Mineral Properties and Interests

9 Months Ended

Sep. 30, 2023

Mineral Properties and Interests [Abstract]

NOTE 6 – MINERAL PROPERTIES AND INTERESTS

Mineral properties and interests as of September 30, 2023 and December 31, 2022 are as follows:

	September 30,			December 31,
	2023			2022
Kiewit and all other sites	$	3,700,000		$	3,700,000
JJS property		250,000			250,000
		3,950,000			3,950,000
Less accumulated amortization		(856,805	)		(852,000	)
		3,093,195			3,098,000
Asset retirement obligation assets
Kiewit Site		747,300			725,122
Kiewit Exploration		28,377			28,377
JJS property		31,016			31,016
Total		806,693			784,515
Less accumulated amortization		(266,976	)		(266,022	)
		539,717			518,493

Total	$	3,632,912		$	3,616,493

Due to the lack of production, there was no amortization of mineral properties and interests during the three months ended September 30, 2023 and 2022, respectively. Amortization of the mineral properties and interests based on total units of production was $5,759 and $63,159 for the nine months ended September 30, 2023 and 2022, respectively.

The Company is required to pay a 4% net smelter royalty (“NSR”) to Qenta, Inc. (“Qenta”) on revenues of gold and silver from the Kiewit gold property and the JJS properties. See Note 7.

Desert Hawk Gold Corp. 10-Q