Enterprise Metals announced that the Department of Mines and Petroleum has granted the Company’s wholly owned Exploration Licence 70/3756-I, the key tenement that encompasses the bulk of its quartz magnetite/BIF target at Cunderdin project in Western Australia.
Enterprise Metals announced that following completion of legal and technical due diligence, its wholly owned subsidiary
Enterprise Iron Pty Ltd (“ENI”) has exercised its option to acquire a 100% interest in the Cunderdin iron exploration project by purchasing all of the issued capital in Glintan Pty Ltd, the registered holder of Exploration Licence application 70/3756. The Company has also applied for a further tenement to the south of E70/3756, to cover potential southerly strike extensions of the interpreted Archaean quartz-magnetite/banded iron formation (“BIF”) units.
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