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9. Mineral Properties
 3 Months Ended
Mar. 31, 2020
Notes  
9. Mineral Properties

9.Mineral Properties 

Mineral properties at March 31, 2020 and December 31, 2019 consisted of the following:

 

 

 

March 31,

2020

 

December 31,

2019

New Jersey

$

248,289

$

248,289

McKinley

 

200,000

 

200,000

Golden Chest

 

1,677,972

 

1,677,972

Butte Potosi

 

274,440

 

274,440

Alder Gulch

 

751,101

 

-

Less accumulated amortization

 

(40,167)

 

(37,683)

Total

$

3,111,635

$

2,363,018

The Company received a non-refundable down payment of $50,000 toward the sale of the McKinley property in the third quarter of 2019.  As of March 31 2020, negotiations with the interested parties involving this sale continue.

In December of 2019, the Company abandoned its Crown Point property and recognized a loss of $333,333.

In February 2020, the Company purchased property located in Alder Gulch in Shoshone County, Idaho which consists of 368 acres of real property, including patented mining claims with both surface and mineral rights.