RedactedNarrative: VESSEL 1 WAS OPERATING APPX 1/4 MILE EAST OF LITTLE RIVER MARINA WHEN OPERATOR NOTICED A SMALL HOLE IN THE RUBBER BOOT ON JET DRIVE. VESSEL BEGAN TAKING ON WATER AND EVENTUALLY SUNK. OPERATOR AND BOTH PASSENGERS WERE RESCUED BY PASSING BOATS.  AREA OF THE ACCIDENT WAS APPROX 1/4 MILE EAST OF LITTLE RIVER MARINA AND APPROX 1/4 MILE WEST OF LITTLE AXE BOAT RAMP AND SW OF THE POST OAK BOAT RAMP.