Power One Resources Corp. (TSXV: PWRO) has announced receipt of an exploration permit to advance diamond drilling at its 100%-owned Pecors Project, located approximately 14 kilometres east of Elliot Lake, Ontario. The permit authorises mechanised diamond drilling from two approved pad locations and clears the way for a planned approximately 1,500-metre vertical hole targeting the deep-seated Zd1 geophysical anomaly. The milestone marks a significant step in the company's strategy to directly test a large buried intrusive system that previous drilling identified as host to nickel, copper, and platinum group element mineralisation. Investors may be watching closely given the scale of the Pecors magnetic anomaly and the multi-commodity potential the company has outlined.

Key Points

  • Power One Resources Corp. (TSXV: PWRO) announced receipt of its Pecors Project exploration drill permit on September 16, 2026.
  • The permit enables a planned approximately 1,500-metre vertical diamond drill hole targeting the deep-seated Zd1 geophysical anomaly.
  • Historical drilling in 2015 returned 0.351 g/t PGE, 1,053 ppm copper, and 395 ppm nickel over 12.0 metres beginning at 917.5 metres downhole.
  • Investors should watch for updates on drill contracting, mobilisation, and commencement of the initial hole.

Pecors Zd1 Target and the Case for Deeper Drilling

The Pecors magnetic anomaly measures approximately 12 kilometres long by 4 kilometres wide and is largely concealed beneath thick Huronian sedimentary sequences. A 2018 helicopter-borne ZTEM survey, followed by three-dimensional inversion modelling of resistivity data to approximately 1,500 metres depth, identified two deep-seated anomalous features designated Zd1 and Zd2. Comparison of those models with the 2015 drill traces confirmed that the historical holes did not adequately test either feature, providing the geological rationale for the deeper, more targeted programme Power One is now cleared to undertake.

What the 2015 Drilling Established at Pecors

Two holes drilled in 2015 offered the first meaningful subsurface test of the Pecors system, intersecting gabbroic rocks beneath the Huronian cover and confirming the magnetic anomaly is at least partly associated with a substantial mafic intrusive body. Hole P-15-22 returned 0.351 g/t PGE, 1,053 ppm copper, and 395 ppm nickel over 12.0 metres beginning at 917.5 metres downhole. The second hole, P-15-23, remained within gabbro when drilling ended at approximately 1,317 metres, the limit of the equipment available to the historical operator, leaving the deeper Zd1 and Zd2 targets untested.

Gold Discovery Broadens Pecors Multi-Commodity Potential

The release states that more recent drilling and analytical work produced the first reported gold mineralisation at Pecors, with results including 1.025 g/t Au over 1.5 metres in hole P02401, alongside additional anomalous gold intervals. The company notes this discovery demonstrates that mineralisation is not restricted to historically recognised uranium-bearing horizons or the deeper Ni-Cu-PGE gabbroic rocks. The disclosure suggests Pecors may represent a more complex polymetallic system than previously understood, adding a further dimension to the investment case ahead of the planned deep drill programme.

Permit Structure Provides Flexibility for Follow-Up Work

The exploration permit encompasses two approved drill pad locations, which the company states provides flexibility to undertake additional drilling should results from the initial hole, geological observations, or subsequent technical interpretation warrant follow-up testing. CEO Wazir Khan commented that receiving the permit moves Pecors into its next stage of exploration and that the immediate objective is to drill approximately 1,500 metres to directly test the Zd1 target at depth. Power One stated it will provide further updates on drill contracting, mobilisation, and the anticipated commencement of drilling as preparations advance.