Proactive Investors has reported the on-market share purchase by Boadicea Resources Ltd (ASX:BOA) Managing Director Jon Reynolds further strengthening support in the company’s direction. The company has applied for a new exploration licence in the Charters Towers gold province of north Queensland, which has been identified as prospective for Ravenswood-style gold mineralisation.

Boadicea Resources – Boadicea Resources MD demonstrates confidence in mining strategy with purchase of shares

Reynolds acquired 20,833 shares in an indirect interest on 3 December, increasing the total number of securities held in that interest to 183,725.

Gold strategy

Boadicea intends expanding exploration efforts into the prolific Charters Towers gold region of north Queensland after applying for a new exploration licence.

The proposed South West Ravenswood tenement covers 117 square kilometres and is around 20 kilometres southwest of Ravenswood Gold Mine, which is owned and operated by Ravenswood Gold, a private company owned by EMR Capital and Golden Energy and Resources Ltd (SGX:AUE).

Managing director Reynolds said: “The company has been focused on the development of new gold exploration targets within Australia.

“This started with the acquisition of the Koongulla project in the Paterson Province of WA.”