EL 30753 First annual report year to 20 August 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 EL 30753 is challenging because the of a complete cover of rugged Bukalara sandstone. A Frogtech basin wide analysis of the entire McArthur Basin was used by Ripple to confirm the that targeted Wollogorang and McDermott formations lie within reasonable depths for exploration. EL 30753 is a small tenement abutting other Ripple EL's. It is of particular interest because of an interpreted growth fault intersection junction within its area. Even though it is not developed within Barney Creek formation, the Wollogorang and McDermott formations are considered good hosts for Sedex and breccia hosted mineralisation. Additionally, the general area has evidence of extensive mineralising hydrothermal events, as there are copper showings in the few areas exposed or drilled and an extensive hydrothermal breccia system hosting gas and sulphides is known within the adjacent Emu fault. These features are also known in the Coxco - HYC area. Work has been postponed due to the death of Aubrey McLarendon, of American Energy Partners who undertook to fund ongoing Armour and Ripple work. Alternatives are being sought. Ongoing work is planned for the EL. The areas of potential are to be investigated with trials of leakage geochemistry.