EL 30750 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 30750 is challenging because the main target Barney Creek formation lies under unconformities and cover sequences. A Frogtech basin wide analysis of the entire McArthur Basin was used by Ripple to determine that the main area of mineral potential must lie in the east of the EL, as the target formations are too deep in the centre. The EL is close to known mineralisation and is in an area of geological complexity. Work during 2016 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. Seismic and drilling by Armour and Ripple will be useful in assessing the metal potential of EL 30750.