Let’s set up a thought experiment: Suppose you had some material that ran one ounce per ton gold, which is generally considered high grade to fantastic grade depending on the circumstances.

Only the richest ores could be worked and shipped off for processing at a profit. As a result, early mining in the southern part of the Humboldt Range was short-lived. In the 1880s, placers were discovered in Spring Valley and American Valley on the east side of the range...

The catch being was that it was about 60 miles from Anchorage near Hope, and a good four or five-mile hike uphill to the claims.