‘Gold Rush’ Star Parker Schnabel Spends a Fortune in Hopes of Making Even More

by Chris Haney

During a recent episode of Gold Rush, mining boss Parker Schnabel took another costly risk in hopes of making even more money.

We’re well into Season 12 of the hit Discovery Channel series, and Schnabel and his crew are shooting for the stars once again. Fans of the show are used to Schnabel and other mining bosses taking financial risks. Gold mining can be a dangerous but lucrative business well worth the trouble at times. Thankfully for the 27-year-old, he knows the ins and outs of the industry better than most even at a young age.

The Gold Rush star grew up around his grandfather’s gold mining business. By the time Schnabel was a teenager he was at the helm of a mining crew twice his age. Instead of attending college after he graduated high school, Parker set out on his own and created his own gold mining business. It’s paid off in spades, and he’s hoping another recent decision will as well.

Schnabel and his crew are having a tough time with their dig site at Mud Mountain. They need to finish mining the area before their lease runs out. The gold mining prodigy even admits he might’ve bitten off more than he could chew with Mud Mountain.

“Mud Mountain is a big project, probably a bit bigger than I thought it was gonna be. And there’s still a lot of dirt to move,” Parker Schnabel says in a clip from the episode.

‘Gold Rush’ Star Makes A Tough Decision That Costs Him Over $300k In One Week

The clock is ticking for Parker Schnabel and his crew. The Gold Rush star has one month left to strip the 60-foot deep Mud Mountain or his team won’t have time to sluice it. If they don’t complete the job before their lease on the land is up, any gold left in the area will be someone else’s to mine.

In an attempt to put all his crew’s focus and resources into Mud Mountain, Schnabel makes a shocking decision. He decides to shut down one of his two sluice machines, even though each makes thousands per day. He decides that shifting all of his crew’s manpower to tackle Mud Mountain is in their best interest. By shutting down his one wash plant nicknamed Sluicifer, it’s a huge financial risk that will cost Schnabel $312,000 in only one week.

Gold Rush viewers aren’t used to seeing entire dig sites shut down. However, Schnabel’s back is up against a wall and it forced him to make a quick decision. As for now, his crew has mined more than $5 million worth of gold this season. Yet that’s just barely enough to cover the costs of Schnabel’s ongoing project at Mud Mountain. You’ll have to tune into Discovery or Discovery+ to see if Schnabel’s enormous gamble paid off in Season 12.