IMA Exploration Inc.: Drilling Expands Size and Silver Grade of Navidad Mineralized System.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 6, 2004 IMA (Interactive Multimedia Association, Annapolis, MD) An earlier trade association founded in 1988 originally as the Interactive Video Industry Association. It provided an open process for adopting existing technologies and was involved in subjects such as networked services, scripting Exploration Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :IMXPF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:IMR IMR - Internet Monthly Report ) (BERLIN:IMT IMT, n.pr See inspiratory muscle training. ) (FWB (Fixed Wireless Broadband) See fixed wireless. :IMT) is pleased to announce additional results from drill holes 4 & 5 drilled on Galena galena (gəlē`nə) or lead glance, lustrous, blue-gray mineral crystallizing usually in cubes, sometimes in octahedrons. It is the most important ore and the principal source of lead. Hill at the Company's 100% owned Navidad Project. Highlights include 137 metres (m) grading 117 grams per tonne (g/t) silver from drill hole 4, 83m grading 229 g/t silver from hole 5. Results from the completed drill holes 6 to 11 will be released as available and the drill crew is now on route to complete the remaining 1,700 m in the Phase 1 program. IMA's Geologists are very excited by the size potential indicated by the results to date. Upon completion of the Phase 1 program results will be analyzed to prioritize drill targets and to delineate the scope of the Phase 2 drill program. Technical Summary Drill hole NV03-04 was drilled to a depth of 287.9m at an angle of -45 degrees and intersected brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec volcanic rocks containing significant sulphides (principally galena +/- pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. ) from surface to 266.7m. The upper 200.2m of this hole returned an average grade of 92.3 g/t silver and 2.49% lead including 55.1m of 164.3 g/t silver and 2.97% lead from 39.6 to 94.7m (see table below and attached section for complete results: http://www2.cdn-news.com/database/fax/2000/0106imr.pdf). This very long intersection of strongly mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. rock correlates extremely well with anomalous chargeability values as measured by pole-dipole IP on section 51200E and suggests that much of the remaining 1.3 x 1.6 km chargeability anomaly may be mineralized with galena and associated silver. Partial results from hole NV03-04 were previously reported (see Dec 17, 2003 release). NV03-05 was drilled to a depth of 217.7m at an angle of -60 degrees and intersected 27.5m of pyritic mudstone mud·stone n. A fine-grained, dark gray sedimentary rock, formed from silt and clay and similar to shale but without laminations. mudstone before penetrating 125.1m of the same mineralized volcanic breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. cored by hole NV03-04. Length weighted average grades include 229.2 g/t silver and 4.24% lead over 83.0m including 18.3m of 503.0 g/t silver and 11.19% lead. The layered pyritic mudstone is important in that it demonstrates the existence of a restricted basin into which sulphides accumulated (principally pyrite in hole NV03-05) indicating that the Navidad system vented hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. fluids to the paleosurface in a subaqueous environment. This mudstone contains elevated zinc values (0.81% over the entire 27.5m intersection) and strong silver and lead values near its bottom contact where it contains crosscutting cross·cut·ting n. A technique used especially in filmmaking in which shots of two or more separate, usually concurrent scenes are interwoven. Also called intercutting. stringer veinlets of galena. Drill holes NV03-04 and NV03-05 were drilled on section 51,160E and were collared 133m apart. Previously announced hole NV03-03 was drilled on the same section and intersected 175.5m of 26.0 g/t silver and 1.35% lead over its entire length. It now appears that NV03-03 was drilled at a shallow angle to the dip of the strata and never crossed the core of the target. Holes NV03-04 and 05 appear to cross the geological units closer to perpendicular and indicate true thicknesses of mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. of 70 to 140m. Together these three holes indicate a mineralized horizontal width of at least 340m on section 51160E. IMA Exploration Inc. focuses on quality exploration work designed to define economic gold and silver deposits in Argentina and Peru. IMA 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 Mr. Joseph Grosso, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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. 2004 Number 2 Table 2: Results from drillholes 4 and 5 (for results from drillholes 1 to 3 see table 1 in news release Dated Dec. 17, 2003)
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com- g/t
Total Primary posite Si- %
Loc- Length Lith- From To length lver Lead
DDH ation (m) ology (m) (m) (m) (LWA) (LWA)
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NV03-04 Galena 287.98 Volcanic 2.8 266.7 263.9 74.1 2.04
Hill Breccia
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including 2.8 203.0 200.2 92.3 2.49
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including 39.6 176.5 136.9 117.3 2.99
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including 39.6 121.3 81.7 141.5 3.15
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including 39.6 94.7 55.1 164.3 2.97
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including 65.0 94.7 29.7 189.5 3.06
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including 65.0 83.5 18.5 241.2 3.40
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NV03-05 Galena 217.7 Mudstone 43.3 126.3 83.0 229.2 4.24
Hill and
Volcanic
Breccia
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including 46.7 113.3 66.6 271.8 4.82
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including 46.7 55.9 9.2 578.9 6.82
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and Volcanic 89.0 107.3 18.3 503.0 11.19
Breccia
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LWA equals length weighted average (all grades are uncut).
Results for the upper 81.1m of hole NV03-04 were previously released.
The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. |
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