INCOME TAXES (Tables)

12 Months Ended

Jul. 31, 2014

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended July 31,
	2014	2013	2012
Federal income tax provision rate	35.00%	35.00%	35.00%
State income tax provision rate, net of federal income tax effect	0.22%	0.10%	0.18%
Total income tax provision rate	35.22%	35.10%	35.18%

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended July 31,
		2014			2013			2012
Loss before income taxes	$	26,044,816		$	21,873,844		$	25,145,508
Corporate tax rate		35.22%			35.10%			35.18%
Expected tax recovery		9,172,984			7,677,719			8,846,190
(Increase) decrease resulting from
Foreign tax rate differences		(286,071	)		(211,744	)		(660,185	)
Permanent differences		(585,482	)		(193,821	)		(864,911	)
Prior year true-up		79,672			522,982			723,571
State tax rate true-up		199,795			(58,729	)		59,559
Other		(87,134	)		(49,289	)		(2,207	)
Change in valuation allowance		(8,419,286	)		(7,684,149	)		(8,021,670	)
Tax adjustment from operations		74,478			2,969			80,347
Unrealized (loss) gain, other comprehensive income		(4,769	)		7,784			(18,559	)
Deferred income tax benefit	$	69,709		$	10,753		$	61,788

Schedule of Components of Loss (Income) from Continuing Operations [Table Text Block]

		Year Ended July 31,
		2014			2013			2012
United States	$	25,009,106		$	21,105,334		$	22,586,744
Canada		(155,408	)		(125,652	)		(101,683	)
Paraguay		1,191,118			894,162			2,660,447
	$	26,044,816		$	21,873,844		$	25,145,508

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		July 31, 2014			July 31, 2013
Deferred tax assets (liabilities)
Mineral property acquisitions	$	1,644,916		$	1,169,831
Exploration costs		11,424,636			9,714,579
Stock option expense		4,924,354			4,461,072
Depreciable property		(430,745	)		(110,031	)
Inventories		(1,143,744	)		(551,954	)
Asset retirement obligations		(429,710	)		(523,265	)
Other		201,876			214,811
Loss carry forward		37,271,811			30,681,618
		53,463,394			45,056,661
Valuation allowance		(53,468,163	)		(45,048,877	)
Deferred tax assets		(4,769	)		7,784
Deferred tax assets (liabilities), other comprehensive income		4,769			(7,784	)
Deferred tax liabilities
Mineral property acquisition		(711,477	)		(781,186	)
Net deferred tax liabilities	$	(711,477	)	$	(781,186	)

Summary of Operating Loss Carryforwards [Table Text Block]

July 31, 2023	$	180,892
July 31, 2024		228,757
July 31, 2025		507,833
July 31, 2026		5,895,221
July 31, 2027		3,892,722
July 31, 2028		9,913,533
July 31, 2029		8,469,032
July 31, 2030		7,319,644
July 31, 2031		14,420,187
July 31, 2032		15,014,013
July 31, 2033		16,332,007
July 31, 2034		19,614,639
	$	101,788,480

Summary of Operating Loss Carryforwards, Canadian Dollars [Table Text Block]

July 31, 2027	$	183,105
July 31, 2028		629,788
July 31, 2029		769,072
July 31, 2030		1,360,900
July 31, 2031		2,210,551
July 31, 2032		761,843
July 31, 2033		69,854
July 31, 2034		61,855
	$	6,046,968