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Caracara Silver Intersects 87 g Silver in Peru

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Caracara Silver Inc., (TSX VENTURE:CSV) announce that the first hole completed on the Princesa silver-lead-zinc project located 850 kilometres south east of Lima, in Puno Department, Peru, has intersected 2.2 m grading 87.8 grams silver per tonne, 1.6% lead and 1.75% zinc in hole PRIN12-01. This intersection was within a wider 9.2 metre section assaying 47.4 grams silver per tonne, 1.47% lead and 1.1% zinc.
 

PRIN12-01 was drilled to verify and test for mineralization between holes PRIN 61 and PRIN 62, which were drilled by a previous company in 2007.

 

A second hole, PRIN12-02 was collared to test the Princesa zone below historic hole PRIN 62 and intersected a 33.7 metres envelope of low grade mineralization, including a higher grading intersection of 3 metres assaying at 32.5 grams silver per tonne, 0.9% lead and 0.74% zinc.

 

A list of the complete drill results is included in the table below.

 

 

----------------------------------------------------------------------------
                                Intersection                                
Hole         From (m)   To (m)       (m) (1)                  Grade         
----------------------------------------------------------------------------
                                              Silver (g/t) Lead (%) Zinc (%)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
PRIN12-01          48       49             1        124.09     0.73     0.33
----------------------------------------------------------------------------
                 63.8       73           9.2          47.4     1.47      1.1
----------------------------------------------------------------------------
including                                2.2          87.8      1.6     1.75
----------------------------------------------------------------------------

----------------------------------------------------------------------------
PRIN12-02       171.3    171.8           0.5          40.6     5.07     0.78
----------------------------------------------------------------------------
                180.8    181.4           0.6            61     2.85     1.36
----------------------------------------------------------------------------
                191.2    194.2             3          32.5      0.9     0.74
----------------------------------------------------------------------------
(1)  Intervals represent the down hole core intersection and, until more    
     data is available on the geometry of the mineralized zone, are not     
     considered true widths
 
 
 
This program is part of a drill campaign designed to explore the Princesa mineralized structure along 2.5 km of strike and to a depth to 250 meters.
 

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/CaracaraMap100112.jpg.

Posted October 1, 2012

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