XML 20 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
Mineral Properties
6 Months Ended
Dec. 31, 2023
Mineral Industries Disclosures [Abstract]  
Mineral Properties

Note 8. Mineral Properties

The Company has capitalized acquisition costs on mineral properties as follows:

 

 

December 31, 2023

 

 

June 30, 2023

 

Sleeper and other Nevada based Projects

 

$

28,222,533

 

 

$

28,172,533

 

Grassy Mountain and other Oregon based Projects

 

 

23,285,728

 

 

 

23,285,728

 

 

 

$

51,508,261

 

 

$

51,458,261

 

Sleeper:

Sleeper is located in Humboldt County, Nevada, approximately 26 miles northwest of the town of Winnemucca.

Grassy Mountain:

The Grassy Mountain Project is located in Malheur County, Oregon, approximately 22 miles south of Vale, Oregon, and roughly 70 miles west of Boise, Idaho.

Other Nevada Based Projects:

During the three month period ended December 31, 2023, the Company made a payment to Nevada Select in the amount of $50,000 under its option agreement to purchase the Bald Peak claims.

Impairment of Mineral Properties

The Company reviews and evaluates its long-lived assets for impairment on an annual basis or more frequently when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. For the six months ended December 31, 2023 and 2022, no events or changes in circumstance are believed to have impacted recoverability of the Company’s long-lived assets. Accordingly, it was determined that no interim impairment was necessary.