‘Gold Rush’: Parker Schnabel Discusses $160 Million Gamble in Sneak Peek (VIDEO)

The miners on Gold Rush Season 14 are taking big gambles in the hope of even bigger payoffs. At the forefront is Parker Schnabel, who rather than play it safe, went for a once-in-a-lifetime opportunity to acquire historically gold-rich virgin ground for a whopping $15 million. This further affirmed the 28-year-old as one of the true gold kings and land owners of the Yukon.

The potential payout for his new terrain is 80,000 ounces of gold worth $160 million. Of course, securing that treasure is easier said than done. As Schnabel explains in this exclusive clip ahead of Episode 2 “Call of the Indian River,” Dominion Creek has had a hell of a lot of mining before. However, he said, “Everyone has always been in a huge rush to get gold out of the ground. Where it gets expensive very fast.”

Schnabel hopes to learn from past mistakes. The miner and his crew need to dig deep for the gold, buried 40 feet below. To pull it from the ground, he’ll also need to spend millions on top of the $15 million he paid for the claim. And that’s just the start.

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Schnabel made no bones about the investment, as well as what’s on the line. He said he went from four or five years of financial security but no ground security. Now it’s the opposite. “That’s a little scary,” Schnabel said in the clip. He lays out the game plan to Mitch Blaschke and Tyson Lee. The goal is to secure 5,000 ounces to “not be screwed.” The episode will see Schnabel open the first cut at the new claim. Time is of the essence as thousands of dollars are pumped into the operation each day.

Elsewhere, the returning Rick Ness is bringing on a new crew member. After going MIA for more than a year, he is back in the game bankrolled by selling his late mom’s house. Ness realizes in order to be successful he can’t solely depend on Brian “Zee” Zaremba. The “King of Klondike” Tony Beets has a big decision on his hands. Stay in Paradise Hill or pivot and move the whole family operation to Indian River for a potentially better payoff. What does Beets decide? Find out by watching the next episode of Gold Rush.

Gold Rush, Fridays, 8/7c, Discovery Channel