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9. Mineral Properties
 9 Months Ended
Sep. 30, 2020
Notes  
9. Mineral Properties

9.Mineral Properties 

Mineral properties at September 30, 2020 and December 31, 2019 consisted of the following:

 

 

 

September 30,

2020

 

December 31,

2019

Golden Chest

 

 

 

 

Mineral Property

$

1,539,002

$

1,524,002

Infrastructure

 

253,649

 

153,970

Total Golden Chest

 

1,792,651

 

1,677,972

New Jersey

 

248,289

 

248,289

McKinley

 

200,000

 

200,000

Butte Potosi

 

274,440

 

274,440

Alder Gulch

 

773,101

 

-

Less accumulated amortization

 

(45,658)

 

(37,683)

Total

$

3,242,823

$

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 which was deducted from the carrying value of the mineral property. As of September 30, 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.