The U.S. Coast Guard has solemnly disclosed the identities of the seven individuals who tragically lost their lives when a commercial fishing vessel from Gloucester, Massachusetts, sank in icy waters 25 miles off Cape Ann last Friday.

The distress signal was first picked up at approximately 6:50 a.m. that morning, originating from the Lily Jean, a 72-foot fishing boat. The alert came via an emergency position indicating radio beacon (EPIRB) registered to the vessel.

Following the alert, Coast Guard personnel promptly attempted to establish communication with the Lily Jean. When these efforts failed, they promptly issued an urgent marine information broadcast (UMIB), seeking assistance from nearby vessels and aircraft.

In an intense 24-hour search operation, multiple aircraft, cutters, and small boats scoured an expansive area of 1,047 square miles. This endeavor led to the discovery of debris in the vicinity of where the EPIRB was triggered, as well as the grim find of one body and an empty life raft, indicating it had been deployed.

On the Gloucester pier, a poignant tribute stands—a crucifix crafted by a friend of the boat’s captain, marking the homeport of the ill-fated Lily Jean. This emblem of remembrance underscores the deep loss felt by the community.

By Saturday, Coast Guard officials, including search and rescue mission coordinators and on-scene commanders, made the difficult decision to conclude the search efforts for the remaining crew members, acknowledging that all feasible options had been thoroughly exhausted.

The crew members presumed dead have been identified as: captain Accursio “Gus” Sanfilippo; crew member Paul Beal Sr.; crew member Paul Beal Jr.; crew member John Rousanidis; crew member Freeman Short; crew member Sean Therrien; and NOAA fisheries observer Jada Samitt.

Sanfilippo, a fifth-generation commercial fisherman, and his crew were featured in a 2012 episode of the History Channel show “Nor’Easter Men,” highlighting a fishing expedition in dangerous weather conditions, The Associated Press reported. 

Christine Porper of Gloucester, Mass., pauses at the fisherman’s memorial, Monday, near the homeport of the fishing boat Lily Jean that sank with seven crew on board. (Charles Krupa/AP Photo)

Rear Adm. Michael Platt, commander of the Coast Guard Northeast District, has directed a district-level formal investigation, which is typically launched for incidents of “significant regional importance” or those that may reveal broader issues with a class of vessel or areas of technical concern.

Lt. Cmdr. Brett Igo, Coast Guard Northeast District investigation oversight coordinator, will serve as the lead investigating officer, receiving evidence and testimony using formal rules and procedures.

The National Transportation Safety Board (NTSB) will also participate in the investigation.

Authorities are investigating after a fishing boat disappeared off the coast of Gloucester, Mass., on Friday. (Robert F. Bukaty/AP Photo)

Based on its findings, the incident may be reviewed by a Marine Board of Investigation (MBI).

“The purpose of a Coast Guard investigation is to identify measures that can improve the safety of life and property at sea, not to assign civil or criminal blame,” the Coast Guard wrote in a statement.

The investigation is expected to take several months to complete.

The Coast Guard declined to answer additional inquiries from Fox News Digital.