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Exploration and Evaluation Assets (Tables) | 9 Months Ended
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Sep. 30, 2020
EXPLORATION AND EVALUATION ASSETS |
Schedule of Exploration and Evaluation Assets | (All amounts in table are expressed in thousands of Canadian dollars)
|  | Canada |  |  | Greenland |  |  |  |
|  | Post Creek Property |  |  | Halcyon Property |  |  | Quetico Claims |  |  | Enid Creek |  |  | Lingman Lake |  |  | Maniitsoq Property |  |  | Total |
Acquisition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2019 |  |  | 298 |  |  |  | 230 |  |  |  | 42 |  |  |  | 83 |  |  |  | 14 |  |  |  | 42 |  |  |  | 709 |
Acquisition costs – cash |  |  | 10 |  |  |  | 8 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |  |  |  | 22 |
Balance, September 30, 2020 |  |  | 308 |  |  |  | 238 |  |  |  | 42 |  |  |  | 83 |  |  |  | 14 |  |  |  | 46 |  |  |  | 731 |
Exploration |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2019 |  |  | 1,498 |  |  |  | 233 |  |  |  | 39 |  |  |  | 33 |  |  |  | 13 |  |  |  | 36,108 |  |  |  | 37,924 |
Administration |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16 |  |  |  | 16 |
Property maintenance |  |  | 6 |  |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 17 |  |  |  | 28 |
Drilling |  |  | - |  |  |  | - |  |  |  | 6 |  |  |  | 166 |  |  |  | - |  |  |  | - |  |  |  | 172 |
Geology |  |  | 19 |  |  |  | 9 |  |  |  | 69 |  |  |  | 83 |  |  |  | - |  |  |  | 78 |  |  |  | 258 |
Geophysics |  |  | 2 |  |  |  | 1 |  |  |  | 28 |  |  |  | 72 |  |  |  | - |  |  |  | 3 |  |  |  | 106 |
Helicopter |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 8 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (437 | ) |  |  | - |  |  |  | - |  |  |  | (437 | )
|  |  | 27 |  |  |  | 15 |  |  |  | 103 |  |  |  | (116 | ) |  |  | - |  |  |  | 122 |  |  |  | 151 |
Balance, September 30, 2020 |  |  | 1,525 |  |  |  | 248 |  |  |  | 142 |  |  |  | (83 | ) |  |  | 13 |  |  |  | 36,230 |  |  |  | 38,075 |
Total, September 30, 2020 |  |  | 1,833 |  |  |  | 486 |  |  |  | 184 |  |  |  | - |  |  |  | 27 |  |  |  | 36,276 |  |  |  | 38,806 |
(All amounts in table are expressed in thousands of Canadian dollars)
|  | Canada |  | US |  |  | Greenland |  |  |  |
|  | Post Creek Property |  |  | Halcyon Property |  |  | Quetico Claims |  |  | Lingman Lake |  |  | Enid Creek |  |  | Section 35 Property |  |  | Maniitsoq Property |  |  | Total |
Acquisition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2018 |  |  | 288 |  |  |  | 222 |  |  |  | 42 |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 42 |  |  |  | 602 |
Acquisition costs – cash |  |  | 10 |  |  |  | 8 |  |  |  | - |  |  |  | 14 |  |  |  | 3 |  |  |  | 1 |  |  |  | - |  |  |  | 36 |
Balance, September 30 2019 |  |  | 298 |  |  |  | 230 |  |  |  | 42 |  |  |  | 14 |  |  |  | 3 |  |  |  | 9 |  |  |  | 42 |  |  |  | 636 |
Exploration |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2018 |  |  | 1,431 |  |  |  | 209 |  |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 62,215 |  |  |  | 63,877 |
Administration |  |  | 1 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9 |  |  |  | 11 |
Corporate social responsibility |  |  | 2 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3 |
Property maintenance |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 17 |  |  |  | 17 |
Drilling |  |  | 29 |  |  |  | - |  |  |  | 12 |  |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 203 |  |  |  | 249 |
Environmental, health and safety |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 8 |  |  |  | 8 |
Geology |  |  | 20 |  |  |  | 10 |  |  |  | - |  |  |  | 5 |  |  |  | - |  |  |  | 2 |  |  |  | 117 |  |  |  | 154 |
Geophysics |  |  | 1 |  |  |  | 1 |  |  |  | 4 |  |  |  | 2 |  |  |  | - |  |  |  | 1 |  |  |  | 28 |  |  |  | 37 |
|  |  | 53 |  |  |  | 13 |  |  |  | 16 |  |  |  | 12 |  |  |  | - |  |  |  | 3 |  |  |  | 382 |  |  |  | 479 |
Balance, September 30 ,2019 |  |  | 1,484 |  |  |  | 222 |  |  |  | 38 |  |  |  | 12 |  |  |  | - |  |  |  | 3 |  |  |  | 62,597 |  |  |  | 64,356 |
Total, September 30, 2019 |  |  | 1,782 |  |  |  | 452 |  |  |  | 80 |  |  |  | 26 |  |  |  | 3 |  |  |  | 12 |  |  |  | 62,639 |  |  |  | 64,994 |
Schedule of Exploration and Evaluation Assets Consideration | Consideration is as follows: (All amounts in table are expressed in thousands of Canadian dollars)
|  | Acquisition costs |  | Exploration expenditures
Within 5 days of TSXV approval (received on October 24, 2019) |  | $25 cash (paid) and 300,000 post-consolidated common shares (issued) |  | -
On or before September 25, 2020 |  | $100 cash |  | Aggregate of at least $500
On or before September 25, 2021 |  | $200 cash |  | Aggregate of at least an additional $1,000
On or before September 25, 2022 |  | $300 cash |  | Aggregate of at least an additional $1,000
On or before September 25, 2023 |  | $400 cash |  | Aggregate of at least an additional $1,000
On or before September 25, 2024 |  | $500 cash |  | Aggregate of at least an additional $1,000

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