Anyone believe them? LOLReefton farm-in agreement in...

Anyone believe them? LOL

Reefton farm-in agreement in Tanzania
15:23, Friday, 16 June 2006

Sydney - Friday - June 16: (RWE Australian Business News) -
Reefton Mining NL (ASX code: RTM), in accordance with investigating
uranium exploration opportunities worldwide, has signed a farm-in
agreement with the holders of two prospecting licences covering a
potentially uranium-bearing sandstone in proximity to the town of Ngwale
in Tanzania.
The Liwale project, as it is known, is composed of two
contiguous Prospecting Licences-Reconnaissance (PLR 3723/2005 & PLR
3743/2005) that together cover 1566 sq km in the Liwale district of
southern Tanzania.
Owners of the licences have advised that the licences may
progress from reconnaissance to unrestricted prospecting licences by the
payment of the initial annual licence fees.
The uranium in sandstone model is the principal target within
the Liwale project area. This model accounts for 30 per cent of the
known uranium deposits in Africa, and includes the Kayelekera deposit
(Paladin Resources Ltd) in Malawi, 400km to the west.
The Liwale project fulfils the uranium in sandstone model
requirements in the following ways:
* Basement rocks to the east of the tenement area comprise a
tectono-metamorphic terrane, a potential uranium-bearing source.
* The exploration target is the prospective Karoo sandstone,
which is a porous sandstone unit that is interpreted to directly overlie
the basement, and palaeochannels that cut into the basement.
* Channel sampling by Uranerzbergbau of Germany between 1978
and 1982 collected 117 samples from the Karoo System. Assay of samples
taken from Salous, SW of Liwale township, returned values with an
average of 2066 ppm U3O8 over 1.6m, highlighting that uranium
mineralisation is well-known to occur in proximity to the prospecting
licences to be farmed into by Reefton.
The company plans to engage a South African-based mineral
exploration consultant to conduct the initial due diligence and
reconnaissance work on the Liwale project.