The origin of the gold in deep placers has long been a vexed question. It was formerly accepted without question that the erosion of auriferous quartz lodes existing at higher altitudes furnished both gravel and gold. In support of this it was urged that the same districts which furnished auriferous gravels abounded in quartz veins at higher levels, while Whitney pointed out that numerous lodes were intersected by the valleys and were still to be seen in the bed-rock. On the other hand, the fact that the nuggets found in the drift are much larger than any masses of gold encountered in veins, and that the placer gold is of superior fineness, are difficulties in the way of accepting this theory. Moreover, Egleston states that nuggets as large as a man’s fist have been found embedded in the midst of fine sand, whither they could not have been carried by the action of running water, but authentic instances of such finds seem to be lacking, nuggets usually occurring in coarse gravel, among boulders. It is further declared by the opponents of the erosion theory that if a small quantity of soft material like gold mixed with lumps of hard quartz, were washed down by water, then, long before the quartz, could be reduced by grinding to the condition of grains of sand, the gold would be worn down to such a fine state of division that none of it could lodge in the river bed at all. In opposition to this contention, it may be urged that the extreme malleability of fine gold would make this comminution very slow, and scales of the metal are said to have their edges blunted and thickened by the pounding action of dry sand moved by the wind, instead of having them worn away. Moreover nuggets often include more or less quartz.

In 1864, in order to account for these and other facts, Mr. A. C. Selwyn, of Victoria, suggested a theory of solution in which it is supposed that the gold disseminated through the rocks and drifts is dissolved by percolating waters which contain acids and salts in solution, and is reprecipitated around certain centres. Selwyn considered that the waters capable of dissolving gold must have acquired this property by passing through the beds of basalt, &c., overlying the drifts, inasmuch as large nuggets occur, in districts where basaltic eruptions have taken place, while, where these are absent, the gold is very fine, and nuggets can scarcely be said to exist. The fact has long been known that gold is soluble in certain dilute solutions of salts, likely to be met with in nature, such as a mixture of nitrates with chlorides, bromides or iodides, or as the haloid ferric salts. This has been firmly established by the researches of Skey, Daintree, Egleston and others. Also, the precipitation of gold from these solutions around nuclei consisting of particles of gold, pyrites, &c., by organic matter present in the liquid, has been studied, and efforts made to form nuggets similar to those found in nature, without much success. This, however, is not surprising since the conditions in nature, including almost unlimited time and immense quantities of exceedingly dilute solutions, cannot be reproduced in the laboratory. Among other pieces of evidence against the erosion theory which have been cited, may be mentioned the fact that some gold placers occur at higher levels than any quartz veins yet discovered or likely to be discovered; also that nuggets are said to have been found embedded in decomposed rocks in positions to which they could not possibly have been carried by running water, so that these nuggets at least must have been formed by accretion. The prevalent belief among diggers that the tailings from sluicing operations grow in richness so as to be worth working over again after a few years is explicable on either hypothesis.

The exponents of the erosion theory have pointed out that the fineness of the placer gold may be accounted for by supposing that the impurities (silver, copper) formerly present in the native gold have been dissolved away by meteoric water, in which they are much more soluble than gold is. The existence of large masses of gold in placer deposits was accounted for by Whitney by assuming that the upper portion of the lodes, now washed away, were richer, and contained larger masses of gold than the remains of the lodes now left, but Liversedge has shown that this assumption is not necessary. Some nuggets too have been found showing undoubted signs of erosion by water, but these are rare. Liversedge has also adduced evidence (loc. cit.) that, even if the small particles of gold found in placers have grown by accretion, nuggets cannot have appreciably increased in size. The suggestions made to account for the great richness at bed-rock—viz., that gold has “ settled ” through the quicksands, or that the gold solution has remained longest in contact with the sand nearest bed-rock—are not wholly satisfactory, and must be supplemented by some such explanation as that given earlier.

The view is now generally accepted that placer gold has almost invariably resulted from the erosion of older auriferous deposits.

The gold in the gravels of the Klondike region differs from ordinary placer gold. It is often in large nuggets, including much quartz, and is usually rough and but little water-worn. It is of low standard, and has resulted from the erosion of auriferous rocks by glaciers which have carried the broken material into the valleys and left them as moraines.

Materials occurring in the Placer Deposits

In California, if quartz grains and silicified wood are excepted, the most abundant mineral is black iron-sand, which usually consists of magnetite, although manaccanite, a form of hematite in which part of the iron is replaced by titanium, also occurs. These minerals must have been derived from the lavas, as neither of them are known to occur in the quartz veins of the country. Platinum and its allies are usually present in more or less abundance; thus iridosmine occurred to the extent of 1 in 100,000 of the gold in the early days, and increased afterwards to 15 or 16 times that proportion. It is still abundant in the beach sands of Northern California. Grains of native copper, nickel, and perhaps lead have also been detected, and a few diamonds occur, while garnets, small crystals of zircon and cinnabar are very abundant.