Investorideas.com (www.investorideas.com Newswire), a top 100 rated investment site for retail investors following mining stocks, issues a trading and news alert for Power One Resources Corp. (TSX-V: PWRO)
Power One Resources joins the TSXV’s Top Gainers list as gold continues to rise and following recent news of “POWER ONE CONFIRMS FIRST GOLD DISCOVERY AT PECORS, AND EXPANDS MULTI-METALS SYSTEM IN ONE OF CANADA’S KEY JURISDICTIONS – ELLIOT LAKE ONTARIO.”
The stock is trading at $0.1300,+0.0950, gaining (271.43%) on volume of over 2.4 million shares at the time of this report.
Power One Resources recently announced the first-ever discovery of gold mineralization at the Pecors Property, located east of Elliot Lake, Ontario. This milestone broadens the scope of the project, which has historically focused on uranium and base metals, and positions Pecors as an attractive multi-metals target.
“This is a game-changer for Pecors,” Khan added. “To identify gold for the first time on a site with a uranium heritage is a rare and valuable breakthrough, especially as spot gold prices test US$4,100 per ounce.”
Power One manages one of the largest contiguous land parcels in the Elliot Lake district, a region known for uranium mining and increasingly recognized for its 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.
Highlights of gold discoveries from the 2023–2024 drillings
The company’s 2023 drill program focused on shallow, near-shore REE targets at Pecors. During this program, drilling unexpectedly encountered a gold-bearing system, marking the first-ever gold discovery on the site.
Project development update
The 2023–2024 drilling program, which was completed in early 2024, was affected by the hospitalization and subsequent death of the project manager. As a result, the core was moved to a secure off-site facility. Power One is actively working with all relevant parties to restore the core for relogging, resampling and extensive testing.
The tests completed so far only covered selected elements. Following gold identification, Power One plans to conduct further sampling in the gold-bearing zone, along with additional analysis for REEs, uranium and other metals of interest.
Gold highlights include:
Strategic timing amid record high gold prices
The discovery coincides with a historic bull market for gold, driven by inflation, global instability and central bank accumulation. Wazir Khan added: “Gold continues 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, multi-phase system.”
Complete news:
https://ca.finance.yahoo.com/news/power-one-confirms-first-ever-165900938.html
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