They pulled a goal back after 72 minutes through Wayne Gray, but couldn't force an equaliser.
"We showed there is plenty of character and spirit in the side. Heads did not drop and I thought we did just enough to have deserved a share of the points," he said.
"At least we showed we can compete in this division but I am the first to admit that we need to guard against some sloppy defending which lead to both Vale's goals.
"Although he too his chances well, the fact remains that Lowndes was given too much time and room to deliver the killer blows.
"That is something we have got to sort out and I am confident we will be tighter when we visit Bradford City on Tuesday."