Vancouver– IMA Exploration (IMR-V) has acquired 127 sq. km of ground, dubbed the Victoria claims, that are contiguous with its Las Bayas property in Chubut Province, southern Argentina.
The new property increases IMA’s land holding to 200 sq. km in Chubut province and the junior reports that it is currently reviewing several other new projects. The Las Bayas property is situated along the same geological trend as Brancote Holdings Esquel deposit which hosts a resource of 3.8 million ounces gold.
IMA evaluated satellite data from the Victoria claims and believes that the principle zone of gold bearing quartz veins previously identified on the Las Bayas property may extend up to 4.5 km onto the Victoria claims. The only two rock samples taken from the Victoria claims returned values of 1.4 and 0.8 grams gold per tonne. Further exploration is now being planned for 2002.
Previous sampling of the veining on Las Bayas has returned gold values of up to 25.8 grams gold. IMA reports that individual veins on Las Bayas occur up to 22 metres in width and are exposed intermittently along strike and have been traced over 350 meters. The style of mineralization and trace element signatures on Las Bayas are characteristic of low sulphidation epithermal precious metal mineralization.
IMA states that it will continue to seek new exploration opportunities through its extensive contact base to add to its strategic land position
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