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.
-------- ----
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): _______
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
--------- ----------
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 20, 2003 By /s/ William Lee
------------------------------ -------------------------------------
(Signature)
William Lee, Director and Chief Financial Officer
---------------------------------------------------------------------
1 Print the name and title of the signing officer under his signature.
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 20, 2003
3. Press Release
A press release dated March 20, 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
- 2 -
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 20th day of March, 2003.
/s/ William Lee
-------------------------------------
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)
--------------------------------------------------------------------------------
NEWS RELEASE March 20, 2003
SOIL GRID EXPANDS TARGET SIZE AT NAVIDAD SILVER DISCOVERY
PATAGONIA, ARGENTINA
IMA Exploration Inc is pleased to announce the results of the recently completed
soil sample grid at its 100% owned Navidad project. The soil grid covers an area
of 4 x 1 kilometres, including the previously reported mineralized zones.
Mineralization includes the Navidad Hill bonanza-grade feeder zone with 402
metres cumulative strike length averaging 6,537 grams per tonne "g/t" (191
ounces per ton "oz/t") silver, 3.5% copper, and 16.6% lead; and a large,
bulk-tonnage replacement style silver-lead target with a 3.2 kilometre
cumulative strike length averaging 158 g/t silver (4.61 oz/t) and 8.9% lead.
Outside of the previously reported Navidad Hill bonanza-grade zone (see attached
map), soil sampling has identified a highly anomalous area of 1,200 metres by
approximately 500 metres with values consistently greater than 2 g/t silver.
These high silver values in soil samples correlate very well with anomalous
copper (>50 ppm Cu) values and reflect the high silver-copper values in the
bonanza-grade silver-copper-lead mineralization at Navidad Hill. These results
indicate an excellent potential for the discovery of new zones of bonanza-grade
silver mineralization similar to those previously reported.
Extending to the northeast and southwest from the 1,200 x 500 metre
silver-copper anomaly, highly anomalous lead values, consistently greater than
500 ppm, occur naturally in soils and define a 4 kilometre long trend that
correlates with, and potentially expands, the known replacement style
silver-lead mineralization. Within this area of high lead values there are
numerous additional soil samples with high silver and copper values, including
values up to 531 g/t silver (15.61 oz/t) and 574 ppm copper.
The above soil samples were taken at 50 metre intervals along lines spaced 200
metres apart. IMA plans to increase the density and size of this soil grid in
order to better define drill targets in combination with geological mapping,
rock sampling, trenching, and geophysics.
IMA Exploration Inc. focuses on quality exploration work designed to define
economic gold and silver deposits in Argentina and Peru. The Company has put
together an enviable property portfolio including over 37 well-located,
high-potential projects and is continuing to add to this package through
grass-roots exploration and staking.
ON BEHALF OF THE BOARD
/s/ Gerald G. Carlson
---------------------------------------
Dr. Gerald G. Carlson, P.Eng., Chairman
[GRAPHIC OMITTED][GRAPHIC OMITTED]
[PLEASE REFER TO OUR WEBSITE: www.imaexploration.com FOR OMITTED MAP]
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.
Number 10 2003