Power One Resources Corp. announced that drilling has commenced at its Pecors Property located in Elliot Lake, Ontario. Drilling was paused late last year due to numerous freeze-thaw conditions.

Drilling has now resumed with 1,400 meters planned, targeting up to 4 holes. The Pecors Property, located east of Elliot Lake, contains significant uranium mineralization where drilling in 2007 returned values of 4.3 pounds (lbs.) (0.194% U3O8) per tonne (t) over 4 m starting at 104.49m downhole and 5.9 lbs./t (0.246% U3O8) over 0.94 m starting at 122.64m. Uranium is hosted within the quartz-pebble conglomerate of the Matinenda Formation at shallow depths within the Pecors Channel.

?Channels' within the Elliot Lake uranium camp were mined extensively in the 1950's where production grades averaged 0.100% U3O8. The Pecors Channel is reported to host 20,000,000 tons grading 0.037% U3O8(0.074 lbs per ton) U3O8 or 14,800,000 lbs. of U3O8.

This resource was based on limited drilling and was estimated by Rio Tinto in 1977 with the potential to expand this resource. It is concluded that the estimate is not compliant with the requirements of NI 43-101, and it is believed that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or reserves. This estimate is viewed as a historical resource only and the figures cannot be relied upon as an accurate estimate of the volume or grade of the mineralized material.

Power-One or the QP is not treating this estimate as current mineral resources or reserves. The Pecors Property also hosts significant PGM-Ni-Cu mineralization related to the Pecors Magnetic anomaly, a large regional magnetic high extending 18 km long and 4 km wide and largely hidden beneath Huronian sediments. The source of the magnetic anomaly has been confirmed to be at least partially comprised of lithologies of gabbroic affinity by International Montoro drilling in 2015.

Hole P15-23 drilled by International Montoro intersected 0.33 g/t Pt+Pd+Au and 0.11% Cu and 0.04% Ni over 12m within contact style mafic intrusive mineralization. This style of mineralization appears similar to the East Bull PGM deposit to the east where Quest Critical Metals Inc. (formerly Canadian Palladium) reports a total indicated resources of 16.5 million tonnes at a grade of 0.93 g/t PdEq. The Property also lies immediately east of Radio Fuels Corp.

(CSE: CAKE) Eco Ridge Project where indicated resources total 22.306 Mt grading 0.045% U3O8 and 1,613 ppm REO (rare-earth oxides) and inferred resources of 36.955 Mt grading 0.046 % U3O8 and 1,560 ppm REO. The drill is on site and operations have commenced. Drill hole targets have been finalized following interpretation of the results from a 2008 VTEM and Magnetic heliborne survey.

Drill targets are focused on conductors favourable for hosting significant concentrations of uranium at the base of the Huronian sediments associated with pyrite mineralization and the underlying basement intrusive rocks for sulphide-bearing PGE mineralization. Approximately 1,000-1,400 metres are planned across 3-4 drill holes.