EL 30818 Partial Relinquishment Report covering the period from 15 February 2016 to 15 February 2022

Abstract

This report presents exploration work conducted on the relinquished portion of EL 30818, over the duration of tenure from initial grant on 15 February 2016 to relinquishment on 15 February 2022. EL 30818 is owned and operated by Ripple Resources Pty Ltd, and along with EL 30817 forms the Victoria River Project, just north of Victoria River Downs in the Northern Territory. The Victoria River Project was acquired due to the evidence of petroleum accumulation and base metal deposition within the main dome, which shows remarkable similarity to the Century Zinc deposit architecture and metallogenic processes. Existing exploration data identified geochemical peaks associated with gravity highs, indicating that blind bodies of dense structurally-controlled sulfide mineralisation lie within the domes. On 15 February 2022 11 blocks were relinquished from the title, resulting in a current area of 56 blocks (184.61 km2). No on-ground exploration work was conducted over the relinquished portion of the title during the duration of tenure from initial grant on 15 February 2016 to relinquishment on 15 February 2022. Eleven blocks were required to be relinquished from the title on the sixth anniversary of its grant date. The relinquished portions of the title were considered to be less prospective than other areas of Ripple's tenure, and were surrendered to allow the Company to focus on its identified exploration targets.