Southern Gold Ltd's (ASX:SAU) non-executive chairman Greg Boulton has demonstrated faith in the company’s Korean gold exploration strategy with the purchase of shares in an on-market transaction.
On September 25 Boulton acquired 133,528 shares and on September 28 he purchased 66,472 shares with both on-market purchases at 12.5 cents per share for a total value of $25,000.
These purchases in an indirect interest increased the number of securities held in that interest to more than 3.078 million shares.
Diamond drilling approvals
The company recently received regulatory approvals for a diamond drilling program at the Weolyu and Dokcheon projects in South Korea.
A suitable access track for a small rig has been built and drilling is underway at Weolyu.
The Weolyu program is expected to take about two months and following this, it is likely more drilling will be completed at the Aphae and Dokcheon projects.
Southern Gold managing director Simon Mitchell said: “It is great that the drill rig will be back turning at Weolyu – a program that has been much anticipated by our technical crew – which is one of our main targets.”