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Income Taxes
 12 Months Ended
Dec. 31, 2011
Income Taxes [Text Block]

8.            Income Taxes

The Company did not recognize a provision (benefit) for income taxes for the years ended December 31, 2011 and 2010.

At December 31, 2011 and 2010, the Company had deferred tax assets principally arising from the net operating loss carry forwards for income tax purposes multiplied by an expected rate of 40%. As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the deferred tax assets, a valuation allowance equal to the deferred tax asset has be established at December 31, 2011 and December 31, 2010. The significant components of the deferred tax asset at December 31, 2011 and 2010 were as follows:

    December 31,     December 31 ,  
    2011     2010  
Deferred tax asset            
   Net operating loss carry forward $  2,985,000   $  3,041,000  
   Exploration costs   107,000     99,000  
Total deferred tax assets   3,092,000     3,140,000  
   Valuation allowance   (2,661,000 )   (2,742,000 )
Net   431,000     398,000  
Deferred tax liabilities            
   Development   (29,000 )   (20,000 )
   Property, plant, and equipment   (402,000 )   (378,000 )
Total deferred tax liabilities   (431,000 )   (398,000 )
Net deferred tax asset $     $    

At December 31, 2011 and 2010 the Company had net operating loss carry forwards of approximately $7,462,000 and $7,602,000 respectively for both federal and the state of Idaho, which expire in the years 2016 through 2030.

The income tax benefit shown in the financial statements for the years ended December 31, 2011 and 2010 differs from the statutory rate as follows:

    December 31,     December 31,  
    2011     2010  
Provision (benefit) at statutory rate $  26,000   $  (184,000 )
State taxes, net of federal taxes   6,000     (41,000 )
Permanent differences   49,000     -  
Increase (decrease) in valuation allowance   (81,000 )   225,000  
Total provision (benefit) $  0   $  0  

We have determined that we are open to examination of our income tax filings in the United States and state jurisdictions for the 2008 through 2010 tax years. In the event that the Company is assessed penalties and or interest, penalties will be charged to other operating expense and interest will be charged to interest expense. We have recognized that certain tax positions taken in the 2008 through 2010 tax years could result in minor adjustments to our exploration and development costs for tax purposes. However, these adjustments would not result in a tax provision, only revision to the net operating loss carry forward balance.