Mineral Properties and Interests

6 Months Ended

Jun. 30, 2021

Mineral Industries Disclosures [Abstract]

MINERAL PROPERTIES AND INTERESTS

NOTE 7 – MINERAL PROPERTIES AND INTERESTS

Mineral properties and interests as of June 30, 2021 and December 31, 2020 are as follows:

	June 30, 2021			December 31, 2020
Kiewit and all other sites	$	3,700,000		$	3,700,000
JJS property		250,000			250,000
		3,950,000			3,950,000
Less accumulated amortization		(803,036	)		(770,560	)
		3,146,964			3,179,440
Asset retirement obligation
Kiewit Site		725,122			718,289
Kiewit Exploration		28,377			28,377
JJS property		31,016			31,016
Total		784,515			777,682
Less accumulated amortization		(179,716	)		(171,254	)
		604,799			606,428
Total	$	3,751,763		$	3,785,868

The Company is required to pay a 4% net smelter royalty (“NSR”) to PDK on revenues of gold and silver from the Kiewit gold property and the JJS properties.