XML 36 R11.htm IDEA: XBRL DOCUMENT

Note 6- Due On Mineral Rights Acquisition

12 Months Ended

Dec. 31, 2011

Note 6- Due On Mineral Rights Acquisition [Abstract]

Note 6- Due On Mineral Rights Acquisition

Note 6- Due On Mineral Rights Acquisition

The Company is required to make certain payments in respect of its 2010 acquisition of the Carson Property and its 2011 acquisition of the Garrett Property. These payments are due to 2214098 Ontario Ltd. and Firelake Resources Inc., the corporations from which the properties were acquired. The amounts due are unsecured, non-interest bearing, and are due as follows:

2012	$ 43,265
2013	34,416
2014	9,833
2015	34,416
Total	$ 121,930

As of December 31, 2011, the Company is in arrears on its payments by $14,750. This amount has been included above in the installments due for 2012.

- Definition

Disclosure of accounting policy for capitalizing costs incurred to write or acquire insurance contracts, the basis for and methodology for capitalizing such costs, the accounting for such deferred acquisition costs (DAC) when modifications or internal replacements of related insurance contracts occur and the effect on results of operations, and the methodology and amount of amortization. This disclosure addresses the nature, type, and amount of capitalized costs incurred to write or acquire insurance contracts.

+ References+ Details