Local Mining – Past and Present
Both hardrock and placer gold mining occur in Fairbanks today.
Hardrock gold mining is the method that is used when gold is trapped inside a rock. The rocks must be crushed and blended with chemicals to extract the gold.
Placer mining occurs when gold has eroded out of its source rock. For placer mining, only gravity and water are required. Gold panning is used to recover placer gold.
Many people still make their living mining for gold in Fairbanks and the surrounding areas. It is an expensive and arduous way to make a profit, especially in Fairbanks where the summer is so short and miners have a small window to find gold. Mining involves high-stress, high-risk and the possibility of high-reward.
Fort Knox is an open pit hard rock gold mine that is located in the Fairbanks district. In 2011, they surpassed the 6 million ounce mark for gold recovery, making them the largest producer of gold in Alaska history. At $1200/troy ounce, that translates to $7.2 billion. Fort Knox is located 30 minutes north of Gold Daughters.
Pedro creek, where gold was discovered in 1902 and where Gold Daughters sources some of our paydirt. It s just 8 miles north of our location.