Mineral Properties and Interests

6 Months Ended

Jun. 30, 2022

Mineral Industries Disclosures [Abstract]

MINERAL PROPERTIES AND INTERESTS

NOTE 6 – MINERAL PROPERTIES AND INTERESTS

Mineral properties and interests as of June 30, 2022 and December 31, 2021 are as follows:

	June 30,			December 31,
	2022			2021
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		(852,000	)		(864,436	)
		3,098,000			3,085,564
Asset retirement obligation assets
Kiewit Site		725,122			725,122
Kiewit Exploration		28,377			28,377
JJS property		31,016			31,016
Total		784,515			784,515
Less accumulated amortization		(266,022	)		(190,427	)
		518,493			594,088
Total	$	3,616,493		$	3,679,652

The Company is required to pay a 4% net smelter royalty (“NSR”) to PDK Utah Holdings, LP (“PDK”) on revenues of gold and silver from the Kiewit gold property and the JJS properties. See Note 7.