| Schedule of Mineral Properties Acquired [Table Text Block] |
| |
|
|
September 30, 2012
|
|
|
December 31, 2011
|
|
| |
|
|
|
|
|
|
|
| |
Acquisition costs |
$ |
1,607,729
|
|
$ |
1,607,729
|
|
| |
Asset retirement obligation (Note 7) |
|
131,133
|
|
|
131,133
|
|
| |
Option payment received |
|
(881,440
|
) |
|
(881,440
|
) |
| |
Total |
$ |
857,422
|
|
$ |
857,422
|
|
|
| Schedule of Buccaneer Commitment to the Company [Table Text Block] |
| |
Item
|
Description
|
Status
|
| |
(i) |
Due diligence completed |
Completed |
| |
|
TSX accepts LOI |
Completed |
| |
(ii) |
Pay $100,000
to the Company
|
Received by the Company |
| |
|
Pay a further $325,000
to the Company
|
Received by the Company |
| |
(iii) |
Issue
1,000,000
Buccaneer shares to the Company
|
Received by the Company |
| |
(iv) |
Spend $4,425,000
on the properties over
5
years
|
In Progress |
| |
(v) |
Pay $300,000
to the Company for a VTEM survey
|
Received by the Company |
|