - - - - (8,469) - - - - - (8,469) Net additions (30,076) 208,689 8,408 36,761 67,129 180 3,021,103 72,782 - 4,917 24,084 3,413,977 Foreign currency translation 1,991 (15,751) 178 1,157 - (66) - - - - (18,669) (31,160) Balance at September 30, 2021 $ 150,553 $ 544,274 $ 106,372 $ 298,487 $ 67,129 $ 23,660 $ 4,648,181 $ 330,269 $ (9,949) $ 1,119,167 $ 430,236 $ 7,708,379 Exploration and Evaluation Assets for the year ended September 30, 2020 USA Canada Peru Twin Horsethief Canyon Bellview BP Others Haldane KRL Tim Others Yanac Total Balance at September 30, 2019 $ 173,156 $ - $ 85,548 $ 248,975 $ 23,404 $ 1,433,291 $ 139,847 $ 1 $ 1,198,997 $ 425,012 $ 3,728,231 Additions during the year Acquisition costs: Property acquisition - 185,012 - - - 31,250 101,000 - - - 317,262 - 185,012 - - - 31,250 101,000 - - - 317,262 Exploration expenditures: Aircraft charter - - - - - 30,366 - - - - 30,366 Camp, travel and meals 45,929 16,353 - - - 11,274 690 - - - 74,246 Community relations - - - - - 1,420 - - - - 1,420 Drilling 540,092 - - - - 7,020 - - - - 547,112 Field equipment rental 13,094 - - - - 6,788 4 - - - 19,886 Field supplies and maps 12,761 3,266 - - - 5,397 - - - - 21,424 Geochemical 114,324 11,375 1,870 1,478 - 2,100 - - - - 131,147 Geological consulting 245,193 106,014 71 1,701 - 80,548 13,816 50 2,591 - 449,984 Geophysics 45,753 - - - - - - - 45,753 Legal and accounting 3,335 - - - - 38 500 - - - 3,873 Licence and permits 43,400 29,316 10,368 33,424 3,501 5,335 - - - 5,885 131,229 Management fees 121,169 - - - - - - - - - 121,169 Reporting, drafting, sampling, and analysis - - - - - 12,251 1,630 - - - 13,881 Trenching 31,267 - - - - - - - 31,267 1,216,317 166,324 12,309 36,603 3,501 162,537 16,640 50 2,591 5,885 1,622,757 Less: Recovered exploration expenditures (1,210,473) - - (25,009) (3,359) - - (10,000) - - (1,248,841) Write-down of properties - - - - - - - (87,338) - (87,338) Net additions 5,844 351,336 12,309 11,594 142 193,787 117,640 (9,950) (84,747) 5,885 603,840 Foreign currency translation (362) - (71) - - - - - - (6,076) (6,509) Balance at September 30, 2020 $ 178,638 $ 351,336 $ 97,786 $ 260,569 $ 23,546 $ 1,627,078 $ 257,487 $ (9,949) $ 1,114,250 $ 424,821 $ 4,325,562 USA On January 27, 2015, the Company signed a binding agreement to acquire eight gold properties in Nevada, USA from Sandstorm Gold Ltd. (“Sandstorm”) by issuing 150,000 shares to Sandstorm and granting a net smelter returns royalty ranging from 0.5% to 1.0%. The Company also granted Sandstorm a right of first refusal on any future metal streaming agreements on these properties. In 2015 and 2016, the Company dropped four of the gold properties. The properties retained are: · · · · a) Horsethief (Nevada) The Horsethief property is located in Lincoln County, northeast of Pioche. A 2% NSR is payable to a previous owner of the property from production from some claims on the property while a 1% NSR is payable to Sandstorm on all the claims on the property. In 2017, the Company acquired new ground by staking an additional 33 BLM Iode mining claims at the Horsethief property. On March 1, 2019 (“Effective Date”), the Company entered into an option agreement with Hochschild Mining (US) Inc. (“Hochschild”) whereby Hochschild could earn up to a 70% undivided interest in the Horsethief property. Under the terms of the agreement, Hochschild could earn an initial 60% interest in the project by US$5,000,000 in exploration on the property over a 5.5-year period. During the option period, Hochschild had forwarded a total of $1,601,766 (US$1,200,814) for the Horsethief property. On November 20, 2020, Hochschild terminated the earn-in on the Horsethief project. Thus, the Company retains 100% interest in the Horsethief project. b) Bellview (Nevada) The Bellview property is located in White Pine County, near the Bald Mountain Gold Mine. On February 7, 2019 (“Effective Date”), the Company entered into an option agreement with Hochschild whereby Hochschild could earn up to a 70% undivided interest in the Bellview property. Under the terms of the agreement, Hochschild could earn an initial 60% interest in the project by US$3,500,000 in exploration on the property over a 5.5-year period. During the option period, Hochschild had forwarded a total of $124,502 (US$94,014) for the Bellview property. On November 25, 2019, Hochschild terminated the earn-in on the Bellview project. Thus, the Company retains 100% interest in the Bellview project. c) BP (Nevada) On June 10, 2013, the Company purchased from Almaden Minerals Ltd. (“Almaden”) the BP property in Nevada, USA. A 2% NSR is payable to Almadex Minerals Limited (“Almadex”) on future production on the property after Almaden transferred the NSR right to Almadex. In 2017, the Company acquired new ground by staking an additional 48 BLM Iode mining claims at the BP property. On March 1, 2019 (“Effective Date”), the Company entered into an option agreement with Hochschild whereby Hochschild could earn up to a 70% undivided interest in the BP property. Under the terms of the agreement, Hochschild could earn an initial 60% interest in the project by US$2,500,000 in exploration on the property over a 4.5-year period. During the option period, Hochschild had forwarded a total of $179,343 (US$138,267) for the BP property. On November 25, 2019, Hochschild terminated the earn-in on the BP project. Thus, the Company retains 100% interest in the BP project. September 30, 202 September 30, 2020 Restricted cash & Funds held for optionee Horsethief – Hochschild $ - $ 83,070 $ - $ 83,070 d) Twin Canyon (Colorado) On June 17, 2020, the Company acquired a lease of the Twin Canyon gold property in southwest Colorado under the following terms: · · · · The Company agreed to assume the terms of Myron Goldstein and Jon Thorson’s commitments under the lease, namely the annual lease payments of US$15,000 for ten years, with the right to extend the lease for 2 additional terms of ten years each. The original property owner has a 1.5% NSR on the property, two-thirds (1%) of which is purchasable at any time for US$1,000,000. If annual NSR payments exceed US$20,000 in a given year, the Company will not have to make the annual US$15,000 lease payment for that year. d) Twin Canyon (Colorado) As of September 30, 2021, the Company had spent $544,274 on advancing this property, including the acquisition costs. e) Others – Klondike (Colorado) The Company acquired the Klondike property by staking a 100% interest in this property in Colorado. On June 7, 2021, the Company and Cloudbreak Discovery PLC (“Cloudbreak”) entered into an Alliance Agreement. Under the terms of the Alliance Agreement, either company can introduce projects to the Strategic Alliance. Projects accepted into the Strategic Alliance will be held 50/50 but funding of the initial acquisition and any preliminary work programs will be funded 40% by the introducing partner and 60% by the other party. The initial term of the Alliance Agreement is two years and may be extended for an additional two years. The Company and Cloudbreak agreed to accept the Klondike property as part of the Strategic Alliance and thus, Cloudbreak would reimburse the Company $94,044 as of September 30, 2021 (subsequently received). As of September 30, 2021, the Company has spent $49,263 on advancing this property, including the acquisition costs. f) Others – Stateline (Colorado) The Company acquired the Stateline property by staking a 100% interest in this property in Colorado. The Company and Cloudbreak agreed to accept the Stateline property as part of the Strategic Alliance and thus, Cloudbreak would reimburse the Company $21,849 as of September 30, 2021 (subsequently received). As of September 30, 2021, the Company has spent $17,866 on advancing this property, including the acquisition costs. g) Others – Sinbad (Colorado) The Company acquired the Sinbad property by staking a 100% interest in this property in Colorado. Even though the Sinbad property did not get accepted as part of the Strategic Alliance, Cloudbreak agreed to reimburse the Company $10,078 for the amounts spent on obtaining this property (subsequently received). During the year ended September 30, 2021, the Company dropped off Sinbad property and wrote off $8,469. h) Others – Ashby (Nevada) On August 2, 2017, the Company signed an exploration lease agreement to lease the Ashby gold property to Nevada Canyon Gold Corp. (“Nevada Canyon”). Under the terms of the agreement, Nevada Canyon made a US$1,000 payment on signing and an annual payment of US$2,000 and will grant a 2% Net Smelter Royalty (“NSR”) on future production from the Lazy 1-3 claims comprising the Ashby property. Nevada Canyon will also be responsible for all claim fees and certain reclamation work to be undertaken on the property. The initial term of the lease is 10 years and can be extended for an additional 20 years. During the year ended September 30, 2021, Nevada Canyon reimbursed the Company $3,196 which includes US$543 for the 2020 annual property claim fee and US$2,000 for the 2020 annual payment. i) Others – East Walker (Nevada) The East Walker property is located in Lyon County, west of Hawthorne. A 2% NSR is payable to a previous owner of the property from production from some claims on the property. As of September 30, 2021, the Company had spent $29,744 on advancing this property. Canada a) Haldane (Yukon) On March 2, 2018, the Haldane property was purchased from Equity Exploration Consultants Ltd. (“Equity”), and is located in Yukon Territory, Canada. Equity has a 2% NSR royalty on the Haldane property. The Company purchased the Haldane property from Equity for the following consideration: · · · · o o On April 12, 2018, the Company purchased the Nur, Clarkston and Fara claims which are contiguous to and grouped with the Haldane property from the estate of Yukon prospector John Peter Ross (the “Estate”) for the following consideration: · · · · · · o o As of September 30, 2021, the Company had spent $4,648,181 on advancing this property, including the acquisition costs. b) KRL (British Columbia) On September 1, 2018, the Company optioned the KRL property from prospector Bernie Kreft (“Kreft”), and is located in British Columbia’s prolific Golden Triangle, Canada. Kreft has a 1% NSR royalty on the KRL property. The Company optioned the KRL property from Kreft for the following consideration: · · · · · · · o o b) KRL (British Columbia) As of September 30, 2021, the Company had spent $330,269 on advancing this property, including the acquisition costs. c) Tim property (Yukon) On January 24, 2020, the Company entered into an option agreement with a wholly owned subsidiary of Coeur Mining Inc. (“Coeur”) to explore the Tim property in southern Yukon. Coeur can earn an initial 51% interest in the Tim property by (i) financing $3.55-million in exploration over five years and (ii) making scheduled cash payments totalling $275,000 over five years as follows. Date/Period Expenditures Option Payment On the Effective Date None $10,000 (received) On or before 1 st $50,000 $15,000 On or before 2 nd $500,000 $25,000 On or before 3 rd $500,000 $50,000 On or before 4 th $1,000,000 $75,000 On or before 5 th $1,500,000 $100,000 (*) Class 1 Notification Date is December 16, 2020. After earning an initial 51% interest in the property, to increase its interest to 80%, Coeur must finance a feasibility study and notify the Company of its intention to develop a commercial mine on the property on or before the eighth anniversary from the date of notification of the Class 1 exploration permit, as well as pay an additional $300,000 to the Company as follows: Date/Period Option Payment On or before 6 th $100,000 On or before 7 th $100,000 On or before 8 th $100,000 d) Others In 2010, the Company acquired the White River property through staking. The White River property is located in the Yukon, northwest of Whitehorse. On July 23, 2007, the Company purchased from Almaden certain properties in the Yukon and Almaden assigned the 2% NSR royalty on future production from these mineral claims to Almadex: · · As of September 30, 2021, the Company had spent $1,119,167 on advancing these properties. On June 10, 2008, the Company signed another agreement with Almaden to acquire a 100% interest in the Prospector Mountain gold-silver-copper property, located in central Yukon. Almaden assigned the 2% NSR over any minerals produced from the property to Almadex. Half of the NSR may be purchased by the Company at any time after the production commences for fair value as determined by an independent valuator. The Company will also issue to Almadex 50,000 fully paid common shares upon receipt of a positive bankable feasibility study for the property. During the year ended September 30, 2020, the Company dropped off Prospector Mountain property and wrote off $87,338. Peru On April 29, 2015, the Company acquired the Yanac property which is located in Chincha region of the Department of Ica, south-central Peru. Yanac On February 27, 2013, Cliffs Natural Resources Exploration Inc., a wholly owned subsidiary of Cliffs Natural Resources Inc. (“Cliffs”) and the Company’s wholly-owned subsidiary entered into a Limited Liability Company Membership Agreement (“agreement”) in respect of the Yanac property. In December 2015, Cliffs’ interest in Yanac was acquired by 50 King Capital Exploration Inc. (“50 King”), a private company, which took over all previous obligations of Cliffs. On July 6, 2016, 50 King terminated the agreement, retaining only a 0.5% net smelter royalty (“NSR”) on the Yanac property based on prior expenditures and transferred the ownership of the property back to the Company. As of September 30, 2021, the Company had spent $430,236 on advancing this property. Mexico The Company holds a 1% Net Smelter Royalty on certain Mexican properties which is capped at $1,000,000. |
