Power One Receives Permit for Deep Drill Test at Pecors Project
News related to:Power One Resources Corp · 4 min read
VANCOUVER, British Columbia, Sept. 16, 2026 /CourierPR/ -- Power One Resources Corp. has received the necessary exploration permit to advance diamond drilling at its 100%-owned Pecors Project, located approximately 14 kilometers east of Elliot Lake, Ontario. The permit marks a significant milestone in the company’s plan to return to the Pecors Project and undertake a deeper test of the large Pecors magnetic anomaly.
The company’s immediate priority is a single vertical diamond drill hole approximately 1,500 meters in depth. This hole is designed to test the deep-seated (Zd1) geophysical anomaly identified through three-dimensional inversion modelling of historical ZTEM resistivity data. The permit provides for mechanized diamond drilling from two approved drill pad locations, offering Power One flexibility to undertake additional drilling as geological information, exploration results, and technical interpretation warrant.
"Previous drilling confirmed that the Pecors magnetic system contains gabbroic rocks with nickel, copper, and PGE mineralization, but subsequent geophysical work identified deeper targets that were not adequately tested by those holes. Our immediate objective is to drill approximately 1,500 meters and directly test the Zd1 target at depth."
The Pecors magnetic anomaly is a large regional magnetic high measuring approximately 12 kilometers long by 4 kilometers wide, the majority of which is concealed beneath thick sequences of Huronian sedimentary rocks. Multiple generations of exploration and geophysical work have progressively developed the geological model at Pecors. A helicopter-borne VTEM magnetic and electromagnetic survey completed by Geotech in 2008 identified several electromagnetic anomalies. Lake-sediment sampling conducted by the Ontario Geological Survey in 2010 identified a Ni-Cu-Co anomaly in Pecors Lake, interpreted as potentially originating from a nearby source. A 2011 three-dimensional inversion of the magnetic survey data subsequently suggested a large trough-like magnetic body extending to depths exceeding approximately 1,700 meters.
In 2015, two deep holes drilled in the Pecors Project provided the first significant subsurface test of the Pecors magnetic anomaly. The drilling intersected gabbroic rocks beneath the Huronian sedimentary sequence, confirming that the magnetic anomaly is at least partially associated with a substantial mafic intrusive system. Historical drilling in P-15-22 returned 0.351 g/t PGE, 1,053 ppm copper, and 395 ppm nickel over 12.0 meters beginning at 917.5 meters downhole, within gabbroic lithologies. The second deep hole, P-15-23, remained within gabbro when drilling ended at approximately 1,317 meters, representing the drilling capability available to the historical operator at the time.
The historical drilling established both the considerable vertical extent of the gabbroic system and the presence of nickel-copper-PGE mineralization within it. However, subsequent geophysical work identified deeper anomalous features that the 2015 drilling did not adequately test. In 2018, Geotech completed a helicopter-borne ZTEM survey over the property. Three-dimensional inversion modelling of the ZTEM resistivity data, modelled vertically from surface to approximately 1,500 meters, identified two deep-seated anomalous features designated Zd1 and Zd2.
Power One's planned approximately 1,500-meter vertical diamond drill hole represents a materially deeper and more targeted test of the Pecors system. The drill permit encompasses two approved drill pad locations, providing the company with flexibility to undertake additional drilling from those permitted locations should results from the initial hole, geological observations, or subsequent technical interpretation warrant follow-up testing.
The company's exploration model at Pecors has been broadened by recent gold discoveries. The deep Ni-Cu-PGE target represents only one component of the broader exploration opportunity at Pecors. More recent drilling and subsequent analytical work resulted in the first reported discovery of gold mineralization at Pecors, materially broadening the exploration model for the property. Results included 1.025 g/t Au over 1.5 meters in hole P02401, together with additional anomalous gold intervals.
The gold discovery is significant to the company's evolving geological interpretation because it demonstrates that mineralization at Pecors is not restricted to the historically recognized uranium-bearing horizons or the deeper Ni-Cu-PGE-bearing gabbroic intrusive rocks. The large-scale Pecors magnetic system, combined with the diversity of mineralization identified to date, supports evaluating Pecors as a potential large polymetallic intrusive-related system rather than as a single-commodity target. The company's proposed deep drilling program is designed to test the core of the Pecors anomaly while continuing to build a more comprehensive understanding of the scale, composition, and mineral potential of the overall system.
With the exploration permit now received, Power One is advancing preparations for the upcoming drill program. The company's immediate objective is to complete the planned single approximately 1,500-meter vertical diamond drill hole targeting Zd1. The permit encompasses two approved drill pad locations, providing the company with flexibility to undertake additional drilling from those permitted locations should results from the initial hole, geological observations, or subsequent technical interpretation warrant follow-up testing. The planned deep hole is expected to provide important new geological information regarding the nature, scale, and composition of the Pecors intrusive system and will assist the company in refining its broader exploration model.