Why would Barrick Gold pay $1.50 C for shares currently selling for $1.00? Could it be that Barrick knows more than the market?
Press Release 4/19/2000
Barrick Exercises Warrants To Fund Drill Program
Mr. Joseph Grosso, President & CEO, is pleased to announce that Barrick Gold Corporation has exercised warrants at $1.50 to purchase 350,000 shares of IMA Exploration Inc. for total proceeds of $525,000. The funds received will go towards IMA's current drill program in the Pascua -- Veladero region of Argentina. Barrick now owns 18% of the Company's issued and outstanding shares.
A 2,500-metre (7,500 feet) drill program is now underway on the Fabiana target. Fabiana is a well-defined 500-metre long resistivity anomaly on the Company's Potrerillos property. The Fabiana drill target closely fits the local geological model established by Barrick on the neighboring Veladero property (60% Homestake / 40% Barrick), where 7.8 million ounces gold and 147 million ounces silver have been discovered to date.
IMA is a six-year veteran of mineral exploration in Argentina with an extensive contact base in that Country's mining industry. The Company continues to seek new exploration opportunities to add to its strategic land position, which has attracted the interest of several major mining companies as potential joint-venture partners.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso
President & CEO
For further information please contact Joseph Grosso, President & CEO, or Sean Hurd, 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 imaexploration.com.
The Canadian 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 |
