bonanza grades vs trenching samples

Not sure if we have been given the full picture yet.

From the "Bonanza Grades" announcement 22June 07.

"The high grades were encountered in what MKY now calls Exploration Target Zone 1 which is an area of approx. 12 square kilometres with a highly anomalous target zone in the north of this area of approx. 2.5 kms x 800 metres.


From today’s announcement.

Of the four costeans that were dug to intersect the observed Loveringite float train across the main trend, positive uranium results from the first three costeans (Nos 2, 3 & 5) over 85 metres strike length were obtained.

NOTE: Costeaning is the process by which miners seek to discover metallic lodes. It consist in sinking small pits through the superficial deposits to the solid rock, and then driving from one pit to another across the direction of the vein, in such manner as to cross all the veins between the two pits.



The bonanza grades seem to have been collected from a large area as opposed to the trenching.

I’m not a geologist; however it would make sense to trench all areas of the bonanza sampling. Are they already convinced of the geology not to trench all areas prior to the commencement of drilling? Will a prospective JV partner work on the other areas of the tenement, freeing up MKY to work on other tenements and preserve capital? I don’t know.

Was this announcement aimed at investors or potential JV partners?
As stated at the AGM and previously reported on this thread, MKY are in discussions with several parties re: JV's. Is this small trench sampling to say?
“Ok people, this is a taste of what is potentially contained within the tenement. Right, let’s start the bidding; I have TOE with an opening bid at 49% earn-in with $3 million expenditure within 2 years. Do I hear 45% at 3mill at 2 years...thank you BMN.....going once, going twice.....allow me to consult with the vendor..........Ladies and gentlemen the property is on the market and I will make a vendors bid at 49% with 5 mill at 18 months.....otherwise the property will be passed in for private negotiations. Going once, going twice going.....sold to the gentleman in the back row. Sir, please hold up your bidders identification for confirmation. A little higher please, ok Pee Dee En. Great I’ll note that down in the contract of sale.

(Of course, it could be any large U Co. that JV's with MKY)

Why do I get the impression we are bit players in this game?

Regards RBA.