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Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents (Note 4)	$ 60,785,602	$ 61,822,137
Marketable securities (Note 5)	180,115	177,945
Income tax receivable (Note 10)	7,593,479	10,798,291
Prepaid expense and other	1,069,999	747,872
Total current assets	69,629,195	73,546,245
Property, plant and equipment, net (Note 6)	6,404,665	6,470,722
Deferred tax asset (Note 10)	710,190
Right of use asset	209,348	251,984
Total assets	76,953,398	80,268,951
Current Liabilities:
Accounts payable and accrued expenses (Note 3)	1,020,160	728,790
Lease liability	89,119	85,516
Contingent value rights (Note 3)	39,512
Total current liabilities	1,148,791	814,306
Lease liability	124,437	169,911
Total liabilities	1,273,228	984,217
SHAREHOLDERS' EQUITY
Common shares (Note 11)	302,469,647	302,469,647
Contributed surplus	20,625,372	20,625,372
Stock options (Note 9)	20,752,893	20,752,893
Accumulated deficit	(268,167,742)	(264,563,178)
Total shareholders' equity	75,680,170	79,284,734
Total liabilities and shareholders' equity	$ 76,953,398	$ 80,268,951

Consolidated Balance Sheets (Parenthetical) - shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred Sttock, issued	0	0
Common stock, issued	99,395,048	99,395,048
Common stock, outstanding	99,395,048	99,395,048

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
INCOME (LOSS)
Interest income	$ 56,033	$ 440,415	$ 258,350	$ 971,053
Gain (loss) on marketable equity securities	46,896	(86,439)	2,170	(100,565)
Foreign currency gain (loss)	19,916	293,977	(20,705)	584,243
Total Other Income	122,845	647,953	239,815	1,454,731
EXPENSES
Corporate general and administrative (Note 3)	1,070,954	1,291,411	2,284,367	2,448,259
Contingent value rights (Note 3)	6,168		38,822
Siembra Minera Project costs (Note 7)	350,844	2,431,298	727,886	4,269,160
Exploration costs	3,208	2,728	3,208	2,728
Legal and accounting	170,371	518,866	357,503	899,228
Arbitration and settlement (Note 3)	630,793	13,570	908,279	97,672
Equipment holding costs	125,931	108,689	234,504	216,651
Total Expense	2,358,269	4,366,562	4,554,569	7,933,698
Net loss before income tax	(2,235,424)	(3,718,609)	(4,314,754)	(6,478,967)
Income tax benefit (Note 10)	112,832		710,190
Net loss and comprehensive loss for the period	$ (2,122,592)	$ (3,718,609)	$ (3,604,564)	$ (6,478,967)
Net loss per share, basic and diluted	$ (0.02)	$ (0.04)	$ (0.04)	$ (0.07)
Weighted average common shares outstanding, basic and diluted	99,395,048	99,395,048	99,395,048	99,395,048

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Equity Option [Member]	Retained Earnings [Member]
Beginning balance, value at Dec. 31, 2018	$ 378,009,884	$ 20,625,372	$ 20,721,850	$ (251,416,280)
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2018	99,395,048
Net loss for the period				(2,760,358)
Ending balance, value at Mar. 31, 2019	378,009,884	20,625,372	20,752,893	(254,176,638)
Stock option compensation (Note 9)			31,043
Beginning balance, value at Dec. 31, 2018	$ 378,009,884	20,625,372	20,721,850	(251,416,280)
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2018	99,395,048
Ending balance, value at Jun. 30, 2019	$ 302,469,647	20,625,372	20,752,893	(257,895,247)
Beginning balance, value at Mar. 31, 2019	378,009,884	20,625,372	20,752,893	(254,176,638)
Net loss for the period				(3,718,609)
Ending balance, value at Jun. 30, 2019	302,469,647	20,625,372	20,752,893	(257,895,247)
Return of capital (Note 11)	(75,540,237)
Beginning balance, value at Dec. 31, 2019	$ 302,469,647	20,625,372	20,752,893	(264,563,178)
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2019	99,395,048
Net loss for the period				(1,481,972)
Ending balance, value at Mar. 31, 2020	302,469,647	20,625,372	20,752,893	(266,045,150)
Beginning balance, value at Dec. 31, 2019	$ 302,469,647	20,625,372	20,752,893	(264,563,178)
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2019	99,395,048
Ending balance, value at Jun. 30, 2020	$ 302,469,647	20,625,372	20,752,893	(268,167,742)
Beginning balance, value at Mar. 31, 2020	302,469,647	20,625,372	20,752,893	(266,045,150)
Net loss for the period				(2,122,592)
Ending balance, value at Jun. 30, 2020	$ 302,469,647	$ 20,625,372	$ 20,752,893	$ (268,167,742)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net loss for the period	$ (2,122,592)	$ (3,718,609)	$ (3,604,564)	$ (6,478,967)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation				31,043
Depreciation	33,028	53,271	66,057	65,565
Loss (gain) on marketable equity securities	(46,896)	86,439	(2,170)	100,565
Deferred tax	(112,832)		(710,190)
Changes in non-cash working capital:
Decrease in income tax receivable			3,204,812
Net decrease (increase) in prepaid expense and other	(733,113)	(1,082,546)	(322,127)	70,763
Net increase in payables and accrued expenses	50,679	1,700,363	331,647	2,069,506
Net cash used in operating activities	(2,931,726)	(2,961,082)	(1,036,535)	(4,141,525)
Cash Flows from Investing Activities:
Purchase of property, plant and equipment		(2,235)		(3,485)
Net cash used in investing activities		(2,235)		(3,485)
Cash Flows from Financing Activities:
Return of capital		(75,540,237)		(75,540,237)
Net cash used in financing activities		(75,540,237)		(75,540,237)
Change in Cash and Cash Equivalents:
Net decrease in cash and cash equivalents	(2,931,726)	(78,503,554)	(1,036,535)	(79,685,247)
Cash and cash equivalents - beginning of period	63,717,328	146,464,660	61,822,137	147,646,353
Cash and cash equivalents - end of period	$ 60,785,602	$ 67,961,106	$ 60,785,602	$ 67,961,106

The Company and Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Business Description and Accounting Policies [Text Block]

Note 1. The Company and Significant Accounting Policies:

Gold Reserve Inc. ("Gold Reserve", the "Company", "we", "us", or "our") is engaged in the business of acquiring, exploring and developing mining projects and was incorporated in 1998 under the laws of the Yukon Territory, Canada and continued to Alberta, Canada in September 2014.

