IMA Intersects Silver Mineralization Between Navidad and Galena Hills.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 23, 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. )(FRANKFURT:IMT)(WKN WKN Wertpapier-Kenn-Nummer (identifying number assigned to securities traded in Germany) WKN Warrior Knowledge Network (US Army) : 884971) is pleased to announce results from drill holes 31 through 40 from the Company's 100% owned Navidad Project. Highlights include the first drill holes between Navidad and 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. Hills where significant silver intercepts were returned from holes 32, 34, and 40 suggesting a connection between silver 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. at Navidad Hill and the Galena Hill silver deposit. Navidad and Galena Hills are 1200 meters apart. (see Table 1). Prior to these drill holes, 800m remained untested between Navidad and Galena Hills. Five drill holes tested the gap between Navidad and Galena Hills; of these three returned significant silver intercepts. All of the holes within the Galena Hill deposit area contained significant intercepts of silver-lead mineralization and continue to show excellent continuity of mineralization and silver-lead grades. Highlights of results from these drill holes include hole 36 with 49.9 metres of 179.1 g/t silver and hole 37 with 76.3 metres of 139.4 g/t silver including an interval of 3.90 metres with 597.4 g/t silver and 7.23% lead. Hole 40 returned 48.0m of 108.5 g/t silver including a higher-grade interval of 21m of 160.4 g/t silver (see Table 2). Fifty-three diamond drill holes have now been drilled at Navidad Project for a total of 8853.6 metres. Work is now focusing on preparation for the calculation of a mineral resource at the Galena Hill deposit, as well as metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. test work as previously announced. Continued surface exploration, including pole-dipole induced polarization Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials, such as ore. The method is similar to electrical resistivity tomography, in that an electric current is induced into the subsurface through two electrodes, and voltage is geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. , is to start soon and will aid in defining additional targets for the next round of drilling. The Phase II drill program is being planned and is expected to begin shortly. Drill results from holes 41 to 53 will be released as they are received, and an updated summary of drill hole results and locations is available on IMA's website (www.imaexploration.com), as is a summary of the Company's rigorous quality-control and quality-assurance procedures. Dr. Paul Lhotka is IMA's Qualified Person for the Navidad project and has overseen all aspects of the current program. Technical Summary Five exploration drill holes (NV04-32, 33, 34, 39, and 40) were drilled in the 800m gap between the Galena Hill deposit and Navidad Hill. This area is largely covered by soil and/or post-mineral rock cover but has an important soil geochemical anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. and a weak to moderate gradient gradient In mathematics, a differential operator applied to a three-dimensional vector-valued function to yield a vector whose three components are the partial derivatives of the function with respect to its three variables. The symbol for gradient is ∇. induced-polarization chargeability anomaly. These holes were drilled on sections spaced approximately 200m apart. Please see the drillhole location map posted at www.imaexploration.com for collar locations. Drill hole NV04-34 is a 180m step-out from the last hole drilled at Navidad Hill and was inclined at -45 degrees grid north The northerly or zero direction indicated by the grid datum of directional reference. . It intersected a zone of veining vein·ing n. Distribution or arrangement of veins or veinlike markings. and stockwork that appears to be mainly structurally-controlled and is likely steeply dipping similar to the mineralization at Navidad Hill. This hole returned silver grades of 75.1 g/t over 18.7m. The true width of this mineralization is interpreted to be approximately 13.2m. Hole NV04-40 was collared 220m southeast of 34 and was inclined at -45 degrees towards grid north. It intersected blind mineralization of 48.0m grading 108.5 g/t silver with low base metal values and included 21.0 metres of 160.4 g/t silver. This mineralization appears likely to be steeply dipping and structurally controlled and it was not intersected by hole NV04-39, which was drilled 100m further to the south. Drill hole NV04-32 was also drilled grid north at -45 and is located 200m southeast of hole 40. It intersected what appears to be primarily structurally-controlled veinlets and stockwork mineralization, 49.6 metres in length that grades 77.9 g/t silver