Power One Receives Drill Permit to Deep Test Pecors Magnetic Anomaly
Power One secured a permit for a deep test at the Pecors deposit, though the $10,000 cost necessitates a capital raise.
Power One Resources Corp. has secured the exploration permit required to advance diamond drilling at its 100%-owned Pecors Project in Ontario. The immediate objective is to drill a single vertical diamond hole approximately 1,500 metres deep to directly test the Zd1 target, which was identified via 3D inversion modelling of ZTEM resistivity data. The permit allows for mechanized diamond drilling from two approved drill pad locations, providing flexibility for future drilling based on geological results.
The company highlights a broadened exploration model at Pecors, including the recent discovery of gold mineralization (1.025 g/t Au over 1.5m) alongside known Ni-Cu-PGE mineralization. Additionally, Power One Resources Corp. notes the optioning of the Wicheeda North Project to Primary Hydrogen Corp., allowing them to earn up to a 75% interest.
Power One Resources Corp. (PWRO) received a drill permit for its Pecors project, a procedural milestone the company had filed for on July 8, 2026, and announced its return to the site on May 13, 2026. While the approval supports long-term exploration efforts, it does not materially alter the company's immediate financial reality or near-term stock valuation. The news is incremental and follows a previously communicated exploration timeline, introducing no new revenue streams, strategic partnerships, or capital infusions. The core risk remains the company's severe liquidity constraint, which is entirely unaddressed by this operational update.
Power One Resources Corp. (PWRO) is a pre-revenue exploration company focused on critical minerals and precious metals in Canada. Its flagship asset is the Pecors Project in Ontario, situated in the historic Elliot Lake uranium district. The project covers a 12 km x 4 km magnetic anomaly where historical data and recent drilling have identified Ni-Cu-PGE mineralization, uranium potential, and recently, gold mineralization. The company is also evaluating natural hydrogen ("white hydrogen") potential based on historic bitumen staining and serpentinized mafic/ultramafic units.
The company also holds a secondary interest in the Wicheeda North Project in British Columbia, which is focused on rare earth elements (REE). Located near Defense Metals Corp.'s Wicheeda project, Power One Resources Corp. holds a 25% interest, with Primary Hydrogen Corp. having an option to earn up to 75%. The company is currently in the exploration and early evaluation stage, and no NI 43-101 resources have been declared.