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3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES: Asset Retirement Obligations (Policies)
12 Months Ended
Mar. 31, 2023
Policies  
Asset Retirement Obligations

Asset Retirement Obligations

 

In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of March 31, 2023 and 2022 the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable.