v3.26.1
Mineral Properties
6 Months Ended
Jun. 30, 2026
Mineral Properties  
Mineral Properties

9. Mineral Properties

 

Mineral properties at June 30, 2026 and December 31, 2025 consisted of the following:

 

 

 

June 30,

2026

 

 

December 31,

2025

 

Golden Chest

 

 

 

 

 

 

Mineral Property

 

$6,991,750

 

 

$5,683,026

 

Infrastructure

 

 

13,101,683

 

 

 

9,594,667

 

Total Golden Chest

 

 

20,093,433

 

 

 

15,277,693

 

 

 

 

 

 

 

 

 

 

New Jersey

 

 

256,768

 

 

 

256,768

 

McKinley-Monarch

 

 

200,000

 

 

 

200,000

 

Potosi

 

 

150,385

 

 

 

150,385

 

Park Copper/Gold

 

 

78,000

 

 

 

78,000

 

Eastern Star

 

 

250,817

 

 

 

250,817

 

Oxford

 

 

40,000

 

 

 

40,000

 

Silver Prospect

 

 

202,405

 

 

 

-

 

Accumulated Amortization

 

 

(740,715)

 

 

(511,293)

 

 

 

 

 

 

 

 

 

Total

 

$20,531,093

 

 

$15,742,370

 

 

In the three-month period ended June 30, 2026, the Company purchased property adjacent to the Golden Chest Mine for $1,201,910. In the six-month period ended June 30, 2026, the Company purchased the Silver Prospect for $202,405.

 

For the three and six-month periods ended June 30, 2026 and 2025, amortization expense for mineral properties was as follows.

 

June 30, 2026

 

 

June 30, 2025

 

Three Months

 

 

Six Months

 

 

Three Months

 

 

Six Months

 

$

125,970

 

 

$229,423

 

 

$53,555

 

 

$87,894

 

 

For the three and six-month periods ended June 30, 2026 and 2025, interest expense was capitalized in association with infrastructure at the Golden Chest Mine as follows.

 

June 30, 2026

 

 

June 30, 2025

 

Three Months

 

 

Six Months

 

 

Three Months

 

 

Six Months

 

$

37,649

 

 

$79,214

 

 

$52,552

 

 

$95,939