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But it a 52% majority sufficient, for the purposes of an advisory referendum, for the member states of the EU to infer a mandate and enact Article 50, shortcutting the UK's implied constitutional process?
Comparing a referendum of this type to a general (or other) election (particularly our own FPTP-style elections) looks like apples and oranges.
NotThamesWater
Chalfie
We've accepted less in order to for a government to be formed from a General Election so yes, it is sufficient. We are a democracy without manadatory voting so the remaining 30% potential turnout are viewed as simply failing to have an opinion as to whether we should stay or leave. They have to be considered as not caring either way. 52% of 70% is 36% of the voting population.
Yes, it's a marginal mandate but even a vote difference of 1 still counts in a democracy. And unlike parliamentary representation, where we can objectively say that a governing party lacks a mandate if it doesn't command the support of 50% of the voting population, a referendum is a very different matter. An abstention in a referendum isn't a party political issue and can't be viewed as a rejection of the existing democratic state or system. This is a direct question to the voting population on policy.