Gungnir's drill campaign would begin in the second quarter of 2018 with 20 diamond drill holes testing six target areas over a strike length of more than 8 km.
Alberta is boosting its use of renewable energy, closing power plants that burn coal and in January increased its tax on carbon emissions by 50 percent.
Lundin has been developing Fruta del Norte for over a year, following an agreement with Ecuador’s government allowing the miner to move ahead with the gold project, the country's biggest.
Results from 11 of the 12 drilling rigs at its 85%-owned Cascabel copper-gold project, suggest there is much more intense mineralization in the property than thought earlier, the company said.
The Nicaragua-focused miner has not generated any revenue in the past two years, but narrowed pre-tax loss to £3 million in 2017 from £7.7 million a year earlier.