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 JANUARY , 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 January 13, 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.
IMA EXPLORATION INC.
Suite 709 - 837 West Hastings Street, Terminal
City Club Tower, Vancouver, B.C. V6C 3N6
Tel: 604-687-1828 o Fax: 604-687-1858 o 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)
NEWS RELEASE January 13, 2003
IMA Prepares to Drill in Patagonia, Argentina
IMA Exploration Inc. is pleased to announce that preparations for Phase I
drilling its 100%-owned Las Bayas gold project, in the Patagonia region of
Southern Argentina, are now underway. Drill sites are being prepared, all
required government permits have been received and a detailed 2,000 metre (6,500
feet) diamond drill plan has been established. Drilling is expected to commence
before the end of January, at which time a news release will be issued by the
Company.
The approximately 20 hole Las Bayas drill program will focus on several highly
prospective low-sulphidation epithermal gold veins within a 4.5 x 1.5 kilometre
zone of intense quartz veining, at the southern end of the previously announced
10 kilometre long Las Bayas Mineralized Corridor. Over 15 kilometres of quartz
veins have been mapped within the Las Bayas gold vein system and four high
priority gold bearing veins will be drill tested during the Phase I drill
program, including the Bola Vein, Laguna Veins (Northwest, Central and
Northeast), Voladura Vein, and the Puesto Vein.
Highlights From Las Bayas Phase I Surface Program
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Las Bayas Highlights Gold Gold Silver SampleWidth Sample #
Equiv. (g/t) (g/t) (m)
(g/t*)
----------------------------------------------------- --------- --------- --------- ----------- -----------
Bola Vein (Previously announced)
o 350 meter known strike length 27.13 15.33 826.3 0.2 M554
----------------------------------------------------- --------- --------- --------- ----------- -----------
o Up to 4 meters wide on surface 16.18 8.41 544.0 1.45 2441
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6.22 5.64 40.7 1.6 2437
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Laguna Veins (NE, Central and NW)
----------------------------------------------------- --------- --------- --------- ----------- -----------
o Combined 1,260 meter known strike length 3.97 1.74 156.0 0.5 2775
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o 1.7 to 15 meters wide on surface 6.56 3.73 198.0 0.45 2774
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4.00 1.43 180.0 0.25 2773
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5.58 4.52 74.0 0.2 2784
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3.85 2.05 126.0 1.45 2781
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6.6 6.31 20.1 0.8 2796
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Voladura Vein
----------------------------------------------------- --------- --------- --------- ----------- -----------
o 1,400 known strike length 2.65 2.54 7.7 3.3 518
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o Up to 22 meters wide on surface 3.11 2.96 10.4 3.75 521
----------------------------------------------------- --------- --------- --------- ----------- -----------
1.91 1.73 12.7 0.1 524
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Puesto Vein
----------------------------------------------------- --------- --------- --------- ----------- -----------
o 1,000 meter known strike length 1.79 1.56 16.4 1.65 2487
----------------------------------------------------- --------- --------- --------- ----------- -----------
o Up to 8 meters wide on surface 4.31 4.20 7.6 1.25 2493
----------------------------------------------------- --------- --------- --------- ----------- -----------
2.92 2.83 6.6 1.05 2497
----------------------------------------------------- --------- --------- --------- ----------- -----------
*grams per tonne (g/t); Gold Equivalent (Au+Ag/70)
News Release January 13, 2003
IMA Exploration Inc. Page 2
The veins targeted for drilling have been identified by IMA's geologists as the
upper levels of a low-sulphidation epithermal gold vein system, with surface
signatures similar to the geological model of the recently discovered Esquel
deposit (3.8 million ounces of gold, 6.9 million ounces of silver) located
approximately 150 km to the north. As previously reported, high arsenic (up to
1,146 ppm), antimony (up to 261 ppm) and mercury values (up to 23,700 ppb)
combined with mapped and petrographically defined vein textures indicate that
the present level of erosion at Las Bayas is above the predicted `boiling' or
bonanza-grade gold zone within the classic Buchanan geological model. This model
predicts that the target depth for a high-grade gold discovery would be 50 to
100 metres below the present surface.
Las Bayas is located in Chubut Province of southern Argentina at an elevation
between 675 and 800 metres. The project has year round highway access, is four
hours drive from an airport, has water available on the property and has labour
located nearby in several local towns.
Assays for the Patagonia Phase I surface program have been performed by ALS
Chemex, and check assays have been carried out by an independent lab, Alex
Stewart Assayers. Dr. Paul Lhotka, P.Geo., is IMA's Qualified Person for Chubut
Province, Argentina, in compliance with National Instrument 43-101.
IMA is a pioneer and veteran of Argentina's mining exploration industry and is
well positioned to take advantage of highly prospective gold projects as they
become available. The Company's network of contacts has been developed over the
past 10 years, enabling IMA to quickly identify new opportunities and negotiate
advantageous terms, especially since the recent devaluation of the Argentine
peso.
ON BEHALF OF THE BOARD
/s/ Gerald G. Carlson
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Dr. Gerald G. Carlson, P.Geo., 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 3