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 AUGUST , 2003.
-------- ----
IMA EXPLORATION INC.
-------------------------------------------
(Translation of registrant's name into English)
#709 - 837 West Hastings Street, Vancouver, British Columbia, V6C 3N6, Canada
--------------------------------------------------------------------------------
(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
--------- ---------
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
--------- ----------
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 August 20, 2003 By /s/ William Lee
------------------------------ -------------------------------------
(Signature)
William Lee, Director and Chief Financial Officer
---------------------------------------------------------------------
1 Print the name and title of the signing officer under his signature.
- 1 -
BC FORM 53-901F
(FORM 27)
Securities Act
MATERIAL CHANGE REPORT
Section 85(1) of the Securities Act, British Columbia
(the "British Columbia Act")
Section 118(1) of the Securities Act, Alberta (the "Alberta Act")
Section 75(2) of the Securities Act, Ontario (the "Ontario Act")
1. Reporting Issuer
The full name of the Issuer is IMA Exploration Inc. (the "Issuer"). The
address and telephone number of the principal office in Canada of the
Issuer is as follows:
#709 - 837 West Hastings Street
Vancouver, BC
V6C 3N6
Phone: (604) 687-1828
2. Date of Material Change
August 20, 2003
3. Press Release
A press release dated August 20, 2003, a copy of which is attached, was
released through various approved public media and filed with the TSX
Venture Exchange and the British Columbia, Alberta and Ontario Securities
Commissions.
4. Summary of Material Change(s)
Please see attached press release for details.
5. Full Description of Material Change
Please see attached press release for full details.
6. Reliance on Section 85(2) of the British Columbia Act, Section 118(2) of
the Alberta Act and Section 75(3) of the Ontario Act
Not Applicable
- 2 -
7. Omitted Information
Not Applicable
8. Senior Officer
The following senior officer of the Issuer is knowledgeable about the
material change and may be contacted by the Commission at the following
telephone number:
William Lee
Chief Financial Officer
Phone: (604) 687-1828
9. Statement of Senior Officer
The foregoing accurately discloses the material change referred to herein.
DATED at Vancouver, British Columbia, this 20th day of August, 2003.
/s/ William Lee
------------------------------------
William Lee, Chief Financial Officer
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.com E-mail: info@imaexploration.com
TSX Venture Exchange: IMR OTC Bulletin Board: IMXPF
Frankfurt & Berlin Exchanges: IMT (WKN 884971)
--------------------------------------------------------------------------------
NEWS RELEASE August 20, 2003
Gravity Survey Defines Multiple Anomalies
At IMA's Navidad Project
IMA Exploration Inc. is pleased to announce the results from recently completed
gravity and magnetic ground geophysical surveys at its Navidad Project,
Argentina. Multiple gravity anomalies have been discovered, the largest and most
important of which has a surface footprint of approximately 0.8km x 1.1km and
shows an excellent correlation with portions of the previously announced 1.6 x
1.3 km IP chargeability anomaly (see June 25, 2003 news release).
This gravity data strongly supports the previous IP results that indicate the
potential for significant extensions to defined surface mineralization both at
depth and along strike. The magnetic survey has confirmed that the large
chargeability and gravity anomalies are not caused by magnetic minerals such as
magnetite or pyrrhotite.
A detailed gravity survey such as this will outline zones where the rocks have
higher than average density. Where these gravity anomalies overlap with zones of
high IP/chargeability, the likely cause of the combined anomalies is sulphide
mineralization with or without barite. Portions of the combined gravity/IP
response at Navidad correlate directly with outcrop exposures of replacement
style galena matrix breccia at Galena Hill and with high-grade carapace breccia
mineralization on the flank of Navidad Hill.
Galena Hill Anomaly: In the Galena Hill area, the gravity survey has defined an
important anomaly with multiple peaks approximately 0.8 x 1.1 km in size. This
anomaly has a "donut-like" form with a central low surrounded by higher density
values; amplitude of this anomaly is approximately 0.6 to 0.8 milligals above
surrounding values. This complex anomaly is partly coincident with, but somewhat
smaller in size, than the previously announced Gradient and Pole-Dipole I.P.
chargeability anomaly at Navidad. The anomaly is not reasonably explained by
simple lithologic density variations and is most readily explained by the
presence of sulphide/barite mineralization. Part of the gravity anomaly is
spatially associated with mapped breccia-hosted mineralization on surface and it
correlates very well with potential extensions to this mineralization indicated
by the most intense Pole-Dipole IP chargeability anomaly on line 51,200E.
Navidad Hill Anomaly: A second gravity high of approximately 260 by 550m in
diameter is spatially associated with mapped Bonanza Grade Structures at Navidad
Hill. This anomaly may be caused by the combination of sulphide mineralization
and the denser host rock of the flow dome at Navidad Hill relative to
surrounding sediments. It covers the portion of the flow dome known to host
Bonanza Grade Structures and their strike extension. Most of the rest of the
flow dome is not represented by a gravity high.
Detailed information on the Navidad Project including the gravity and magnetic
surveys is available on IMA's web site at HTTP://WWW.IMAEXPLORATION.COM.
Gravity data acquisition was performed by Proingeo S. A., an Argentine
geophysical and topographic survey contractor. Quantec Geoscience provided
consulting services to IMA on survey design and execution, has reviewed data
quality, and built a three dimensional model of the survey results using the
University of British Columbia (Canada) inversion software. Quantec reports raw
data quality is very good. The gravity survey covers an area of approximately
2.2 by 2.5 km centred on the previously reported IP chargeability anomaly. It
includes 385 gravity stations that were measured on two lines with closely
spaced points and additional points spaced at about 100 by 200m intervals.
The magnetic survey was performed by Quantec Geoscience and covers the entire
Navidad grid (7.2 x 2.5 km) totalling 88.7 line kilometres (including a 6.2km
tie line). Data was collected at 10m intervals along lines spaced 200m apart.
Quantec made standard corrections for diurnal variations and produced plan maps
of the total field magnetic data and pole reduced data. Mapped mineralization at
Navidad, Galena, and Barite Hills is not associated with magnetic anomalies nor
is the IP chargeability anomaly. The area of the large gradient and Pole-Dipole
IP chargeability is characterized by a low, flat magnetic response that
indicates magnetite is not the source of the chargeability anomaly.
IMA Exploration Inc. has a strong treasury in excess of $4,000,000 to fund its
exploration objectives. The Company focuses on quality exploration work designed
to define economic gold and silver deposits in Argentina and Peru. IMA has put
together an enviable property portfolio including over 37 well-located,
high-potential projects and is continuing to add to this package through
grass-roots exploration and staking.
ON BEHALF OF THE BOARD
/s/ Joseph Grosso
----------------------------------
Mr. Joseph Grosso, President & CEO
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 22