Weapon Reticle:  Texture Face Materials


  
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6.  UV Unwrap UV texture

Note:
For this example, I'll UV Unwrap the UV Texture with 'Project From View' while in Top Ortho View.

Plane selected:  Edit mode

Top Ortho View
3D View menu >> View >> Top
3D View menu >> View >> Orthographic

UV Unwrap
U key
or
3D View menu >> Mesh >> UV Unwrap
Select a UV Calculation type



   
7.  UV map the UV texture to the Weapon Reticle image

Load Weapon Reticle Image
UV/Image editor >> Image
Open
Select Weapon Reticle image
Map to image



    
8.  Texture Face:  Enable Tex and Alpha buttons

Plane selected:  Edit mode

Buttons Window menu >> Editing (F9)
Texture Face tab
Active Face Mode
Tex button enabled
Active Face Alpha Blending (Transp)
Alpha button enabled


 
   
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