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Mineral Properties
12 Months Ended
Jun. 30, 2021
Mineral Industries Disclosures [Abstract]  
Mineral Properties

Note 7. Mineral Properties

The Company has capitalized acquisition costs on mineral properties as follows:

 

 

 

June 30, 2021

 

 

June 30, 2020

 

Sleeper

 

$

26,011,976

 

 

$

24,147,585

 

Grassy Mountain

 

 

23,185,728

 

 

 

23,185,728

 

 

 

$

49,197,704

 

 

$

47,333,313

 

 

Sleeper:

Sleeper is located in Humbolt County, Nevada approximately 26 miles northwest of the town of Winnemucca.  The Sleeper Gold Mine consists of 2,322 unpatented mining claims totaling approximately 38,300 acres.

During the year-ended June 30, 2021, the Company recorded an increase in reclamation and environmental obligation of $1,498,950 (2020 - $278,181) (Note 8) for the Sleeper Gold Project.  

Also, during the year-ended June 30, 2021, the Company purchased 152 unpatented lode mining claims by issuing 257,353 shares of common stock for a fair value of $277,941 and cash payment of $87,500 for a total consideration of $365,441.  These claims have been included as part of the Sleeper Gold Project.  

Grassy Mountain:

The Grassy Mountain Project is located in Malheur County, Oregon, approximately 22 miles south of Vale, Oregon, and roughly 70 miles west of Boise, Idaho. It consists of 442 federal mining claims, 3 patented lode claims, and various leased fee land surface and surface/mineral rights, all totaling approximately 9,300 acres.