Gold Reserve Inc. is the successor issuer to Gold Reserve Corporation which was incorporated in 1956. A significant portion of our recent activities relate to the execution of the July 2016 settlement agreement, (as amended, the "Settlement Agreement") with the Bolivarian Republic of Venezuela ("Venezuela") in regards to the payment of the Award (as defined herein) and the acquisition of our Mining Data by Venezuela, identifying our legal options associated with the collection of the unpaid balance of the Award and developing our future operational strategies associated with post-sanctions development of the Siembra Minera Project.

The U.S. and Canadian governments have imposed various sanctions targeting Venezuela (the "Sanctions"). The Sanctions implemented by the U.S. government generally block all property of the Venezuelan government and state-owned/controlled entities such as Siembra Minera. In addition, U.S. Sanctions prohibit U.S. persons from dealing with Specially Designated Nationals ("SDNs") and targets corruption in, among other identified sectors, the gold sector of the Venezuela economy. The Sanctions implemented by the Canadian government generally include asset freezes and impose prohibitions on dealings with certain named Venezuelan officials under the Special Economic Measures (Venezuela) Regulations of the Special Economic Measures Act and the Justice for Victims of Corrupt Foreign Officials Regulations of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law). In addition, on March 26, 2020, the U.S. Government indicted Venezuelan President Nicolas Maduro and a number of key associates for drug trafficking. (See Note 3, Arbitral Award, Settlement Agreement and Mining Data Sale and Note 7, Empresa Mixta Ecosocialista Siembra Minera, S.A.).

Basis of Presentation and Principles of Consolidation. These interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). The statements principally include the accounts of the Company, Gold Reserve Corporation and three Barbadian subsidiaries one of which was formed to hold our equity interest in Siembra Minera which is beneficially owned 55% by a Venezuelan state-owned entity and 45% by Gold Reserve. Our investment in Siembra Minera is accounted for as an equity investment. All subsidiaries are wholly owned. All intercompany accounts and transactions have been eliminated on consolidation. Our policy is to consolidate those subsidiaries where control exists. We have only one operating segment, the exploration and development of mineral properties. As these unaudited interim consolidated financial statements do not contain all of the disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the annual financial statements and the related notes included in our Annual Report on Form 40-F for the year ended December 31, 2019.

Cash and Cash Equivalents. We consider short-term, highly liquid investments purchased with an original maturity of three months or less to be cash equivalents for purposes of reporting cash equivalents and cash flows. The cost of these investments approximates fair value. We manage the exposure of our cash and cash equivalents to credit risk by diversifying our holdings into various major financial institutions.

Exploration and Development Costs. Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Mineral property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Mineral properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.

Property, Plant and Equipment Property, plant and equipment is recorded at cost and are depreciated on a straight-line basis over their estimated useful lives, except for equipment not yet placed into use. Included in property, plant and equipment is certain equipment, relating to the Brisas Project that is not being depreciated as it is not in use. The ultimate recoverable value of this equipment may be different than management's current estimate. We have additional property, plant and equipment which are recorded at cost less accumulated depreciation. Replacement costs and major improvements are capitalized. Maintenance and repairs are charged to expense as incurred. The cost and accumulated depreciation of assets retired or sold are removed from the accounts and any resulting gain or loss is reflected in operations. Furniture, office equipment and leasehold improvements are depreciated using the straight-line method over five to ten years. The remaining property, plant and equipment are fully depreciated.

Impairment of Long-Lived Assets. We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If the sum of the expected future net cash flows to be generated from the use or eventual disposition of a long-lived asset (undiscounted and without interest charges) is less than the carrying amount of the asset, an impairment loss is recognized based on a determination of the asset's fair value. Fair value is generally determined by discounting estimated cash flows based on market participant expectations of those future cash flows, or applying a market approach that uses market prices and other relevant information generated by market transactions involving comparable assets.

Foreign Currency. The U.S. dollar is our (and our foreign subsidiaries') functional currency. Monetary assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the rates of exchange in effect at the balance sheet dates. Non-monetary assets and liabilities are translated at historical rates and revenue and expense items are translated at average exchange rates during the reporting period, except for depreciation which is translated at historical rates. Translation gains and losses are included in the statement of operations.

Stock Based Compensation. We maintain an equity incentive plan which provides for the grant of stock options to purchase Class A common shares. We use the fair value method of accounting for stock options. The fair value of options granted to employees is computed using the Black-Scholes method as described in Note 9 and is expensed over the vesting period of the option. For non-employees, the fair value of stock-based compensation is recorded as an expense over the vesting period or upon completion of performance. Consideration paid for shares on exercise of stock options, in addition to the fair value attributable to stock options granted, is credited to capital stock. Stock options granted under the plan become fully vested and exercisable upon a change of control.

Income Taxes. We use the liability method of accounting for income taxes. Deferred tax assets and liabilities are determined based on the differences between the tax basis of assets and liabilities and those amounts reported in the financial statements. The deferred tax assets or liabilities are calculated using the enacted tax rates expected to apply in the periods in which the differences are expected to be settled. Deferred tax assets are recognized to the extent that they are considered more likely than not to be realized.

Use of Estimates. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Net Income (Loss) Per Share. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of Class A common shares outstanding during each period. Diluted net income per share reflects the potentially dilutive effects of outstanding stock options. In periods in which a loss is incurred, the effect of potential issuances of shares under stock options and convertible notes would be anti-dilutive, and therefore basic and diluted losses per share are the same in those periods.

Marketable Securities. The Company's marketable securities consist of debt securities that were classified as held for trading, and equity securities. Equity securities are reported at fair value with changes in fair value included in the statement of operations. Trading debt securities are reported at fair value with any changes in fair value included in the statement of operations.

Equity accounted investments. Investments in incorporated entities in which the Company has the ability to exercise significant influence over the investee are accounted for by the equity method.

Financial Instruments. Marketable securities are measured at fair value at each reporting date, with the change in value recognized in the statement of operations as a gain or loss. Cash and cash equivalents, prepaid expense, deposits, advances and receivables are accounted for at amortized cost which approximates fair value. Accounts payable and contingent value rights are recorded at amortized cost which approximates fair value.

