Final report to 14 March 2018 EL 30810

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 ELs 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. Ripple and Armour are taking a basin - wide approach, using expensive large scale geophysical geochemical and geological studies in order to select the optimal targets for expensive deep drilling. The NT moratorium on onshore petroleum exploration has stymied the combined Armour - Ripple program, and only shallow targets are being retained. Base metal exploration within many of these Licences is challenging because of the rugged topography and deep cover geology. Within EL 30810 a compilation of previous work had identified prospective outcropping synclines of Lynott formation abutting a NW-SE trending fault, to the southeast of the historic Leila Yard prospect. This implied that the target HYC member of the Barney Creek formation lay at depths of greater than 700m. Given that this critical sequence was missing only a few kilometres to the north west and that this fault set was not known to be mineralising, these targets were not highly rated. No fieldwork was conducted. It was concluded that no shallow targets existed within EL 30810 and it was therefore surrendered.