5. DEPOSITS
5. DEPOSITS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
5. DEPOSITS | 5. DEPOSITS As of September 30, 2021, the Company has a US$10,000 ($12,741) performance bond with the State of Colorado Board of Land Commissioners for the Klondike property (September 30, 2020 - $Nil) and a $14,921 reclamation bond with the Ministry of Energy, Mines and Low Carbon Innovation for the KRL property (September 30, 2020 - $Nil). |
6. SHARE CAPITAL
6. SHARE CAPITAL | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
6. SHARE CAPITAL | 6. SHARE CAPITAL a) As at September 30, 2021, the authorized share capital is comprised of an unlimited number of common shares without par value and an unlimited number of preferred shares issuable in series. All issued shares are fully paid. b) During the year ended September 30, 2019, the Company: i) ii) iii) iv) v) During the year ended September 30, 2020, the Company: vi) vii) viii) ix) x) During the year ended September 30, 2021, the Company: xi) xii) xiii) xiv) xv) |
7. STOCK OPTIONS AND WARRANTS
7. STOCK OPTIONS AND WARRANTS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
7. STOCK OPTIONS AND WARRANTS | 7. STOCK OPTIONS AND WARRANTS a) The Company grants stock options to directors, officers, employees and consultants pursuant to the Company’s Stock Option Plan (the “Plan”). The number of options that may be issued pursuant to the Plan are limited to 10% of the Company’s issued and outstanding common shares and to other restrictions with respect to any single participant (not greater than 5% of the issued common shares) or any one consultant (not greater than 2% of the issued common shares). Options granted to consultants performing investor relations activities will contain vesting provisions such that vesting occurs over at least 12 months with no more than one quarter of the options vesting in any 3-month period. Vesting provisions may also be applied to other option grants, at the discretion of the directors. Options issued pursuant to the Plan will have an exercise price as determined by the directors, and permitted by the TSX-V, at the time of the grant. Options have a maximum expiry date of 5 years from the grant date. Stock option transactions and the number of stock options for the year ended September 30, 2021 are summarized as follows: Expiry date Exercise price September 30, 2020 Granted Exercised Expired / cancelled September 30, April 29, 2021 $0.25 100,000 - - (100,000) - September 30, 2021 $0.15 1,245,000 - - (1,245,000) - March 14, 2023 $0.10 840,000 - - - 840,000 July 30, 2024 $0.10 1,725,000 - - - 1,725,000 October 15, 2025 $0.14 - 2,005,000 - - 2,005,000 Options outstanding 3,910,000 2,005,000 - (1,345,000) 4,570,000 Options exercisable 3,910,000 (1,345,000) 4,570,000 Weighted average exercise price $0.12 $0.14 $Nil $0.16 $0.12 As at September 30, 2021, the weighted average contractual remaining life of options is 3.11 years (September 30, 2020 – 2.55 years; September 30, 2019 – 2.93 years). The weighted average fair value of stock options granted during the year ended September 30, 2021 was $0.10 (2020 - $Nil; 2019 - $0.08). Stock option transactions and the number of stock options for the year ended September 30, 2020 are summarized as follows: Expiry date Exercise price September 30, 2019 Granted Exercised Expired / cancelled September 30, April 29, 2020 $0.25 1,264,500 - - (1,264,500) - April 29, 2021 $0.25 100,000 - - - 100,000 September 30, 2021 $0.15 1,270,000 - - (25,000) 1,245,000 March 14, 2023 $0.10 850,000 - - (10,000) 840,000 July 30, 2024 $0.10 2,015,000 - (250,000) (40,000) 1,725,000 Options outstanding 5,499,500 - (250,000) (1,339,500) 3,910,000 Options exercisable 5,499,500 (250,000) (1,339,500) 3,910,000 Weighted average exercise price $0.15 $Nil $0.10 $0.24 $0.12 Stock option transactions and the number of stock options for the year ended September 30, 2019 are summarized as follows: Expiry date Exercise price September 30, 2018 Granted Exercised Expired / cancelled September 30, February 25, 2019 $0.25 22,500 - - (22,500) - April 29, 2020 $0.25 1,264,500 - - - 1,264,500 April 29, 2021 $0.25 100,000 - - - 100,000 September 30, 2021 $0.15 1,270,000 - - - 1,270,000 March 14, 2023 $0.10 850,000 - - - 850,000 July 30, 2024 $0.10 - 2,015,000 - - 2,015,000 Options outstanding 3,507,000 2,015,000 - (22,500) 5,499,500 Options exercisable 3,507,000 2,015,000 (22,500) 5,499,500 Weighted average exercise price $0.18 $0.10 $Nil $0.25 $0.15 The weighted average assumptions used to estimate the fair value of options for the years ended September 30, 2021, 2020 and 2019 were as follows: 2021 2020 2019 Risk-free interest rate 1.29% n/a 1.25% Expected life 5 years n/a 5 years Expected volatility 101.56% n/a 175.27% Expected dividend yield nil n/a nil b) The continuity of warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, December 24, 2020 $0.10 4,400,000 - (3,300,000) (1,100,000) - July 9, 2022 $0.10 12,600,000 - (1,250,000) - 11,350,000 February 23, 2023 $0.10 20,790,000 - (1,690,000) - 19,100,000 October 9, 2022 $0.20 - 3,835,186 - - 3,835,186 Outstanding 37,790,000 3,835,186 (6,240,000) (1,100,000) 34,285,186 Weighted average exercise price $0.10 $0.20 $0.10 $0.10 $0.11 As at September 30, 2021, the weighted average contractual remaining life of warrants is 1.15 years (September 30, 2020 – 1.94 years; September 30, 2019 – 1.44 years). The continuity of warrants for the year ended September 30, 2020 is as follows: Expiry date Exercise price September 30, 2019 Issued Exercised Expired September 30, March 6, 2020 $0.20 2,500,000 - - (2,500,000) - March 8, 2020 $0.15 7,221,875 - - (7,221,875) - April 7, 2020 $0.15 3,255,000 - - (3,255,000) - April 25, 2020 $0.15 5,000,000 - - (5,000,000) - August 16, 2020 $0.20 892,857 - - (892,857) - December 24, 2020 $0.10 5,000,000 - (600,000) - 4,400,000 July 9, 2022 $0.10 13,820,000 - (1,220,000) - 12,600,000 February 23, 2023 $0.10 - 22,000,000 (1,210,000) 20,790,000 Outstanding 37,689,732 22,000,000 (3,030,000) (18,869,732) 37,790,000 Weighted average exercise price $0.13 $0.10 $0.10 $0.16 $0.10 The continuity of warrants for the year ended September 30, 2019 is as follows: Expiry date Exercise price September 30, 2018 Issued Exercised Expired September 30, September 28, 2019 $0.20 1,200,000 - - (1,200,000) - March 6, 2020 $0.20 2,500,000 - - - 2,500,000 March 8, 2020 $0.15 7,221,875 - - - 7,221,875 April 7, 2020 $0.15 3,255,000 - - - 3,255,000 April 25, 2020 $0.15 5,000,000 - - - 5,000,000 August 16, 2020 $0.20 892,857 - - - 892,857 December 24, 2020 $0.10 - 5,000,000 - - 5,000,000 July 9, 2022 $0.10 - 13,820,000 - - 13,820,000 Outstanding 20,069,732 18,820,000 - (1,200,000) 37,689,732 Weighted average exercise price $0.16 $0.10 $Nil $0.20 $0.13 c) The continuity of finder’s warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, 2021 February 25, 2021 $0.05 806,100 - (56,100) (750,000) - October 9, 2022 $0.135 - 1,339,036 - - 1,339,036 June 14, 2023 $0.12 - 665,583 - - 665,583 Outstanding 806,100 2,004,619 (56,100) (750,000) 2,004,619 Weighted average exercise price $0.05 $0.13 $0.05 $0.15 $0.13 As at September 30, 2021, the weighted average contractual remaining life of finder’s warrants is 1.25 years (September 30, 2020 – 0.41 years; September 30, 2019 – 0.53 years). The continuity of finder’s warrants for the year ended September 30, 2020 is as follows: Expiry date Exercise price September 30, 2019 Issued Exercised Expired September 30, 2020 December 24, 2019 $0.05 887,250 - - (887,250) - April 25, 2020 $0.10 240,000 - - (240,000) - July 9, 2020 $0.05 1,007,125 - (1,007,125) - - August 16, 2020 $0.14 26,100 - - (26,100) - February 25, 2021 $0.05 - 1,002,000 (195,900) - 806,100 Outstanding 2,160,475 1,002,000 (1,203,025) (1,153,350) 806,100 Weighted average exercise price $0.06 $0.05 $0.05 $0.06 $0.05 The continuity of finder’s warrants for the year ended September 30, 2019 is as follows: Expiry date Exercise price September 30, 2018 Issued Exercised Expired September 30, 2019 December 24, 2019 $0.05 - 887,250 - 887,250 April 25, 2020 $0.10 240,000 - - - 240,000 August 16, 2020 $0.14 26,100 - - - 26,100 July 9, 2020 $0.05 - 1,007,125 - - 1,007,125 Outstanding 266,100 1,894,375 - - 2,160,475 Weighted average exercise price $0.10 $0.05 $Nil $Nil $0.06 The weighted average assumptions used to estimate the fair value of finder’s warrants for the years ended September 30, 2021, 2020 and 2019 were as follows: 2021 2020 2019 Risk-free interest rate 1.09% 1.58% 1.92% Expected life 2 years 1 year 1 year Expected volatility 120.96% 110.77% 95.54% Expected dividend yield nil nil nil |
8. RELATED PARTY TRANSACTIONS
8. RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
8. RELATED PARTY TRANSACTIONS | 8. RELATED PARTY TRANSACTIONS The aggregate value of transactions and outstanding balances relating to key management personnel and entities over which they have control or significant influence were as follows: For the year ended September 30, 2021 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 147,000 $ Nil $ Nil $ Nil $ 30,270 $ 192,270 Rob Duncan VP of Exploration $ 25,000 $ Nil $ Nil $ Nil $ 30,270 $ 175,895 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 30,270 $ 30,270 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 For the year ended September 30, 2020 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 147,000 $ Nil $ Nil $ Nil $ Nil $ 147,000 Rob Duncan, VP of Exploration $ 25,000 $ Nil $ Nil $ Nil $ Nil $ 25,000 For the year ended September 30, 2019 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 122,000 $ Nil $ Nil $ Nil $ 24,150 $ 146,150 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,125 $ 20,125 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 Mark T. Brown, Director $ Nil $ Nil $ Nil $ Nil $ 24,150 $ 24,150 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 Related party transactions and balances Years ended Balance due Services September 30, 2021 September 30, 2020 As at September 30, 2021 As at September 30, 2020 Amounts due to: Jason Weber Consulting fee and share-based payment $ 192,270 $ 147,000 $ Nil $ Nil Rob Duncan Consulting fee and Share-based payment $ 175,895 $ 25,000 $ Nil $ Nil Pacific Opportunity Capital Ltd. (a) Accounting, financing and shareholder communication services $ 187,245 $ 228,530 $ 217,337 $ 217,337 TOTAL: $ 555,410 $ 400,530 $ 271,337 $ 271,337 (a) |
9. SUPPLEMENTAL DISCLOSURE WITH
9. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
9. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS | 9. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS The significant non-cash investing and financing transactions during the year ended September 30, 2021 were as follows: · · · · · The significant non-cash investing and financing transactions during the year ended September 30, 2020 were as follows: · · · · · · · The significant non-cash investing and financing transactions during the year ended September 30, 2019 were as follows: · · · · |
