Kobex Minerals Inc.
|January 06, 2005|
More High Grade Silver at Loma de la Plata and Sector Zeta on IMA's Navidad Silver-Lead Project
IMA Exploration Inc. (IMR - TSX.V, IMXPF - OTC.BB) is pleased to announce the complete results of surface rock sampling at the Loma de la Plata and Sector Zeta targets on it's 100% owned Navidad project in Patagonia, Argentina. Loma de la Plata and Sector Zeta are located approximately 4 km to 5 km to the west of Galena Hill Deposit. Both zones show excellent potential to add to the 268 million ounce indicated silver resource (80.8 Mt @ 103 g/t silver) that has been defined to date at Galena, Connector, and Navidad Hills (see attached map).
At Loma de la Plata, an area of approximately 400 x 400 metres, has been systematically sampled with twelve lines of continuous and semi-continuous channel samples, these sample lines range in length from 12.5 to 135.9 metres (see attached table). New results from the Loma de la Plata results include the following:
Line LP-2: 103.3 metres of 290 g/t silver
Previously announced results (see December 9, 2004 news release) include the following:
Line LP-1: 40.1 metres of 740 g/t silver
At Sector Zeta, seven sample lines ranging in length from 6.7 to 60.0 metres have been completed covering an area of approximately 80 by 100 metres (see attached figure). Highlights of the Sector Zeta results include:
Line Z-5: 8.0 metres of 105 g/t Silver and 1.14% Copper
Ongoing work and pending results from the Navidad project include Phase III drilling (13 holes were competed prior to the Christmas break), the expanded soil sampling grid (1,366 new samples collected to the southwest of the present grid), a large expansion to the geophysical grid, and ongoing prospecting, mapping, and rock sampling. Results from this work and continued Phase III drilling at Calcite Hill, Navidad Hill, and the Connector Zone will be released as they become available.
The Loma de la Plata zone is hosted within quartz-eye latite volcanic rocks that dip to the northeast at 15 to 45 degrees. Mineralization occurs in micro-veinlets and breccia zones and consists primarily of minor galena and copper oxides with common native silver. A more complete geological description of the Loma de la Plata zone can be found in the December 9, 2004 press release that included partial results from sample lines LP-1 to LP-7, more detailed maps and cross sections of the zone can be found at IMA's website (www.imaexploration.com).
Mineralization at Sector Zeta predominantly consists of green copper oxides within argillicly altered latite volcanic rocks that are often brecciated. IMA geologists interpret that the volcanic rocks which host mineralization here are part of the same volcanic unit that hosts mineralization at Galena and Navidad Hills and also at Loma de la Plata. At present, the orientation of the mineralized zone at Sector Zeta is unknown, drill data will be needed to unambiguously define the geometry and size of the mineralization.
The possibility of leaching, or alternatively, concentration of silver and copper values at or near surface, particularly at Sector Zeta in the case of copper, can not be determined from the data available to date. Drilling will be required to determine the distribution of grades at depth and the true thickness of the mineralization at Loma de la Plata.
Dr. Paul Lhotka is IMA's Qualified Person for the Navidad project under National Instrument 43-101 regulations and has overseen all aspects of the current program. For more information and maps depicting the work described herein please visit IMA's web site at http://www.imaexploration.com/.
IMA is well financed to execute several significant drill programs to continue to test the numerous remaining targets at Navidad as well as conduct a regional review of the Company's large adjoining land package. The Company has over 10 years experience in Argentina and is focused on the exploration and development of its' 100% owned Navidad silver discovery.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso, President & CEO
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 , 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.
You can view the Next News Releases item: Thu Jan 13, 2005, Phase III Drilling Intersects Thick Mineralized Body at Calcite Hill, 470 Metres Northwest of Navidad Hill
You can view the Previous News Releases item: Thu Dec 9, 2004, Trenching Returns 40m of 740 g/t (21.6 oz per ton) Silver on the Loma de la Plata Zone at Navidad
You can return to the main News Releases page, or press the Back button on your browser.