The Gold Telegraph Coverage
Union Power Metals
Building the EU’s largest domestic manganese resource package, in Slovakia
Svabovce & Michalova Manganese Projects
|Slovakia, European Union (EU member state)- 24.3 Mt combined historical manganese estimate across two Slovak deposits (not NI 43-101 current — see below)
- Manganese designated a strategic raw material under the EU Critical Raw Materials Act
- Europe currently produces no domestic manganese
- Drill permit granted at Michalova; program targeted to commence around August 2026
- SLR Consulting and Luke Evans, P.Eng. engaged May 2026 for the initial NI 43-101 MRE
- Eric Sprott led the January 2026 financing, acquiring approximately 12.8%
| Deposit | Tonnes | Grade |
|---|---|---|
| SvabovceFive sub-deposits; 30.52 km² licence; 35 km of existing underground workings | 13.9 Mt | 14.47% Mn |
| Michalova14.99 km² licence; shallow geometry; drill permit granted | 10.4 Mt | 9.49% Mn |
24.3 Mt combined — described by the Company as potentially the largest manganese resource package in the EU
These are historical estimates. They are not reported as current mineral resources under NI 43-101, and a Qualified Person has not done sufficient work to classify them as current mineral resources. The Company is not treating them as current mineral resources. An initial NI 43-101 Mineral Resource Estimate for Michalova has been commissioned from SLR Consulting (Canada) Ltd. and Luke Evans, M.Sc., P.Eng., and is targeted for delivery in early 2027. Readers should not place undue reliance on the historical figures.
Source: Union Power Metals Corp. corporate disclosure and May 2026 investor presentation.
CRMA target for domestic extraction of strategic raw materials, with 40% domestic processing and a 27-month permitting track for Strategic Projects.
Manganese content by cathode weight in LMFP battery chemistries.
Distance from the licences to VW-Porsche, Volvo-Northvolt and InoBat facilities. Slovakia builds more cars per capita than any country.
Shares outstanding and fully diluted. Eric Sprott led the January 2026 financing at approximately 12.8%.
Union Power Metals is assembling a manganese position in Slovakia at the point where EU critical-minerals policy, battery-cathode demand, and a large historical resource base intersect.
Union Power Metals Corp. holds two manganese exploration licences in Slovakia — Svabovce, southeast of Poprad, and Michalova, near Brezno. Both carry substantial historical estimates from prior Central European work, and the Company describes the combined 24.3 Mt as potentially the largest manganese package in the European Union. Those figures are historical and are not current mineral resources; converting them is the purpose of the programme now underway.
The strategic argument is a policy one. Manganese is designated a strategic raw material under the EU Critical Raw Materials Act, which sets targets of 10% domestic extraction and 40% domestic processing by 2030 and offers a streamlined 27-month permitting pathway for designated Strategic Projects. Europe currently produces no domestic manganese at all, so the entire requirement is imported.
Location reinforces it. Slovakia produces more cars per capita than any other country, and VW-Porsche, Volvo-Northvolt and InoBat facilities sit within roughly 240 km of the licences. LMFP cathode chemistries — the direction much of the European battery industry is moving — contain 60–80% manganese by cathode weight.
The team is led by CEO Derrick Dao, a J.P. Morgan alumnus, and President & COO Andrey Shutov, formerly CEO of Uranium One Group, where he built a resource base in excess of 200 Mlb U₃O₈. Senior advisors are drawn from Traxys and Cunico Resources. Eric Sprott participated in and led the January 2026 financing, taking approximately 12.8% of the Company.
Near-term work is confirmatory rather than discovery-driven: a granted drill permit at Michalova, metallurgical testwork to characterise the carbonate ore, and an initial NI 43-101 Mineral Resource Estimate targeted for early 2027. The Company also holds the UA92 uranium project in Botswana, where an airborne radiometric survey has been completed.
"Europe produces no domestic manganese today, and the Critical Raw Materials Act has put a date on changing that. Our job is to convert a large historical resource base into a compliant one, in the middle of the continent’s automotive corridor."
Derrick Dao, CEO
- up to 23% Mn surface samplesSvabovce — recent surface sampling, reported July 2026
- greater than 30% MnO waste dump samplesMichalova — historic waste dump material
Source: Union Power Metals Corp. corporate disclosure, July 2026. Surface and waste-dump samples are selective by nature and are not necessarily representative of the mineralisation on the properties. They are not drill intercepts and no true widths are implied.
Formal acquisition of both Slovak exploration licences, establishing Union Power Metals as licence holder.
Permit granted and programme drill-ready. Confirmatory drilling to verify historic grades and evaluate the near-surface oxide and deeper carbonate seam.
Testwork to characterise carbonate ore processing response across both deposits, informed by earlier confirmatory results.
SLR Consulting (Canada) Ltd. and Luke Evans, M.Sc., P.Eng. engaged May 2026 to deliver the initial Michalova MRE, followed by internal economic scoping.
Planned activities and timing are the Company's current intentions and remain subject to change.
Seven 100%-owned prospecting licences targeting sandstone-hosted uranium in the Ecca Group. A drone-borne radiometric survey has been completed, with results expected during 2026. The Letlhakane deposit, cited by the Company as a nearby analogue roughly 20 km away, is not owned by Union Power Metals and its size is not indicative of results here.
- 2,414 km² licence area
- 7 prospecting licences
- ~6,630 survey line-km
The scientific and technical information presented in this profile is derived from publicly available disclosure by Union Power Metals, including news releases. Gold Telegraph Network is not a Qualified Person as defined under National Instrument 43-101 and has not independently verified the technical information presented. Readers are directed to the company's public filings on SEDAR+ for complete technical disclosure. This company does not yet have a current NI 43-101 mineral resource estimate. The tonnage and grade figures shown are historical estimates only, and are qualified in full by the statements accompanying them above.
Sponsored content disclosure: Union Power Metals has compensated Gold Telegraph Network in connection with this company profile. This content should not be viewed as independent editorial coverage. Readers should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.
Forward-looking statements: This profile contains forward-looking information within the meaning of applicable securities legislation, including statements regarding planned drill programs, resource estimates, and project development. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. There can be no assurance that such statements will prove accurate.