Minnesota Gold Rush: There’s Gold in Them ‘Thar Hills!

With large bricks of gold on display at the First National Bank of Duluth and the St. Louis Hotel, there was no denying it. This was a genuine Minnesota Gold Rush! The noted geologist Dr. Matthew Stephenson would have been proud to confirm: “There’s gold in them thar hills” and “there’s millions in it.”

The prospector George W. Davis unleashed gold fever with his discovery of gold on the wooded, desolate Little American Island on Rainy Lake in July 1893. In his crew were prospectors who had found the enormous Homestake Mine twenty years before in the Black Hills. That mine was producing 25 percent of the world’s gold supply now and would generate a stunning 40 million troy ounces of gold until it closed in 2002.

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