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Enterprise acquiring 7 gold-copper-zinc prospective tenement applications

Enterprise Metals Ltd. said Oct. 9 that it entered a deal to fully acquire Calypso Minerals Pty. Ltd., which holds seven tenement applications prospective for gold, copper and zinc in Western Australia.

The addition of tenements covering 733 square kilometers will expand the company's Murchison project landholding to 820 square kilometers.

Under the deal terms, Enterprise agreed to pay A$170,000, comprising A$50,000 in cash and A$120,000 in shares, to acquire exploration license applications 20/911 to 916 and E20/918, as well as a considerable quantity of historic exploration information.

The company plans to undertake a detailed airborne electromagnetic survey and soil sampling on the properties.