EL 30494 Bone Creek First Annual Report year to 7 April 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 rugged topography and cover geology. Previous exploration by BHP and MIM relied on airborne EM as a target generating technique. This technique continues to have problems due to the extensive conductors in the cover and host sequences. Locally saline water has been an additional problem. The previous drilling results were compiled against publicly available geophysical data. This revealed that there is widespread shallowly buried copper and lesser zinc lead mineralisation within the EL area. The regional faults appear to play a role in copper distribution, which is interpreted as being hosted by the Wollogorang formation. A basin wide study was commissioned using Frogtech analysis. This used all known geological and geophysical data to model the basin structure and depth to Wollogorang formation a large area, including all of EL 30494. The EL contains a prospective fault bound basin adjacent to basic volcanics. This is a classic site for metal deposition. Targets are shallow and more advanced than in any other Ripple McArthur River tenements. Ripple has planned a leakage geochemical survey and subsequent drill program within the EL area.