EL 30943 Calvert Hills First annual and final report year to 28 February 2017

Abstract

Ripple Resources is a fully owned subsidiary of Armour Energy Ltd. Armour has been exploring the gas and oil resources of the McArthur Basin, and has made a significant gas discovery in the Glyde sub basin. Ripple had applied for a number of Exploration Licences in the Calvert Hills area, on the basis of the recently confirmed regional SEDEX potential of the Wollogorang and McDermott formations. Previous exploration work demonstrated large scale anomalism in copper lead and zinc. The work during the past year has been limited to a compilation of the previous data. A broad target area has been recognised, but due to an untimely death, the main source of funding has evaporated, and the project abandoned. The adjoining newer EL applications have been withdrawn, and this EL is to be surrendered.