The purchase increases his overall holdings in the company to 24.8 million shares.
Morgan’s purchase was part of the April 2019 placement but as a director he required approval from shareholders which was given at the recent general meeting.
Ausmex shares are currently in a trading halt pending the release of information regarding exploration results.
In May 2019, the company sourced additional drill rigs to fast-track a 15,000-metre drilling program at the Mt Freda Complex near Cloncurry, Queensland.
The program is targeting high-grade gold, copper, cobalt and massive sulphides indicative of iron-oxide-copper-gold style (IOCG) mineralisation.
Ausmex has assigned five drill rigs to several prospects including large IOCG targets.