Annual activity report for EL 30076 to EL 30080 Barney Creek Project Area 2 Second annual report year to 9 May 2016

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 selected Exploration Licences within areas inside the Armour Energy permits, and has been cooperating with Armour in order to evaluate these EL's for their base metal potential. This cooperation has involved modifications and extensions to the Armour program so that it has greater relevance for base metal exploration. Additionally the techniques and concepts used in hydrocarbon exploration overlap with leading edge base metal exploration. Base metal exploration within these Licences is challenging because of the cover geology. Breccia hosted and stratiform mineralisation trends into the area from outcropping areas, the most notable being the Bald Hills - HYC trend and Western Emu fault. Previous exploration by did not locate any geochemical anomalism within the EL 30080 area. Ripple has made an in depth study of the distribution of Barney creek formation in the EL environs and believes that there is a likelihood of a repetition of HYC style mineralisation along the margins of the Batten trough north of Merlin mine, on the north side of the Mallapunyah fault system, and within the Watershed basin on the east side of the Tawallah fault. During this year, a basin wide Frogtech has confirmed the structurally favourable sites north of Merlin in EL 30079 and in the Watershed Basin in EL 30080. A sponsored CSIRO study has identified other potential SEDEX hosts within the McDermott, and Wollogorang,formations. This particularly applies to EL 30078. The proposed program for the next 24 months should begin with geochemistry trials. This may require shallow bedrock drilling within EL 30080. Ripple Resources will share in any Armour Energy work (mainly drilling and geophysics) which may be of relevance to mineral exploration. It is expected that there will be deeper drilling within this time period.