New Accounting Policies

6 Months Ended

Jun. 30, 2020

New Accounting Policies

[custom:NewAccountingPoliciesTextBlock]

Note 2. New Accounting Policies:

Recently issued accounting pronouncements

In January 2020, the FASB issued ASU 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815). This update is intended to clarify certain interactions between Topics which guide the accounting for certain equity securities and investments under the equity method of accounting. These amendments improve current GAAP by reducing diversity in practice and increasing comparability of the accounting for these interactions. This update is effective for us commencing with the annual period beginning after December 15, 2020, including interim periods within that year. We do not expect the adoption of this standard will have a significant impact on our financial statements.

Arbitral Award, Settlement Agreement and Mining Data Sale

6 Months Ended

Jun. 30, 2020

Arbitral Award Settlement Agreement And Mining Data Sale

[custom:ArbitralAwardSettlementAgreementAndMiningDataSaleTextBlock]

Note 3. Arbitral Award, Settlement Agreement and Mining Data Sale:

In October 2009 we initiated a claim (the "Brisas Arbitration") under the Additional Facility Rules of the International Centre for the Settlement of Investment Disputes ("ICSID") to obtain compensation for the losses caused by the actions of Venezuela that terminated our previous mining project known as the "Brisas Project." On September 22, 2014, we were granted an Arbitral Award (the "Award") totaling $740.3 million.

In July 2016, we signed the Settlement Agreement, subsequently amended, whereby Venezuela agreed to pay us a total of approximately $1.032 billion which is comprised of $792 million to satisfy the Award (including interest) and $240 million for the purchase of our mining data related to the Brisas Project (the "Mining Data")) and was to be settled in a series of payments ending on or before June 15, 2019. As agreed, the first $240 million received by Gold Reserve from Venezuela has been recognized as proceeds from the sale of the Mining Data.

To date, the Company has received payments of approximately $254 million pursuant to the Settlement Agreement (excluding $21.5 million that remains in the Trust Account. See Note 4, Cash and Cash Equivalents). The remaining unpaid amount due from Venezuela pursuant to the Settlement Agreement, which is now delinquent, totals approximately $893 million (including interest of approximately $115 million) as of the date of the Interim Consolidated Financial Statements.

In addition to other constraints, the Sanctions restrict the Company from working with those Venezuelan government officials responsible for the payment and transfer of funds associated with the Settlement Agreement which adversely impacts our ability to collect the remaining balance of the Award plus interest and/or amounts due pursuant to the Settlement Agreement from Venezuela.

We have Contingent Value Rights ("CVRs") outstanding that entitle the holders to an aggregate of 5.466% of certain proceeds associated with the collection of the Award, sale of Mining Data or an enterprise sale (the "Proceeds"), less amounts for certain specified obligations, as well as a bonus plan as described below. As of June 30, 2020, the total cumulative estimated obligation due pursuant to the terms of the CVR from the sale of the Mining Data and collection of the Award was approximately $10.0 million, of which approximately $39 thousand remains payable to CVR holders.

We maintain a bonus plan (the "Bonus Plan") which is intended to compensate the participants, including executive officers, employees, directors and consultants for their past and present contributions to the Company. The bonus pool under the Bonus Plan is comprised of the gross proceeds collected or the fair value of any consideration realized less applicable taxes multiplied by 1.28% of the first $200 million and 6.4% thereafter. As of June 30, 2020, the total cumulative estimated obligation pursuant to the terms of the Bonus Plan from the sale of the Mining Data and collection of the Award was approximately $4.4 million, of which approximately $45 thousand remains payable to Bonus Plan participants.

In March 2020, the U.S. Congress passed legislation which allows companies to carryback net operating losses incurred in 2018, 2019 and 2020 to offset income earned in prior years. In response to this legislation, management reduced its estimate of the income tax due on amounts received in 2018 from the sale of Mining Data and collection of the Award. The effect of this change in estimate was to increase the net proceeds from the sale of the Mining Data and collection of the Award subject to the CVR and the Bonus Plan and as a result, the Company recorded an increase in its obligation to the CVR holders and Bonus Plan participants by approximately $39 thousand and $45 thousand, respectively.

Due to U.S. and Canadian Sanctions and the uncertainty of transferring the remaining cash held in the Trust Account to bank accounts outside of Venezuela, management only considers those funds received by the Company into its North American bank accounts as funds available for purposes of the CVR and Bonus Plan cash distributions.

Following receipt, if any, of additional funds pursuant to the Settlement Agreement and after applicable payments to CVR holders and Bonus Plan participants, we expect to distribute to our shareholders a substantial majority of any remaining amounts, subject to applicable regulatory requirements and retaining sufficient reserves for operating expenses, contractual obligations, accounts payable and income taxes, and any obligations arising as a result of the collection of the remaining amount owed by Venezuela (See Note 11, Return of Capital).

Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2020

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents Disclosure [Text Block]

Note 4. Cash and Cash Equivalents:

Schedule of Cash and Cash Equivalents		June 30,		December 31,
		2020		2019
Bank deposits	$	29,052,100	$	31,499,893
Short term investments		31,733,502		30,322,244
Total	$	60,785,602	$	61,822,137

Short term investments include money market funds and US treasury bills which mature in three months or less.

Payments made by Venezuela associated with the Settlement have been deposited into a trust account (the "Trust Account") for the benefit of the Company at Banco de Desarrollo Económico y Social de Venezuela ("Bandes Bank"), a Venezuelan state-owned development bank. As Bandes Bank has been designated as an SDN, in 2018 the Company recorded an impairment loss on the remaining balance in the account and considers the Trust Account to be blocked property and not recoverable for accounting purposes. The Trust Account and the approximately $21.5 million therein will remain blocked property until the U.S. government delists Bandes Bank as an SDN or issues a specific license to the Company to unblock this property.

Marketable Securities

6 Months Ended

Jun. 30, 2020

Investments, All Other Investments [Abstract]

Financial Instruments Disclosure [Text Block]

Note 5. Marketable Securities:

		June 30,		December 31,
Schedule of Marketable Securities Value		2020		2019
Equity securities
Fair value at beginning of period	$	177,945	$	287,638
Increase (decrease) in fair value		2,170		(109,693)
Fair value at balance sheet date	$	180,115	$	177,945

Marketable equity securities are classified as trading securities and accounted for at fair value, based on quoted market prices with unrealized gains or losses recorded in the Consolidated Statements of Operations.

Accounting Standards Codification ("ASC") 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: Level 1 inputs are quoted prices in active markets for identical assets or liabilities, Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability and Level 3 inputs are unobservable inputs for the asset or liability that reflect the entity's own assumptions. The fair values of the Company's marketable equity securities as at the balance sheet date are based on Level 1 inputs.

