Property and Equipment |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment [Text Block] |
4. Property and Equipment During the nine months ended September 30, 2026, the Company acquired two mineral leases covering approximately 7,137 acres of Idaho state land. The Company submitted a winning bid of $210,000 for the first lease, covering 3,675 acres, through a competitive auction process and incurred $3,174 of legal fees directly attributable to securing the leases. The Company also incurred $68,800 of claim-staking costs to establish additional mining claims. During the third quarter of 2026, the Company entered into a Mineral Exploration License Agreement covering the patented U.S. Standard and Lady Luck claims at the South Mountain Project. The agreement provides the Company with exploration rights over an initial ten-year term. The Company paid a one-time license fee of $15,000, which will be credited against the purchase price if the Company subsequently acquires the property, and incurred $5,530 of directly attributable legal and title costs, including costs related to the proposed purchase of the property. The Company capitalized these costs as mineral properties. Capitalized mineral-property costs related to these transactions totaled $302,504 as of September 30, 2026. Exploration and evaluation costs incurred under the leases and license agreement are expensed as incurred. In connection with the Idaho state mineral leases, the Company deposited $10,000 as collateral with the Idaho Department of Lands pursuant to collateral bond forms. The collateral deposits are recorded separately as long-term assets on the accompanying condensed consolidated balance sheet. During the third quarter of 2026, the Company purchased a vehicle for $10,091 and a portable bridge for $8,973 for use at the South Mountain Project. Both assets are depreciated using the straight-line method over five years. Depreciation expense was $645 for the three and nine months ended September 30, 2026. The Company's property and equipment are as follows:
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