Issue link: http://resourceworld.uberflip.com/i/107613
becomes clearer," Faass said. "[Meanwhile,] Venezuela has recently taken control over certain mining projects from private investors, but have been unable to fully develop their own potential…For the time being, there will most likely be a freeze in mining projects until Venezuela finds suitable investors that are willing to go along with them," Luján said. "However, there are new potential players, particularly Chinese and Russian investors, for whom South America might be a new frontier. They might think that now is a good opportunity to enter the market, despite some of the challenges presented." But for all the difficulties, past, present 10 www.resourceworld.com and future, South America remains underexplored with seemingly inexhaustible potential. For mining companies small and large, the rewards and opportunities are great. The South American canvas is too large to identify and detail every operator; what follows is an examination of some of the region's most exciting projects and key developments in recent months. Aguila American Gold Ltd. [AGLTSXV] is focused on its Angostura gold project in south Peru. The latest drill campaign started on October 25 and will build on earlier trenching and geochemical sampling results. AndeanGold Ltd. [AAU-TSXV] increased its latest private placement on December 5 to just over $1.27 million, up from $1.2 million. At a 90 grams per tonne (g/t) silver cut-off, AndeanGold's Urumalqui gold project in Peru contains an NI 43-101-compliant inferred resource of almost 10.7 million ounces silver and 86,000 ounces gold. AndeanGold also holds properties in Ecuador. Anglo American Plc. [AAUKY-PK; London; Jo'burg] has interests in several operations across South America, including a 44% stake in the Collahuasi copper mine, in Chile. Overall, South American copper output reached 157,300 tonnes in Q3 2012 as the Los Bronces Mine in central Chile (51%-owned by Anglo) ramped up production. Meanwhile, development of Anglo's Minas-Rio iron ore project in Brazil continues, with the company anticipating first ore deliveries during H2 2014. Antioquia Gold Inc. [AGD-TSXV; AGDXF-OTCQX] released the final results for its 46-hole drill campaign on the Guaico and Guayabito deposits at its Cisneros gold project in Colombia on November 29. Highlights included GCO12-036 at Guaico, which intersected 8.2 g/t gold from 390.2-398.9 metres, and GYB12-086, which intersected 6.3 g/t gold from 180.8-187 metres. Apogee Silver Ltd. [APE-TSXV] is advancing the Pulacayo-Paca silver-lead-zinc project in south-west Bolivia. In September, the company overhauled the project's resources, with indicated levels comprising just over 60 million ounces silver, 253 million lbs lead and 507 million lbs zinc. AQM Copper Inc. [AQM-TSXV] released a preliminary economic assessment (PEA) for its flagship, southern Peruvian Zafranal copper-gold project on December 11. The in-pit resource, suitable as feed, stands at 425.3 million tonnes, grading 0.38% copper and 0.07 g/t gold for 3.5 billion lbs copper and 977,000 ounces gold contained. Capex is estimated at $1.52 billion. Atico Mining Corp. [ATY-TSXV] is exploring the El Roble copper-gold property in Colombia. The property already hosts a mine and processing facilities run february 2013