News on IMA, which was/is halted:
Russ, I think you followed this one?
IMA stakes silver-copper-lead discovery at Navidad
IMA Exploration Inc IMR
Shares issued 26,550,606 Jan 30 close $0.60
Mon 3 Feb 2003 News Release
Dr. Gerald Carlson reports
IMA EXPLORATION INC.: BONANZA GRADE SILVER-COPPER-LEAD DISCOV ...
IMA Exploration has acquired by staking a new silver-copper-lead discovery
at its Navidad project in Chubut province, Argentina. This discovery, made
by IMA geologists while conducting grassroots regional exploration in the
district, includes two distinct styles of mineralization:
1. Bonanza silver-copper-lead: Mineralized structures at Navidad Hill have
been defined over a cumulative strike length of approximately 200 metres,
with widths typically from one to three metres and within an area of 55 by
130 metres. Highlights of this sampling include:
ASSAY HIGHLIGHTS
NAVIDAD HILL
Sample
No. Width Silver Silver Lead Copper
(m) (oz/t) (g/t) (%) (%)
M1098-
M1099 1.45 320.8 11,000 3.1 1.1
incl. 0.75 440.4 15,100 2.8 1.6
M1105 0.50 294.6 10,100 2.7 1.3
M1106 0.45 531.1 18,210 3.4 10.5
M1092-
M1094 3.30 224.6 7,700 10.6 4.2
M2139 0.90 437.5 15,000 9.6 5.2
M1085-
M1087 2.35 246.2 8,440 6.8 3.1
incl. 0.75 411.2 14,100 10.0 1.2
M1088 0.55 347.1 11,900 3.6 11.2
Because of surface cover, the full extent of the mineralized system on
surface is not yet known. Stream sediment samples have returned highly
anomalous silver and lead results from the Navidad Hill area, with
anomalies extending up to 1.4 kilometres to the northwest, upstream from
any known mineralization.
2. Replacement silver-lead: Stratabound, replacement-style mineralization
has been traced over a 2.3-kilometre strike length to the southeast of
Navidad Hill. Samples of this style of mineralization have returned values
of up to 359 grams per tonne (10.5 ounces per ton) silver and 9.2 per cent
lead over 2.5 metres.
Elsewhere in Argentina, IMA continues drilling at its highly prospective
Las Bayas low-sulphidation, vein-hosted gold project. The planned drill
program is currently at the halfway point. Results will be released upon
completion of drilling and evaluation of results are expected in late
February. Also, a surface exploration program is under way to define
gold-copper porphyry mineralization at the Mogotes project, San Juan
province, where mapping and sampling continue to expand the area of
mineralization. Under the leadership of its president and chief executive
officer, Joseph Grosso, IMA has been active in Argentina for the past nine
years and was among the first mining exploration companies active in the
country. Early stage exploration was undertaken in the provinces of San
Juan, La Rioja, Jujuy, San Luis, Chubut and Catamarca, where the company
has built excellent relationships with the local communities. Within these
communities, IMA has established ties with local and federal government
officials, contractors, and professionals. The company is active in
developing and implementing programs that best facilitate environmental
protection, and that best respect the history and values of natives and
local communities. |