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 6. Property, Plant and Equipment:

				Accumulated
		Cost		Depreciation		Net
June 30, 2020
Machinery and equipment	$	5,609,567	$	–	$	5,609,567
Furniture and office equipment		479,579		(373,682)		105,897
Transportation equipment		491,025		(181,930)		309,095
Leasehold improvements		51,658		(21,552)		30,106
Mineral property		350,000		–		350,000
	$	6,981,829	$	(577,164)	$	6,404,665

				Accumulated
		Cost		Depreciation		Net
December 31, 2019
Machinery and equipment	$	5,609,567	$	–	$	5,609,567
Furniture and office equipment		479,579		(360,224)		119,355
Transportation equipment		491,025		(132,827)		358,198
Leasehold improvements		51,658		(18,056)		33,602
Mineral property		350,000		–		350,000
	$	6,981,829	$	(511,107)	$	6,470,722

Machinery and equipment consists of infrastructure and milling equipment originally intended for use on the Brisas Project. We evaluate our equipment to determine whether events or changes in circumstances have occurred that may indicate that the carrying amount may not be recoverable. We regularly obtain comparable market data for similar equipment as evidence that fair value less cost to sell is in excess of the carrying amount. No impairment write-downs of property, plant and equipment were recorded during the six months ended June 30, 2020 and 2019.

Empresa Mixta Ecosocialista Siembra Minera, S.A

6 Months Ended

Jun. 30, 2020

Empresa Mixta Ecosocialista Siembra Minera S.a

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Note 7. Empresa Mixta Ecosocialista Siembra Minera, S.A.:

In October 2016, together with an affiliate of the government of Venezuela, we established Siembra Minera. The primary purpose of this entity is to develop the Siembra Minera Project, as defined below.

Siembra Minera is beneficially owned 55% by Corporacion Venezolana de Mineria, S.A., a Venezuelan government corporation, and 45% by Gold Reserve. Siembra Minera (pursuant to the agreement which governs the formation and operation of Siembra Minera) holds certain gold, copper, silver and other strategic mineral rights (primarily comprised of the Brisas and Las Cristinas concessions) contained within Bolivar State comprising the Siembra Minera Project (which has a twenty year term with two ten year extensions) and is, among other things authorized, via current or future Presidential Decrees and Ministerial resolutions, to carry on its business, pay a net smelter return royalty to Venezuela on the future sale of gold, copper, silver and any other strategic minerals over the life of the Siembra Minera Project and provide net profits participation based on the sales price of gold per ounce. A number of authorizations, which still have not been provided by the current administration, are critical to the future operation and economics of the Siembra Minera Project. Pursuant to the Settlement Agreement, both parties will retain their respective interest in Siembra Minera in the event all of the agreed upon Settlement Agreement payments are not made by Venezuela.

On March 16, 2018, the Company announced the completion of a technical report for the Preliminary Economic Assessment ("PEA") for the Siembra Minera Project in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects which included, among other information, resource estimates, pit design, mine plan, flowsheet design, design criteria, project layout, infrastructure requirements, capital and operating estimates. The Company has directly incurred the costs associated with the Siembra Minera Project outside of Siembra Minera, which beginning in 2016 through June 30, 2020, amounted to a total of approximately $20.2 million. The Siembra Minera Project expenditures primarily include costs associated with the completion of the PEA that included a number of engineering, environmental and social third party advisors as well as costs associated with a number of social work programs in the vicinity of the Siembra Minera Project, which are expensed as incurred and classified within "Siembra Minera Project Costs" in the Consolidated Statements of Operations.

In addition to other constraints, the Sanctions restrict the Company from working with those Venezuelan government officials responsible for the operation of Siembra Minera and the development of the Siembra Minera Project which, until Sanctions are lifted, obstructs our ability to develop the Siembra Minera Project as originally planned.

KSOP Plan

6 Months Ended

Jun. 30, 2020

Ksop Plan

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Note 8. KSOP Plan:

The KSOP Plan, adopted in 1990 for retirement benefits of employees, is comprised of two parts, (1) a salary reduction component, and a 401(k) which includes provisions for discretionary contributions by us, and (2) an employee share ownership component, or ESOP. Allocation of Class A common shares or cash to participants' accounts, subject to certain limitations, is at the discretion of the Board. There have been no Class A common shares allocated to the KSOP Plan since 2011. Cash contributions for plan year 2019 were approximately $171,000. As of June 30, 2020, no contributions by the Company had been made for plan year 2020.

Stock Based Compensation Plans

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

Note 9. Stock Based Compensation Plans:

Equity Incentive Plans

The Company's equity incentive plan provides for the grant of stock options to purchase up to a maximum of 8,750,000 of the Class A common shares. As of June 30, 2020, there were 2,307,000 options available for grant. Grants are made for terms of up to ten years with vesting periods as required by the TSXV and as may be determined by a committee of the Board established pursuant to the equity incentive plan.

Stock option transactions for the six months ended June 30, 2020 and 2019 are as follows:

	2020		2019
	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
Options outstanding - beginning of period	4,369,565	$ 3.09	4,554,565	$ 3.11
Options expired	-	-	(185,000)	3.43
Options outstanding - end of period	4,369,565	$ 3.09	4,369,565	$ 3.09

Options exercisable - end of period	4,369,565	$ 3.09	4,369,565	$ 3.09

The following table relates to stock options at June 30, 2020:

	Outstanding Options				Exercisable Options
Exercise Price	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)
$1.92	444,922	$1.92	$ 0	0.94	444,922	$1.92	$ 0	0.94
$2.69	125,000	$2.69	0	6.83	125,000	$2.69	0	6.83
$3.15	3,369,643	$3.15	0	6.63	3,369,643	$3.15	0	6.63
$3.91	180,000	$3.91	0	5.00	180,000	$3.91	0	5.00
$4.02	250,000	$4.02	0	4.07	250,000	$4.02	0	4.07
$1.92 - $4.02	4,369,565	$3.09	$ 0	5.84	4,369,565	$3.09	$ 0	5.84

No options were granted during the six month periods ended June 30, 2020 and 2019. The Company recorded non-cash compensation expense during the six months ended June 30, 2020 and 2019 of approximately 0 and $31,000, respectively for stock options granted in prior periods.

