Vango Mining Ltd (ASX:VAN) non-executive director Yan Chao Guo has demonstrated confidence in the company's exploration strategy at the Marymia Gold Project in Western Australia with the purchase of shares in on-market transactions.
On January 11 and 12, Guo acquired 1.2 million shares at 7.7 cents per share in a direct interest, increasing the total number of securities held in that interest to 99,253,706 with a further 64,585,548 held in an indirect interest.
This move follows purchases made between December 29 and 31 where Guo acquired 1,523,568 shares at 6.2 cents per share in the direct interest.
Bonanza gold zone
At Marymia, the company recently hit a bonanza-grade intersection at the Trident Extension zone of 9 metres at 26.2 g/t gold from 137 metres, including 2 metres at 102.2 g/t from 139 metres.
This intersection represents a significant zone of mineralisation a further 250 metres to the northeast of the previously announced Trident resource of 410,000 ounces at 8 g/t.
The company believes the results could highlight the potential for a contiguous mineralised zone from Marwest/Mars deposit and Trident.
Vango remains on track to deliver a resource upgrade at the Marymia Project in the first half of this year.