TORONTO, Nov. 26, 2025 /PRNewswire/ – Power One Resources Corp. (TSX-V: PWRO) (“Power One” or the “Company”) is pleased to announce the first-ever discovery of gold mineralization at its Pecors Property, located east of Elliot Lake, Ontario. This milestone broadens the project’s exploration scope, historically focused on uranium and base metals, and positions Pecors as a compelling multi-metal target.
“This is a game-changer for Pecors,” added Khan. “To identify gold for the first time on a property with a uranium legacy is a rare and valuable breakthrough —especially as gold spot prices test US$ 4,100 per ounce.”
Power One controls one of the largest contiguous land packages in the Elliot Lake district, a region renowned for uranium mining and increasingly recognized for critical and precious metals. In addition to uranium, nickel, copper, platinum group metals (PGMs), and rare earth elements (REEs), the newly confirmed gold significantly enhances the property’s polymetallic potential.
Gold Discovery Highlights from 2023–2024 Drilling
The Company’s 2023 drill program focused on shallow, near-surface REE targets at Pecors. During this program, drilling unexpectedly encountered a gold-bearing system, marking the first-ever gold discovery on the property.
Project Development Update
The 2023–2024 drill program, completed in early 2024, was impacted by the hospitalization and subsequent passing of the project manager, due to this the core was relocated to a secure off-site facility. Power One is actively working with all relevant parties to recover the core for re-logging, re-sampling, and expanded testing.
The assays completed to date covered only select elements. Following the identification of gold, Power One intends to conduct further sampling of the gold-bearing zone, along with additional analysis for REEs, uranium, and other metals of interest.
Gold highlights include:
- 1.025 g/t Au over 1.5 meters in hole P02401 starting at 242m downhole.
- Multiple anomalous intercepts ranging from 0.035 to 1.25 g/t Au in hole P02403
Strategic Timing Amid Record-High Gold Prices
The discovery coincides with a historic gold bull market driven by inflation, global instability, and central bank accumulation. Wazir Khan adds “Gold is continuing to outperform, and this discovery adds a new layer of potential at Pecor’s. We are in the early stages of unlocking what appears to be a very large, polyphase system.”
Polymetallic Potential and Large Land Package
Pecors spans an 18 km by 4 km magnetic anomaly within the Elliot Lake uranium camp, one of Canada’s most prolific uranium districts. The project is located just east of the Eco Ridge deposit, a known REE and uranium-bearing system. The Elliot Lake region has a long and rich mining history, producing over 300 million pounds of U₃O₈ from the 1950s through the 1990s. Elliott Lake was a Global leader in Uranium production, however 1959 the United States announced by 1962 they would cut all Canadian Uranium imports. Fast forward to today this presents an opportunity for Ni-Cu-PGM’s as these commodities were never exhausted or tested much due to the low commodity prices back then. Elliot Lake was considered the premier jurisdiction globally for uranium mining, with mines such as Quirke, Denison, and Stanleigh establishing Canada’s leadership in the sector.
Mineralization at Pecors is hosted in quartz-pebble conglomerates and arkose of the Matinenda Formation, intruded by Nipissing diabase sills. Narrow conglomerate zones averaging 4–5 ft thick over ~1300 ft strike, with uranium grades averaging 0.05% U₃O₈. These characteristics combined with a large 18km x 4km magnetic anomaly, high light the property potential for a polymetallic exploration including Ni-Cu-PGMs which were largely untested during the historic uranium focused mining period.
The property also includes a historical, non-NI 43-101 uranium resource estimated by Rio Tinto in 1977, comprising approximately 20 million tons grading 0.037% U₃O₈ (14.8 million pounds U₃O₈). . (see Mineral Title: MDI41J08NW00060) Power One is treating this estimate strictly as historical information only, consistent with NI 43-101 guidelines. The Issuer is not treating the historic estimate as current as a Qualified Person for the Issuer has not completed sufficient work to classify the historic estimate as current. Power One has not yet done exploration work to verify or classify the historical estimates as a current mineral resource, and the Company or the QP is not treating the historical estimates as a current mineral reserve or resource.
Additional confirmed and historical mineralization includes:
- Nickel, Copper, PGMs – Including 0.33 g/t Pt+Pd+Au, 0.11% Cu, 0.04% Ni over 12 meters in hole P15-23.
- Rare Earth Elements (REEs) – Stratigraphically aligned with nearby known REE zones (e.g., Eco Ridge)
- Possible Hydrocarbon Indicators – Ultra-mafic geological signatures suggest potential for hydrocarbon presence, adding another dimension to the property’s polymetallic potential
Proximity to Eco Ridge and Strategic Potential
The Pecors Property’s location just east of the Eco Ridge deposit provides significant strategic upside. Eco Ridge is hosted in the Matinenda Formation, with known mineralization including uranium, yttrium, and light REEs. Owned by Radio Fuels Resources Corp., a subsidiary of Palisades Goldcorp Ltd., its geological setting and structural controls provide a compelling analog for Power One’s land package, offering the potential for similar polymetallic systems along strike and in structurally analogous zones. (Ontario Geological Survey – MDI000000000961; Palisades News Release, 2025)
Next Steps
With gold now confirmed at Pecors, Power One plans to:
- Re-log and re-sample the drill core to refine geological understanding
- Conduct further sampling of the gold-bearing zone, along with re-assaying for REEs, uranium, and other metals
- Perform structural analysis to understand controls on the gold system
- Plan follow-up drilling to assess the extent and continuity of gold zones
Qualified Person
The technical content of this release has been reviewed and approved by Mike Kilbourne, P.Geo., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Kilbourne is Independent of the Company.
ON BEHALF OF THE BOARD
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements that reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release relate to, among other things: the completion of the proposed Arrangement. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There is no assurance any of the conditions for closing will be met. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE Power One Resources Corp.