Change of Control Agreements

The Company maintains change of control agreements with certain officers and employees. A Change of Control is generally defined as one or more of the following: the acquisition by any individual, entity or group, of beneficial ownership of the Company of 25 percent of the voting power of the outstanding Common Shares; a change in the composition of the Board that causes less than a majority of the current directors of the Board to be members of the incoming board; reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company; liquidation or dissolution of the Company; or any other event the Board reasonably determines constitutes a Change of Control. As of June 30, 2020, the amount payable under the change of control agreements, in the event of a Change of Control, was approximately $7.1 million, which has not been recognized herein as no event of a change of control has been triggered as of the date of this report.

Income Tax

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note 10. Income Tax:

Income tax benefit for the six months ended June 30, 2020 and 2019 differs from the amount that would result from applying Canadian tax rates to net income before taxes. These differences result from the items noted below:

	2020		2019
	Amount	%	Amount	%
Income tax benefit based on Canadian tax rates	$ 1,078,689	25	$ 1,619,742	25
Decrease due to:
Different tax rates on foreign subsidiaries	(67,674)	(2)	(219,996)	(3)
Non-deductible expenses	(9,970)	-	(8,229)	-
Change in valuation allowance and other	(290,855)	(7)	(1,391,517)	(22)
	$ 710,190	16	$ -	-

The Company recorded income tax benefit of $0.7 million and 0 for the six months ended June 30, 2020 and 2019, respectively. We have recorded a valuation allowance to reflect the estimated amount of the deferred tax assets which may not be realized, principally due to the uncertainty of utilization of net operating losses and other carry forwards prior to expiration. The valuation allowance for deferred tax assets may be reduced in the near term if our estimate of future taxable income changes. As part of the US government response to the COVID-19 pandemic, the U.S. Congress passed the CARES act in late March 2020 which, among other things, allows companies to carryback losses incurred in 2018, 2019 and 2020. The Company expects that its U.S. taxable losses incurred in 2020 and 2019 will be carried back to offset taxable income in 2018. Accordingly, the Company has reduced its valuation allowance to account for the tax effect of its net operating losses in 2019 and the first half of 2020 and recorded a deferred tax asset of approximately $0.7 million. The Company has an income tax receivable of $7.6 million related to prior year overpayments, which includes $4.3 million recorded during the year ended December 31, 2019, resulting from revisions to management's estimates of the timing and amount of deductions available to the Company's U.S. subsidiary associated with the write-off of certain subsidiaries.

The components of the Canadian and U.S. deferred income tax assets and liabilities as of June 30, 2020 and December 31, 2019 were as follows:

		June 30,		December 31,
		2020		2019
Deferred income tax assets
Net operating loss carry forwards	$	33,639,056	$	34,569,939
Property, Plant and Equipment		4,742,791		4,742,961
Other		1,732,411		1,623,503
Total deferred income tax assets		40,114,258		40,936,403
Valuation allowance		(39,382,232)		(40,915,022)
Deferred income tax assets net of valuation allowance	$	732,026	$	21,381

Deferred income tax liabilities
Other		(21,836)		(21,381)
Net deferred income tax asset	$	710,190	$	-

At June 30, 2020, we had the following U.S. and Canadian tax loss carry forwards stated in U.S. dollars.

	U.S.	Canadian	Expires
$		$ 1,919,591	2026
		3,562,511	2027
		13,578,667	2028
		12,868,603	2029
		15,898,444	2030
		17,802,576	2031
		5,165,282	2032
		7,509,257	2033
		8,700,613	2034
		12,419,483	2035
		14,765,458	2036
		11,135,181	2037
		1,065,606	2038
		2,777,275	2039
		2,546,919	2040
	3,381,856		-
$	3,381,856	$ 131,715,466

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Return of Capital

6 Months Ended

Jun. 30, 2020

Return Of Capital

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Note 11. Return of Capital:

In June 2019, the Company completed a return of capital transaction by way of a court-approved plan of arrangement transaction under the Business Corporations Act (Alberta) which required approval by the Alberta Court of Queen’s Bench and at least two-thirds of the votes of shareholders. Pursuant to the plan of arrangement, the Company returned to holders of its Class A common shares approximately $76 million or $0.76 per Class A Share.

