Much of the drill data behind a new Ontario gold resource was collected between 1983 and 1986. The gold price used to value it is US$3,500 an ounce. Epic Gold turned that old Falconbridge work into 440,000 Inferred ounces, while GMV Minerals and ATHA Energy closed out drill seasons in Arizona and Nunavut.
Epic Gold Puts 440,000 Ounces on the McKinnon Deposit at Hawkins
Epic Gold Corp. (CSE: EPG; OTCQB: NFLDF) announced on October 8 an Inferred resource of 440,000 ounces of gold at 0.98 g/t across 14.0 million tonnes at the McKinnon Deposit on its optioned Hawkins Gold Project, 80 km south-southwest of Hearst, Ontario. The pit-constrained portion holds 360,000 ounces at 0.89 g/t using a 0.24 g/t cut-off. Another 80,000 ounces at 1.82 g/t sits below the pit shell.
It is Epic’s first current resource at Hawkins. The numbers assume US$3,500 gold and 93% recovery. That recovery figure comes from seven samples tested for Falconbridge in 1985. No modern metallurgical work exists.
Much of the 185-hole database dates to Falconbridge’s 1983 to 1986 program. The deposit runs 3.7 km along the Puskuta Deformation Zone, with most of the resource within about 200 meters of surface. Everything is Inferred, and there is no economic study. Epic holds Hawkins under option, not outright. Its share count was cut by a 1-for-5 consolidation effective June 3, and data providers peg its market cap between roughly C$8 million and C$15 million.
GMV Minerals Hits 12.64 g/t Gold Over 4.88 Metres in Arizona
GMV Minerals Inc. (TSXV: GMV; OTCQB: GMVMF) reported on October 7 assays from all 25 holes of its 2026 Mexican Hat program, led by 12.64 g/t gold over 4.88 metres in hole MHC26-14. MHC26-24 added 3.30 g/t over 12.39 metres. Every hole hit gold inside the modeled zones.
The program was built to tighten an existing resource and collect pit-slope data. Mexican Hat already carries an Inferred resource of 688,000 ounces at 0.58 g/t, effective August 8, 2025. The 94 reported intercepts averaged 0.87 g/t over 7.7 metres. A revised resource including the new holes is expected in the coming months.
Economics still lean on price. The 2025 PEA base case uses US$2,500 gold for an after-tax NPV of US$268.3 million; at US$4,000 that becomes US$744.4 million. Reported intervals are core lengths, from holes designed to cross the mineralization at angles above 75 degrees.
ATHA Energy Stretches Uranium Trend to 3.4 km at Angilak, Nunavut
ATHA Energy Corp. (TSXV: SASK; OTCQX: SASKF) said on October 7 that its final seven RIB North holes all hit uranium, linking the RIB North and RIB East discoveries over 3.4 km of strike, up from 1.45 km. Hole RIBN-DD-023 cut 19.5 metres of composite mineralization across fourteen zones, including 2.0 metres classed as high grade.
None of this is assayed yet. The readings come from a downhole gamma probe, a tool that measures radioactivity inside the drill hole in counts per second. ATHA calls anything above 10,000 counts per second high grade. Core samples are at the Saskatchewan Research Council lab, and widths are core widths.
RIB was discovered in 2025, and the release reports no resource estimate for it. Results from the Lac 50 corridor are due in the coming weeks. ATHA’s market cap stood near C$482 million at its August 28 close, far larger than the other names here.
Frequently Asked Questions
A substantial portion. Much of the drill database came from Falconbridge between 1983 and 1986, and the 93% recovery assumption comes from 1985 testwork. The supporting technical report is due on SEDAR+ within 45 days of October 8, and Epic says modern metallurgical work is under consideration.
They feed a revised NI 43-101 resource expected in the coming months. GMV says that work will determine which parts of the 688,000-ounce Inferred resource could move to Indicated or Measured; the outcome is not yet known.
Core is at the Saskatchewan Research Council lab, but ATHA has not given a date. Until assays arrive, the 3.4 km trend rests on radioactivity readings. No uranium grades have been measured.
Epic Gold and GMV Minerals do, both entirely Inferred. ATHA’s release reports no resource estimate for the RIB Corridor.
Sources
- Newsfile: Epic Gold Announces 440,000 Ounce Inferred Mineral Resource Grading 0.98 g/t at the Hawkins Gold Project, Ontario, October 8, 2026
- Newsfile: Epic Gold Announces Share Consolidation, May 25, 2026
- ACCESS Newswire: GMV Minerals Announces Assays from 2026 Diamond Drill Program including 12.64 gpt Gold over 4.88 m in MHC26-14, October 7, 2026
- ACCESS Newswire: GMV Minerals Engages Machai Capital for Digital Marketing, January 19, 2026
- ACCESS Newswire: ATHA Energy Successfully Completes Diamond Drilling at RIB North Discovery, Expanding Strike Length to 3.4 Km, October 7, 2026
- Stockwatch: ATHA Energy Provides Board of Directors Update (market cap at August 28, 2026 close), August 31, 2026
Editorial Disclosure
Securities discussed: Epic Gold Corp. (CSE: EPG; OTCQB: NFLDF), GMV Minerals Inc. (TSXV: GMV; OTCQB: GMVMF), and ATHA Energy Corp. (TSXV: SASK; OTCQX: SASKF). aktiego.com has not received any compensation from any company mentioned, their management, investor relations representatives, or any third party. No staff member or principal of aktiego.com holds a position in any security mentioned at the time of publication. Press release dates verified against named wire services: Epic Gold, October 8, 2026 (Newsfile); GMV Minerals, October 7, 2026 (ACCESS Newswire); ATHA Energy, October 7, 2026 (ACCESS Newswire). NI 43-101 is the Canadian standard governing public disclosure of mineral resource estimates. Epic Gold: resource is entirely Inferred; assumes US$3,500/oz gold and 93% recovery based on 1985 testwork, with no modern metallurgical work; a substantial portion of the drill database is historical (1983 to 1986); project held under option; no PEA, PFS, or feasibility study; technical report not yet filed; 1-for-5 share consolidation effective June 3, 2026; non-brokered private placement closed October 2, 2026; market cap estimates range from roughly C$8 million to C$15 million, implying elevated volatility and thin liquidity. GMV Minerals: drilling sits within an existing Inferred NI 43-101 resource; reported intervals are core lengths and true widths are not stated; 2025 PEA base case uses US$2,500/oz gold, with a US$4,000/oz sensitivity case, and includes Inferred resources; the company disclosed a five-month digital marketing engagement with Machai Capital dated January 15, 2026, unrelated to aktiego.com’s coverage, with no extension found; market cap estimates range from roughly C$11 million to C$26 million. ATHA Energy: results are preliminary downhole gamma probe readings, not chemical assays; assays pending; intervals are core widths and true thickness is undetermined; no resource estimate reported for the RIB Corridor; market cap approximately C$482 million at the August 28, 2026 close, large relative to the rest of this roundup. Forward-looking commentary regarding exploration outcomes, resource estimates, and financing is opinion only. References to individual companies are for market context and analytical purposes only and do not constitute investment recommendations. Small cap and micro-cap stocks listed on the CSE, TSX, TSXV, and Nasdaq are speculative investments carrying significant risk including potential total loss of capital. Coverage on aktiego.com is provided for informational and educational purposes only. aktiego.com is not a registered investment advisor. Nothing in this article constitutes financial, investment, or professional advice. Readers are encouraged to conduct their own due diligence and consult a qualified financial advisor before making any investment decisions. For more information please see our full DISCLAIMER.
