(MENAFN- ProactiveInvestors - Australia) Vector Resources' (ASX: VEC) non-executive director Brian Williams has increased his stake in the company to over 2.34 million shares after buying more shares on market.
Williams purchased 175,500 shares for a consideration of $12,762, providing an average entry price of around $0.073.
Vector is currently in a very interesting position, with the company continuing to intersect high grade gold at the Gwendolyn East Project in Western Australia.
Gwendolyn consists of two tenements covering over 480 hectares, and are hosted within a known gold producing area in the Southern Cross region of Western Australia.
Highlighting the potential of the project, during 2012 Vector has discovered bonanza grade gold such as 5 metres at 253.33g/t gold from 24 metres, including 1 metre at 1,165g/t gold.
Past production at the site includes documented recovered gold grades of 15.7g/t gold from mining the Archaean banded iron formation hosted gold ore bodies at nearby Evanston and adjacent Blue Peter, Kitchie's and Goldies workings.
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