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9. Mineral Properties
 9 Months Ended
Sep. 30, 2021
Notes  
9. Mineral Properties

9.Mineral Properties 

 

Mineral properties at September 30, 2021 and December 31, 2020 consisted of the following:

 

 

September 30,

2021

 

December 31,

2020

Golden Chest

 

 

 

 

Mineral Property

$

1,575,832

$

1,539,001

Infrastructure

 

978,842

 

468,669

Total Golden Chest

 

2,554,674

 

2,007,670

New Jersey

 

248,289

 

248,289

McKinley-Monarch

 

200,000

 

200,000

Butte Potosi

 

274,440

 

274,440

Alder Gulch

 

2,473,066

 

773,101

Park Copper

 

78,000

 

-

Less accumulated amortization

 

(59,998)

 

(48,267)

Total

$

5,768,471

$

3,455,233

 

For the three and nine-months periods ended September 30, 2021 $16,029 and $42,545, respectively of interest expense was capitalized in association with the ramp access project at the Golden Chest. No interest was capitalized in 2020.

 

In February 2021 the Company paid $10,000 and in April of 2021 the Company paid an additional $1,689,965 to complete the purchase of approximately 508 acres of land adjacent to the Alder Gulch property for a total of $1,699,965 in cash.

 

In August 2021 the Company paid $78,000 in cash for 100 acres of patented mineral property in Shoshone County referred to as Park Copper.