Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Jun. 30, 2016
CURRENT ASSETS:
Cash	$ 1,140,566	$ 1,254,489
Prepaid Expense, Current	29,743	58,165
Total current assets	1,170,309	1,312,654
PROPERTY AND EQUIPMENT:
Equity Method Investments	0.0	0
OTHER ASSETS:
Other Assets, Noncurrent	0	0
TOTAL ASSETS	1,170,309	1,312,654
CURRENT LIABILITIES:
Accounts Payable, Current	54,538	20,854
Accrued Liabilities, Current	244,161	92,884
Total current liabilities	298,699	113,738
SHAREHOLDERS' EQUITY:
Common Stock, $0.01 par value, 30,000,000 shares authorized; 4,073,403 shares issued and outstanding at September 30, 2016; 3,958,540 shares issued and outstanding at June 30, 2016	40,734	39,585
Additional Paid in Capital, Common Stock	34,062,094	33,434,899
Accumulated deficit during exploration stage	(33,231,218)	(32,275,568)
SHAREHOLDERS’ EQUITY	871,610	1,198,916
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,170,309	$ 1,312,654

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).