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 APRIL, 2006.
Commission File Number: 001-32558
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): _______
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 [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.
-------------------------------------
Date: April 5, 2006 /s/ Joseph Grosso
------------------------------ -------------------------------------
Joseph Grosso,
President & CEO
IMA EXPLORATION INC.
(A Grosso Group Company)
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 American Stock Exchange: IMR
Frankfurt & Berlin Exchanges: IMT (WKN 884971)
--------------------------------------------------------------------------------
NEWS RELEASE - APRIL 5, 2006
PHASE IV DRILLING UPDATE FOR IMA'S NAVIDAD
IMA EXPLORATION INC. (IMR-AMEX, IMR-TSX.V) is pleased to announce results from
35 diamond drill holes at its Navidad Silver Project in Patagonia, Argentina,
from the Phase IV drilling programs that commenced in January of 2006. Phase IV
drilling to date has focused on further defining the Calcite NW and Calcite Hill
deposits, as well as testing of several geological/geophysical targets away from
the main mineralized trends.
Highlights of the drilling at Calcite NW include hole NV06-262 with 25.2 metres
(m) averaging 146 grams/tonne (g/t) silver including a higher-grade section of
8.54m averaging 385 g/t silver, as well as NV06-264, which contained 28.4m
averaging 127 g/t silver including 6.85m of 455 g/t silver (Table 1). At Calcite
Hill hole NV06-272, on the northern limit of the known resource boundary,
returned 9.86m averaging 401 g/t silver. The zone remains open towards the north
at shallow depths.
A small area of Galena Hill has also been drilled on tight centres to allow
calculation of the optimal drill spacing and to collect more material for
metallurgical testing. As the Phase IV program continues drilling will also
target: 1) the Esperanza Trend, 2) delineation of the high-grade mineralized
zone at Loma de la Plata, which has only been tested by 5 drill holes to date
(News Release 24, October 13, 2005), and 3) initial testing of other targets
located along the 8km Argenta Trend.
As expected, infill drilling at Galena Hill produced long intercepts of silver
and lead mineralization. An example of one of the Galena Hill infill holes is
NV06-275, with 120m containing 218 g/t silver and 4.8 percent (%) lead with a
higher-grade, upper-part of 27.8m, starting at just 33m depth, that contains 539
g/t silver and 9.3 % lead. Similarly, hole NV06-279 produced 156.8 m averaging
121 g/t silver and 4.8 % lead including a higher-grade interval of 42m averaging
231 g/t silver and 10.2 % lead in its upper portion. For convenience, the silver
equivalent values including lead have been shown in the table of results. In
many cases the lead accounts for as much as half of the potential metal value at
Galena Hill (see formula in the foot notes of table for details of the
calculation method).
Galena Hill infill drilling will determine the optimal drill spacing and
orientation required to upgrade the resource from the indicated to the measured
category. The holes released represent three section lines of five holes each
with spacing between the hole collars and lines of 25m. All of the holes were
drilled towards grid north at -75 degrees. Additional infill holes will be
drilled oriented -75 degrees grid south on intermediate section lines at 25m
collar spacing, thereby reducing the section lines spacing to 12.5m. Prior
drilling was done at a section spacing of roughly 80 metres with holes spaced at
approximately 60 metres.
The results of holes released represent 6,633 metres of drilling of the more
than 9,000 metres already drilled in 2006, bringing the life of the project
total to over 50,000 metres. Reconnaissance drilling included 4 holes drilled
between the Esperanza and Argenta trends. Drilling at Calcite NW included 14
holes, while drilling at Calcite Hill included 2 holes. An infill-drilling
program at Galena Hill comprised 15 holes. The drill is currently working on the
Esperanza Trend.
News Release April 5, 2006
IMA Exploration Inc. Page 2
--------------------------------------------------------------------------------
An updated summary of collar locations and hole orientations and lengths is
available on IMA's website (WWW.IMAEXPLORATION.COM), as is a summary of IMA's
rigorous, quality-control and quality-assurance procedures. Dr. Paul Lhotka is
IMA's "Qualified Person" at the Navidad project and has supervised all aspects
of the current technical program and has reviewed the contents of this release.
