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Related Party Transactions
 3 Months Ended
Mar. 31, 2012
Related Party Transactions [Text Block]

2.              Related Party Transactions

The Company jointly owns with Marathon Gold USA (MUSA) and acts as the operator of the Golden Chest LLC (GC LLC). Accounts receivable are a part of normal operations which include operating costs, payroll, and drilling. As of March 31, 2012, a related party account receivable existed with MUSA and GC LLC for $185,068. In addition, income, expense, and equity in loss items for the three month period ended March 31, 2012 related to MUSA and GC LLC were as follows:

• Drilling and exploration contract income $      413,044  
• Joint Venture Management fees income 23,242  
• Drilling and exploration contract expense 229,886  
• Equity in loss of Golden Chest LLC 403,940  

Engineering services income includes engineering services provided to United Mine Services (UMS). UMS holds the noncontrolling interest in the Company's New Jersey Mill Joint Venture. Engineering services to UMS in the three period ended March 31, 2012 were $39,900. As of March 31, 2012, a related party account receivable existed with the Mill Joint Venture and UMS for $17,929. As of March 31, 2012, $137,662 was recorded as an account payable to Mine Fabrication and Machine, a wholly owned subsidiary of UMS, a related party. $1,500 is payable quarterly by the Company to Mine Systems Design, a related party, for office rent. The first quarter's office rent to Mine System Design was recorded as a related party account payable on March 31, 2012.