Kobex Minerals Inc.
|January 29, 2004|
Excellent Silver Results At IMA's Navidad Discovery Increase Drilling Commitment to 8,500 meters
|IMA Exploration Inc. in pleased to announce that the drilling program at the Company's 100% owned Navidad silver discovery in Patagonia, Argentina, resumed on January 11, 2004 and to date has completed 23 drill holes consisting of 3,500 meters of core. So far the results of 11 holes have been previously announced and the remaining 12 holes will be released as the assay results are received. Furthermore, management has approved an additional 5,000 meters of drilling which will focus on a chargeability anomaly at Galena Hill with a surface footprint of 1.6 km x 1.3 km that starts near surface and in some cases extends to depths of approximately 300 metres. |
With approximately $4,500,000 in the treasury, the Company has the financial strength to carry out its exploration objectives at Navidad and does not require additional financing in the immediate future to complete the planned drilling at Navidad. As of January 15th, IMA had 36.6 million shares issued and outstanding and 45 million fully diluted, including 6 million warrants that are all above their exercise price.
IMA has implemented a rigorous quality control and quality-assurance program at the Navidad project. For details of this program please see the document posted www.imaexploration.com in the Navidad property section. Dr. Paul Lhotka, P.Geo. is the "Qualified Person" at the Navidad Project and has overseen all aspects of sample and data handling.
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
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 firstname.lastname@example.org, 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.
2004 Number 4
You can view the Next News Releases item: Thu Feb 5, 2004, IMA's Drilling at Navidad Intersects 115 Meters Grading 454 g/t (13 oz/t) Silver at Galena Hill
You can view the Previous News Releases item: Thu Jan 22, 2004, Drilling On Navidad Hill Intersects 69m Grading 275 g/t Silver
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