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 about 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 MRE 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 estimate 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. This proximity to surface could facilitate potential open-pit mining operations and reduce initial capital requirements.
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 to better understand recovery characteristics. The entire resource remains classified as Inferred, and mineral resources do not have demonstrated economic viability, meaning further drilling and studies are required to convert them to reserves.
The announcement is significant for Epic Gold as it provides a foundational resource estimate for the Hawkins Project, which could enhance the company's attractiveness to investors and potential partners. For more details, see the Epic Gold (CSE: EPG) (OTCQB: NFLDF) (FSE: 6341) market research page. The full press release is available at https://ibn.fm/tXxvK, and additional information can be found on the company's website at https://epicgoldcorp.com/.
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