White Cliff Minerals (ASX:WCN) managing director Todd Hibberd has acquired 2 million shares in the company in on market trade.
He paid $0.01107 each, or a total of $22,140 , for the shares. This brings his total shareholding up to 17,497,736 shares.
Hibberd also has 3,833,334 options exercisable at $0.03 on or before 11 March 2017.
Earlier this week, White Cliff closed the US$4 million convertible note facility with New York-based investment firm Magna Equities.
It has received the first US$500,000 of the facility, which ensure it is fully funded for exploration in Australia and the Kyrgyz Republic.
Reverse circulation drilling at the Aucu project in the Kyrgyz Republic has also intersected new mineralised zones with results of: 6 metres at 13.1g/t gold, including 1 metre at 23.1g/t gold from 47 metres; 8 metres at 6.7g/t gold from 56 metres; 1 metre at 12.3g/t gold and 1 metre at 10.3g/t gold.
Aucu is part the Chanach project, which sits within a mineralised zone extending for over 2,500 kilometres, from western Uzbekistan, through Tajikistan, Kyrgyz Republic and southern Kazakhstan to western China.
Mineralisation occurs as porphyry and epithermal systems developed within magmatic arcs and structurally controlled gold deposits.
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