EL 30925, EL 30926 and EL 30927 Georgina Project Area GR439 First annual 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 has taken up selected Exploration Licences within the Georgina Basin Phosphate province, on the basis that new gas pipelines will traverse this area when the NT government ends its bans on stimulated gas and oil production. A railway is also proposed. These infrastructure developments would remove the two main barriers to economic bulk fertiliser production. Previous exploration work has demonstrated that phosphate occurs extensively within the EL's, and relatively small but poorly defined resources have been reported. A large JORC compliant resource has been published for the Wonarah deposits immediately to the south. The work during the past year has been limited to a compilation of the previous data. A broad targets has been selected on the basis of previous intersections and the known association of phosphate with the Georgina Basin shelving sequences on the flanks of a basement ridge. The phosphate generally occurs within the Wonarah formation in a shoreline facies. Additionally, there are uranium possibilities in radiometrically responsive Tertiary drainages, cobalt potential in manganiferous shales and possible IOCG targets in the basement. A drilling program has been proposed, with the initial holes being step outs from previous phosphate intersections.