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6. PROPERTY AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2012

The following table sets forth our fixed assets at the date indicated. These assets, with the exception of land which is not depreciable, are being depreciated over their remaining useful lives.

	June 30, 2012		December 31, 2011

Mining Property/Land	$	4,550,596	$	4,393,985
Office Equipment		107,941		104,086
Furniture and Fixtures		104,123		100,404
Computer Equipment		56,201		54,195
Transportation/Heavy Equipment		420,012		236,090
Office Improvements		76,126		72,195
Total Property and Equipment	$	5,314,999	$	4,960,955

Less Accumulated Depreciation		255,542		184,178

Net Property and Equipment	$	5,059,457	$	4,776,777

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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