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 JULY, 2006.
Commission File Number: 001-32558
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: July 10, 2006 /s/ Joseph Grosso
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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)
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NEWS RELEASE - JULY 10, 2006
PHASE IV DRILLING AT NAVIDAD INTERSECTS MORE SILVER AT
LOMA DE LA PLATA FOR IMA EXPLORATION INC.
IMA EXPLORATION INC. (IMR-AMEX, IMR-TSX.V) is pleased to announce results for
the ongoing Phase IV drilling at its 100% owned Navidad Project in Patagonia,
Argentina. Sixteen new drill holes are reported on here including five new holes
drilled at Loma de la Plata (see Table). Loma de la Plata is one of several
zones along the 8km long Argenta Trend, located 3km southwest of the known
Navidad deposits. Significant results from the new Loma de la Plata drilling
include 11.0m of 897 grams per tonne (g/t) silver in hole 319 and 24.0m of 217
g/t silver in hole 323. Of the remaining eleven holes eight were drilled at
Calcite NW and three at Calcite Hill.
Drilling to date has tested a portion of the known mineralization at Loma de la
Plata (see attached map) and continues to confirm the results of surface
trenching. Mineralization in the five new holes and the five previously drilled
holes (October 13, 2005) always starts at surface and is hosted by the
favourable upper-volcanic sequence comprised of quartz-eye bearing
trachyandesites. This unit dips approximately 25 to 30 degrees towards the
northeast and is approximately 20 to 35m thick in the area drilled to date.
Mineralization noted in the Loma de la Plata holes is associated with minor
veinlets and narrow intervals of brecciation both of which contain carbonate
gangue minerals with lesser amounts of quartz and barite. Sulphide content is
generally very low, never exceeding two percent. Minor amounts of galena, copper
oxides, probable silver-copper sulphosalts, and traces of native silver were
noted during the logging. The form and shape of zones of veinlets and
brecciation is not yet well defined, but they are hosted within the
trachyandesite upper volcanic rocks. Newly drilled holes show that a sedimentary
interval at the base of the favourable volcanic unit can also be mineralized
with small quantities of disseminated sulphides and towards the northeast can
have grades of potential economic interest (see hole 322 from 29.75 to 37.0m
containing 7.25m of 88 g/t silver). No resource estimation has yet been
undertaken at Loma de la Plata.
The three holes drilled at Calcite Hill are infill holes to provide more
detailed information and the shape and grade of the deposit; holes 317 and 318
produced some of the best ever results at Calcite Hill including 124.0m grading
296 g/t silver and 112.6m grading 209 g/t silver and 2.91% lead respectively.
Similarly eight infill holes were drilled at Calcite NW also produced good
results including 33m at 138 g/t silver in hole 310 and 11.0m grading 443 g/t
silver in hole 314.
Phase IV drilling in 2006 comprises more than 16,000 m in 96 holes and is
ongoing. Results have now been released for 72 of these holes and periodic
releases will be made to keep shareholders informed of developments at the
Project.
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,
P.Geo. 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.
NEWS RELEASE JULY 10, 2006
IMA EXPLORATION INC. PAGE 2
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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. NEW PHASE IV DRILL RESULTS
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(LWA)(3)
COMPOSITE (LWA)(2) (LWA)(2) SILVER
DDH LOCATION FROM TO LENGTH SILVER LEAD EQUIV.
(metres) (metres) (metres)(1) (g/t) (%) (g/t)
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NV06-308 Calcite NW 59.00 83.00 24.00 125 0.08 128
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NV06-309 Calcite NW 82.50 133.50 51.00 113 0.29 124
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NV06-310 Calcite NW 59.00 92.00 33.00 138 0.07 141
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NV06-311 Calcite NW 103.50 110.23 6.73 201 1.00 241
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NV06-312 Calcite NW 27.30 44.00 16.70 110 0.64 135
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NV06-313 Calcite NW 32.00 47.00 15.00 47 0.27 58
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NV06-314 Calcite NW 50.00 60.98 10.98 443 0.86 477
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NV06-315 Calcite NW 53.83 64.42 10.59 123 2.44 221
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NV06-316 Calcite Hill 64.77 197.00 132.23 60 0.30 72
including Calcite Hill 64.77 77.00 12.23 75 2.52 176
including Calcite Hill 110.00 128.00 18.00 104 0.00 104
including Calcite Hill 168.16 197.00 28.84 135 0.23 144
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NV06-317 Calcite Hill 72.98 197.00 124.02 296 0.30 308
including Calcite Hill 95.00 116.73 21.73 945 0.63 970
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NV06-318 Calcite Hill 78.43 191.00 112.57 209 2.91 326
including Calcite Hill 78.43 94.18 15.75 675 17.94 1393
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NEWS RELEASE JULY 10, 2006
IMA EXPLORATION INC. PAGE 3
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(LWA)(3)
COMPOSITE (LWA)(2) (LWA)(2) SILVER
DDH LOCATION FROM TO LENGTH SILVER LEAD EQUIV.
(metres) (metres) (metres)(1) (g/t) (%) (g/t)
=====================================================================================================================
NV06-319 Loma de la Plata 0.00 11.00 11.00 897 0.54 919
including Loma de la Plata 0.00 5.00 5.00 1,829 0.29 1,841
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NV06-320 Loma de la Plata 0.00 19.50 19.50 121 0.00 121
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NV06-321 Loma de la Plata 0.00 13.70 13.70 185 0.00 184
and sediment-hosted 23.60 30.10 6.50 37 0.83 70
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NV06-322 Loma de la Plata 0.00 17.00 17.00 230 0.00 230
and sediment-hosted 29.75 37.00 7.25 88 0.52 109
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NV06-323 Loma de la Plata 0.00 24.00 24.00 217 0.08 221
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PREVIOUSLY RELEASED HOLES FROM LOMA DE LA PLATA(4)
=====================================================================================================================
NV05-241 Loma de la Plata 0.00 31.50 31.50 562 0.38 577
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NV05-242 Loma de la Plata 0.00 28.40 28.40 236 0.10 240
including Loma de la Plata 0.00 19.50 19.50 322 0.11 327
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NV05-243 Loma de la Plata 3.00 32.51 29.51 59 0.05 61
including Loma de la Plata 3.00 11.27 8.27 140 0.00 140
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NV05-244 Loma de la Plata 3.00 10.56 7.56 90 0.24 100
including Loma de la Plata 3.00 7.07 4.07 140 0.16 147
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NV05-245 Loma de la Plata 3.00 8.00 5.00 172 0.00 171
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Notes:
1. True thickness has not been calculated for these holes.
2. All length weighted averages (LWA) are "uncut" ie 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 the same method as used in the
resource calculation release on February 16, 2006.
4. Results for hole NV05-241 are corrected herein from the original press
release (October 13, 2005) which had a data entry error that affected the
length weighted average grade calculation.
5. A complete list of all results to date is available on IMA's website
(www.imaexploration.com).