Fort Knox is located 30 minutes north of Gold Daughters. At $1200/troy ounce, that translates to $7.2 billion. In 2011, they surpassed the 6 million ounce mark for gold recovery, making them the largest producer of gold in Alaska history.

Mining involves high-stress, high-risk and the possibility of high-reward.įort Knox is an open pit hard rock gold mine that is located in the Fairbanks district. 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. Many people still make their living mining for gold in Fairbanks and the surrounding areas. Gold panning is used to recover placer gold. For placer mining, only gravity and water are required. Placer mining occurs when gold has eroded out of its source rock. The rocks must be crushed and blended with chemicals to extract the gold. Hardrock gold mining is the method that is used when gold is trapped inside a rock. Both hardrock and placer gold mining occur in Fairbanks today.

Parts of a gold dredge