SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of MARCH , 2003 .
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IMA EXPLORATION INC.
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(Translation of registrant's name into English)
#709 - 837 West Hastings Street, Vancouver, British Columbia, V6C 3N6, Canada
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _______
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _______
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b): 82-_____________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
IMA Exploration Inc.
(Registrant)
Date March 4, 2003 By /s/ William Lee
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(Signature)
William Lee, Director and Chief Financial Officer
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1 Print the name and title of the signing officer under his signature.
IMA EXPLORATION INC.
Suite 709 - 837 West Hastings Street,
Terminal City Club Tower,
Vancouver, B.C. V6C 3N6
Tel: 604-687-1828 Fax: 604-687-1858 Toll Free: 800-901-0058
Internet: www.imaexploration.como e-mail: info@imaexploration.com
TSX Venture Exchange: IMR - OTC Bulletin Board: IMXPF
Frankfurt & Berlin Exchanges: IMT (WKN 884971)
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NEWS RELEASE March 4, 2003
IMA CONFIRMS BONANZA GRADE SILVER VALUES AT NAVIDAD PROJECT
IMA Exploration Inc. announces that it has received check-assay results from ALS
Chemex and Alex Stewart laboratories confirming the high silver values announced
on February 3rd, 2003 at its new Navidad high-grade silver discovery. Navidad is
located in the Patagonia region of Argentina and is 100% owned by the Company.
Check assays have been performed by Alex Stewart on approximately 20% of all
samples collected to date. These samples confirm the previously reported
exceptionally high-grade silver and copper values (see Appendix Table 1). Lead
assays by Alex Stewart and subsequent re-assays by ALS Chemex show that the
samples with lead grades in excess of approximately 6% were originally given
erroneously low values (see Appendix Table 2). Alex Stewart (assayers) Argentina
S.A. is part of an international organization serving the mineral industry in
environmental, exploration, and production analytical work and has extensive
experience in umpire assays and mineral concentrate analysis.
A program of preliminary mapping, rock sampling and grid soil sampling has now
been completed by the Company's Exploration Manager, Keith Patterson, M.Sc.,
over the known mineralization at Navidad. 108 new rock samples and 297 soil
samples were collected, and results are expected shortly. The encouraging
results at this early stage of exploration at Navidad indicate the potential for
a significant expansion of previously reported bonanza grade and replacement
style mineralization. IMA's Qualified Person for the Navidad project is Dr. Paul
Lhotka, P.Geo.
IMA will be attending the PDAC conference in Toronto from March 9th to the 12th
at the Investor's Exchange, booth #2421. Shareholders and all interested parties
are invited to visit with the Company's Management at the booth to learn more
about IMA's exploration activities.
ON BEHALF OF THE BOARD
"Gerald G. Carlson"
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Dr. Gerald G. Carlson, P.Eng., Chairman
For further information please contact Joseph Grosso, President & CEO, or Sean
Hurd, Investor Relations Manager, at 1-800-901-0058 or 604-687-1828, or fax
604-687-1858, or by email INFO@IMAEXPLORATION.COM, or visit the Company's web
site at HTTP://WWW.IMAEXPLORATION.COM.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or the accuracy of this release. Cautionary Note to US Investors:
This news release may contain information about adjacent properties on which we
have no right to explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents filed with
the SEC. U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. This news
release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.
2003 Number 7
APPENDIX
(To news release dated February 3, 2003)
TABLE 1
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(Laboratory) (Laboratory)
ALS-CHEMEX ALEX STEWART
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Sample Ag Copper Lead % Lead % Ag Copper Lead
No. g/tonne % Original re-analysis g/tonne % %
------- ------- ------ -------- ----------- ------- ------ -----
1085 4,980 0.15 10.74 38.80 5,052 0.15 41.04
1088 11,900 11.16 3.56 - 12,310 12.81 4.17
1092 4,900 2.82 13.33 21.00 4,940 3.13 22.26
1096 2,210 0.33 11.31 25.50 2,241 0.32 29.40
1097 33 0.09 0.03 - 24 0.08 0.04
1100 5,650 1.42 14.09 20.90 5,659 1.49 21.88
1103 2,900 0.16 11.01 39.50 2,922 0.16 43.10
1106 18,210 10.51 3.43 - 20,525 12.53 4.12
1108 1,600 0.16 0.12 - 1,128 0.17 0.14
1111 5,960 4.61 0.81 - 5,951 5.26 0.88
1113 5 0.00 0.06 - 4 0.00 0.06
1116 518 0.02 0.03 - 306 0.02 0.04
1117 2 0.00 0.08 - 2 0.00 0.08
1120 200 0.04 0.02 - 170 0.04 0.03
1123 88 0.02 10.15 15.50 101 0.02 15.84
1127 167 0.02 7.60 8.53 174 0.03 8.75
1130 125 0.01 4.70 - 119 0.01 6.21
1132 219 0.01 2.71 - 189 0.01 3.26
Lead % re-analysis are significantly higher in lead than reported in the press
release of February 3, 2003. A slight tendency exists for Alex Stewart to report
higher grades in silver and copper than ALS Chemex.
TABLE 2 ALS CHEMEX
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Sample Lead % Lead % Sample Lead % Lead %
No. Original Corrected No. Original Corrected
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1083 13.4 50.8 1103 11.0 39.5
1084 11.1 44.5 1104 11.6 29.0
1085 10.7 38.8 1121 8.8 10.0
1086 10.0 39.5 1122 7.4 8.5
1092 13.3 21.0 1123 10.2 15.5
1094 14.3 17.5 1124 9.0 9.2
1096 11.3 25.5 1125 9.2 10.0
1100 14.1 20.9 1127 7.6 8.5
1102 10.8 27.2 1128 10.2 11.1
Complete list of new lead values for all samples which original assays were
greater than 6%. Testing by Alex Stewart laboratory has confirmed the redone
analyses are valid. Lead assays by Alex Stewart and subsequent re-assays by ALS
Chemex show that the samples with lead grades in excess of approximately 6% were
originally given erroneously low values. This was caused by precipitation of
lead-salts prior to analysis by atomic absorption therefore reducing the content
of lead in solution and resulting in the lower values of lead reported. ALS
Chemex has since modified and standardized its procedures for samples from the
Navidad project to accommodate the unusually high-grade nature of some of the
samples. All samples with original lead values of greater than 6% have been
re-analyzed by ALS Chemex.