The Company and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	*Basis of Presentation and Principles of Consolidation*. These interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). The statements principally include the accounts of the Company, Gold Reserve Corporation and three Barbadian subsidiaries one of which was formed to hold our equity interest in Siembra Minera which is beneficially owned 55% by a Venezuelan state-owned entity and 45% by Gold Reserve. Our investment in Siembra Minera is accounted for as an equity investment. All subsidiaries are wholly owned. All intercompany accounts and transactions have been eliminated on consolidation. Our policy is to consolidate those subsidiaries where control exists. We have only one operating segment, the exploration and development of mineral properties. As these unaudited interim consolidated financial statements do not contain all of the disclosures required by U.S. GAAP for annual financial statements, they should be read in conjunction with the annual financial statements and the related notes included in our Annual Report on Form 40-F for the year ended December 31, 2019.
Cash and Cash Equivalents	*Cash and Cash Equivalents*. We consider short-term, highly liquid investments purchased with an original maturity of three months or less to be cash equivalents for purposes of reporting cash equivalents and cash flows. The cost of these investments approximates fair value. We manage the exposure of our cash and cash equivalents to credit risk by diversifying our holdings into various major financial institutions.
Exploration and Development Costs	*Exploration and Development Costs*. Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Mineral property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Mineral properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.
Property, Plant and Equipment	*Property, Plant and Equipment* Property, plant and equipment is recorded at cost and are depreciated on a straight-line basis over their estimated useful lives, except for equipment not yet placed into use. Included in property, plant and equipment is certain equipment, relating to the Brisas Project that is not being depreciated as it is not in use. The ultimate recoverable value of this equipment may be different than management's current estimate. We have additional property, plant and equipment which are recorded at cost less accumulated depreciation. Replacement costs and major improvements are capitalized. Maintenance and repairs are charged to expense as incurred. The cost and accumulated depreciation of assets retired or sold are removed from the accounts and any resulting gain or loss is reflected in operations. Furniture, office equipment and leasehold improvements are depreciated using the straight-line method over five to ten years. The remaining property, plant and equipment are fully depreciated.
Impairment of Long-Lived Assets	*Impairment of Long-Lived Assets.* We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If the sum of the expected future net cash flows to be generated from the use or eventual disposition of a long-lived asset (undiscounted and without interest charges) is less than the carrying amount of the asset, an impairment loss is recognized based on a determination of the asset's fair value. Fair value is generally determined by discounting estimated cash flows based on market participant expectations of those future cash flows, or applying a market approach that uses market prices and other relevant information generated by market transactions involving comparable assets.
Foreign Currency	*Foreign Currency.* The U.S. dollar is our (and our foreign subsidiaries') functional currency. Monetary assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the rates of exchange in effect at the balance sheet dates. Non-monetary assets and liabilities are translated at historical rates and revenue and expense items are translated at average exchange rates during the reporting period, except for depreciation which is translated at historical rates. Translation gains and losses are included in the statement of operations.
Stock Based Compensation	*Stock Based Compensation*. We maintain an equity incentive plan which provides for the grant of stock options to purchase Class A common shares. We use the fair value method of accounting for stock options. The fair value of options granted to employees is computed using the Black-Scholes method as described in Note 9 and is expensed over the vesting period of the option. For non-employees, the fair value of stock-based compensation is recorded as an expense over the vesting period or upon completion of performance. Consideration paid for shares on exercise of stock options, in addition to the fair value attributable to stock options granted, is credited to capital stock. Stock options granted under the plan become fully vested and exercisable upon a change of control.
Income Taxes	*Income Taxes*. We use the liability method of accounting for income taxes. Deferred tax assets and liabilities are determined based on the differences between the tax basis of assets and liabilities and those amounts reported in the financial statements. The deferred tax assets or liabilities are calculated using the enacted tax rates expected to apply in the periods in which the differences are expected to be settled. Deferred tax assets are recognized to the extent that they are considered more likely than not to be realized.
Use of Estimates	*Use of Estimates*. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Net Income (Loss) Per Share	*Net Income (Loss) Per Share*. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of Class A common shares outstanding during each period. Diluted net income per share reflects the potentially dilutive effects of outstanding stock options. In periods in which a loss is incurred, the effect of potential issuances of shares under stock options and convertible notes would be anti-dilutive, and therefore basic and diluted losses per share are the same in those periods.
Marketable Securities	*Marketable Securities*. The Company's marketable securities consist of debt securities that were classified as held for trading, and equity securities. Equity securities are reported at fair value with changes in fair value included in the statement of operations. Trading debt securities are reported at fair value with any changes in fair value included in the statement of operations.
Equity accounted investments	*Equity accounted investments.* Investments in incorporated entities in which the Company has the ability to exercise significant influence over the investee are accounted for by the equity method.
Financial Instruments	*Financial Instruments.* Marketable securities are measured at fair value at each reporting date, with the change in value recognized in the statement of operations as a gain or loss. Cash and cash equivalents, prepaid expense, deposits, advances and receivables are accounted for at amortized cost which approximates fair value. Accounts payable and contingent value rights are recorded at amortized cost which approximates fair value.

Cash and Cash Equivalents (Tables)

6 Months Ended

Jun. 30, 2020

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

Schedule of Cash and Cash Equivalents		June 30,		December 31,
		2020		2019
Bank deposits	$	29,052,100	$	31,499,893
Short term investments		31,733,502		30,322,244
Total	$	60,785,602	$	61,822,137

Short term investments include money market funds and US treasury bills which mature in three months or less.

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, All Other Investments [Abstract]

Schedule of Marketable Securities Value

		June 30,		December 31,
Schedule of Marketable Securities Value		2020		2019
Equity securities
Fair value at beginning of period	$	177,945	$	287,638
Increase (decrease) in fair value		2,170		(109,693)
Fair value at balance sheet date	$	180,115	$	177,945

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property Plant and Equipment

				Accumulated
		Cost		Depreciation		Net
June 30, 2020
Machinery and equipment	$	5,609,567	$	–	$	5,609,567
Furniture and office equipment		479,579		(373,682)		105,897
Transportation equipment		491,025		(181,930)		309,095
Leasehold improvements		51,658		(21,552)		30,106
Mineral property		350,000		–		350,000
	$	6,981,829	$	(577,164)	$	6,404,665

				Accumulated
		Cost		Depreciation		Net
December 31, 2019
Machinery and equipment	$	5,609,567	$	–	$	5,609,567
Furniture and office equipment		479,579		(360,224)		119,355
Transportation equipment		491,025		(132,827)		358,198
Leasehold improvements		51,658		(18,056)		33,602
Mineral property		350,000		–		350,000
	$	6,981,829	$	(511,107)	$	6,470,722

Stock Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock option transactions

Stock option transactions for the six months ended June 30, 2020 and 2019 are as follows:

	2020		2019
	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
Options outstanding - beginning of period	4,369,565	$ 3.09	4,554,565	$ 3.11
Options expired	-	-	(185,000)	3.43
Options outstanding - end of period	4,369,565	$ 3.09	4,369,565	$ 3.09

Options exercisable - end of period	4,369,565	$ 3.09	4,369,565	$ 3.09

Stock Options Outstanding and Exercisable

The following table relates to stock options at June 30, 2020:

	Outstanding Options				Exercisable Options
Exercise Price	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)	Number	Weighted Average Exercise Price	Aggregate Intrinsic Value	Weighted Average Remaining Contractual Term (Years)
$1.92	444,922	$1.92	$ 0	0.94	444,922	$1.92	$ 0	0.94
$2.69	125,000	$2.69	0	6.83	125,000	$2.69	0	6.83
$3.15	3,369,643	$3.15	0	6.63	3,369,643	$3.15	0	6.63
$3.91	180,000	$3.91	0	5.00	180,000	$3.91	0	5.00
$4.02	250,000	$4.02	0	4.07	250,000	$4.02	0	4.07
$1.92 - $4.02	4,369,565	$3.09	$ 0	5.84	4,369,565	$3.09	$ 0	5.84

Income Tax (Tables)

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income tax benefit

	2020		2019
	Amount	%	Amount	%
Income tax benefit based on Canadian tax rates	$ 1,078,689	25	$ 1,619,742	25
Decrease due to:
Different tax rates on foreign subsidiaries	(67,674)	(2)	(219,996)	(3)
Non-deductible expenses	(9,970)	-	(8,229)	-
Change in valuation allowance and other	(290,855)	(7)	(1,391,517)	(22)
	$ 710,190	16	$ -	-

Deferred income tax

The components of the Canadian and U.S. deferred income tax assets and liabilities as of June 30, 2020 and December 31, 2019 were as follows:

		June 30,		December 31,
		2020		2019
Deferred income tax assets
Net operating loss carry forwards	$	33,639,056	$	34,569,939
Property, Plant and Equipment		4,742,791		4,742,961
Other		1,732,411		1,623,503
Total deferred income tax assets		40,114,258		40,936,403
Valuation allowance		(39,382,232)		(40,915,022)
Deferred income tax assets net of valuation allowance	$	732,026	$	21,381

Deferred income tax liabilities
Other		(21,836)		(21,381)
Net deferred income tax asset	$	710,190	$	-

U.S. and Canadian tax loss carry forwards

At June 30, 2020, we had the following U.S. and Canadian tax loss carry forwards stated in U.S. dollars.

