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PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract] |
PROPERTY, PLANT AND EQUIPMENT |
7. | PROPERTY, PLANT AND EQUIPMENT
The table below sets out costs and accumulated amortization as at September 30, 2022: SUMMARY OF PROPERTY, PLANT AND EQUIPMENT
|  | Vehicles |  |  | Furniture |  |  | Leasehold improvement |  |  | Buildings |  |  | Exploration Equipment |  |  | Computer Equipment and Software |  |  | Total |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance – December 31, 2021 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Purchases |  |  | 234,407 |  |  |  | 19,405 |  |  |  | 96,231 |  |  |  | 533,807 |  |  |  |  |  |  |  |  |  |  |  | 883,850 |
Deemed acquisition from NAN |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,279 |  |  |  | 1,950 |  |  |  | 13,229 |
Balance – September 30, 2022 |  |  | 234,407 |  |  |  | 19,405 |  |  |  | 96,231 |  |  |  | 533,807 |  |  |  | 11,279 |  |  |  | 1,950 |  |  |  | 897,079 |
Property, Plant and Equipment Equipment is stated at historical cost less accumulated amortization and accumulated impairment losses. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of a significant replaced part is derecognized. All other repairs and maintenance are charged to the condensed interim consolidated statements of comprehensive loss during the financial period in which they are incurred. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Depreciation and amortization are calculated on a straight-line method to charge the cost, less residual value, of the assets to their residual values over their estimated useful lives. The depreciation and amortization rate applicable to each category of equipment is as follows: SUMMARY OF DEPRECIATION AND AMORTIZATION
Equipment |  | Depreciation rate
Vehicles |  | 30%
Furniture |  | 20%
Leasehold improvement |  | 10%

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- Definition The entire disclosure for property, plant and equipment. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2022-03-24 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IAS16_g73-79__IAS16_g73-79_TI -URIDate 2022-03-24 + Details
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