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3) Summary of Significant Accounting Policies: Mineral Property Costs (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Mineral Property Costs

Mineral Property Costs

 

The Company is in the development stage and has not realized any revenues from its planned operations. It is primarily engaged in the acquisition and exploration of mineral properties. The Company will classify its mineral rights as tangible assets and accordingly acquisition costs will be initially capitalized as mineral property costs. Generally accepted accounting principles require that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In performing the review for recoverability, the Company will estimate the future cash flows expected to result from the use of the asset and its eventual disposition. If the sum of the undiscounted expected future cash flows is less than the carrying amount of the asset, an impairment loss will be recognized. Mineral exploration costs are expensed as incurred until commercially mineable deposits are determined to exist within a particular property. To date the Company has not established any proven or probable reserves.

 

The Company accounts for the initial measurement and subsequent accounting for obligations associated with the sale, abandonment, or other disposal of long-term tangible assets arising from the acquisition, construction or development and for normal operations of such assets. As of December 31, 2012 and 2011, the Company has not incurred any potential costs related to the retirement of mineral property interests since commercial mining operations have not commenced.