with low base metals values. Further drilling is warranted in this area to define what appears to be a zone of continuous silver mineralization between Navidad and Galena Hills. In summary, the first round of drilling between Navidad and Galena Hills appears to have discovered significant structurally-controlled mineralization characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by low base metal contents but yet with significant silver grades. This type of mineralization does not respond well to geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. exploration and more drilling will be required to determine the distribution, grade and orientation of the mineralization in the initial holes. The four holes drilled at Galena Hill deposit included NV04-31, 36, 37, and 38. Highlights of stratigraphically and structurally controlled silver mineralization include 49.9m of 179.1 g/t silver in hole 36, and 76.3m of 139.4 g/t silver in hole 37 (see Table 1). Intercepts ranged from 31.1 to 76.3 metres with true thicknesses estimated at greater than approximately 90% of these values. Hole NV04-31 was drilled on section 51160E between previously announced holes NV03-03 and NV03-04 whereas holes NV04-35, 36 and 37 are on a new section at 50890E spaced at intervals coming or happening with intervals between; now and then. See also: Interval of about 80m. The Company's lawyers are currently evaluating the statement of claim filed by the Argentinian exploration subsidiary of Aquiline Resources. After a full evaluation of the statement of claim, IMA will file a statement of defense. IMA's position remains that these accusations are opportunistic opportunistic /op·por·tu·nis·tic/ (op?er-tldbomacn-is´tik) 1. denoting a microorganism which does not ordinarily cause disease but becomes pathogenic under certain circumstances. 2. and without merit. For more information please visit IMA's web site at http://www.imaexploration.com/. 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.
Table 1: Exploration Drill Holes outside of Galena Hill Deposit.
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Total Inter- g/t % % %
Drill- Length From To section Silver Copper Lead Zinc
hole (metres) (metres) (metres) (metres) (LWA) (LWA) (LWA) (LWA)
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NV04-32 154.5 46.50 96.05 49.55 77.9 0.04 0.14 0.03
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NV04-33 149.0 no significant results
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NV04-34 228.2 10.50 29.20 18.70 75.1 0.01 0.70 0.05
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NV04-35 292.0 no significant results
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NV04-39 215.0 no significant results
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NV04-40 127.2 43.20 91.20 48.00 108.5 0.04 0.22 0.16
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including 67.20 88.20 21.00 160.4 0.08 0.19 0.09
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Table 2: Drill Holes at Galena Hill Deposit.
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Total Inter- g/t % % %
Drill- Length From To section Silver Copper Lead Zinc
hole (metres) (metres) (metres) (metres) (LWA) (LWA) (LWA) (LWA)
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NV04-31 296.0 3.05 23.85 20.80 51.7 0.00 1.25 0.05
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and 47.35 78.45 31.10 71.0 0.00 2.62 0.31
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including 73.85 75.95 2.10 618.6 -0.01 18.82 3.58
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NV04-36 77.0 8.00 57.90 49.90 179.1 0.08 1.21 0.17
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including 14.00 209.5 0.10 0.97 0.15
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NV04-37 102.5 12.80 89.10 76.30 139.4 0.04 1.28 0.12
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including 13.80 17.70 3.90 597.4 0.02 7.23 0.58
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NV04-38 107.0 20.70 61.20 40.50 105.2 0.04 0.40 0.10
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including 34.10 52.55 18.45 168.3 0.07 0.12 0.12
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Notes: 1. All length weighted averages (LWA) are "uncut".
2. A complete list of all results and collar locations to date
is available on IMA's website (www.imaexploration.com).
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 guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. strictly prohibit pro·hib·it tr.v. pro·hib·it·ed, pro·hib·it·ing, pro·hib·its 1. To forbid by authority: Smoking is prohibited in most theaters. See Synonyms at forbid. 2. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 presults may differ materially from those currently anticipated in such statements. 2004 Number 11 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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