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, Vice President, Investor Relations, 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.
TABLE 1. PHASE IV DRILL RESULTS
--------------------------------------------------------------------------------------------------------
COMPOSITE (LWA)2 (LWA)2 (LWA)3
DRILL HOLE LOCATION FROM TO LENGTH Silver Lead AgEq
(metres) (metres) (metres)1 (g/t) (%) (g/t)
--------------------------------------------------------------------------------------------------------
NV06-252 recce 161.00 163.39 2.39 27 0.00 27
and 252.53 256.89 4.36 39 0.60 63
--------------------------------------------------------------------------------------------------------
NV06-253 recce 418.79 423.91 5.12 21 0.34 34
--------------------------------------------------------------------------------------------------------
NV06-254 recce none
--------------------------------------------------------------------------------------------------------
NV06-255 Calcite NW 59.30 69.25 9.95 19 1.23 68
including 59.30 62.00 2.70 36 1.48 95
and 67.70 69.25 1.55 38 4.45 216
--------------------------------------------------------------------------------------------------------
NV06-256 Calcite NW 60.57 68.36 7.79 23 1.76 94
including 60.57 63.47 2.90 28 2.06 110
and 66.06 68.36 2.30 38 3.07 161
--------------------------------------------------------------------------------------------------------
NV06-257 Calcite NW 33.32 34.85 1.53 37 2.38 132
--------------------------------------------------------------------------------------------------------
NV06-258 Calcite NW 51.54 53.64 2.10 35 2.99 155
--------------------------------------------------------------------------------------------------------
NV06-259 Calcite NW 71.00 76.54 5.54 53 1.89 128
--------------------------------------------------------------------------------------------------------
NV06-260 Calcite NW 75.04 86.60 11.57 44 3.35 178
including 84.00 86.60 2.60 143 13.32 676
--------------------------------------------------------------------------------------------------------
NV06-261 Calcite NW 53.50 64.54 11.04 147 0.70 175
--------------------------------------------------------------------------------------------------------
News Release April 5, 2006
IMA Exploration Inc. Page 3
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
COMPOSITE (LWA)2 (LWA)2 (LWA)3
DRILL HOLE LOCATION FROM TO LENGTH Silver Lead AgEq
(metres) (metres) (metres)1 (g/t) (%) (g/t)
--------------------------------------------------------------------------------------------------------
NV06-262 Calcite NW 41.45 66.65 25.20 146 0.40 162
including 55.34 63.88 8.54 385 0.17 392
--------------------------------------------------------------------------------------------------------
NV06-263 Calcite NW 68.00 80.77 12.77 264 0.42 281
including 71.00 77.47 6.47 496 0.29 508
including 71.00 74.95 3.95 784 0.00 785
--------------------------------------------------------------------------------------------------------
NV06-264 Calcite NW 51.36 79.77 28.41 127 0.35 141
including 69.04 75.89 6.85 455 0.01 456
including 69.04 70.25 1.21 2208 0.13 2213
--------------------------------------------------------------------------------------------------------
NV06-265 Calcite NW 50.85 63.10 12.25 80 0.69 107
--------------------------------------------------------------------------------------------------------
NV06-266 recce none
--------------------------------------------------------------------------------------------------------
NV06-267 Calcite NW 54.14 59.20 5.06 97 1.20 145
--------------------------------------------------------------------------------------------------------
NV06-268 Calcite NW 42.77 56.79 14.02 160 0.45 178
--------------------------------------------------------------------------------------------------------
NV06-269 Calcite NW 28.05 45.80 17.75 93 0.55 115
--------------------------------------------------------------------------------------------------------
NV06-270 Calcite Hill 21.52 31.38 9.86 401 0.75 431
--------------------------------------------------------------------------------------------------------
NV06-271 Calcite Hill 34.72 48.35 13.63 48 1.04 90
--------------------------------------------------------------------------------------------------------
