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Canterra boosts Lundberg copper-zinc indicated resource by 55%

The updated Lundberg resource totals 26.1 million indicated tonnes grading 0.36% copper and 1.31% zinc, with an additional 870,000 inferred tonnes.

Reported · Written up by our desk · Mining

Canterra Minerals said it increased the indicated resource at its Lundberg copper-zinc deposit in Newfoundland by 55%, after drilling that followed its 2024 acquisition of Buchans, according to Mining.com.

The updated Lundberg resource comprises 26.1 million indicated tonnes grading 0.36% copper, 1.31% zinc, and 0.56% lead, plus 5.02 grams silver per tonne and 0.06 gram gold. It also includes 94,800 tonnes of copper, 341,600 tonnes of zinc, 146,200 tonnes of lead, 4.2 million ounces of silver, and 51,400 ounces of gold.

Canterra also reported another 870,000 inferred tonnes grading 0.48% copper and 2.21% zinc, containing 4,200 tonnes copper, 19,200 tonnes zinc, 9,900 tonnes lead, 580,000 ounces silver, and 7,800 ounces gold.

Mining.com also noted that analysts said the higher-confidence resource supports Lundberg as a large open pit copper-zinc resource at a past-producing site, and that Canterra shares rose 4% to 13 cents on Tuesday morning.

Latest closeGold $4,150.40 ▼0.3%|Silver $60.99 ▲1.7%|Copper $6.659 ▲2.6%

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