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INCOME TAXES | 12 Months Ended
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Dec. 31, 2021
Major components of tax expense (income) [abstract] |
INCOME TAXES [Text Block] | 12. INCOME TAXES Deferred Income Tax Asset The tax effects of temporary differences between amounts recorded in the Company's accounts and the corresponding amounts as computed for income tax purposes gives rise to deferred tax assets and liabilities as follows:
|  | December 31, 2021 |  |  | December 31, 2020 |
Royalty interest | $ | (1,923 | ) | $ | (1,718 | )
Tax loss carryforwards |  | 5,765 |  |  | 1,828 |
Other |  | 67 |  |  | (110 | )
Total | $ | 3,909 |  | $ | - |
As at December 31, 2021 and 2020, no deferred tax assets were recognized on the following temporary differences as it was not probable that sufficient future taxable profit will be available to realize such assets:
|  | December 31, 2021 |  |  | December 31, 2020 |  |  | Expiry Date Range |
Tax loss carryforwards | $ | 56,145 |  | $ | 60,699 |  |  | 2026-2041 |
Exploration and evaluation assets |  | 10,264 |  |  | 4,094 |  |  | No expiry |
Other |  | 11,954 |  |  | 1,557 |  |  | No expiry |
Income Tax Expense
|  | December 31, 2021 |  |  | December 31, 2020 |
Current tax expense | $ | 343 |  | $ | 506 |
Deferred tax expense (recovery) |  | (3,898 | ) |  | 2,113 |
| $ | (3,555 | ) | $ | 2,619 |
The provision for income taxes differs from the amount calculated using the Canadian federal and provincial statutory income tax rates of 27% (2020 - 27%) as follows:
|  | December 31, 2021 |  |  | December 31, 2020 |
Expected income tax (recovery) | $ | (8,992 | ) | $ | (914 | )
Effect of lower tax rates in foreign jurisdictions |  | 793 |  |  | 31 |
Permanent differences |  | 2,829 |  |  | 876 |
Change in unrecognized deductible temporary differences and other |  | 1,542 |  |  | 2,552 |
Foreign exchange |  | 273 |  |  | 74 |
Total | $ | (3,555 | ) | $ | 2,619 |

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