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 MARCH , 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 March 5, 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
March 5, 2003
3. Press Release
A press release dated March 5, 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 5rd day of March, 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.como 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 March 5, 2003
IMA EXPANDS BONANZA-GRADE SILVER DISCOVERY AT NAVIDAD
IMA Exploration Inc. is pleased to announce that recent work on the Navidad
project in Patagonia has achieved the following:
1. Doubled the strike length of the mapped bonanza-grade silver-copper-lead
mineralization at Navidad Hill.
2. Significantly expanded the size of replacement-style silver-lead
mineralization which has clear bulk tonnage potential.
3. Demonstrated the potential for additional discoveries within an 8 kilometre
by 3 kilometre area of favourable geology and anomalous geochemistry.
NAVIDAD HILL BONANZA-GRADE STRUCTURES
Cumulative strike length of known structures at Navidad Hill is now 402 metres;
the steeply dipping structures have widths typically from 0.45 to 3.3 metres and
occur within an area of 160 x 110 metres. The length weighted average grade of
all 43 samples taken from this style of mineralization is 6,537 grams per tonne
(g/t) silver (191 ounces per ton), 3.5% copper, and 16.6% lead. Outside the
Navidad Hill area, several additional bonanza-grade structures have been mapped
with values up to 30,510 g/t silver (897 oz/ton) (see appendix for details).
REPLACEMENT STYLE MINERALIZATION
Replacement style silver-lead mineralization has a cumulative strike length of
over 3.2 km within a 3.8 km trend. The average grade of all 41 samples taken
from this style of mineralization is 158 g/t (4.61 oz/ton) silver and 8.9% lead.
Thicknesses of the replacement zones are not yet known due to sparse exposure.
ADDITIONAL POTENTIAL
Geologic mapping, rock and soil sampling has shown potential for additional
discoveries similar in style to Navidad within an 8 kilometre by 3 kilometre
area. Results received to date from an initial soil grid (278 samples) include
values greater than 100 g/t silver and greater than 1% lead from areas outside
Navidad Hill. Although extensive soil cover has limited the surface delineation
of mineralization at Navidad, excellent potential exists for additional
mineralization below this cover.
IMA's Exploration Manager, Keith Patterson, M.Sc. and Daniel Bussandri, B.Sc.
completed the recent mapping, rock sampling and soil sampling. IMA's Qualified
Person for the Navidad project, Dr. Paul Lhotka, P.Geo., has since verified the
above work in the field.
The Navidad discovery is ideally located in a temperate climate zone, at an
elevation of approximately 1,100 metres. It is less than one kilometre from a
highway, 45 kilometres from the nearest town, 125 kilometres from the nearest
railway line and 250 kilometres from a deep-sea port.
News Release
March 5, 2003
IMA Exploration Inc. Page 2
IMA will be attending the PDAC conference in Toronto from March 9th to the 12th
at the Investor's Exchange, booth #2421. Shareholders and all interested parties
are invited to visit with the Company's Management at the booth to learn more
about IMA's exploration activities.
ON BEHALF OF THE BOARD
/s/ Gerald G. Carlson
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Dr. Gerald G. Carlson, P.Eng., Chairman
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 8
APPENDIX
(To News Release dated March 5, 2003)
TABLE 1: SELECT SAMPLES FROM NAVIDAD HILL STRUCTURES
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Width Silver Silver Copper Lead
Sample Type (meters) (oz/ton) (g/t) (%) (%)
------ ---- -------- -------- -------- ------ -----
M1086 chip 0.75 411.7 14,100 39.5 1.2
M1088 chip 0.55 347.5 11,900 3.6 11.2
M1093 chip 1.1 282.1 9,660 4.4 6.4
M1094 chip 0.7 312.7 10,710 17.5 3.7
M1098 chip 0.75 440.9 15,100 2.8 1.6
M1104 chip 1.07 280.0 9,590 29.0 1.0
M1105 chip 0.5 294.9 10,100 2.7 1.3
M1106 chip 0.45 531.7 18,210 3.4 10.5
M2139 chip 0.9 438.0 15,000 9.6 5.2
M2253 chip 0.5 681.8 23,349 0.1 8.8
M2254 chip 0.3 548.5 18,784 0.1 23.9
M2290 chip 0.4 451.3 15,454 16.4 6.5
M3034 chip 0.2 648.0 22,192.4 8.85 1.15
M2255 chip 0.6 254.0 8,699 6.76 0.27
Note: Average of all 43 samples taken to date from the Navidad Hill structures
is: 7,753 g/t (226.4 oz/ton) silver, 4.9% copper and 14.3% lead. Length weighted
average of all 43 samples is 6,537 g/t silver (191 oz/ton), 3.5% copper, and
16.6% lead. This relatively small difference between average and length weighted
average demonstrates the remarkable consistency of grade within the Navidad Hill
structures.
TABLE 2: HIGH-GRADE STRUCTURES OUTSIDE THE NAVIDAD HILL AREA
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Width Silver Silver Copper Lead
Sample Type (meters) (oz/ton) (g/t) (%) (%)
------ ---- -------- -------- ------ ------ -----
M2265 grab - 55.0 1,871 14.9 0.2
M2266 chip 0.7 213.3 7,251 9.3 0.2
M2267 chip 1.0 57.4 1,952 9.3 0.2
M2295 grab - 159.5 5,423 2.1 0.1
M2297 chip 0.5 897.3 30,510 3.0 9.8