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1. Organization and Description of Business (Details)
12 Months Ended
Dec. 31, 2016
Details  
Entity Incorporation, State Country Name State of Alaska
Entity Incorporation, Date of Incorporation Mar. 26, 1959
Substantial Doubt about Going Concern Going Concern

 

The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception and does not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without deferring payment on certain current liabilities and/or raising additional funds.

 

The Company currently has no historical recurring source of revenue and in 2016 received its first cash distribution from the joint venture (Note 4). If these distributions increase in future years and the Company profitably executes its business plan., its ability to continue as a going concern may improve and become less dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include the profitable exploitation of its mining properties and financing the Company’s future operations through sales of its common stock and/or debt.

 

Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Substantial Doubt about Going Concern, Management's Evaluation The Company currently has no historical recurring source of revenue and in 2016 received its first cash distribution from the joint venture (Note 4). If these distributions increase in future years and the Company profitably executes its business plan., its ability to continue as a going concern may improve and become less dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. The Company’s plans for the long-term return to and continuation as a going concern include the profitable exploitation of its mining properties and financing the Company’s future operations through sales of its common stock and/or debt.