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"The Noblest of all Metals" - Gold mining in Alaska, the largest and most northern of the United States, has been a major industry and driving force for exploration and settlement since a few years after the United States purchased the territory from Russia. Russian explorers discovered placer gold (loose gold) in the Kenai River in 1848, but no gold was produced. Gold mining (placer mining) started southeast of Juneau, Alaska in 1870. Gold is found and has been mined throughout Alaska since that time.