EnergyAlaska · August 18, 2026
hatcher pass gold is back
The gold mines that World War II shut down at Hatcher Pass just sold for $18.75 million, and the drills are already turning.
Daily Alaska staff · August 18, 2026
Contango Silver and Gold purchased the Lucky Shot project leases in June 2026 from Alaska Hardrock Inc. for $18.75 million, acquiring the historic Lucky Shot, War Baby, and Coleman mines across about 8,600 acres in the Willow Mining District near Hatcher Pass in the Mat-Su Borough.
The mines produced roughly 250,000 ounces of gold between 1922 and 1942 before federal order L-208 halted American gold mining nationwide to redirect resources to the war effort. They have sat idle since.
Two drilling rigs are now conducting underground exploration at the site, and about 30 people work there year-round. Several recent core samples have come back at bonanza grade, over 20 grams per tonne, with peaks up to 74.5.
The company held an open house on July 31, including a rock-breaking ceremony. CEO Rick Van Nieuwenhuyse said at the event, "We want to invest in Alaska. We love this place."
A final investment decision on full production is expected roughly 18 months out from mid-2026. If it proceeds, ore would be trucked to Willow and carried by the Alaska Railroad to Fort Knox near Fairbanks or to Seward for processing.
In this story
Questions people ask
Where are Lucky Shot War Baby Coleman mines located?
In the Willow Mining District near Hatcher Pass in the Mat-Su Borough, spread across about 8,600 acres.
How much did Contango pay for the mine leases?
Contango Silver and Gold paid $18.75 million when they bought the leases from Alaska Hardrock Inc. in June 2026.
When will they decide on full production?
An investment decision is expected roughly 18 months out from mid-2026, so around early 2028.
Where would the ore be processed?
It would be trucked to Willow and then moved by the Alaska Railroad to Fort Knox near Fairbanks or to Seward for processing.
Evidence
Sources
Claims and where they come from
- Contango Silver and Gold purchased the Lucky Shot project leases from Alaska Hardrock Inc. for $18.75 million in June 2026. · akbizmag.com
- The mines produced roughly 250,000 ounces of gold between 1922 and 1942 before federal order L-208 halted gold mining. · akbizmag.com
- Core samples at the site have returned bonanza grade results with peaks up to 74.5 grams per tonne. · akbizmag.com
- A final investment decision on full production is expected roughly 18 months from mid-2026. · akbizmag.com
Produced with AI assistance, narrated with Slav Lund's voice clone with his consent, and reviewed by a person before publishing. How we use AI →