	U.S.	Canadian	Expires
$		$ 1,919,591	2026
		3,562,511	2027
		13,578,667	2028
		12,868,603	2029
		15,898,444	2030
		17,802,576	2031
		5,165,282	2032
		7,509,257	2033
		8,700,613	2034
		12,419,483	2035
		14,765,458	2036
		11,135,181	2037
		1,065,606	2038
		2,777,275	2039
		2,546,919	2040
	3,381,856		-
$	3,381,856	$ 131,715,466

The Company and Significant Accounting Policies (Details Narrative)	Jun. 30, 2020
Accounting Policies [Abstract]
Siembra Minera beneficial ownership by Venezuela	55.00%
Siembra Minera beneficial ownership by Company	45.00%

Arbitral Award, Settlement Agreement and Mining Data Sale (Details Narrative) $ in Thousands	Jun. 30, 2020 USD ($)
Arbitral Award Settlement Agreement And Mining Data Sale
Total Award	$ 740,300
Settlement Agreement	1,032,000
Venezuela agreed to pay to satisfy award	792,000
Venezuela agreed to pay for mining data	240,000
Payments made pursuant to settlement agreement	254,000
Amount remaining in trust account	21,500
Amount due and unpaid including interest	893,000
Interest due	$ 115,000
Amount of proceeds cvr holders entitled to	5.466%
Cumulative amount paid to cvr holders	$ 10,000
Increase in obligation to cvr holders	$ 39
Bonus percentage of first two hundred million collected	1.28%
Bonus percentage Thereafter	6.40%
Cumulative amount paid to bonus plan participants	$ 4,400
Increase in obligation to bonus plan participants	$ 45

Schedule of Cash and Cash Equivalents (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Bank deposits	$ 29,052,100		$ 31,499,893
Short term investments	31,733,502		30,322,244
Total	$ 60,785,602	$ 63,717,328	$ 61,822,137	$ 67,961,106	$ 146,464,660	$ 147,646,353

Cash and Cash Equivalents (Details Narrative) $ in Millions	12 Months Ended
Cash and Cash Equivalents (Details Narrative) $ in Millions	Dec. 31, 2018 USD ($)
Cash and Cash Equivalents [Abstract]
Impairment loss	$ 21.5

Marketable Securities (Details) - USD ($)	6 Months Ended	12 Months Ended
Marketable Securities (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Investments, All Other Investments [Abstract]
Fair value at beginning of period	$ 177,945	$ 287,638
Increase (decrease) in fair value	2,170	(109,693)
Fair value at balance sheet date	$ 180,115	$ 177,945

Schedule of Property Plant and Equipment (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Net, Total	$ 6,404,665	$ 6,470,722
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Machinery And Equipment Gross	5,609,567	5,609,567
[custom:MachineryAndEquipmentNet-0]	5,609,567	5,609,567
Accumulated Depreciation Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation Machinery And Equipment
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Furniture And Fixtures Gross	479,579	479,579
[custom:FurnitureAndFixturesNet-0]	105,897	119,355
Accumulated Depreciation Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation Furniture And Fixtures	(373,682)	(360,224)
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Transportation Equipment Gross	491,025	491,025
[custom:TransportationEquipmentNet-0]	309,095	358,198
Accumulated Depreciation Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation Transportation Equipment	(181,930)	(132,827)
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Leasehold Improvements Gross	51,658	51,658
[custom:LeaseholdImprovementsNet-0]	30,106	33,602
Accumulated Depreciation Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation Leasehold Improvements	(21,552)	(18,056)
Mineral Property [Member]
Property, Plant and Equipment [Line Items]
Mineral Property Gross	350,000	350,000
[custom:MineralPropertyNet-0]	350,000	350,000
Accumulated Depreciation Mineral Property [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation Mineral Property
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property Plant And Equipment Gross	6,981,829	6,981,829
Property, Plant and Equipment, Net, Total	6,404,665	6,470,722
Accumulated Depreciation [Member]
Property, Plant and Equipment [Line Items]
Accumulated Depreciation	$ (577,164)	$ (511,107)

Empresa Mixta Ecosocialista Siembra Minera, S.A (Details Narrative) $ in Millions	Jun. 30, 2020 USD ($)
Empresa Mixta Ecosocialista Siembra Minera S.a
Siembra Minera beneficial ownership by Venezuela	55.00%
Siembra Minera beneficial ownership by Company	45.00%
Cumulative expenditures associated with Siembra Minera	$ 20.2

KSOP Plan (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
KSOP Plan (Details Narrative) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Ksop Plan
Cash contributions to the plan	$ 0	$ 171,000

Stock option transactions (Details) - Equity Option [Member] - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance (in shares)	4,369,565	4,554,565
Beginning balance (in dollars per share)	$ 3.09	$ 3.11
Expired		185,000
Expired		$ 3.43
Expired		(185,000)
Ending balance (in shares)	4,369,565	4,369,565
Ending balance (in dollars per share)	$ 3.09	$ 3.09
Balance (in shares)	4,369,565	4,369,565
Exercise Price (in dollars per share)	$ 3.09	$ 3.09