NV06-272 Galena Hill 27.06 154.17 127.11 129 3.40 265
including 27.06 93.01 65.95 208 4.85 402
--------------------------------------------------------------------------------------------------------
NV06-273 Galena Hill 26.21 122.70 96.49 157 3.49 296
including Galena Hill 26.21 73.89 47.68 238 3.84 392
--------------------------------------------------------------------------------------------------------
NV06-274 Galena Hill 6.88 107.71 100.83 119 1.44 177
including 29.46 68.72 39.26 221 1.48 281
--------------------------------------------------------------------------------------------------------
NV06-275 Galena Hill 28.50 148.55 120.05 218 4.81 410
including 33.01 60.78 27.77 539 9.26 909
--------------------------------------------------------------------------------------------------------
NV06-276 Galena Hill 38.00 137.66 99.66 210 4.02 371
including 38.00 91.60 53.60 247 4.52 428
--------------------------------------------------------------------------------------------------------
NV06-277 Galena Hill 3.05 117.62 114.57 125 2.26 215
including 3.05 47.20 44.15 266 4.02 426
including 81.64 117.62 35.98 48 1.87 123
and 167.79 184.41 16.62 122 4.30 294
--------------------------------------------------------------------------------------------------------
NV06-278 Galena Hill 31.18 135.80 104.62 154 4.17 321
including 31.18 75.27 44.09 290 5.58 513
--------------------------------------------------------------------------------------------------------
NV06-279 Galena Hill 33.00 189.78 156.78 121 4.79 312
including 33.00 74.98 41.98 231 10.20 639
--------------------------------------------------------------------------------------------------------
NV06-280 Galena Hill 44.40 162.72 118.32 149 5.41 366
including 50.40 90.38 39.98 190 6.82 463
--------------------------------------------------------------------------------------------------------
NV06-281 Galena Hill 57.72 140.00 82.28 133 4.36 308
including 57.72 100.14 42.42 185 6.42 441
--------------------------------------------------------------------------------------------------------
NV06-282 Galena Hill 11.30 189.67 178.37 124 3.07 247
including 11.30 89.30 78.00 225 4.96 423
including 177.90 189.67 11.77 200 3.44 338
--------------------------------------------------------------------------------------------------------
News Release April 5, 2006
IMA Exploration Inc. Page 4
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
COMPOSITE (LWA)2 (LWA)2 (LWA)3
DRILL HOLE LOCATION FROM TO LENGTH Silver Lead AgEq
(metres) (metres) (metres)1 (g/t) (%) (g/t)
--------------------------------------------------------------------------------------------------------
NV06-283 Galena Hill 27.87 123.01 95.14 161 3.91 317
including 36.76 84.58 47.82 250 4.49 429
and 170.91 188.77 17.86 110 2.00 190
--------------------------------------------------------------------------------------------------------
NV06-284 Galena Hill 48.79 177.02 128.23 151 4.61 335
including 57.57 90.44 32.87 427 11.61 891
--------------------------------------------------------------------------------------------------------
NV06-285 Galena Hill 41.00 164.34 123.34 121 5.60 345
including 47.00 77.70 30.70 192 8.75 542
--------------------------------------------------------------------------------------------------------
NV06-286 Galena Hill 44.90 133.47 88.57 71 2.14 157
including 71.85 95.97 24.12 134 3.84 288
--------------------------------------------------------------------------------------------------------
Notes:
1. True thickness has not been calculated for these holes.
2. All length weighted averages (LWA) are "uncut" i.e. have no grade capping.
3. Silver equivalent calculated using US$6.00/oz silver and $0.35/lb lead.
(AgEq = Ag + (%Pb*10,000/250). No attempt has been made to adjust these
relative values by accounting for metallurgical recoveries, as insufficient
information is available to do so. This is the same method as used in the
resource calculation release on February 16, 2006.
4. A complete list of all results to date is available on IMA's website
(www.imaexploration.com).
[GRAPHIC OMITTED][GRAPHIC OMITTED]
OMITTED GRAPHIC IS:
Map showing Results from New Drilling in 2006 at
Calcite NW and Calcite Hill
(not included in Feb 16, 2006 Resource Estimate )
Please visit the Company's website at: www.imaexploration.com to view.