RTM reefton mining nl

Get in on this share guys, it is going to fly. There is so much...

  1. 6 Posts.
    Get in on this share guys, it is going to fly. There is so much excellent news to come over the next few months!!
    URANIUM SAMPLES RECOVERED

    ERONGO PROJECT, NAMIBIA


    Drilling has commenced to assess the potential for all commodities on the Erongo
    Polymetallic Project. The first palaeochannel targeted has been drill tested
    with 3 holes. Samples have been submitted for precious metals, base metals, rare
    metals and uranium. Carnotite (uranium mineral) has been located on the surface
    as exploration utilizing ground radiometrics, soil geochemistry and drilling
    progresses.





    HIGHLIGHTS





    * Carnotite (uranium mineral) identified at surface and samples submitted
    for analysis.

    * Positive results continue from ground radiometric truthing of Hakskeen
    Uranium Target C.

    * 44% of the radiometric data is 2 times background indicating an extensive
    anomalous structure.

    * 5% of the radiometric data is 5 times background indicating a highly
    anomalous uranium source.

    * Initial results of wide spaced drilling show shallow anomalous
    radiometrics downhole.





    Background



    The deeply eroded Southern African terrain contains an abundance of world class
    orebodies in regolith areas of deeply weathered profiles or large areas of fresh
    outcrop. Alluvial systems both conceal orebodies and carry indicators of
    precious metal, base metal, rare metal and uranium mineralisation.



    Orebodies of the size of the Navachab Gold Mine (126,000,000 tonnes containing
    4,700,000 ounces of gold) located adjacent to the Erongo concessions have been
    difficult to locate due to the erosional regime. The detailed examination of
    these alluvial systems, particularly the deeper concealed palaeochannels
    (deposited when the climate was humid subtropical) is expected to present
    exploration targets for significant mineralisation.



    The first palaeochannel target is located in the south west corner of the
    Company's Erongo project area within Namibia's uranium province. Uranium
    mineralisation is typically found in palaeochannels and examination of this
    system led to the Hakskeen Uranium discovery.





    Uranium Development



    The Company is pleased to announce it has recovered samples of carnotite (yellow
    oxide mineral of uranium) from the surface of Hakskeen Target C at the Erongo
    Project in Central Namibia, Africa.



    The carnotite samples were collected during soil sampling of Target C and they
    have been submitted for analysis.



    Soil samples have also been collected from the radiometric lines of Target C and
    submitted for assay.



    A radiometric ground truthing initiated a ground radiometric survey to
    investigate the Hakskeen area. Airborne anomalies cover over 68 square
    kilometers.



    Positive results have continued from a detailed radiometric survey of Target C.



    The ground radiometric survey has now tested a total of five lines and is
    continuing. Each line was approximately 1,000 metre in length with 400 metre
    line spacing (reduced from 1,000 metre) and 20 metre spacing of readings.



    The radiometric data returned significant results with 44% of the data at +1
    standard deviation or 2 times background (anomalous), and 5% +2 standard
    deviations or 5 times background (highly anomalous).



    An RC rig has completed an initial 3 holes (TC3/RC1, TC3/RC4 and TC3/RC8) of a
    planned 19 holes.



    The holes have been logged and the samples are to be submitted for assay.



    Radiometric surveying, soil sampling and drilling are continuing at the Erongo
    Project.



    Award of Tender for Laboratory Work - SGS



    Reefton has engaged SGS Lakefield Research of South Africa in Johannesburg to
    complete all laboratory analysis of the samples recovered from the Erongo
    Project.



    SGS is recognised as the world leader in quality laboratory analysis.



    This appointment further underpins the commitment of the Directors to utilising
    the best resources available on the Erongo Project to ensure timely results with
    confidence.



    Namibia



    Namibia is located in south western Africa and is politically stable with no
    civil unrest and low sovereign risk. The country became an independent republic
    in 1990 breaking away from South Africa. Namibia is a former German colony and
    is governed by Dutch Roman law.



    Under the Namibian Mining Act, Reefton tenure comprises Exclusive Prospecting
    Leases and the Company has applied for the inclusion of uranium in the
    development rights.



    The country has been actively mining uranium for decades including Rio Tinto
    Limited's Rossing Uranium Mine (located to the south of Hakskeen) which opened
    in 1975. Paladin Resources Limited's Langer Heinrich deposit (also located to
    the south of Hakskeen) is planned to start mining in 2006.



    An ASX announcement containing some pictures and a map of the area can

    be found on the ASX website www.asx.com.au





    G R Hemming

    Director



    Enquiries to:

    Mr Simon Gilbert - Chief Executive Officer

    Chief Executive Officer

    Phone: +61 (0)8 9322 7822

    Facsimile: +61 (0)8 9322 7823



    This report accurately reflects information compiled by Mr G.R. Hemming,
    MAusIMM.,MAIG., a Director of Roscoria Pty Ltd, who has sufficient experience
    which is relevant to the style of mineralisation and type of deposit under
    consideration and to the activity which he is undertaking to qualify as a
    Competent Person as defined in the 2004 Edition of the 'Australian Code for
    Reporting of Exploration Results, Mineral Resources and Ore Reserve'. Mr Hemming
    consents to the inclusion in the report of the matters based on his information
    in the form and context in which it appears.





    This information is provided by RNS
    The company news service from the London Stock Exchange


 
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