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 DECEMBER , 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 December 17, 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.
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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
December 17, 2003
3. Press Release
A press release dated December 17, 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
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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 17th day of December, 2003.
/s/ William Lee
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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)
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NEWS RELEASE December 17, 2003
DRILL RESULTS INDICATE LARGE MINERALIZED SYSTEM AT NAVIDAD
IMA Exploration Inc. is pleased to announce initial results from the diamond
drill program at the Company's 100% owned Navidad project, located in Patagonia,
Argentina. Drilling to date has tested two small areas approximately 1,200
metres apart that are on the edge of a large geophysical chargeability anomaly
(see attached map). Preliminary results indicate a very large, intensely altered
and mineralized system. Results received to date compare favorably in terms of
size and grade with numerous bulk tonnage silver deposits worldwide (ex: Pan
American Silver's Alamo Dorado deposit in Mexico, 35.5 M tonnes at 68 g/t
silver).
Partial results have been received from the first four holes (see attached map),
two of which were drilled on Navidad Hill and two on Galena Hill, as summarized
in the results table in Appendix 1. At Navidad Hill, hole NV03-01 intersected
2,677.6 g/t silver over 0.8 m, or 535.6 g/t silver over 7.4 m, within a zone of
58.4 m averaging 111.1 g/t silver. On the same section, hole NV03-02 intersected
1,320.3 g/t silver over 1.1 m within a zone of 48.0 m that averaged 97.8 g/t
silver. Preliminary drill results suggest that mineralization on Navidad Hill
occurs predominantly as broad areas of stockwork and breccia, rather than narrow
discrete structures as had originally been anticipated from the surface
exposures.
Drilling has clearly demonstrated that the large IP chargeability anomaly is
caused by sulfide mineralization, principally galena with local pyrite. In hole
NV03-03, sulphide breccia mineralization was encountered over the entire 178.5m
length of the hole. In hole NV03-04, 266.7 m of sulphide breccia was intersected
to a vertical depth of 180m from surface. Results have been received for the
upper 81.10 m of this hole, and intersected 111.3 g/t silver over 78.3 m
including 169.2 g/t silver over 41.50 m and 223.4 g/t silver over 16.10 m at the
bottom of this interval. Assays for the remaining 207 m of the hole are pending.
Drilling on Galena Hill has confirmed that anomalous chargeability values as
defined by IP geophysical surveys (see release dated June 25th, 2003) are
attributable to silver-lead (sulphide) mineralization over very long
intersections in excess of 200 metres. These large widths have dramatic
implications for the tonnage potential of this zone, given the 1.6 x 1.3 km size
of the IP anomaly and that geophysics indicates depths locally extend to 300m.
IMA geologists believe that significant silver-lead+/-copper mineralization may
underlie large portions of the 1.6 x 1.3 km chargeability anomaly.
Eleven diamond drill holes (1,724 m total) have been completed to date, and
results from the remaining seven holes are pending. Final results from this
first phase of drilling will be disseminated when assays from all the holes are
received from the lab. The geological crew is completing logging and sampling of
core and drilling will resume early in the New Year after the holidays. IMA is
committed to meet or exceed industry "best practices" under National Instrument
43-101; please see our website (www.imaexploration.com) for a detailed
description of quality assurance and quality control procedures. Dr. Paul
Lhotka, P.Geo. is IMA's independent Qualified Person at the Navidad Project.
IMA Exploration Inc. has over $4,000,000 in its treasury 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.
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ON BEHALF OF THE BOARD
/s/ Joseph Grosso
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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 32
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TABLE 1: NAVIDAD DRILL RESULTS TO DATE
TOTAL COMPOSITE G/T % %
DDH LENGTH LENGTH SILVER COPPER LEAD
DDH LOCATION (METRES) FROM TO (METRES) (LWA) (LWA) (LWA)
NV03-01 Navidad Hill 109.50 003.05 61.45 58.40 111.1 0.22 0.06
including 10.10 31.35 21.25 233.3 0.35 0.09
including 10.10 17.50 7.40 535.6 0.81 0.07
including 15.70 16.50 0.80 2,677.6 3.07 0.30
61.45 109.50 results pending
NV03-02 Navidad Hill 154.50 2.50 50.50 48.00 97.8 0.15 0.06
including 6.45 6.70 0.25 858.0 8.07 0.26
including 17.60 25.00 7.40 227.1 0.25 0.16
including 40.40 41.45 1.05 1,320.3 0.82 0.28
NV03-03 Galena Hill 178.5 3.00 178.50 175.50 26.0 (0.00) 1.35
including 3.00 128.30 125.30 32.8 (0.00) 1.68
including 72.50 107.50 35.00 49.7 0.01 3.47
including 18.60 29.40 10.80 42.1 (0.00) 1.16
including 72.50 79.10 6.60 55.6 0.01 4.42
including 86.20 95.45 9.25 76.8 0.01 5.43
including 101.40 107.50 6.10 53.3 0.01 3.46
NV03-04 Galena Hill 287.98 2.80 81.10 78.30 111.3 (0.00) 2.54
including 39.60 81.10 41.50 169.2 (0.00) 3.06
including 65.00 81.10 16.10 223.4 (0.00) 3.35
81.10 287.98 results pending
LWA = length weighted average (all grades are "uncut")
NV03-04 is HQ until 244.2m and thereafter NQ diameter. All other holes are HQ in
their entirety.
TABLE 2: PRELIMINARY HOLE COLLAR LOCATIONS
LOCAL LOCAL ELEVA- AZIMUTH WRT
GRID GRID TION GRID LENGTH
HOLE EAST NORTH METRES NORTH DIP METRES
NV03-01 50,000 10,005 1,219 180 -45 109.50
NV03-02 50,000 9,971 1,211 0 -45 154.50
NV03-03 51,160 9,657 1,179 180 -45 175.50
NV03-04 51,161 9,667 1,179 0 -45 287.98
NV03-05 51,163 9,800 1,176 0 -60 217.70
NV03-06 49,962 9,972 1,218 0 -45 136.20
NV03-07 49,921 9,966 1,222 0 -45 108.90
NV03-08 49,960 10,016 1,226 180 -45 146.00
NV03-09 49,920 10,028 1,231 180 -45 106.10
NV03-10 49,961 9,954 1,216 0 -45 150.70
NV03-11 49,625 10,040 1,209 90 -45 131.20
Note - Surveyed by nondifferential GPS or with respect to local grid pickets to
within +/- 3 metres
MAP OF NAVIDID PROJECT DIAMOND DRILL HOLE LOCATIONS
DECEMBER, 2003
[GRAPHIC OMITTED][GRAPHIC OMITTED]
PLEASE VIEW GRAPHIC AT THE COMPANY'S WEBSITE: www.imaexploration.com