FAIRBANKS, Alaska (AP) - A gold company has acquired mineral rights to land north of Fairbanks that is believed to contain millions of ounces of gold.
The Fairbanks Daily News-Miner reports that Kinross Gold Corp. acquired the more than 1-square-mile (2.6-square-kilometer) parcel from the federal government on Monday.
The land is located west of the company's Fort Knox Gold Mine and is estimated to contain 2.1 million ounces (59,500 kilograms) of gold.
The estimate comes from drilling the company has been doing on the land since 2014.
The land was previously a buffer for radio interference around an array of weather satellite receivers, but in 2016 the National Oceanic and Atmospheric Administration announced it no longer needed the buffer.