10. SEGMENTED INFORMATION
10. SEGMENTED INFORMATION | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
10. SEGMENTED INFORMATION | 10. SEGMENTED INFORMATION The Company has one reportable operating segment, that being the acquisition and exploration of mineral properties. Geographical information is as follows: September 30, 2021 September 30, 2020 Non-current assets USA $ 1,203,216 $ 911,875 Peru 466,288 466,900 Canada 6,102,589 2,988,866 $ 7,772,093 $ 4,367,641 |
11. INCOME TAXES
11. INCOME TAXES | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
11. INCOME TAXES | 11. INCOME TAXES A reconciliation of income taxes at statutory rates with the reported taxes is as follows: 2021 2020 Loss before income taxes $ (939,124) $ (1,056,142) Expected income tax recovery $ (255,000) $ (287,000) Permanent differences (40,000) (5,000) Share issue costs (40,000) (21,000) Change in unrecognized deductible temporary differences 335,000 313,000 Total deferred income tax (recovery) expense $ - $ - The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: 2021 Expiry Date Range 2020 Expiry Date Range Temporary Differences $ $ Exploration and evaluation assets (6,000) No expiry date 2,132,000 No expiry date Property and equipment 14,000 No expiry date 16,000 No expiry date Share issue costs 416,000 2022 to 2025 216,000 2021 to 2024 Allowable capital losses 3,762,000 No expiry date 3,762,000 No expiry date Non-capital losses available for future periods 18,401,000 2026 to 2041 17,205,000 2026 to 2040 Expenditures related to the use of flow-through share proceeds are included in exploration costs but are not available as a tax deduction to the Company as the tax benefits of these expenditures are renounced to the investors. At September 30, 2021, the Company has an obligation for future flow-through expenditures of $396,594(2020: $Nil). Tax attributes are subject to review, and potential adjustment, by tax authorities. |
12. FINANCIAL INSTRUMENTS
12. FINANCIAL INSTRUMENTS | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
12. FINANCIAL INSTRUMENTS | 12. FINANCIAL INSTRUMENTS The Company’s financial instruments are exposed to certain financial risks, including currency risk, credit risk, liquidity risk, market risk and commodity price risk. (a) The Company’s property interests in Peru and USA make it subject to foreign currency fluctuations and inflationary pressures which may adversely affect the Company’s financial position, results of operations and cash flows. The Company is affected by changes in exchange rates between the Canadian Dollar and foreign functional currencies. The Company does not invest in foreign currency contracts to mitigate the risks. The (b) Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company’s credit risk is primarily attributable to the liquidity of its cash. The Company limits exposure to credit risk by maintaining its cash with a large Canadian financial institution. (c) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company ensures there is sufficient capital in order to meet short-term business requirements, after taking into account cash flows from operations and the Company’s holdings of cash. The Company does not have sufficient cash to settle its current liabilities, and further funding will be required to meet the Company’s short-term and long-term operating needs. The Company manages liquidity risk through the management of its capital structure. Accounts payable and accrued liabilities are due within the current operating period. (d) Market risk Market risks to which the Company is exposed include unfavorable movements in commodity prices, interest rates, and foreign exchange rates. As at September 30, 2021, the Company has no producing assets and holds the majority of its cash in secure, Canadian dollar-denominated deposits. Consequently, its exposure to these risks has been significantly reduced, but as the Company redeploys its cash, exposure to these risks may increase. The objective of the Company is to mitigate exposure to these risks while maximizing returns. The Company may from time-to-time own available-for-sale marketable securities, in the mineral resource sector. Changes in the future pricing and demand of commodities can have a material impact on the market value of the investments. The nature of such investments is normally dependent on the invested company being able to raise additional capital to further develop and to determine the commercial viability of its resource properties. Management mitigates the risk of loss resulting from this concentration by monitoring the trading value of the investments on a regular basis. i) As at September 30, 2021, the Company’s exposure to movements in interest rates was limited to potential decreases in interest income from changes to the variable portion of interest rates for its cash. Market interest rates in Canada are at historically low levels, so management does not consider the risk of interest rate declines to be significant, but should such risks increase, the Company may mitigate future exposure by entering into fixed-rate deposits. A 1% change in the interest rate, with other variables unchanged, would not significantly affect the Company. ii) The Company is exposed to the financial risk related to the fluctuation of foreign exchange rates. The Company may maintain cash and other financial instruments, or may incur revenues and expenditures in currencies other than the Canadian dollar. Significant changes in the currency exchange rates between the Canadian dollar relative to these foreign currencies, which may include but are not limited to US dollars and Peruvian nuevo sol, could have an effect on the Company’s results of operations, financial position or cash flows. The Company has not hedged its exposure to currency fluctuations. (e) The ability of the Company to develop its mineral properties and the future profitability of the Company are directly related to the market price of minerals such as gold, zinc, lead and copper. The Company’s input costs are also affected by the price of fuel. The Company closely monitors mineral and fuel prices to determine the appropriate course of action to be taken by the Company. IFRS 7 establishes a fair value hierarchy that prioritizes the input to valuation techniques used to measure fair value as follows: Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs). The following table sets forth the Company’s financial assets measured at amortized cost by level within the fair value hierarchy. As at September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Cash $ 412,676 $ - $ - $ 412,676 As at September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash $ 278,993 $ - $ - $ 278,993 Restricted Cash 83,070 - - 83,070 |
13. MANAGEMENT OF CAPITAL RISK
13. MANAGEMENT OF CAPITAL RISK | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
13. MANAGEMENT OF CAPITAL RISK | 13. MANAGEMENT OF CAPITAL RISK The Company considers items included in shareholders’ equity as capital. The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue the development of its mineral properties and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares, issue new debt, acquire or dispose of assets or adjust the amount of cash and cash equivalents. In order to facilitate the management of its capital requirements, the Company prepares expenditure budgets that are updated as necessary depending on various factors, including successful capital deployment and general industry conditions. In order to maximize ongoing development efforts, the Company does not pay out dividends. The Company’s approach to managing capital remains unchanged from the year ended September 30, 2020. |
14. CONTINGENT LIABILITIES
14. CONTINGENT LIABILITIES | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
14. CONTINGENT LIABILITIES | 14. CONTINGENT LIABILITIES As a result of the administrative practices with respect to mining taxation in Mexico, there can be significant uncertainty, in regards to when, or if, taxes are payable and the amount that may ultimately be payable. As at September 30, 2015, Mexican claim taxes totalling approximately $766,000 had been levied. Of this amount, $563,000 ($193,000 for 2014 and $370,000 for 2015) related to properties that were held by Minera Tarsis, S.A. de C.V., which the Company had applied to wind up, and $203,000 ($63,000 for 2014 and $140,000 for 2015) related to properties being acquired. On February 16, 2016, the Company sold all its Mexican properties, Yago, Mezquites and San Pedro, to Almadex, and reduced the claim taxes to $173,783. These taxes will never be paid in full and any amount that will, or might, be payable cannot realistically be determined at this time. Accordingly, these taxes have been disclosed as a contingent liability, and not recognized as a liability or provision. |
15. EVENTS AFTER THE REPORTING
15. EVENTS AFTER THE REPORTING PERIOD | 12 Months Ended |
Sep. 30, 2021 | |
Notes | |
15. EVENTS AFTER THE REPORTING PERIOD | 15. EVENTS AFTER THE REPORTING PERIOD (a) · · · · If Allied files on SEDAR an NI 43-101 technical report establishing the existence of a resource on any portion of the Klondike Property of at least 50,000,000 tonnes of either copper or copper equivalent at a minimum cut-off grade of 0.50% copper or copper equivalent and categorized as a combination of inferred resources, indicated resources and measured resources, then Allied will also issue a further 3,000,000 warrants exercisable for a three year term at a price equal to the greater of (i) $0.23 and (ii) the 10-day VWAP of Allied’s common shares at the time of the issuance. (b) |
2. BASIS OF PREPARATION_ Statem
2. BASIS OF PREPARATION: Statement of Compliance (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Statement of Compliance | Statement of Compliance These consolidated financial statements have been prepared in accordance and compliance with IFRS as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). |
2. BASIS OF PREPARATION_ Basis
2. BASIS OF PREPARATION: Basis of preparation (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Basis of preparation | Basis of preparation These consolidated financial statements have been prepared on a historical cost basis. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information. These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are published at the time of preparation. |
2. BASIS OF PREPARATION_ New ac
2. BASIS OF PREPARATION: New accounting standards and interpretations (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
New accounting standards and interpretations | New accounting standards and interpretations Certain new accounting standards and interpretations have been published that are not mandatory for the September 30, 2021 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective: · An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period. The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position. |
3. SIGNIFICANT ACCOUNTING POL_2
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Basis of Presentation | Basis of Presentation The consolidated financial statements of the Company include the accounts of Alianza Minerals Ltd. and the following entities: Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Peru Exploration LLC 100% Delaware, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company (1) All subsidiaries are entities that we control, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss. Certain of our business activities are conducted through associates (see below). |
3. SIGNIFICANT ACCOUNTING POL_3
3. SIGNIFICANT ACCOUNTING POLICIES: Interests in Joint Arrangements (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Interests in Joint Arrangements | Interests in Joint Arrangements A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement. Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements. |
3. SIGNIFICANT ACCOUNTING POL_4
