Epic Gold Corp. (CSE: EPG) (OTCQB: NFLDF) (FSE: 6341), as reported by Epic Gold (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 about 80 kilometers south-southwest of Hearst, Ontario. This estimate, prepared in accordance with National Instrument 43-101, marks a significant milestone for the company and underscores the potential of the region as a gold exploration hub.
The MRE comprises 14 million metric tons grading an average of 0.98 grams per metric ton gold, including 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 estimate assumes a gold price of $3,500 per ounce and a 93% recovery rate, superseding the project's previously disclosed historical estimate. It is based on a database of 185 drill holes totaling 33,414 meters. Epic Gold noted that 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.
For the industry, this announcement highlights the continued attractiveness of Northern Ontario as a mining-friendly jurisdiction with untapped potential. The proximity of the deposit to the surface could translate into lower initial capital costs and quicker development timelines, should the resource advance to economic viability. However, the resource remains classified as Inferred, meaning it does not yet have demonstrated economic viability. Investors should note that further drilling and studies are required to upgrade the classification and assess actual mining prospects.
Epic Gold 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. The company is also considering modern metallurgical testing. These steps could lead to resource growth and enhanced project economics, potentially attracting partnerships or investment. For the local economy, successful development could bring job creation and infrastructure investment to the Hearst area, though any such outcomes are contingent on future exploration success and permitting.
The full press release can be viewed at https://ibn.fm/tXxvK. 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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