Boadicea Resources Ltd (ASX:BOA) managing director Jon Reynolds has demonstrated his confidence in the company through the purchase of shares in an on-market transaction.
On February 19 Reynolds acquired 25,000 shares in an indirect interest at 23.5 cents per share, increasing the total number of securities held in that interest to 310,236 shares.
This follows a purchase by executive director Domenic De Marco on February 12 of 100,000 shares at 28 cents per share in a direct interest, increasing the total number of securities held in that interest to 309,500 with another 26,000 in an indirect interest.
Leveraged to Orion extension
The company has welcomed advanced exploration on IGO Ltd’s (ASX:IGO) Nova Mining Lease, less than 1 kilometre from the company’s Symons Hill licence, in the Fraser Range.
The Orion chonolith (‘worm-like intrusion’) has been intercepted by multiple drill holes and is interpreted to have a strike length of greater than 1,000 metres and a diameter of 80-250 metres.
IGO is advancing exploration on the potential Orion extension within the Symons Hill licence with drilling on Symons Hill expected in Q1/Q2 2021.
Of the more than 600 IGO Fraser Range mafic-ultramafic intrusions, Orion is ranked in the top three for prospectivity.