There's been some talk of a GE to resolve this, with a better/more clear/confirmed mandate than the referendum. While that is superficially attractive, the Fixed Term Parliaments Act 2011 is an obstacle. It provides (in effect) that there can be no GE before 2020 unless either (I) there is a parliamentary vote of no confidence in the Government or (ii) two thirds of MPs vote in favour.
While two thirds might vote in favour I wouldn't bet on it, and I am sure there would be a lot of politicking around it. It could be why Hunt has proposed a second referendum - which I agree s a crap idea, but is practicably more plausible than a GE. Without a GE, what politician is going to claim a mandate for carrying on as we are? The EU don't want to wait, and, as has been noted, could expel us under Art 7 if we don't behave correctly (which could include not responding to democratic wishes). I personally don't think they would, but it adds another layer of complexity to a horribly complex position.
Unbelievable that no UK political faction had thought through and planned for the practical consequences of a Brexit vote!
Odious as he is, Boris may be the man for the PM job because he has populist appeal and just might bring off a looong delay to a GE, or persuade people his crappy EU deal is better than anyone else's identical crappy EU deal.