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 JUNE, 2005.
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 [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.
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Date: JUNE 1, 2005 /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
June 1, 2005
3. PRESS RELEASE
The press release was released on June 1, 2005 through various approved
public media and filed with the TSX Venture Exchange and the British
Columbia, Ontario, Alberta and Quebec 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
June 1, 2005.
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 - JUNE 1, 2005
NAVIDAD EXPLORATION UPDATE
IMA EXPLORATION INC. (IMR-TSX.V, IMXPF-OTC.BB) is pleased to provide an
exploration update for its 100% owned Navidad silver-lead discovery located in
Patagonia, Argentina. To date, IMA has defined an Indicated Resource of 268
million ounces of silver and 1.1 million tonnes of lead (80.8 million tonnes at
103 g/t silver and 1.45% lead using a 50 g/t silver equivalent cut-off) at the
Navidad Project, quickly making it one of the world's largest primary silver
deposits.
Dr. Paul Lhotka, P.Geo., IMA's Qualified Person at the Navidad Project, and
Keith Patterson, M.Sc., P.Geo., IMA's Exploration Manager, have overseen the
completion of 27,981m of core drilling in 174 holes taking the Navidad Project
from an undrilled prospect to one of the world's largest silver resources.
Exploration drilling continues to expand the mineralization at Calcite Hill
while detailed surface exploration is outlining new zones along the Argenta
Trend. Shareholders can look forward to continued exploration drilling that will
test these new targets and quantify the potential additional value at the
project.
In April of 2005, our exploration team commenced an additional 10,000 metre
drill program as part of Phase III drilling that continues to target expansions
to the Calcite Hill zone. The first set of results from this round of drilling
is expected within weeks. Concurrent with the drill program a new resource
calculation is underway on Calcite Hill with the results also expected within
weeks. Calcite Hill has now been defined by drilling over a strike length of
500m and varies in horizontal width from approximately 50 to 150 metres and
vertical thickness from 10 to 110 metres. The new resource calculation is
expected to add significantly to the overall size of the known Navidad deposits.
Within the known deposits at Navidad, silver represents approximately 62% of the
gross metal value while lead accounts for approximately 38% at current metal
prices. [Assuming silver and lead account for 100% of the gross metal value.
Metal prices used in this calculation were silver = $7.22 per ounce and lead =
$0.45 per pound.] The outlook for both metals is strong, yet despite a rapidly
rising price and demand for lead, this market remains poorly understood by the
broader investment community. Over the last two years the price of lead has
doubled. This is very significant to IMA shareholders because while Navidad is a
primary silver discovery, it contains a substantial lead value that continues to
grow.
Recent surface work along the Argenta trend (parallel to the Navidad trend) has
discovered high-grade lead values over significant widths. New discoveries
include the "Bajo del Plomo", "Filo del Plomo" and "Ginger" zones where lead
values of up to 10.7% lead over 10 metres, 7.3% lead over 17 metres and 4.8%
lead over 21 metres respectively, have been discovered. These new discoveries
are located southeast of the previously announced Loma de la Plata zone, along
the 8 kilometre Argenta mineralized trend (see map at
http://www.imaexploration.com/i/maps/imr-jun012005-map.gif ).
With the addition of the three new zones, the Argenta Trend now consists of five
named mineralized zones along an 8 kilometre strike length. Mineralization
styles vary from silver-copper rich at the northwest end at Sector Zeta, to
silver-rich at Loma de la Plata, to lead-dominant at Bajo del Plomo, Filo del
Plomo and Ginger. Mineralization is hosted by the same trachyandesitic volcanic
rocks as the Galena, Navidad, and Calcite Hill deposits, and in some cases in
adjacent sedimentary rocks. It appears to occur at approximately the same
stratigraphic position as the known ressources but with significant differences
in sedimentary facies.
