‘Gold Rush’ Star Parker Schnabel Reveals How Much Money He’s Putting Into His Next Big Plan

by Taylor Cunningham

Mine boss Parker Schnabel is hoping to up his Gold Rush game this summer with a new project in Fairbanks, Alaska. But the venture will come at a hefty cost.

According to a new promo for Gold Rush: Parker’s Trail that the franchise posted on Instagram, starting a big operation in AK will cost Schnabel a staggering $5 million. And as fans of the series know, there is no guarantee that he’ll get a return on the investment.

As the caption shares, Schnabel isn’t too worried about getting the plant up and running. But there is one obstacle standing in his way, finding the perfect wash plant.

Schnabel explains in the clip that he’s planning on getting the whole plant operating by next summer. And to do that, he’ll need “a bunch of equipment.” And he needs to get a “jump on” the “big key pieces.”

One of the reasons he has to rush his purchases is because of inflation. As of now, his $5 million won’t buy much in the steel world.

“You know, prices have gone crazy,” he explains.

“In terms of like building a new operation and what our goal is this winter, is like, we need to find a wash plant—first and foremost. And that’s the basis that everything else is built around,” Schnabel continues.

In the ‘Gold Rush’ Promo, Parker Schnabel Sets Out to Find a Trommel Wash Plant

In the interview, Schnabel admits that he’s headed to check out a trommel wash plant. Both of his current machines are screen decks. And they can’t run the types of materials that trommels can handle.

In some instances, Schnabel’s team will run into clay—especially if they stake some land in Fairbanks—and his screen decks can’t process that. So he’s hoping to gain some stability with the more expensive and reliable equipment.

The trommel that Parker Schnabel has his eye on is 15 years old and has a list price of $66,000. His budget for the wash plant is $1 million. So, he hopes to save some money with the well-used machine.

But unfortunately, upon first glance, the gold miner realizes that the trommel is too small for his operation. And he’ll likely have to fork over more money for something more realistic.

“This is a 50 or 60-mile-an-hour wash plant. But, if you had a supersized version of this, I could see something like that working.”

Watch Parker Schnabel begin the journey for a Fairbanks dig site during the season premiere of GoldRush: Parker’s Trail this Friday at 8P on Discovery Plus.