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. It 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 resource 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 support lower-cost open-pit mining scenarios, although the entire resource remains classified as Inferred and mineral resources do not have demonstrated economic viability.
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, which could optimize recovery rates and enhance project economics. For more details, the full press release is available at https://ibn.fm/tXxvK.
For investors in the raw materials mining sector, this news matters because it highlights ongoing exploration success in a stable jurisdiction. Ontario is a globally recognized mining-friendly region with established infrastructure and skilled labor, reducing geopolitical risk. The initial resource at Hawkins could attract further investment and partnership interest, especially as gold prices remain elevated. The MRE also provides a foundation for future feasibility studies and potential resource growth. Epic Gold is described as a well-funded gold exploration company anchored by historical gold resources across its four projects, and more information is available at https://epicgoldcorp.com/.
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As exploration continues, the Hawkins project could evolve into a significant gold mining operation, contributing to regional economic activity and offering potential upside for shareholders. However, investors should note that Inferred resources are considered too speculative geologically to have economic considerations applied to them. Further drilling and studies are required to upgrade the resource to higher confidence categories. For full terms and disclaimers, see https://www.InvestorWire.com/Disclaimer.