3. SIGNIFICANT ACCOUNTING POLICIES: Investments in Associates and Joint Ventures (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Investments in Associates and Joint Ventures | Investments in Associates and Joint Ventures Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method. The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets such as dividends. The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture. If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized. At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture. |
3. SIGNIFICANT ACCOUNTING POL_5
3. SIGNIFICANT ACCOUNTING POLICIES: Foreign currencies (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Foreign currencies | Foreign currencies The functional and presentation currency of the Company is the Canadian dollar. Transactions in currencies other than the functional currency are recorded at the rate of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. The Company has determined that the functional currency of its subsidiaries in Peru is the Peruvian nuevo sole and the functional currency of its subsidiaries in USA is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the foreign exchange reserve. |
3. SIGNIFICANT ACCOUNTING POL_6
3. SIGNIFICANT ACCOUNTING POLICIES: Exploration and evaluation (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Exploration and evaluation | Exploration and evaluation The Company is in the exploration stage with respect to its investment in exploration and evaluation assets and accordingly follows the practice of capitalizing all costs relating to the acquisition of, exploration for and development of its mineral claims and crediting all proceeds received against the cost of related claims. Such costs include, but are not exclusive to, geological, geophysical studies, exploratory drilling and sampling. At such time as commercial production commences, these costs will be charged to operations on a unit-of-production method based on proven and probable reserves. The aggregate costs related to abandoned mineral claims are charged to operations at the time of any abandonment or when it has been determined that there is evidence of a permanent impairment. An impairment charge relating to a mineral property is subsequently reversed when new exploration results or actual or potential proceeds on sale result in a revised estimate of the recoverable amount but only to the extent that this does not exceed the original carrying value of the property that would have resulted if no impairment had been recognized. The recoverability of amounts shown for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain financing to complete development of the properties, and on future production or proceeds of disposition. The Company recognizes in income costs recovered on exploration and evaluation assets when amounts received or receivable are in excess of the carrying amount. Upon transfer of “Exploration and evaluation costs” into “Mine development”, all subsequent expenditure on the construction, installation or completion of infrastructure facilities is capitalized within “Mine development”. After production starts, all assets included in “Mine development” are transferred to “Producing mines”. All capitalized exploration and evaluation expenditures are monitored for indications of impairment. Where a potential impairment is indicated, assessments are performed for each area of interest. To the extent that exploration expenditures are not expected to be recovered, they are charged to operations. Exploration areas where reserves have been discovered, but require major capital expenditure before production can begin, are continually evaluated to ensure that commercial quantities of reserves exist or to ensure that additional exploration work is underway as planned. |
3. SIGNIFICANT ACCOUNTING POL_7
3. SIGNIFICANT ACCOUNTING POLICIES: Decommissioning, restoration, and similar obligations (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Decommissioning, restoration, and similar obligations | Decommissioning, restoration, and similar obligations An obligation to incur restoration, rehabilitation and environmental costs arises when an environmental disturbance is caused by the exploration, development or ongoing production of a mineral property interest. Such costs arising for the decommissioning of plant and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying value of the asset, as soon as the obligation to incur such costs arises. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. These costs are charged against profit or loss over the economic life of the related asset, through amortization using either the unit-of-production or the straight-line method. The related liability is adjusted each period for the unwinding of the discount rate and for changes to the current market-based discount rate, amount or timing of the underlying cash flows needed to settle the obligation. Costs for restoration of subsequent site damage which is created on an ongoing basis during production are provided for at their net present values and charged against profits as extraction progresses. As at September 30, 2021, the Company has no material restoration, rehabilitation and environmental costs as the disturbance to date is minimal. |
3. SIGNIFICANT ACCOUNTING POL_8
3. SIGNIFICANT ACCOUNTING POLICIES: Financial instruments (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Financial instruments | Financial instruments The Company recognizes an allowance using the Expected Credit Loss (“ECL”) model on financial assets classified as amortized cost. The Company has elected to use the simplified approach for measuring ECL by using a lifetime expected loss allowance for all amounts recoverable. Under this model, impairment provisions are based on credit risk characteristics and days past due. When there is no reasonable expectation of collection, financial assets classified as amortized cost are written off. Indications of credit risk arise based on failure to pay and other factors. Should objective events occur after an impairment loss is recognized, a reversal of impairment is recognized in the statement of loss and comprehensive loss. We have assessed the classification and measurement of our financial assets and financial liabilities under IFRS 9 as follows: IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Due from alliance partner Amortized cost Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized in the consolidated statements of comprehensive income or loss. |
3. SIGNIFICANT ACCOUNTING POL_9
3. SIGNIFICANT ACCOUNTING POLICIES: Significant accounting judgments and estimates (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Significant accounting judgments and estimates | Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. The consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and the revision affects both current and future periods. Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made, relate to, but are not limited to, the following: Critical judgments The following are critical judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the consolidated financial statements: · · · · |
3. SIGNIFICANT ACCOUNTING PO_10
3. SIGNIFICANT ACCOUNTING POLICIES: Impairment (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Impairment | Impairment At each financial position reporting date, the carrying amounts of the Company’s non-financial assets are reviewed to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the statement of comprehensive loss for the period. For the purpose of impairment testing, exploration and evaluation assets are allocated to cash-generating units to which the exploration activity relates. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash generating unit to which the asset belongs. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in the statement of comprehensive loss. |
3. SIGNIFICANT ACCOUNTING PO_11
3. SIGNIFICANT ACCOUNTING POLICIES: Share-based payment transactions (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Share-based payment transactions | Share-based payment transactions The Company’s stock option plan allows the Company’s employees and consultants to acquire shares of the Company through the exercise of granted stock options. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in shareholders’ equity. An individual is classified as an employee when such individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee. The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Warrants with the right to acquire common shares in the Company are typically issued through the Company’s equity financing activities. Where finders’ warrants are issued on a stand-alone basis, their fair values are measured on their issuance date using the Black-Scholes option pricing model and are recorded as both an increase to reserves and as a share issue cost. When warrants are exercised, the cash proceeds along with the amount previously recorded in equity reserves are recorded as share capital. |
3. SIGNIFICANT ACCOUNTING PO_12
3. SIGNIFICANT ACCOUNTING POLICIES: Share capital (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Share capital | Share capital Common shares are classified as equity. Transaction costs directly attributable to the issue of common shares and share options are recognized as a deduction from equity. Common shares issued for consideration other than cash, are valued based on their market value at the date the shares are issued. The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The Company considers the fair value of common shares issued in a private placement to be the more easily measurable component and the common shares are valued at their fair value, as determined by the closing quoted bid price on the announcement date. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded as reserves. |
3. SIGNIFICANT ACCOUNTING PO_13
3. SIGNIFICANT ACCOUNTING POLICIES: Flow-through Shares (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Flow-through Shares | Flow-through Shares The resource expenditure deductions for income tax purposes related to exploration and development activities funded by flow-through share arrangements are renounced to investors in accordance with Canadian tax legislation. On issuance, the premium recorded on the flow-through share, being the difference in price over a common share with no tax attributes, is recognized as a liability. As expenditures are incurred, the liability associated with the renounced tax deductions is recognized through profit or loss with a pro-rata portion of the deferred premium. |
3. SIGNIFICANT ACCOUNTING PO_14
3. SIGNIFICANT ACCOUNTING POLICIES: Loss per common share (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Loss per common share | Loss per common share The Company presents basic and diluted loss per share (“EPS”) data for its common shares. Basic EPS is calculated by dividing the loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period, adjusted for own shares held. Diluted EPS is determined by dividing the loss attributable to common shareholders by the weighted average number of common shares outstanding, adjusted for own shares held and for the effects of all potential dilutive common shares related to outstanding stock options and warrants issued by the Company. |
3. SIGNIFICANT ACCOUNTING PO_15
3. SIGNIFICANT ACCOUNTING POLICIES: Income taxes (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Income taxes | Income taxes Income tax on the loss for the periods presented comprises current and deferred tax. Income tax is recognized in the loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Income tax provisions are recognized when it is considered probable that there will be a future outflow of funds to a taxing authority. In such cases, a provision is made for the amount that is expected to be settled, where this can be reasonably estimated. This requires the application of judgment as to the ultimate outcome, which can change over time depending on facts and circumstances. A change in estimate of the likelihood of a future outflow and/or in the expected amount to be settled would be recognized in income in the period in which the change occurs. Deferred tax assets or liabilities arising from temporary differences between the tax and accounting values of assets and liabilities, are recorded based on tax rates expected to be enacted when these differences are reversed. Deferred tax assets are recognized only to the extent it is considered probable that those assets will be recovered. This involves an assessment of when those deferred tax assets are likely to be realized, and a judgment as to whether or not there will be sufficient taxable profits available to offset the tax assets when they do reverse. This requires assumptions regarding future profitability and is therefore inherently uncertain. To the extent assumptions regarding future profitability change, there can be an increase or decrease in the amounts recognized in respect of deferred tax assets as well as in the amounts recognized in income in the period in which the change occurs. Tax provisions are based on enacted or substantively enacted laws. Changes in those laws could affect amounts recognized in income both in the period of change, which would include any impact on cumulative provisions, and in future periods. |
