Canterra Minerals has reported a substantial increase in the Indicated Mineral Resource at its Lundberg Deposit, located in the Buchans District of Newfoundland. This new estimate, which is effective as of September 2, 2026, shows a 55% growth in the resource, expanding it to 26.1 million tonnes. The Lundberg Deposit is noted for its significant copper and zinc resources, positioning it as a crucial element for the future development of the broader Buchans mining area.
Chris Pennimpede, President and CEO of Canterra, highlighted this update as a confirmation of the Lundberg Deposit’s potential in one of Newfoundland’s most significant mining districts. The company is focusing on the development of the Buchans District, leveraging the Lundberg resource as a cornerstone for further exploration and mining activities.
With the increase in the indicated resource, Canterra is expected to further advance its operational plans in the region. The Buchans District is known for its rich mineral deposits and active mining history, which may draw additional investment and interest from stakeholders in the mining sector. The emphasis on exploring and developing multiple deposits in this district indicates a strategic approach to enhancing the company’s resource base and operational efficiency.
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