NEWS RELEASE JUNE 1, 2005
IMA EXPLORATION INC. PAGE 2
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At Bajo del Plomo, 35 measured chip samples have been collected, of which 30
make up chip sample lines 1, 3, 4, 5, and 6. Individual samples range from below
detection to 700 g/t silver and 0.01% to 20.3% lead. Length weighted average
grades from the chip sample lines include 273 g/t silver and 10.7% lead over
10.0m, complete results are presented below. It is worth noting that lines 3 and
4 include 7.0 and 23.8m of unsampled, soil-covered gaps that were included in
the average grade calculations at zero grade, thereby reducing the overall grade
significantly. Bajo del Plomo is located immediately to the southeast of Loma de
la Plata.
Filo del Plomo is located approximately 1km to the southeast of Loma de la Plata
and includes results such as 17.15m of 71 g/t silver and 7.27% lead and 23.50m
of 60 g/t silver and 4.38% lead. 83 measured chip samples have been collected at
Filo del Plomo and range from below detection to 340 g/t silver and 0.06% to
29.7% lead. Chip sample lines cover a strike length of 560m and vary from 3.0 to
23.5m in width.
The Ginger zone is located 2.1 km to the southeast Filo del Plomo and 32 samples
have been collected from 3 chip lines in addition to several dozen individual
chip samples. Results from this sampling include 21.2m of 30 g/t silver and
4.84% lead from line G1 and 15.2m of 21 g/t silver and 4.63% lead from line G2.
A large expansion to the pole-dipole induced polarization (IP) and magnetic
geophysical surveys has recently been completed at the Navidad project. The
company now has over 58 square kilometres of geophysical surveying covering and
extending beyond the Navidad and Argenta Trends. This is a major increase from
the 17.5 square kilometre area that was previously surveyed. The Galena Hill
Deposit has a strong geophysical signature, while other deposits such as Navidad
and Calcite Hills have much more subtle signatures. This additional geophysical
coverage provides a wealth of information about the geology and structure at
Navidad in addition to highlighting new areas prospective for mineralized zones
that may be completely buried.
The Company maintains a rigorous quality-control and quality-assurance program,
a copy of which is available at IMA's website www.imaexploration.com . Dr. Paul
Lhotka is IMA's "Qualified Person" at the Navidad project and has overseen all
aspects of the current program.
IMA's Annual General Meeting will take place at 12:30pm, June 23, 2005, in the
Garibaldi Room at the Four Seasons Hotel, 791 West Georgia Street, Vancouver,
B.C.
ON BEHALF OF THE BOARD
/s/ Joseph Grosso
__________________________________
Mr. Joseph Grosso, President & CEO
NEWS RELEASE JUNE 1, 2005
IMA EXPLORATION INC. PAGE 2
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Table 1: Results of systematic chip sample lines.
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SAMPLE LENGTH SILVER LEAD
SHOWING LINE (M) (G/T) (%)
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Bajo de Plomo Line 1 10.00 273 10.74
Bajo de Plomo Line 3(1) 19.50(1) 3 0.31
including 2.40 18 1.57
Bajo de Plomo Line 4(1) 47.70(1) 14 1.36
including 17.70 22 1.99
Bajo de Plomo Line 5 3.00 42 2.13
Bajo de Plomo Line 6 No significant results
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Filo del Plomo Line 2 ext 17.15 71 7.27
Filo del Plomo Line 7 6.15 52 8.36
Filo del Plomo Line 8 10.80 27 4.67
Filo del Plomo Line 9 2.60 37 7.84
Filo del Plomo Line 10 23.50 60 4.38
Filo del Plomo Line 11 3.00 32 6.83
Filo del Plomo Line 12 3.70 54 8.73
Filo del Plomo Line 13 15.70 29 1.02
including 7.80 55 1.75
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Ginger Line G1 21.20 30 4.84
Ginger Line G2 15.20 21 4.62
Ginger Line G3 22.70 11 2.01
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Note:
1. In areas where bedrock was not reached due to overburden, the resulting
unsampled "gaps" were included in the chip sample lines at zero grade. Line
3 includes 7.00m of unsampled gaps and Line 4 includes 23.80m of unsampled
gaps.
2. Silver and lead grades are reported as length weighted averages of the
individual samples.
For further information please contact Joseph Grosso, President & CEO, or Sean
Hurd, VP-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 presults may
differ materially from those currently anticipated in such statements.
2005 NUMBER 10