UNITED STATES
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 SEPTEMBER, 2004.
Commission File Number: 0-30464
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 [ ]
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): _______
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): _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES [ ] NO [ ]
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.
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Date: SEPTEMBER 08, 2004 /s/ Joseph Grosso
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Joseph Grosso,
President & CEO
BC FORM 51-102F3
MATERIAL CHANGE REPORT
1. NAME AND ADDRESS OF COMPANY
IMA Exploration Inc. (the "Issuer")
#709 - 837 West Hastings Street
Vancouver, BC
V6C 3N6
Phone: (604) 687-1828
2. DATE OF MATERIAL CHANGE
September 08, 2004
3. PRESS RELEASE
The press release was released on September 8, 2004 through various
approved public media and filed with the TSX Venture Exchange and the
British Columbia, Ontario and Alberta Securities Commissions.
4. SUMMARY OF MATERIAL CHANGE(S)
See attached press release for details.
5. FULL DESCRIPTION OF MATERIAL CHANGE
See attached press release for details.
6. RELIANCE ON SUBSECTION 7.1(2) OR (3) OF NATIONAL INSTRUMENT 51-102
Not Applicable
7. OMITTED INFORMATION
Not Applicable
8. EXECUTIVE OFFICER
Joseph Grosso
Phone: (604) 687-1828
9. DATE OF REPORT
September 08, 2004.
/s/ Joseph Grosso
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Joseph Grosso, President & CEO
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 SEPTEMBER 08, 2004
DRILL HOLE #88 YIELDS A BLIND SILVER DISCOVERY
470 METRES NORTHWEST OF NAVIDAD HILL
IMA EXPLORATION INC. (IMA-TSX.V, IMXPF-OTC.BB) is pleased to announce results
for 15 drill holes from the Phase II exploration drill program at the Company's
100% owned Navidad Project located in Patagonia, Argentina. The highlight of the
new results is drill hole #88, the first hole drilled on the edge of the CALCITE
HILL TARGET AND 470 METRES NORTHWEST OF NAVIDAD HILL. THE HOLE INTERSECTED 72.3M
AVERAGING 202 G/T SILVER AND 3.45 % LEAD from 70.3 to 142.6m depth and included
a higher grade interval containing 12.4m averaging 672 g/t silver. (see attached
map)
Drilling at Navidad Hill also returned excellent intersections such as 74.6m of
103 g/t silver including 8.9m of 211 g/t silver and 8.5m of 237 g/t silver in
hole 83, thereby further extending the mineralization on Navidad Hill to the
northwest. At the 6 km long Esperanza Trend, new results include 12.6m of 513
g/t silver in hole 79 in the area of previously reported holes 25 and 62.
Interestingly, hole 79 shows signs of the mineralization being stratigraphically
rather than structurally controlled as had been interpreted to date in this
area. 800 metres to the northwest hole 82 intersected 54.6m of 64 g/t silver,
including 26.1m of 106 g/t silver and also 6.0m of 140 g/t silver in the same
area as previously released hole 63. These results confirm the potential for a
significant resource at Esperanza.
None of the 15 new holes reported on in this release are within the Galena Hill
deposit where an INDICATED RESOURCE OF 207 MILLION OUNCES OF SILVER (63.6
MILLION TONNES GRADING 101 G/T SILVER AND 1.76% LEAD) has been identified (see
May 25, 2004 release). The new results available are from holes NV04-74 to
NV04-88 with the following distribution Calcite Hill = 1, Navidad Hill and
Connector Zone = 5, Barite Hill = 3, Esperanza Trend = 5 and one reconnaissance
hole in the Esperanza Valley (see table below for complete results and
locations).
NV04-88 was drilled to test favourable stratigraphy on the edge of Calcite Hill
in an area where there are few indications of mineralization or geochemical
anomalies at surface. Hole 88 is located 470m to the northwest of the nearest
reported hole at Navidad Hill, NV03-11. The major Calcite Hill silver-lead soil
anomaly is located a further 340m to the northwest of hole 88 opening up
significant potential for extending the blind mineralization discovered in
NV04-88 both to the southeast towards Navidad Hill and northwest towards the
soil anomaly.
Hole NV04-88 demonstrates the highly prospective nature of the Calcite Hill
target and extends the Navidad mineralized system to the northwest across a
series of interpreted faults which have down-dropped the favourable stratigraphy
on Calcite Hill. The mineralization in NV04-88 is generally similar in character
to the stratigraphically controlled mineralization at Galena Hill. The
mineralization starts in the lower part of a sequence of limey, pelitic
mudstones, equivalent to those at Galena Hill, but with a notable presence of
tuffaceous volcanic detritus. A galena-rich interval of semi-massive sulphide
marks the contact between this sequence and the underlying latite volcanic unit.
Beneath this contact the mineralization occurs as breccia infilling and veins
within the latite volcanic unit that extend well down in to the latites as at
Galena Hill. A lower red-weathered volcaniclastic and sedimentary sequence
underlies the favourable latite strata in the same sequence as that observed at
Galena Hill. The Calcite Hill mineralization comprises galena and barite with
minor amounts of native silver (native silver had not been observed in any of
the drill core from the Navidad Project prior to hole 88). Apart from galena,
sulphides are not visually abundant and include only minor amounts of pyrite.
The true thickness is interpreted to be close to the length of the mineralized
intercept in hole 88 as the mineralization appears predominantly stratigraphic
in nature, similar to Galena Hill, and the hole was oriented at minus 80 degrees
and cut stratigraphy nearly perpendicularly. More drilling is needed to confirm
this.
News Release September 8, 2004
IMA Exploration Inc. Page 2
At Barite Hill, hole NV04-76 cut 22.1m of galena matrix breccia that graded 34
g/t silver and 0.63% lead in the upper part of the hole and then intersected a
different style of mineralization deeper in the hole that contains 21.7m of 88
g/t silver including 8.4m of 191 g/t silver. This deeper mineralization is
associated with calcite veining within a fine-grained muddy sedimentary rock and
is characterized by high silver to base metal ratios. Two more follow-up holes
have been drilled, but results are not yet available.
A total of 9596 m in 67 holes have been drilled in the now completed Phase II
program bringing the project totals to date to 18,456 m in 120 holes (all
diamond core holes). A further 32 new holes remain to be reported on from the
Phase II exploration drilling program. A break in drilling is planned to process
and interpret data from the Phase II program. Surface exploration work will be
ongoing during the drilling break to develop Sector Zeta and other targets to
the drilling stage. These new positive drilling results, and a greater density
of drill holes will allow the calculation of an initial resource estimate for
the Navidad Hill zone.
Dr. Paul Lhotka, P.Geo. is IMA's Qualified Person for the Navidad project and
has overseen all aspects of the current program.
IMA Exploration Inc. has over 10 years experience in Argentina and is focused on
the exploration and development of its 100% owned Navidad silver discovery and
its property portfolio in the region.
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, 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 25
News Release September 8, 2004
IMA Exploration Inc. Page 3
TABLE 1: NEW DRILL RESULTS
COMP. G/T % % %
DDH LOCATION FROM TO LENGTH SILVER COPPER LEAD ZINC
(METRES) (METRES) (METRES) (LWA) (LWA) (LWA) (LWA)
NV04-74 Barite Hill 29.00 37.16 8.16 29 0.01 0.41 0.08
NV04-75 Barite Hill 53.93 55.52 1.59 63 0.01 0.69 0.18
NV04-76 Barite Hill 10.10 32.20 22.10 34 0.02 0.63 0.21
and 100.50 122.20 21.70 88 0.03 0.26 0.09
including 106.10 114.47 8.37 191 0.08 0.33 0.13
NV04-77 recce none
NV04-78 Esperanza 37.80 43.18 5.38 50 0.03 1.73 0.03
NV04-79 Esperanza 34.72 47.28 12.56 513 0.09 0.06 0.01
NV04-80 Esperanza 4.50 8.05 3.55 258 0.10 0.51 0.03
NV04-81 Esperanza 58.20 62.48 4.28 41 0.01 0.04 0.03
and 86.87 99.76 12.89 23 0.02 0.04 0.03
NV04-82 Esperanza 6.00 58.55 54.55 64 0.00 0.35 0.01
including 34.50 58.55 26.05 106 0.00 0.28 0.00
and 102.15 109.30 5.95 140 0.01 1.57 0.39
NV04-83 Navidad Hill 4.50 88.00 74.61 103 0.16 0.04 0.05
including 53.00 61.91 8.91 211 0.25 0.04 0.05
including 79.50 88.00 8.50 237 0.12 0.03 0.00
NV04-84 Navidad Hill 13.90 55.50 41.60 56 0.17 0.02 0.05
including 22.20 23.53 1.33 98 0.26 0.02 0.07
and 77.00 81.97 4.97 57 0.17 0.00 -0.01
NV04-85 Navidad Hill 4.50 28.80 24.30 142 0.21 0.06 0.11
including 4.50 8.20 3.70 689 0.68 0.14 0.11
NV04-86 Connector Z. 34.63 101.18 63.55 47 0.03 0.16 0.10
including 47.80 49.02 1.22 104 0.05 0.53 0.08
NV04-87 Connector Z. 22.40 24.06 1.66 129 0.10 0.80 0.08
and 52.02 52.80 0.78 629 1.45 0.13 0.26
and 66.25 76.50 10.25 23 0.04 0.02 0.04
NV04-88 Calcite Hill 70.30 142.63 72.33 202 0.05 3.45 0.12
including 81.61 142.63 61.02 226 0.05 2.87 0.01
including 70.30 110.92 40.62 89 0.02 5.95 0.21
including 110.92 123.36 12.44 672 0.14 0.50 0.01
Notes:
1. All length weighted averages (LWA) are "uncut".
2. A complete list of all results and collar locations to date is available on
IMA's website (www.imaexploration.com).
3. True thicknesses have yet to be interpreted for these holes. True
thicknesses in the case of sub-vertical structurally-controlled
mineralization at Navidad Hill are likely approximately 70% of the
intercept length; true thicknesses in the case of sub-horizontal
stratigraphically-controlled mineralization are likely between 70 and 100%
of the intercept length.
News Release September 8, 2004
IMA Exploration Inc. Page 4
NAVIDAD PROJECT - DRILL HOLE LOCATIONS
[GRAPHIC OMITTED][GRAPHIC OMITTED]
PLEASE REFER TO COMPANY'S WEB SITE TO VIEW GRAPHIC
www.imaexploration.com