MINERAL RIGHTS AND PROPERTIES (Tables)

12 Months Ended

Jul. 31, 2014

Schedule of Mineral Rights and Property Acquisition Costs [Table Text Block]

		July 31, 2014			July 31, 2013
Mineral Rights and Properties, Unproven
Palangana Mine	$	6,664,260		$	7,045,457
Goliad Project		8,689,127			8,689,127
Burke Hollow Project		1,495,750			1,495,750
Channen Project		-			428,164
Longhorn Project		116,870			78,392
Salvo Project		364,710			363,645
Nichols Project		154,774			154,774
Anderson Project		9,154,268			9,154,268
Workman Creek Project		1,372,008			1,287,158
Los Cuatros Project		257,250			257,250
Slick Rock Project		661,271			653,213
Todilto Project		-			166,720
Yuty Project		11,947,144			11,947,144
Coronel Oviedo Project		1,133,412			1,133,412
Other Property Acquisitions		262,115			316,256
		42,272,959			43,170,730
Accumulated Depletion		(3,454,533	)		(2,278,053	)
		38,818,426			40,892,677
Databases		2,405,038			2,345,038
Accumulated Amortization		(1,928,901	)		(1,685,011	)
		476,137			660,027
Land Use Agreements		390,155			390,155
Accumulated Amortization		(196,019	)		(157,007	)
		194,136			233,148
	$	39,488,699		$	41,785,852

Schedule of Estimated Depletion and Amortization of Mineral Rights and Properties [Table Text Block]

Fiscal 2015	$	1,234,021
Fiscal 2016		1,679,722
Fiscal 2017		1,592,110
Fiscal 2018		1,575,533
Fiscal 2019		1,199,724
Total	$	7,281,110

Schedule of Mineral Property Expenditures [Table Text Block]

		Year Ended July 31,
		2014		2013		2012
Mineral Property Expenditures
Palangana Mine	$	2,566,770	$	4,347,025	$	7,597,102
Goliad Project		1,747,619		540,853		646,314
Burke Hollow Project		2,094,089		2,225,132		1,176,101
Channen Project		728		843,243		190,009
Longhorn Project		71,497		16,335		10,163
Salvo Project		14,384		54,329		1,113,659
Anderson Project		254,840		117,008		375,058
Workman Creek Project		32,290		33,573		50,069
Slick Rock Project		66,525		147,043		47,691
Yuty Project		451,464		424,411		627,623
Coronel Oviedo Project		759,804		632,454		2,207,255
Other Mineral Property Expenditures		1,100,638		629,285		897,678
	$	9,160,648	$	10,010,691	$	14,938,722