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 JANUARY , 2004.
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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 January 6, 2004 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.
- 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
January 6, 2004
3. PRESS RELEASE
A press release dated January 6, 2004, 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 6th day of January, 2004.
/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 January 6, 2004
DRILLING EXPANDS SIZE AND SILVER GRADE OF NAVIDAD MINERALIZED SYSTEM
IMA Exploration Inc. (IMR-TSX.V) is pleased to announce additional results from
drill holes 4 & 5 drilled on Galena Hill at the Company's 100% owned Navidad
Project. Highlights include 137 metres (m) grading 117 grams per tonne (g/t)
silver from drill hole 4, 83m grading 229 g/t silver from hole 5.
Results from the completed drill holes 6 to 11 will be released as available and
the drill crew is now on route to complete the remaining 1,700 m in the Phase 1
program. IMA's Geologists are very excited by the size potential indicated by
the results to date. Upon the completion of the Phase 1 program results will be
analyzed to prioritize drill targets and to delineate the scope of the Phase 2
drill program.
TECHNICAL SUMMARY
Drill hole NV03-04 was drilled to a depth of 287.9m at an angle of -45o and
intersected brecciated volcanic rocks containing significant sulphides
(principally galena +/- pyrite) from surface to 266.7m. The upper 200.2m of this
hole returned an average grade of 92.3 g/t silver and 2.49% lead including 55.1m
of 164.3 g/t silver and 2.97% lead from 39.6 to 94.7m (see table below and
attached section for complete results). This very long intersection of strongly
mineralized rock correlates extremely well with anomalous chargeability values
as measured by pole-dipole IP on section 51200E and suggests that much of the
remaining 1.3 x 1.6 km chargeability anomaly may be mineralized with galena and
associated silver. Partial results from hole NV03-04 were previously reported
(see Dec 17, 2003 release).
NV03-05 was drilled to a depth of 217.7m at an angle of -60o and intersected
27.5m of pyritic mudstone before penetrating 125.1m of the same mineralized
volcanic breccia cored by hole NV03-04. Length weighted average grades include
229.2 g/t silver and 4.24% lead over 83.0m including 18.3m of 503.0 g/t silver
and 11.19% lead. The layered pyritic mudstone is important in that it
demonstrates the existence of a restricted basin into which sulphides
accumulated (principally pyrite in hole NV03-05) indicating that the Navidad
system vented hydrothermal fluids to the paleosurface in a subaqueous
environment. This mudstone contains elevated zinc values (0.81% over the entire
27.5m intersection) and strong silver and lead values near its bottom contact
where it contains crosscutting stringer veinlets of galena.
Drill holes NV03-04 and NV03-05 were drilled on section 51,160E and were
collared 133m apart. Previously announced hole NV03-03 was drilled on the same
section and intersected 175.5m of 26.0 g/t silver and 1.35% lead over its entire
length. It now appears that NV03-03 was drilled at a shallow angle to the dip of
the strata and never crossed the core of the target. Holes NV03-04 and 05 appear
to cross the geological units closer to perpendicular and indicate true
thicknesses of mineralization of 70 to 140m. Together these three holes indicate
a mineralized horizontal width of at least 340m on section 51160E.
IMA Exploration Inc. 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
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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.
2004 Number 2
TABLE 2: RESULTS FROM DRILLHOLES 4 AND 5
(For results from drillholes 1 to 3 see Table 1 in News Release Dated
Dec.17,2003)
TOTAL PRIMARY COMPOSITE g/t %
DDH LOCATION LENGTH LITHOLOGY FROM TO LENGTH SILVER LEAD
(Metres) (Metres) (Metres) (Metres) (LWA) (LWA)
NV03-04 Galena 287.98 Volcanic 2.8 266.7 263.9 74.1 2.04
Hill Breccia
including 2.8 203.0 200.2 92.3 2.49
including 39.6 176.5 136.9 117.3 2.99
including 39.6 121.3 81.7 141.5 3.15
including 39.6 94.7 55.1 164.3 2.97
including 65.0 94.7 29.7 189.5 3.06
including 65.0 83.5 18.5 241.2 3.40
NV03-05 Galena 217.70 Mudstone & 43.3 126.3 83.0 229.2 4.24
Hill Volcanic
Breccia
including 46.7 113.3 66.6 271.8 4.82
including 46.7 55.9 9.2 578.9 6.82
and Volcanic 89.0 107.3 18.3 503.0 11.19
Breccia
LWA = length weighted average (all grades are "uncut").
Results for the upper 81.1m of hole NV03-04 were previously released.
[GRAPHIC OMITTED]
OMITTED GRAPHIC MAY BE VIEWED AT THE COMPANY'S WEBSITE: www:imaexploration.com