3. SIGNIFICANT ACCOUNTING PO_16
3. SIGNIFICANT ACCOUNTING POLICIES: Comparative figures (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Policies | |
Comparative figures | Comparative figures Certain comparative figures have been reclassified to conform to the current year's presentation. |
3. SIGNIFICANT ACCOUNTING PO_17
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation: Schedule of subsidiary entities (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of subsidiary entities | Name of Subsidiaries % of ownership Jurisdiction Principal Activity Alianza Holdings Ltd. 100% Canada Holding Company Canadian Shield Explorations (Int’l) Ltd. 100% Canada Holding Company Estrella Gold Peru S.A.C. 100% Peru Exploration Company Estrella Gold DR, S.R.L. (1) 100% Dominican Republic Holding Company Tarsis Resources US Inc. 100% Nevada, USA Holding Company Yanac Peru Exploration LLC 100% Delaware, USA Holding Company Yanac Minera Peru S.A.C. 100% Peru Exploration Company |
3. SIGNIFICANT ACCOUNTING PO_18
3. SIGNIFICANT ACCOUNTING POLICIES: Financial instruments: Schedule of classification and measurement of financial assets and liabilities under IFRS-9 (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of classification and measurement of financial assets and liabilities under IFRS-9 | IFRS 9 Financial Assets Cash and restricted cash Amortized cost Receivables Amortized cost Due from alliance partner Amortized cost Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Funds held for optionee Amortized cost |
7. STOCK OPTIONS AND WARRANTS_
7. STOCK OPTIONS AND WARRANTS: Share-Based Payment Arrangement, Option, Activity (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Share-Based Payment Arrangement, Option, Activity | Expiry date Exercise price September 30, 2020 Granted Exercised Expired / cancelled September 30, April 29, 2021 $0.25 100,000 - - (100,000) - September 30, 2021 $0.15 1,245,000 - - (1,245,000) - March 14, 2023 $0.10 840,000 - - - 840,000 July 30, 2024 $0.10 1,725,000 - - - 1,725,000 October 15, 2025 $0.14 - 2,005,000 - - 2,005,000 Options outstanding 3,910,000 2,005,000 - (1,345,000) 4,570,000 Options exercisable 3,910,000 (1,345,000) 4,570,000 Weighted average exercise price $0.12 $0.14 $Nil $0.16 $0.12 As at September 30, 2021, the weighted average contractual remaining life of options is 3.11 years (September 30, 2020 – 2.55 years; September 30, 2019 – 2.93 years). The weighted average fair value of stock options granted during the year ended September 30, 2021 was $0.10 (2020 - $Nil; 2019 - $0.08). Stock option transactions and the number of stock options for the year ended September 30, 2020 are summarized as follows: Expiry date Exercise price September 30, 2019 Granted Exercised Expired / cancelled September 30, April 29, 2020 $0.25 1,264,500 - - (1,264,500) - April 29, 2021 $0.25 100,000 - - - 100,000 September 30, 2021 $0.15 1,270,000 - - (25,000) 1,245,000 March 14, 2023 $0.10 850,000 - - (10,000) 840,000 July 30, 2024 $0.10 2,015,000 - (250,000) (40,000) 1,725,000 Options outstanding 5,499,500 - (250,000) (1,339,500) 3,910,000 Options exercisable 5,499,500 (250,000) (1,339,500) 3,910,000 Weighted average exercise price $0.15 $Nil $0.10 $0.24 $0.12 Stock option transactions and the number of stock options for the year ended September 30, 2019 are summarized as follows: Expiry date Exercise price September 30, 2018 Granted Exercised Expired / cancelled September 30, February 25, 2019 $0.25 22,500 - - (22,500) - April 29, 2020 $0.25 1,264,500 - - - 1,264,500 April 29, 2021 $0.25 100,000 - - - 100,000 September 30, 2021 $0.15 1,270,000 - - - 1,270,000 March 14, 2023 $0.10 850,000 - - - 850,000 July 30, 2024 $0.10 - 2,015,000 - - 2,015,000 Options outstanding 3,507,000 2,015,000 - (22,500) 5,499,500 Options exercisable 3,507,000 2,015,000 (22,500) 5,499,500 Weighted average exercise price $0.18 $0.10 $Nil $0.25 $0.15 |
7. STOCK OPTIONS AND WARRANTS_2
7. STOCK OPTIONS AND WARRANTS: Defined Benefit Plan, Assumptions (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Defined Benefit Plan, Assumptions | The weighted average assumptions used to estimate the fair value of options for the years ended September 30, 2021, 2020 and 2019 were as follows: 2021 2020 2019 Risk-free interest rate 1.29% n/a 1.25% Expected life 5 years n/a 5 years Expected volatility 101.56% n/a 175.27% Expected dividend yield nil n/a nil |
7. STOCK OPTIONS AND WARRANTS_3
7. STOCK OPTIONS AND WARRANTS: Schedule of Warrants Activity (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Warrants Activity | The continuity of warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, December 24, 2020 $0.10 4,400,000 - (3,300,000) (1,100,000) - July 9, 2022 $0.10 12,600,000 - (1,250,000) - 11,350,000 February 23, 2023 $0.10 20,790,000 - (1,690,000) - 19,100,000 October 9, 2022 $0.20 - 3,835,186 - - 3,835,186 Outstanding 37,790,000 3,835,186 (6,240,000) (1,100,000) 34,285,186 Weighted average exercise price $0.10 $0.20 $0.10 $0.10 $0.11 As at September 30, 2021, the weighted average contractual remaining life of warrants is 1.15 years (September 30, 2020 – 1.94 years; September 30, 2019 – 1.44 years). The continuity of warrants for the year ended September 30, 2020 is as follows: Expiry date Exercise price September 30, 2019 Issued Exercised Expired September 30, March 6, 2020 $0.20 2,500,000 - - (2,500,000) - March 8, 2020 $0.15 7,221,875 - - (7,221,875) - April 7, 2020 $0.15 3,255,000 - - (3,255,000) - April 25, 2020 $0.15 5,000,000 - - (5,000,000) - August 16, 2020 $0.20 892,857 - - (892,857) - December 24, 2020 $0.10 5,000,000 - (600,000) - 4,400,000 July 9, 2022 $0.10 13,820,000 - (1,220,000) - 12,600,000 February 23, 2023 $0.10 - 22,000,000 (1,210,000) 20,790,000 Outstanding 37,689,732 22,000,000 (3,030,000) (18,869,732) 37,790,000 Weighted average exercise price $0.13 $0.10 $0.10 $0.16 $0.10 The continuity of warrants for the year ended September 30, 2019 is as follows: Expiry date Exercise price September 30, 2018 Issued Exercised Expired September 30, September 28, 2019 $0.20 1,200,000 - - (1,200,000) - March 6, 2020 $0.20 2,500,000 - - - 2,500,000 March 8, 2020 $0.15 7,221,875 - - - 7,221,875 April 7, 2020 $0.15 3,255,000 - - - 3,255,000 April 25, 2020 $0.15 5,000,000 - - - 5,000,000 August 16, 2020 $0.20 892,857 - - - 892,857 December 24, 2020 $0.10 - 5,000,000 - - 5,000,000 July 9, 2022 $0.10 - 13,820,000 - - 13,820,000 Outstanding 20,069,732 18,820,000 - (1,200,000) 37,689,732 Weighted average exercise price $0.16 $0.10 $Nil $0.20 $0.13 |
7. STOCK OPTIONS AND WARRANTS_4
7. STOCK OPTIONS AND WARRANTS: Schedule of Finder's Warrants Activity (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Finder's Warrants Activity | The continuity of finder’s warrants for the year ended September 30, 2021 is as follows: Expiry date Exercise price September 30, 2020 Issued Exercised Expired September 30, 2021 February 25, 2021 $0.05 806,100 - (56,100) (750,000) - October 9, 2022 $0.135 - 1,339,036 - - 1,339,036 June 14, 2023 $0.12 - 665,583 - - 665,583 Outstanding 806,100 2,004,619 (56,100) (750,000) 2,004,619 Weighted average exercise price $0.05 $0.13 $0.05 $0.15 $0.13 As at September 30, 2021, the weighted average contractual remaining life of finder’s warrants is 1.25 years (September 30, 2020 – 0.41 years; September 30, 2019 – 0.53 years). The continuity of finder’s warrants for the year ended September 30, 2020 is as follows: Expiry date Exercise price September 30, 2019 Issued Exercised Expired September 30, 2020 December 24, 2019 $0.05 887,250 - - (887,250) - April 25, 2020 $0.10 240,000 - - (240,000) - July 9, 2020 $0.05 1,007,125 - (1,007,125) - - August 16, 2020 $0.14 26,100 - - (26,100) - February 25, 2021 $0.05 - 1,002,000 (195,900) - 806,100 Outstanding 2,160,475 1,002,000 (1,203,025) (1,153,350) 806,100 Weighted average exercise price $0.06 $0.05 $0.05 $0.06 $0.05 The continuity of finder’s warrants for the year ended September 30, 2019 is as follows: Expiry date Exercise price September 30, 2018 Issued Exercised Expired September 30, 2019 December 24, 2019 $0.05 - 887,250 - 887,250 April 25, 2020 $0.10 240,000 - - - 240,000 August 16, 2020 $0.14 26,100 - - - 26,100 July 9, 2020 $0.05 - 1,007,125 - - 1,007,125 Outstanding 266,100 1,894,375 - - 2,160,475 Weighted average exercise price $0.10 $0.05 $Nil $Nil $0.06 |
7. STOCK OPTIONS AND WARRANTS_5
7. STOCK OPTIONS AND WARRANTS: Schedule of weighted average assumptions used to estimate the fair value of finder's warrants (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of weighted average assumptions used to estimate the fair value of finder's warrants | The weighted average assumptions used to estimate the fair value of finder’s warrants for the years ended September 30, 2021, 2020 and 2019 were as follows: 2021 2020 2019 Risk-free interest rate 1.09% 1.58% 1.92% Expected life 2 years 1 year 1 year Expected volatility 120.96% 110.77% 95.54% Expected dividend yield nil nil nil |
8. RELATED PARTY TRANSACTIONS_
8. RELATED PARTY TRANSACTIONS: Schedule of Related Party Transactions (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Related Party Transactions | For the year ended September 30, 2021 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 147,000 $ Nil $ Nil $ Nil $ 30,270 $ 192,270 Rob Duncan VP of Exploration $ 25,000 $ Nil $ Nil $ Nil $ 30,270 $ 175,895 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 Mark T. Brown Director $ Nil $ Nil $ Nil $ Nil $ 30,270 $ 30,270 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 20,180 $ 20,180 For the year ended September 30, 2020 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 147,000 $ Nil $ Nil $ Nil $ Nil $ 147,000 Rob Duncan, VP of Exploration $ 25,000 $ Nil $ Nil $ Nil $ Nil $ 25,000 For the year ended September 30, 2019 Short-term employee benefits Post- employment benefits Other long- term benefits Termination benefits Share-based payments Total Jason Weber Chief Executive Officer, Director $ 122,000 $ Nil $ Nil $ Nil $ 24,150 $ 146,150 Winnie Wong Chief Financial Officer $ Nil $ Nil $ Nil $ Nil $ 20,125 $ 20,125 Marc G. Blythe Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 Mark T. Brown, Director $ Nil $ Nil $ Nil $ Nil $ 24,150 $ 24,150 Craig Lindsay Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 John Wilson Director $ Nil $ Nil $ Nil $ Nil $ 12,075 $ 12,075 |
8. RELATED PARTY TRANSACTIONS_2
8. RELATED PARTY TRANSACTIONS: Schedule of Related party transactions and balances (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Related party transactions and balances | Years ended Balance due Services September 30, 2021 September 30, 2020 As at September 30, 2021 As at September 30, 2020 Amounts due to: Jason Weber Consulting fee and share-based payment $ 192,270 $ 147,000 $ Nil $ Nil Rob Duncan Consulting fee and Share-based payment $ 175,895 $ 25,000 $ Nil $ Nil Pacific Opportunity Capital Ltd. (a) Accounting, financing and shareholder communication services $ 187,245 $ 228,530 $ 217,337 $ 217,337 TOTAL: $ 555,410 $ 400,530 $ 271,337 $ 271,337 |
10. SEGMENTED INFORMATION_ Sche
10. SEGMENTED INFORMATION: Schedule of Geographical Segment Reporting Information (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Geographical Segment Reporting Information | September 30, 2021 September 30, 2020 Non-current assets USA $ 1,203,216 $ 911,875 Peru 466,288 466,900 Canada 6,102,589 2,988,866 $ 7,772,093 $ 4,367,641 |
11. INCOME TAXES_ Schedule of E
11. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | 2021 2020 Loss before income taxes $ (939,124) $ (1,056,142) Expected income tax recovery $ (255,000) $ (287,000) Permanent differences (40,000) (5,000) Share issue costs (40,000) (21,000) Change in unrecognized deductible temporary differences 335,000 313,000 Total deferred income tax (recovery) expense $ - $ - |
11. INCOME TAXES_ Schedule of t
11. INCOME TAXES: Schedule of tax credits and unused tax losses (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of tax credits and unused tax losses | The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: 2021 Expiry Date Range 2020 Expiry Date Range Temporary Differences $ $ Exploration and evaluation assets (6,000) No expiry date 2,132,000 No expiry date Property and equipment 14,000 No expiry date 16,000 No expiry date Share issue costs 416,000 2022 to 2025 216,000 2021 to 2024 Allowable capital losses 3,762,000 No expiry date 3,762,000 No expiry date Non-capital losses available for future periods 18,401,000 2026 to 2041 17,205,000 2026 to 2040 |
12. FINANCIAL INSTRUMENTS_ Sche
12. FINANCIAL INSTRUMENTS: Schedule of Financial Assets measured at fair value (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of Financial Assets measured at fair value | As at September 30, 2021 Level 1 Level 2 Level 3 Total Assets: Cash $ 412,676 $ - $ - $ 412,676 As at September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash $ 278,993 $ - $ - $ 278,993 Restricted Cash 83,070 - - 83,070 |
1. NATURE OF OPERATIONS AND G_2
1. NATURE OF OPERATIONS AND GOING CONCERN (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||
Entity Incorporation, Date of Incorporation | Oct. 21, 2005 | |
Entity Address, Address Line One | Suite 410 | |
Entity Address, Address Line Two | 325 Howe Street | |
Entity Address, City or Town | Vancouver | |
Entity Address, State or Province | BC | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | V6C 1Z7 | |
Working capital deficiency | $ 145,516 | $ 66,197 |
Stockholders' Equity Attributable to Parent | $ 7,917,609 | $ 4,301,444 |
3. SIGNIFICANT ACCOUNTING PO_19
3. SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation: Schedule of subsidiary entities (Details) | 12 Months Ended |
Sep. 30, 2021 | |
Alianza Holdings Ltd | |
Name of Subsidiaries | Alianza Holdings Ltd. |
% of ownership | 100% |
Jurisdiction | Canada |
Principal Activity | Holding Company |
Canadian Shield Explorations (Int'l) Ltd | |
Name of Subsidiaries | Canadian Shield Explorations (Int’l) Ltd. |
% of ownership | 100% |
Jurisdiction | Canada |
Principal Activity | Holding Company |
Estrella Gold Peru S.A.C | |
Name of Subsidiaries | Estrella Gold Peru S.A.C. |
% of ownership | 100% |
Jurisdiction | Peru |
Principal Activity | Exploration Company |
Estrella Gold DR, S.R.L | |
Name of Subsidiaries | Estrella Gold DR, S.R.L. (1) |
% of ownership | 100% |
Jurisdiction | Dominican Republic |
Principal Activity | Holding Company |
Tarsis Resources US Inc | |
Name of Subsidiaries | Tarsis Resources US Inc. |
% of ownership | 100% |
Jurisdiction | Nevada, USA |
Principal Activity | Holding Company |
Yanac Peru Exploration LLC | |
Name of Subsidiaries | Yanac Peru Exploration LLC |
% of ownership | 100% |
Jurisdiction | Delaware, USA |
Principal Activity | Holding Company |
Yanac Minera Peru S.A.C | |
Name of Subsidiaries | Yanac Minera Peru S.A.C. |
% of ownership | 100% |
Jurisdiction | Peru |
Principal Activity | Exploration Company |
4. EXPLORATION AND EVALUATION_2
4. EXPLORATION AND EVALUATION ASSETS (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Exploration and Evaluation Assets, Starting Balance | $ 4,325,562 | $ 3,728,231 |
Exploration and Evaluation Assets, Claim staking | 33,430 | |
Exploration and Evaluation Assets, Property acquisition | 143,653 | 317,262 |
Exploration and Evaluation Assets, Total | 177,083 | 317,262 |
Exploration and Evaluation Assets, Aircraft charter | 33,058 | 30,366 |
Exploration and Evaluation Assets, Camp, travel and meals | 510,668 | 74,246 |
Exploration and Evaluation Assets, Drilling | 1,547,793 | 547,112 |
Exploration and Evaluation Assets, Field equipment rental | 100,791 | 19,886 |
Exploration and Evaluation Assets, Field supplies and maps | 33,534 | 21,424 |
Exploration and Evaluation Assets, Geochemical | 70,287 | 131,147 |
Exploration and Evaluation Assets, Geological consulting | 975,980 | 449,984 |
Exploration and Evalutation Assets - Geophysics | 3,447 | 45,753 |
Exploration and Evaluation Assets, Legal and accounting | 65 | 3,873 |
Exploration and Evaluation Assets, Licence and permits | 108,569 | 131,229 |
Exploration and Evaluation Assets, Permitting | 26,642 | |
Exploration and Evaluation Assets, Reclamation | 23,393 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 29,969 | 13,881 |
Exploration and Evalutation Assets - Trenching | 2,421 | 31,267 |
Exploration and Evaluation Assets, Total expenses | 3,466,617 | 1,622,757 |
Exploration and Evaluation Assets, Recovered exploration expenditures | (221,254) | (1,248,841) |
Exploration and Evalutation Assets - Writedown of Properties | (8,469) | (87,338) |
Exploration and Evaluation Assets, Net Additions | 3,413,977 | 603,840 |
Exploration and Evaluation Assets, Foreign Currency Translation | (31,160) | (6,509) |
Exploration and Evaluation Assets, Ending Balance | 7,708,379 | 4,325,562 |
Exploration and Evaluation Assets, Community relations | 1,420 | |
Exploration and Evaluation Assets, Management fees | 121,169 | |
USA, Horsethief | ||
Exploration and Evaluation Assets, Starting Balance | 178,638 | 173,156 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 2,107 | 45,929 |
Exploration and Evaluation Assets, Drilling | 0 | 540,092 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 13,094 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 12,761 |
Exploration and Evaluation Assets, Geochemical | 38,348 | 114,324 |
Exploration and Evaluation Assets, Geological consulting | 12,959 | 245,193 |
Exploration and Evalutation Assets - Geophysics | 3,447 | 45,753 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 3,335 |
Exploration and Evaluation Assets, Licence and permits | (18,243) | 43,400 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 23,393 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 31,267 |
Exploration and Evaluation Assets, Total expenses | 62,011 | 1,216,317 |
Exploration and Evaluation Assets, Recovered exploration expenditures | (92,087) | (1,210,473) |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | (30,076) | 5,844 |
Exploration and Evaluation Assets, Foreign Currency Translation | 1,991 | (362) |
Exploration and Evaluation Assets, Ending Balance | 150,553 | 178,638 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 121,169 | |
Twin Canyon | ||
Exploration and Evaluation Assets, Starting Balance | 351,336 | 0 |
Exploration and Evaluation Assets, Property acquisition | 19,112 | 185,012 |
Exploration and Evaluation Assets, Total | 19,112 | 185,012 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 8,983 | 16,353 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 641 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 1,057 | 3,266 |
Exploration and Evaluation Assets, Geochemical | 13,962 | 11,375 |
Exploration and Evaluation Assets, Geological consulting | 127,600 | 106,014 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 12,577 | 29,316 |
Exploration and Evaluation Assets, Permitting | 11,501 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 11,727 | 0 |
Exploration and Evalutation Assets - Trenching | 1,529 | 0 |
Exploration and Evaluation Assets, Total expenses | 189,577 | 166,324 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | |
Exploration and Evaluation Assets, Net Additions | 208,689 | 351,336 |
Exploration and Evaluation Assets, Foreign Currency Translation | (15,751) | 0 |
Exploration and Evaluation Assets, Ending Balance | 544,274 | 351,336 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
USA, Bellview | ||
Exploration and Evaluation Assets, Starting Balance | 97,786 | 85,548 |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 1,870 |
Exploration and Evaluation Assets, Geological consulting | 725 | 71 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 7,683 | 10,368 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 8,408 | 12,309 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 8,408 | 12,309 |
Exploration and Evaluation Assets, Foreign Currency Translation | 178 | (71) |
Exploration and Evaluation Assets, Ending Balance | 106,372 | 97,786 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
USA, BP | ||
Exploration and Evaluation Assets, Starting Balance | 260,569 | 248,975 |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 1,003 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 1,478 |
Exploration and Evaluation Assets, Geological consulting | 3,719 | 1,701 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 32,039 | 33,424 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 36,761 | 36,603 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | (25,009) |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 36,761 | 11,594 |
Exploration and Evaluation Assets, Foreign Currency Translation | 1,157 | 0 |
Exploration and Evaluation Assets, Ending Balance | 298,487 | 260,569 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Strategic Alliance Program | ||
Exploration and Evaluation Assets, Starting Balance | 0 | |
Exploration and Evaluation Assets, Claim staking | 25,482 | |
Exploration and Evaluation Assets, Property acquisition | 20,041 | |
Exploration and Evaluation Assets, Total | 45,523 | |
Exploration and Evaluation Assets, Aircraft charter | 0 | |
Exploration and Evaluation Assets, Camp, travel and meals | 4,283 | |
Exploration and Evaluation Assets, Drilling | 0 | |
Exploration and Evaluation Assets, Field equipment rental | 0 | |
Exploration and Evaluation Assets, Field supplies and maps | 519 | |
Exploration and Evaluation Assets, Geochemical | 0 | |
Exploration and Evaluation Assets, Geological consulting | 67,175 | |
Exploration and Evalutation Assets - Geophysics | 0 | |
Exploration and Evaluation Assets, Legal and accounting | 14 | |
Exploration and Evaluation Assets, Licence and permits | 50,908 | |
Exploration and Evaluation Assets, Permitting | 13,708 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | |
Exploration and Evalutation Assets - Trenching | 892 | |
Exploration and Evaluation Assets, Total expenses | 137,499 | |
Exploration and Evaluation Assets, Recovered exploration expenditures | (115,893) | |
Exploration and Evalutation Assets - Writedown of Properties | 0 | |
Exploration and Evaluation Assets, Net Additions | 67,129 | |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | |
Exploration and Evaluation Assets, Ending Balance | 67,129 | 0 |
USA, Others | ||
Exploration and Evaluation Assets, Starting Balance | 23,546 | 23,404 |
Exploration and Evaluation Assets, Claim staking | 7,948 | |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 7,948 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 322 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 8,902 | 0 |
Exploration and Evalutation Assets - Geophysics | 0 | |
Exploration and Evaluation Assets, Legal and accounting | 8 | 0 |
Exploration and Evaluation Assets, Licence and permits | 3,310 | 3,501 |
Exploration and Evaluation Assets, Permitting | 1,433 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | |
Exploration and Evaluation Assets, Total expenses | 13,975 | 3,501 |
Exploration and Evaluation Assets, Recovered exploration expenditures | (13,274) | (3,359) |
Exploration and Evalutation Assets - Writedown of Properties | (8,469) | 0 |
Exploration and Evaluation Assets, Net Additions | 180 | 142 |
Exploration and Evaluation Assets, Foreign Currency Translation | (66) | 0 |
Exploration and Evaluation Assets, Ending Balance | 23,660 | 23,546 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Canada, Haldane | ||
Exploration and Evaluation Assets, Starting Balance | 1,627,078 | 1,433,291 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 41,500 | 31,250 |
Exploration and Evaluation Assets, Total | 41,500 | 31,250 |
Exploration and Evaluation Assets, Aircraft charter | 33,058 | 30,366 |
Exploration and Evaluation Assets, Camp, travel and meals | 493,970 | 11,274 |
Exploration and Evaluation Assets, Drilling | 1,547,793 | 7,020 |
Exploration and Evaluation Assets, Field equipment rental | 100,150 | 6,788 |
