Marvel Discovery Corp. (TSXV: MARV | Frankfurt: O4T |OTCQB: MARVF) has reported an update on the status of Power One Resources Corp. Power One, previously a wholly owned subsidiary of Marvel and pursuant to a plan of arrangement in 2021, became a stand-alone reporting issuer with the intention of listing its shares on the TSX Venture Exchange (TSXV).
The company announced that Power One’s common shares will commence trading on the TSXV on 18 January 2024, under the trading symbol “PWRO”. Power One’s focus is on its strategic minerals’ projects, the Pecors Property in Ontario and the Wicheeda North Property in British Columbia, of which the latter is directly tied on to Defense Metals Corp’s rare earth deposit.
The Pecors Property is located about 115 km west of Sudbury and about 16km east of Elliot Lake, Ontario. Immediately west of the Serpent River Pecors Project is Pele Mountain’s Eco Ridge uranium/rare earth element (REE) project which is now owned by Radio Fuels (CSE: CAKE).
Past work by Marvel identified a large anomaly 7kms long by 3kms wide and 2kms deep. It is prospective for copper, nickel, and platinum group element (PGE) mineralization. This property was originally explored for uranium, but recent work resulted in the search for base metals instead.
The technical report received by Power One recommends a C$520,000 programme of data analysis and a 2,000m drill programme. The work programme commenced in December 2023 and will take until late-January 2024 to complete. A copy of the Pecors technical report is available on SEDAR+ under Power One’s profile.
Marvel, listed on the TSXV for over 25 years, is a Canadian based emerging resource company. The company is systematically exploring its extensive property positions in Quebec, Ontario, and Newfoundland & Labrador.
For further information, please visit: www.marveldiscovery.ca
To read more articles like this, please visit: www.theassay.com