Stock Options Outstanding and Exercisable (Details)	6 Months Ended
Stock Options Outstanding and Exercisable (Details)	Jun. 30, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options Weighted Average Exercise Price: $1.92	$ 1.92
Outstanding Options Number: $1.92 \| shares	444,922
Outstanding Options Weighted Average Exercise Price: $1.92	$ 1.92
Outstanding Options Aggregate Intrinsic Value: $1.92 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $1.92	11 months 8 days
Exercisable Options Number: $1.92 \| shares	444,922
Exercisable Options Weighted Average Exercise Price: $1.92	$ 1.92
Exercisable Options Aggregate Intrinsic Value: $1.92 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $1.92	11 months 8 days
[custom:OutstandingOptionsExercisePrice269-0]	$ 2.69
Outstanding Options Number: $2.69 \| shares	125,000
Outstanding Options Weighted Average Exercise Price: $2.69	$ 2.69
Outstanding Options Aggregate Intrinsic Value: $2.69 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $2.69	6 years 9 months 29 days
Exercisable Options Number: $2.69 \| shares	125,000
Exercisable Options Weighted Average Exercise Price: $2.69	$ 2.69
Exercisable Options Aggregate Intrinsic Value: $2.69 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $2.69	6 years 9 months 29 days
[custom:OutstandingOptionsExercisePrice315-0]	$ 3.15
Outstanding Options Number: $3.15 \| shares	3,369,643
Outstanding Options Weighted Average Exercise Price: $3.15	$ 3.15
Outstanding Options Aggregate Intrinsic Value: $3.15 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $3.15	6 years 7 months 17 days
Exercisable Options Number: $3.15 \| shares	3,369,643
Exercisable Options Weighted Average Exercise Price: $3.15	$ 3.15
Exercisable Options Aggregate Intrinsic Value: $3.15 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $3.15	6 years 7 months 17 days
[custom:OutstandingOptionsExercisePrice391-0]	$ 3.91
Outstanding Options Number: $3.91 \| shares	180,000
Outstanding Options Weighted Average Exercise Price: $3.91	$ 3.91
Outstanding Options Aggregate Intrinsic Value: $3.91 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $3.91	5 years
Exercisable Options Number: $3.91 \| shares	180,000
Exercisable Options Weighted Average Exercise Price: $3.91	$ 3.91
Exercisable Options Aggregate Intrinsic Value: $3.91 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $3.91	5 years
[custom:OutstandingOptionsExercisePrice402-0]	$ 4.02
Outstanding Options Number: $4.02 \| shares	250,000
Outstanding Options Weighted Average Exercise Price: $4.02	$ 4.02
Outstanding Options Aggregate Intrinsic Value: $4.02 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $4.02	4 years 25 days
Exercisable Options Number: $4.02 \| shares	250,000
Exercisable Options Weighted Average Exercise Price: $4.02	$ 4.02
Exercisable Options Aggregate Intrinsic Value: $4.02 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $4.02	4 years 25 days
Outstanding Options Number: $1.92 - $4.02 \| shares	4,369,565
Outstanding Options Weighted Average Exercise Price: $1.92 - $4.02	$ 3.09
Outstanding Options Aggregate Intrinsic Value: $1.92 - $4.02 \| $	$ 0
Outstanding Options Weighted Average Remaining Contractual Term (Years): $1.92 - $4.02	5 years 10 months 2 days
Exercisable Options Number: $1.92 - $4.02 \| shares	4,369,565
Exercisable Options Weighted Average Exercise Price: $1.92 - $4.02	$ 3.09
Exercisable Options Aggregate Intrinsic Value: $1.92 - $4.02 \| $	$ 0
Exercisable Options Weighted Average Remaining Contractual Term (Years): $1.92 - $4.02	5 years 10 months 2 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
[custom:OutstandingOptionsExercisePriceRange-0]	$ 1.92
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
[custom:OutstandingOptionsExercisePriceRange-0]	$ 4.02

Stock Based Compensation Plans (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Maximum number of options available under the plan	8,750,000
Options available for grant	2,307,000
Maximum term of options	10 years
Non-cash compensation expense	$ 0	$ 31,000
Amount payable in event of change of control	$ 7,100,000

Income tax benefit (Details) - USD ($)	6 Months Ended
Income tax benefit (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax benefit based on Canadian tax rates	$ 1,078,689	$ 1,619,742
Income Tax Benefi tBased On Canadian Tax Rates Percentage	25.00%	25.00%
Different tax rates on foreign subsidiaries	$ (67,674)	$ (219,996)
Different Tax Rates On Foreign Subsidiaries Percentage	(2.00%)	(3.00%)
Non-deductible expenses	$ (9,970)	$ (8,229)
Nondeductible Expenses Percentage		(0.00%)
Change in valuation allowance and other	$ (290,855)	$ (1,391,517)
Change In Valuation Allowance And Other Percentage	(7.00%)	(22.00%)
Income tax benefit	$ 710,190
Income Tax Benefit Percent	16.00%

Deferred income tax (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Deferred income tax assets
Net operating loss carry forwards	$ 33,639,056	$ 34,569,939
Property, Plant and Equipment	4,742,791	4,742,961
Other	1,732,411	1,623,503
Total deferred income tax assets	40,114,258	40,936,403
Valuation allowance	(39,382,232)	(40,915,022)
Deferred income tax assets net of valuation allowance	732,026	21,381
Deferred income tax liabilities
Other	(21,836)	(21,381)
Net deferred income tax asset	$ 710,190

U.S. and Canadian tax loss carry forwards (Details)	Jun. 30, 2020 USD ($)
Income Tax Disclosure [Abstract]
Canadian tax loss carryforward expiring 2026	$ 1,919,591
Canadian tax loss carryforward expiring 2027	3,562,511
Canadian tax loss carryforward expiring 2028	13,578,667
Canadian tax loss carryforward expiring 2029	12,868,603
Canadian tax loss carryforward expiring 2030	15,898,444
Canadian tax loss carryforward expiring 2031	17,802,576
Canadian tax loss carryforward expiring 2032	5,165,282
Canadian tax loss carryforward expiring 2033	7,509,257
Canadian tax loss carryforward expiring 2034	8,700,613
Canadian tax loss carryforward expiring 2035	12,419,483
Canadian tax loss carryforward expiring 2036	14,765,458
Canadian tax loss carryforward expiring 2037	11,135,181
Canadian tax loss carryforward expiring 2038	1,065,606
Canadian tax loss carryforward expiring 2039	2,777,275
Canadian tax loss carryforward expiring 2040	2,546,919
UsTax Loss Carryforward	3,381,856
Total US tax loss carryforward	3,381,856
Total Canadian tax loss carryforward	$ 131,715,466

Income Tax (Details Narrative) - USD ($)	6 Months Ended
Income Tax (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2020
Income Tax Disclosure [Abstract]
Income tax benefit recorded by the Company	$ 700,000	$ 0
Deferred Tax Assets, Net of Valuation Allowance			$ 700,000
The Company's income tax receivable	7,600,000
The Company's income tax receivable relating to 2019 revisions of estimates	$ 4,300,000

Return of Capital (Details Narrative) $ / shares in Units, $ in Millions	1 Months Ended
	Jun. 30, 2019 USD ($) $ / shares
Return Of Capital
Returned to shareholders \| $	$ 76
Returned to shareholders per share \| $ / shares	$ 0.76