Epic Gold Corp. (CSE: EPG) (OTCQB: NFLDF) (FSE: 6341) has announced an initial current Mineral Resource Estimate (MRE) of approximately 440,000 ounces of gold at the McKinnon Deposit within its optioned Hawkins Gold Project, located approximately 80 kilometers south-southwest of Hearst, Ontario. The estimate, prepared in accordance with National Instrument 43-101, comprises 14 million metric tons grading an average of 0.98 grams per metric ton gold. This includes a pit-constrained Inferred Mineral Resource of 360,000 ounces at 0.89 grams per metric ton and an out-of-pit underground Inferred Mineral Resource of approximately 80,000 ounces at 1.82 grams per metric ton.
The resource estimate assumes a gold price of $3,500 per ounce and a 93% recovery rate, and it supersedes the project's previously disclosed historical estimate. The MRE is based on a database of 185 drill holes totaling 33,414 meters. Epic Gold said the McKinnon Deposit extends approximately 3.7 kilometers along a substantially longer mineralized structure, with most of the estimated resource located within approximately 200 meters of the surface. This near-surface mineralization could allow for lower-cost open-pit mining methods, potentially enhancing the project's economics.
The company plans systematic exploration along the broader Puskuta Deformation Zone, followed by depth-extension and infill drilling to evaluate potential resource expansion and improve confidence in the existing estimate. Epic Gold is also considering modern metallurgical testing. The entire resource remains classified as Inferred, and mineral resources do not have demonstrated economic viability. This initial MRE provides a foundation for future studies and could attract further investment as the company advances the project.
For readers interested in tracking Epic Gold's progress, the full press release is available through InvestorWire. Epic Gold Corp. is a well-funded gold exploration company anchored by historical gold resources across its four projects. For more information, visit https://epicgoldcorp.com/.
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The initial resource estimate at Hawkins is significant for Epic Gold as it provides a tangible asset base and could serve as a catalyst for further exploration and development. The project's location in Ontario, a mining-friendly jurisdiction, adds to its appeal. For the broader mining industry, this announcement underscores the continued potential for gold discoveries in Canada, particularly in regions with established infrastructure and skilled labor. As gold prices remain elevated, projects like Hawkins could become increasingly attractive to investors and major mining companies seeking to replenish reserves. The company's focus on expanding the resource along the Puskuta Deformation Zone suggests a long-term vision for the project, which could lead to additional economic benefits for local communities and the provincial economy.