Exploration and Evaluation Assets, Field supplies and maps | 31,958 | 5,397 |
Exploration and Evaluation Assets, Geochemical | 17,977 | 2,100 |
Exploration and Evaluation Assets, Geological consulting | 727,772 | 80,548 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 43 | 38 |
Exploration and Evaluation Assets, Licence and permits | 8,640 | 5,335 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 18,242 | 12,251 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 2,979,603 | 162,537 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 3,021,103 | 193,787 |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | 0 |
Exploration and Evaluation Assets, Ending Balance | 4,648,181 | 1,627,078 |
Exploration and Evaluation Assets, Community relations | 1,420 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Canada, KRL | ||
Exploration and Evaluation Assets, Starting Balance | 257,487 | 139,847 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 63,000 | 101,000 |
Exploration and Evaluation Assets, Total | 63,000 | 101,000 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 690 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 4 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 7,282 | 13,816 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 500 |
Exploration and Evaluation Assets, Licence and permits | 2,500 | 0 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 1,630 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 9,782 | 16,640 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 72,782 | 117,640 |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | 0 |
Exploration and Evaluation Assets, Ending Balance | 330,269 | 257,487 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Tim | ||
Exploration and Evaluation Assets, Starting Balance | (9,949) | 1 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 0 | 50 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 0 | 0 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 0 | 50 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | (10,000) |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 0 | (9,950) |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | 0 |
Exploration and Evaluation Assets, Ending Balance | (9,949) | (9,949) |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Canada, Others | ||
Exploration and Evaluation Assets, Starting Balance | 1,114,250 | 1,198,997 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 1,347 | 2,591 |
Exploration and Evalutation Assets - Geophysics | 0 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 3,570 | 0 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | 0 |
Exploration and Evaluation Assets, Total expenses | 4,917 | 2,591 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | (87,338) |
Exploration and Evaluation Assets, Net Additions | 4,917 | (84,747) |
Exploration and Evaluation Assets, Foreign Currency Translation | 0 | 0 |
Exploration and Evaluation Assets, Ending Balance | 1,119,167 | 1,114,250 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | 0 | |
Peru, Yanac | ||
Exploration and Evaluation Assets, Starting Balance | 424,821 | 425,012 |
Exploration and Evaluation Assets, Claim staking | 0 | |
Exploration and Evaluation Assets, Property acquisition | 0 | 0 |
Exploration and Evaluation Assets, Total | 0 | 0 |
Exploration and Evaluation Assets, Aircraft charter | 0 | 0 |
Exploration and Evaluation Assets, Camp, travel and meals | 0 | 0 |
Exploration and Evaluation Assets, Drilling | 0 | 0 |
Exploration and Evaluation Assets, Field equipment rental | 0 | 0 |
Exploration and Evaluation Assets, Field supplies and maps | 0 | 0 |
Exploration and Evaluation Assets, Geochemical | 0 | 0 |
Exploration and Evaluation Assets, Geological consulting | 18,499 | 0 |
Exploration and Evaluation Assets, Legal and accounting | 0 | 0 |
Exploration and Evaluation Assets, Licence and permits | 5,585 | 5,885 |
Exploration and Evaluation Assets, Permitting | 0 | |
Exploration and Evaluation Assets, Reclamation | 0 | |
Exploration and Evaluation Assets, Reporting, drafting, sampling, and analysis | 0 | 0 |
Exploration and Evalutation Assets - Trenching | 0 | |
Exploration and Evaluation Assets, Total expenses | 24,084 | 5,885 |
Exploration and Evaluation Assets, Recovered exploration expenditures | 0 | 0 |
Exploration and Evalutation Assets - Writedown of Properties | 0 | 0 |
Exploration and Evaluation Assets, Net Additions | 24,084 | 5,885 |
Exploration and Evaluation Assets, Foreign Currency Translation | (18,669) | (6,076) |
Exploration and Evaluation Assets, Ending Balance | 430,236 | 424,821 |
Exploration and Evaluation Assets, Community relations | 0 | |
Exploration and Evaluation Assets, Management fees | $ 0 | |
Accumulated expense on advancing property | 430,236 | |
Others - Klondike (Colorado) | ||
Accumulated expense on advancing property | 49,263 | |
Others - Stateline (Colorado) | ||
Accumulated expense on advancing property | 17,866 | |
Others - East Walker (Nevada) | ||
Accumulated expense on advancing property | 29,744 | |
Haldane (Yukon) | ||
Accumulated expense on advancing property | 4,648,181 | |
KRL (British Columbia) | ||
Accumulated expense on advancing property | 330,269 | |
Others | ||
Accumulated expense on advancing property | $ 1,119,167 |
6. SHARE CAPITAL (Details)
6. SHARE CAPITAL (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share Capital Transaction 1 | |||
Shares, Issued | 7,670,370 | 22,000,000 | 5,000,000 |
Sale of Stock, Price Per Share | $ 0.135 | $ 0.05 | $ 0.05 |
Stock Issued | $ 1,035,500 | $ 1,100,000 | $ 250,000 |
Share Capital Transaction 2 | |||
Shares, Issued | 13,881,130 | 10,203,333 | |
Sale of Stock, Price Per Share | $ 0.155 | $ 0.06 | |
Stock Issued | $ 2,151,575 | $ 612,200 | |
Finder's fee paid | $ 50,100 | ||
Finder's Warrants issued | 1,002,000 | ||
Share Capital Transaction 3 | |||
Shares, Issued | 125,000 | ||
Sale of Stock, Price Per Share | $ 0.09 | ||
Stock Issued | $ 11,250 | ||
Finder's fee paid | $ 199,868 | $ 50,760 | |
Finder's Warrants issued | 1,339,036 | 887,250 | |
Share Capital Transaction 4 | |||
Shares, Issued | 10,510,333 | 500,000 | 125,000 |
Sale of Stock, Price Per Share | $ 0.12 | $ 0.085 | $ 0.065 |
Stock Issued | $ 1,261,240 | $ 42,500 | $ 8,125 |
Share Capital Transaction 5 | |||
Shares, Issued | 500,000 | 13,820,000 | |
Sale of Stock, Price Per Share | $ 0.13 | $ 0.05 | |
Stock Issued | $ 65,000 | $ 691,000 | |
Finder's fee paid | $ 79,870 | ||
Finder's Warrants issued | 665,583 | ||
Share Capital Transaction 6 | |||
Shares, Issued | 150,000 | 200,000 | 6,908,333 |
Sale of Stock, Price Per Share | $ 0.11 | $ 0.13 | $ 0.06 |
Stock Issued | $ 16,500 | $ 26,000 | $ 414,500 |
Share Capital Transaction 7 | |||
Shares, Issued | 200,000 | ||
Sale of Stock, Price Per Share | $ 0.065 | ||
Stock Issued | $ 13,000 | $ 388,151 | |
Finder's fee paid | $ 55,050 | ||
Finder's Warrants issued | 1,007,125 | ||
Share Capital Transaction 8 | |||
Shares, Issued | 1,136,363 | ||
Sale of Stock, Price Per Share | $ 0.066 | ||
Stock Issued | $ 626,805 | $ 75,000 | |
Share Capital Transaction 9 | |||
Shares, Issued | 100,000 | ||
Sale of Stock, Price Per Share | $ 0.065 | ||
Stock Issued | $ 6,500 |
7. STOCK OPTIONS AND WARRANTS_6
7. STOCK OPTIONS AND WARRANTS: Share-Based Payment Arrangement, Option, Activity (Details) | 12 Months Ended | ||
Sep. 30, 2021 USD ($) $ / shares shares | Sep. 30, 2020 USD ($) $ / shares shares | Sep. 30, 2019 USD ($) $ / shares shares | |
Weighted average contractual remaining life of options in years | 3.11 | 2.55 | 2.93 |
Weighted average fair value of stock options granted | $ | $ 0.10 | $ 0 | $ 0.08 |
Stock options | |||
Outstanding | 3,910,000 | 5,499,500 | 3,507,000 |
Granted | 2,005,000 | 0 | 2,015,000 |
Exercise of options | 0 | (250,000) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,345,000) | (1,339,500) | (22,500) |
Outstanding | 4,570,000 | 3,910,000 | 5,499,500 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 3,910,000 | 5,499,500 | 3,507,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 4,570,000 | 3,910,000 | 5,499,500 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.12 | $ 0.15 | $ 0.18 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0.14 | 0 | 0.10 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0 | 0.10 | 0 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.16 | 0.24 | 0.25 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0.12 | 0.12 | 0.15 |
Stock options | Expiry Date, April 29, 2021 | |||
Exercise price | $ / shares | $ 0.25 | $ 0.25 | $ 0.25 |
Outstanding | 100,000 | 100,000 | 100,000 |
Granted | 0 | 0 | 0 |
Exercise of options | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (100,000) | 0 | 0 |
Outstanding | 0 | 100,000 | 100,000 |
Stock options | Expiry Date, September 30, 2021 | |||
Exercise price | $ / shares | $ 0.15 | $ 0.15 | $ 0.15 |
Outstanding | 1,245,000 | 1,270,000 | 1,270,000 |
Granted | 0 | 0 | 0 |
Exercise of options | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,245,000) | (25,000) | 0 |
Outstanding | 0 | 1,245,000 | 1,270,000 |
Stock options | Expiry Date, March 14, 2023 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 |
Outstanding | 840,000 | 850,000 | 850,000 |
Granted | 0 | 0 | 0 |
Exercise of options | 0 | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | (10,000) | 0 |
Outstanding | 840,000 | 840,000 | 850,000 |
Stock options | Expiry Date, July 30, 2024 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 |
Outstanding | 1,725,000 | 2,015,000 | 0 |
Granted | 0 | 0 | 2,015,000 |
Exercise of options | 0 | (250,000) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | (40,000) | 0 |
Outstanding | 1,725,000 | 1,725,000 | 2,015,000 |
Stock options | Expiry Date, October 15, 2025 | |||
Exercise price | $ / shares | $ 0.14 | ||
Outstanding | 0 | ||
Granted | 2,005,000 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | ||
Outstanding | 2,005,000 | 0 | |
Stock options | Expiry Date, April 29, 2020 | |||
Exercise price | $ / shares | $ 0.25 | $ 0.25 | |
Outstanding | 0 | 1,264,500 | 1,264,500 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,264,500) | 0 | |
Outstanding | 0 | 1,264,500 | |
Stock options | Expiry Date, February 25, 2019 | |||
Exercise price | $ / shares | $ 0.25 | ||
Outstanding | 0 | 22,500 | |
Granted | 0 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (22,500) | ||
Outstanding | 0 |
7. STOCK OPTIONS AND WARRANTS_7
7. STOCK OPTIONS AND WARRANTS: Defined Benefit Plan, Assumptions (Details) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2019 | |
Details | ||
Fair Value of Options, Risk-free Interest Rate | 1.29% | 1.25% |
Fair Value of Options, Expected Life | 5 years | 5 years |
Fair Value of Options, Expected Volatility | 101.56% | 175.27% |
Fair Value of Options, Expected Dividend Yield | 0% | 0% |
7. STOCK OPTIONS AND WARRANTS_8
7. STOCK OPTIONS AND WARRANTS: Schedule of Warrants Activity (Details) | 12 Months Ended | ||
Sep. 30, 2021 $ / shares shares | Sep. 30, 2020 $ / shares shares | Sep. 30, 2019 $ / shares shares | |
Weighted average contractual remaining life of warrants in years | 1.15 | 1.94 | 1.44 |
Warrants | |||
Outstanding | 37,790,000 | 37,689,732 | 20,069,732 |
Granted | 3,835,186 | 22,000,000 | 18,820,000 |
Exercise of options | (6,240,000) | (3,030,000) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,100,000) | (18,869,732) | (1,200,000) |
Outstanding | 34,285,186 | 37,790,000 | 37,689,732 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.10 | $ 0.13 | $ 0.16 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0.20 | 0.10 | 0.10 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0.10 | 0.10 | 0 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.10 | 0.16 | 0.20 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0.11 | 0.10 | 0.13 |
Warrants | Expiry Date, December 24, 2020 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 |
Outstanding | 4,400,000 | 5,000,000 | 0 |
Granted | 0 | 0 | 5,000,000 |
Exercise of options | (3,300,000) | (600,000) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,100,000) | 0 | 0 |
Outstanding | 0 | 4,400,000 | 5,000,000 |
Warrants | Expiry Date, July 9, 2022 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 |
Outstanding | 12,600,000 | 13,820,000 | 0 |
Granted | 0 | 0 | 13,820,000 |
