where is the thorium

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Reefton Mining: Any Potential? (RTM) Remove Favourite

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Ianwc - 27 Jan'05 - 12:35 View 'Ianwc' profile



http://www.reeftonmining.com.au/

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.

* 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.

ASX link for RTM...http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=RTM#chart
2004 Annual Report...http://www.reeftonmining.com.au/pdf/27-10_Reefton_2004_AR.pdf
Australian Listing http://tinyurl.com/3olf6

Reefton Mining N.L. ("Reefton") is a public company listed on the Australian Stock Exchange, and the Alternative Investment Market ("AIM") of the London Stock Exchange.
Reefton is actively exploring for diamonds, tantalite and precious and base metals within its tenement holdings located in Namibia.
Reefton's core Namibian project is the Skeleton coast Diamond Project, which consists of four Exclusive Prospecting Licences located at Henties Bay, Mowe Bay, Cape Fria and Kunene River in North Western Namibia that cover a total of 310 kilometres of Diamond bearing beaches of Namibia's Skeleton Coast. Records from Namibia's Ministry of Mines and Energy show that diamonds have been recovered from Reefton's tenement areas, and that during the 1960's prospecting returned grades of up to 163 carats of diamonds per 100 cubic metres of material and the first two explorative programmes.

Reefton Concessions..


Charts


Fundamental Data
Sector
Mkt.Sector AIMT Mkt.Segment AIMI
Turnover 0.06 Profit -0.93
Norm EPS -0.52 PE Ratio -
Market cap 9.39 NMS 1,000

News
13/04/05 12:18 UKREG Holding(s) in Company
13/04/05 10:45 UKREG Issue of Equity
07/04/05 08:00 UKREG Further re: Licences Renewal
05/04/05 11:00 UKREG Licences Renewal Status
01/04/05 09:10 UKREG Directorate Change
31/03/05 09:30 UKREG samples recovered


AIM CHART SINCE FLOTATION


ASX CHART..


Live Chart...


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nmitra - 13 Apr'05 - 11:02 - 3606 of 3662


is it good or bad news?

Poker Player - 13 Apr'05 - 11:03 - 3607 of 3662


what does this mean ?

Can any one take a guess why they have done this

DAZ ?

r33skyline - 13 Apr'05 - 11:05 - 3608 of 3662 edit


Makes no difference does it

OwtOrNowt - 13 Apr'05 - 11:07 - 3609 of 3662


"trading is expected to commence on 18 April 2005"

news monday?

r33skyline - 13 Apr'05 - 11:09 - 3610 of 3662 edit


its only £16000 worth at 4p

eDrifter - 13 Apr'05 - 11:17 - 3611 of 3662


Could it be options for a new appointee? I'd assume they'd have to replace the Russian at some point.

r33skyline - 13 Apr'05 - 11:20 - 3612 of 3662 edit


Or are they for Vladimir Nikolaenko ?

no no skyline there for John Grobler .....of course..!

nmitra - 13 Apr'05 - 11:24 - 3613 of 3662


Or is it for Licence fee?

OwtOrNowt - 13 Apr'05 - 11:27 - 3614 of 3662


could it have owt to do with the licence renewal?

OwtOrNowt - 13 Apr'05 - 11:28 - 3615 of 3662


soz nmitra. gr8 minds and all that!

daz2004 - 13 Apr'05 - 11:37 - 3616 of 3662


Poker - I don't know, its not a great deal of shares, and they are previously partly paid shares.

eDrift - new appointment...hmmm...I wouldn't think so, as for replacing Vlad, I don't think its necessary, I was told he wasn't doing much for last 12 months...the CEO Simon Gilbert and Bradley Moore are the main drivers for the company.

daz2004 - 13 Apr'05 - 11:42 - 3617 of 3662


I'm still chewing over that 1978 report...how much has technology changed in identifying U since then? I know ground mapping radar technology has come on leaps, its the "preliminary resource of some 361,250 tonnes of U3O8 at 331 gm/t had been estimated"...the use of "preliminary" and "estimate" creates an unknown of actual estimates...

r33skyline - 13 Apr'05 - 12:20 - 3618 of 3662 edit


Reefton Mining ask the Namibian for a retraction - re Grobler article.



Reefton refutes report, requests retraction


Jesse Riseborough


Wednesday, April 13, 2005
EMBATTLED uranium explorer Reefton Mining has asked for a retraction from a Namibian newspaper that published a report casting serious doubt on the potential for uranium at the company's Erongo project in Namibia.

In a story recently published in the Namibian national newspaper, Professor John Moore of the Rhodes University Geology Department was quoted as saying he would be very surprised if Hakskeen, within Erongo, contained "real and viable" quantities of uranium.

However Reefton chief executive officer Simon Gilbert told MiningNews.net he had contacted Professor Moore regarding the story and was advised by Moore that he was quoted out of context. Gilbert said Moore had emailed this statement regarding quotes attributed to him in the story.

"I am afraid I have been miss-attributed in this article," Moore has told Gilbert.

"The reporter phoned me but I did not have any direct information regarding the Hakskeen deposit. He told me that the radiometric anomaly was reportedly related to thorium. I then told him that if that was the case then the anomaly could not be related to carnotite, as carnotite does not contain thorium.

"I then explained to him the nature of thorium anomalies and that section is correctly attributed to me. I told him that I visit the Rossing area (not Hakskeen area) on an annual basis, to show my students the difference between real and false anomalies.

All the references attributed to me regarding the nature of the Hakskeen deposit and area anomalies are incorrect, I have no knowledge of the geology of the area. I referred the reporter to Professor Jacobs and Dr Nick Stevens. It is possible he has confused statements coming from Dr Nick Stevens as coming from me."

Dr Nick Stevens, a Cape Town-based geologist who wrote his doctorate on the geology of the Hakskeen region, was also quoted in the story as saying he was very sceptical about Reefton's announcement of a new uranium discovery on March 18.

Stevens claimed the geology of the granite-based deposit is distinctly different to other known uranium deposits in the region including the ASX-listed Paladin Resource's Langer Heinrich deposit.

"It is what we call monozite, a rare earth phosphate normally associated with heavy beach sands but one that also can give off a radioactive signal," Stevens said.

Gilbert said Reefton were also awaiting a response from Dr Stevens regarding his comments to the newspaper.

"We are waiting on a response from Stevens as well which will hopefully come through today and then I would think the company would be in a position to form a response to that.

"We actually want the paper to write, essentially a retraction article because they have mislead the public in a big way. You could potentially say that article has stripped 20% off the value of the company because since that has come out we have dropped from 10c down to 8c," Gilbert said.

Meantime the company is still awaiting resolution regarding the renewal applications for exploration licences at Erongo.

Shares in Reefton today were up almost 4% this morning to 8.1c.















It would appear the report made in 1978 about the Hakskeen farm is not in agreement with Dr Steven - it
concluded high levels of carnotite (ie no Thorium) along with a known reserve. A Granite based deposit is not mentioned and it sounds suspiciously like the description of Langer Heinrich. One should seriously question the spin given in the Namibian:

The following is from 1978 report-
"A radiometric survey located the eastern
extension of the mineralized Klein Trekkopje
palaeochannel on the farm Hakskeen 89 (Fig.
32).
Carnotite mineralisation appears to be
surface accumulation confined to the northern
side of a wide calcrete basin. A fair proportion
of this mineralisation occurs in gypcrete which
accounts for the prominent surface radiometric
anomaly. The proven ore reserves are 361 250 t
of U3O8 at 331 g/t (Johnston, 1978)."

www.gsn.gov.na/pdf/uranium.pdf