This proposed gold mine is located beside the Elliot Highway about 70 miles north of Fairbanks. International Tower Hill Mines, a Canadian company, has conducted exploration in the Tolovana mining district since 2010. There is a history of placer mining in the area, but International Tower Hill is concentrating on hard rock deposits in the Money Knob outcropping.International Tower Hill conducted extensive drilling in 2010 and 2011. They announced that in June 2012 they would conduct a limited drilling program for summer 2012 and would focus on producing a feasibility study.International Tower Hill estimates that there are 16.5 million ounces of gold in measured and indicated deposits, as well as 4.1 million ounces of inferred deposits. ITH is considering mill-only process using cyanide leaching. The mill would require 70-80 MW of power, which could be generated onsite or purchased from Golden Valley Electric Association.