Exercise of options | (1,250,000) | (1,220,000) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | 0 |
Outstanding | 11,350,000 | 12,600,000 | 13,820,000 |
Warrants | Expiry Date, February 23, 2023 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | |
Outstanding | 20,790,000 | 0 | |
Granted | 0 | 22,000,000 | |
Exercise of options | (1,690,000) | (1,210,000) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | ||
Outstanding | 19,100,000 | 20,790,000 | 0 |
Warrants | Expiry Date, October 9, 2022 | |||
Exercise price | $ / shares | $ 0.20 | ||
Outstanding | 0 | ||
Granted | 3,835,186 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | ||
Outstanding | 3,835,186 | 0 | |
Warrants | Expiry Date, March 6, 2020 | |||
Exercise price | $ / shares | $ 0.20 | $ 0.20 | |
Outstanding | 0 | 2,500,000 | 2,500,000 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (2,500,000) | 0 | |
Outstanding | 0 | 2,500,000 | |
Warrants | Expiry Date, March 8, 2020 | |||
Exercise price | $ / shares | $ 0.15 | $ 0.15 | |
Outstanding | 0 | 7,221,875 | 7,221,875 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (7,221,875) | 0 | |
Outstanding | 0 | 7,221,875 | |
Warrants | Expiry Date, April 7, 2020 | |||
Exercise price | $ / shares | $ 0.15 | $ 0.15 | |
Outstanding | 0 | 3,255,000 | 3,255,000 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (3,255,000) | 0 | |
Outstanding | 0 | 3,255,000 | |
Warrants | Expiry Date, April 25, 2020 | |||
Exercise price | $ / shares | $ 0.15 | $ 0.15 | |
Outstanding | 0 | 5,000,000 | 5,000,000 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (5,000,000) | 0 | |
Outstanding | 0 | 5,000,000 | |
Warrants | Expiry Date, August 16, 2020 | |||
Exercise price | $ / shares | $ 0.20 | $ 0.20 | |
Outstanding | 0 | 892,857 | 892,857 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (892,857) | 0 | |
Outstanding | 0 | 892,857 | |
Warrants | Expiry Date, September 28, 2019 | |||
Exercise price | $ / shares | $ 0.20 | ||
Outstanding | 0 | 1,200,000 | |
Granted | 0 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (1,200,000) | ||
Outstanding | 0 |
7. STOCK OPTIONS AND WARRANTS_9
7. STOCK OPTIONS AND WARRANTS: Schedule of Finder's Warrants Activity (Details) | 12 Months Ended | ||
Sep. 30, 2021 $ / shares shares | Sep. 30, 2020 $ / shares shares | Sep. 30, 2019 $ / shares shares | |
Weighted average contractual remaining life of finder's warrants in years | 1.25 | 0.41 | 0.53 |
Finder's warrants | |||
Outstanding | 806,100 | 2,160,475 | 266,100 |
Granted | 2,004,619 | 1,002,000 | 1,894,375 |
Exercise of options | (56,100) | (1,203,025) | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (750,000) | (1,153,350) | 0 |
Outstanding | 2,004,619 | 806,100 | 2,160,475 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.05 | $ 0.06 | $ 0.10 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | 0.13 | 0.05 | 0.05 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | 0.05 | 0.05 | 0 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | 0.15 | 0.06 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | 0.13 | 0.05 | $ 0.06 |
Finder's warrants | Expiry Date, February 25, 2021 | |||
Exercise price | $ / shares | $ 0.05 | $ 0.05 | |
Outstanding | 806,100 | 0 | |
Granted | 0 | 1,002,000 | |
Exercise of options | (56,100) | (195,900) | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (750,000) | 0 | |
Outstanding | 0 | 806,100 | 0 |
Finder's warrants | Expiry Date, October 9, 2022 | |||
Exercise price | $ / shares | $ 0.135 | ||
Outstanding | 0 | ||
Granted | 1,339,036 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | ||
Outstanding | 1,339,036 | 0 | |
Finder's warrants | Expiry Date, June 14, 2023 | |||
Exercise price | $ / shares | $ 0.12 | ||
Outstanding | 0 | ||
Granted | 665,583 | ||
Exercise of options | 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | ||
Outstanding | 665,583 | 0 | |
Finder's warrants | Expiry Date, December 24, 2019 | |||
Exercise price | $ / shares | $ 0.05 | $ 0.05 | |
Outstanding | 0 | 887,250 | 0 |
Granted | 0 | 887,250 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (887,250) | ||
Outstanding | 0 | 887,250 | |
Finder's warrants | Expiry Date, April 25, 2020 | |||
Exercise price | $ / shares | $ 0.10 | $ 0.10 | |
Outstanding | 0 | 240,000 | 240,000 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (240,000) | 0 | |
Outstanding | 0 | 240,000 | |
Finder's warrants | Expiry Date, July 9, 2020 | |||
Exercise price | $ / shares | $ 0.05 | $ 0.05 | |
Outstanding | 0 | 1,007,125 | 0 |
Granted | 0 | 1,007,125 | |
Exercise of options | (1,007,125) | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | 0 | 0 | |
Outstanding | 0 | 1,007,125 | |
Finder's warrants | Expiry Date, August 16, 2020 | |||
Exercise price | $ / shares | $ 0.14 | $ 0.14 | |
Outstanding | 0 | 26,100 | 26,100 |
Granted | 0 | 0 | |
Exercise of options | 0 | 0 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | (26,100) | 0 | |
Outstanding | 0 | 26,100 |
7. STOCK OPTIONS AND WARRANT_10
7. STOCK OPTIONS AND WARRANTS: Schedule of weighted average assumptions used to estimate the fair value of finder's warrants (Details) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Details | |||
Fair Value of Finder's Warrants, Risk-free interest rate | 1.09% | 1.58% | 1.92% |
Fair Value of Finder's Warrants, Expected Life | 2 years | 1 year | 1 year |
Fair Value of Finder's Warrants, Expected volatility | 120.96% | 110.77% | 95.54% |
Fair Value of Finder's Warrants, Expected dividend yield | 0% | 0% | 0% |
8. RELATED PARTY TRANSACTIONS_3
8. RELATED PARTY TRANSACTIONS: Schedule of Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | $ 192,270 | $ 147,000 | $ 146,150 |
Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 175,895 | 25,000 | |
Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 20,125 | |
Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 12,075 | |
Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 30,270 | 24,150 | |
Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 12,075 | |
John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 12,075 | |
Short-term employee benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 147,000 | 147,000 | 122,000 |
Short-term employee benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 25,000 | 25,000 | |
Short-term employee benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Short-term employee benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Post- employment benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Post- employment benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Other long- term benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Other long- term benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | 0 |
Termination benefits | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Termination benefits | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | 0 | 0 | |
Share-based payments | Jason Weber Chief Executive Officer, Director | |||
Related Party Transaction, Amounts of Transaction | 30,270 | 0 | 24,150 |
Share-based payments | Rob Duncan, VP of Exploration | |||
Related Party Transaction, Amounts of Transaction | 30,270 | $ 0 | |
Share-based payments | Winnie Wong Chief Financial Officer | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 20,125 | |
Share-based payments | Marc G. Blythe Director | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 12,075 | |
Share-based payments | Mark T. Brown, Director | |||
Related Party Transaction, Amounts of Transaction | 30,270 | 24,150 | |
Share-based payments | Craig Lindsay Director | |||
Related Party Transaction, Amounts of Transaction | 20,180 | 12,075 | |
Share-based payments | John Wilson Director | |||
Related Party Transaction, Amounts of Transaction | $ 20,180 | $ 12,075 |
8. RELATED PARTY TRANSACTIONS_4
8. RELATED PARTY TRANSACTIONS: Schedule of Related party transactions and balances (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | ||
Due to related parties | $ 271,337 | $ 271,337 | |
Jason Weber | |||
Services | Consulting fee and share-based payment | ||
Due to related parties | $ 0 | 0 | |
Rob Duncan | |||
Services | Consulting fee and Share-based payment | ||
Due to related parties | $ 0 | 0 | |
Pacific Opportunity Capital Ltd. (a) | |||
Services | [1] | Accounting, financing and shareholder communication services | |
Due to related parties | [1] | $ 217,337 | $ 217,337 |
[1]The president of Pacific Opportunity Capital Ltd., a private company, is a director of the Company. |
9. SUPPLEMENTAL DISCLOSURE WI_2
9. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | |
Details | |||
Exploration and evaluation asset costs included in accounts payable and accrued liabilities | $ 148,335 | $ 71,225 | $ 245,702 |
Share issue costs included in Due to Related Parties | 32,750 | 71,250 | |
Share capital recorded | 29,500 | ||
Share issue costs was included in due to related parties | $ 52,750 | ||
Share issue costs related to the issue of finder's warrants | 32,665 | ||
Share capital related to the issue of common shares | $ 144,750 | ||
Share issue costs related to the issue of finder's warrants | $ 63,816 |
10. SEGMENTED INFORMATION_ Sc_2
10. SEGMENTED INFORMATION: Schedule of Geographical Segment Reporting Information (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
Assets, Noncurrent | $ 7,772,093 | $ 4,367,641 |
UNITED STATES | ||
Assets, Noncurrent | 1,203,216 | 911,875 |
PERU | ||
Assets, Noncurrent | 466,288 | 466,900 |
CANADA | ||
Assets, Noncurrent | $ 6,102,589 | $ 2,988,866 |
11. INCOME TAXES_ Schedule of_2
11. INCOME TAXES: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||
Loss before income taxes | $ (939,124) | $ (1,056,142) |
Expected income tax recovery | (255,000) | (287,000) |
Permanent differences | (40,000) | (5,000) |
Share issue costs | (40,000) | (21,000) |
Change in unrecognized deductible temporary differences | 335,000 | 313,000 |
Total deferred income tax (recovery) expense | $ 0 | $ 0 |
11. INCOME TAXES_ Schedule of_3
11. INCOME TAXES: Schedule of tax credits and unused tax losses (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Exploration and evaluation assets | ||
Significant components of the Company’s temporary differences, unused tax credits and unused tax losses | $ (6,000) | $ 2,132,000 |
Expiry Date Range | No expiry date | No expiry date |
Property and equipment | ||
Significant components of the Company’s temporary differences, unused tax credits and unused tax losses | $ 14,000 | $ 16,000 |
Expiry Date Range | No expiry date | No expiry date |
Share issue costs | ||
Significant components of the Company’s temporary differences, unused tax credits and unused tax losses | $ 416,000 | $ 216,000 |
Expiry Date Range | 2022 to 2025 | 2021 to 2024 |
Allowable capital losses | ||
Significant components of the Company’s temporary differences, unused tax credits and unused tax losses | $ 3,762,000 | $ 3,762,000 |
Expiry Date Range | No expiry date | No expiry date |
Non-capital losses available for future periods | ||
Significant components of the Company’s temporary differences, unused tax credits and unused tax losses | $ 18,401,000 | $ 17,205,000 |
Expiry Date Range | 2026 to 2041 | 2026 to 2040 |
12. FINANCIAL INSTRUMENTS_ Sc_2
12. FINANCIAL INSTRUMENTS: Schedule of Financial Assets measured at fair value (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 |
Cash | $ 412,676 | $ 278,993 | $ 322,984 |
Restricted Cash | 0 | 83,070 | $ 29,546 |
Fair Value, Inputs, Level 1 | |||
Cash | 412,676 | 278,993 | |
Restricted Cash | 83,070 | ||
Fair Value, Inputs, Level 2 | |||
Cash | 0 | 0 | |
Restricted Cash | 0 | ||
Fair Value, Inputs, Level 3 | |||
Cash | $ 0 | 0 | |
Restricted Cash | $ 0 |
14. CONTINGENT LIABILITIES (Det
14. CONTINGENT LIABILITIES (Details) | 12 Months Ended |
Sep. 30, 2021 USD ($) | |
Details | |
Contingent Liability | $ 173,783 |
15. EVENTS AFTER THE REPORTIN_2
15. EVENTS AFTER THE REPORTING PERIOD (Details) - shares | Jan. 18, 2022 | Dec. 07, 2021 |
Details | ||
Subsequent Event, Date | Jan. 18, 2022 | Dec. 07, 2021 |
Subsequent Event, Description | Company granted 5,800,000 stock options to its directors, officers, employees, consultants and contractors | Company and Cloudbreak announced that they signed an option agreement with Allied Copper Corp. (“Allied”) regarding the Klondike Property |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures | 5,800,000 |