Vancouver-based gold explorer Asante Gold Corp reported that its President and CEO Douglas R. MacQuarrie acquired another 642,500 common shares of the company, signifying confidence in the gold explorer. The direct and indirect purchases of these shares were made at prices ranging from 17.5 to 50 cents per share. Following the latest transactions, MacQuarrie now holds, directly or indirectly, roughly 3.45 million common shares, 1.25 million share warrants and 300,000 stock options. Asante says the latest shares were purchased for investment purposes, Asante Gold is focused on the Fahiakoba Concession located in the centre of Ghana’s Golden Triangle between Perseus Mining’s Edikan and AngloGold Ashanti’s Obuasi mines.Last month the company announced “positive” results from the first phase of its maiden drill program at its Fahiakoba concession in Ghana.
The company said that drilling confirmed the discovery of narrow zones of gold mineralization in three of the 14 initial widely spaced drill holes targeting just 1.5 kilometres of the over 20.0 kilometres of “favourable shear zones” that have been outlined on the concession.