Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Jun. 30, 2015
CURRENT ASSETS:
Cash	$ 1,346,337	$ 1,947,046
Prepaid Expense, Current	86,475	67,384
Total current assets	1,432,812	2,014,430
PROPERTY AND EQUIPMENT:
Equity Method Investments	0	0
OTHER ASSETS:
Other Assets, Noncurrent	0	0
TOTAL ASSETS	1,432,812	2,014,430
CURRENT LIABILITIES:
Accounts Payable, Current	19,646	24,876
Accrued Liabilities, Current	14,171	78,104
Total current liabilities	33,817	102,980
SHAREHOLDERS' EQUITY:
Common Stock, $0.01 par value, 30,000,000 shares authorized; 3,958,540 shares issued and outstanding at March 31, 2016; 3,876,206 shares issued and outstanding at June 30, 2015	39,585	38,762
Additional Paid in Capital, Common Stock	33,364,667	32,928,038
Accumulated deficit during exploration stage	(32,005,257)	(31,055,350)
SHAREHOLDERS’ EQUITY	1,398,995	1,911,450
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,432,812	$ 2,014,430

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).