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Note E - Summary of Significant Accounting Policies: Property, Equipment and Mineral Development (Policies)
12 Months Ended
Dec. 31, 2016
Policies  
Property, Equipment and Mineral Development

Property, Equipment and Mineral Development

 

Property and equipment are recorded at cost.  Maintenance and repair costs are charged to expense as incurred, and renewals and improvements that extend the useful life of assets are capitalized. Depreciation on property and equipment is computed using the straight-line method over the assets' estimated useful lives as follows:

 

Mining equipment              7-8 years

Vehicles                                5 years

Office equipment                4-10 years