Caracara Silver's Option Agreement Ended

Caracara Silver Inc. (TSX VENTURE:CSV) (the "Company" or "Caracara") reports
that it has received notice from Stellar Mining's subsidiary company,
Inversiones Collodi SAC ("IC") terminating its option agreement signed May 2013
with Caracara. IC is a private Peruvian mineral exploration and development
company based in Lima.


During the past four months, IC carried out a 3,049-m drilling program on the
Princesa silver-zinc-lead project. No drilling was carried out on Caracara's
principal Pilunani zinc-lead project and the Parcuyo project, as was originally
contemplated.


Caracara did benefit from a $250,000 option payment and the payment of all
concession land fees which will allow the Company to maintain its large
23,100-hectare land position in Peru to May, 2015. 


As a result of the termination of the option agreement, Caracara retains a 100%
interest in these highly prospective concessions.


Princesa

Caracara and IC carried out 3,049 metres of drilling on the Princesa project.
The final hole in that program, PRIN13-16 was drilled to test an induced
polarization geophysical anomaly, 200 meters southeast of the main Princesa
structure.


This exploration hole intersected 2.1 m grading 129.6 grams silver per tonne and
0.92% combined lead-zinc.


Princesa is located 850 kilometres south east of Lima in Puno Province and hosts
a 43-101 compliant resource estimate totalling 4.6 million tonnes in the
inferred category, grading 90.88 grams silver per tonne and 1.69% zinc and 1.61%
lead. 


The Princesa NI 43-101 Technical Report can be found on the Company's website
www.caracarasilver.com and on www.sedar.com.


Pilunani

The Pilunani zinc-lead project, located 20 kilometres southeast of the Princesa
project, is a high priority target with potential for hosting near surface
zinc-lead mineralization.


Drilling completed by previous operators intersected high grade zinc and lead
mineralization associated with a stratabound manto type deposit hosted in
limestone and widespread low grade zinc and lead mineralization hosted in
siltstone.


Some of the more encouraging intersections which require follow up investigation
include:




--  Hole PIL-1 - 20.2 metres grading 6.54% zinc and 5.14 % lead. (1) 
--  Hole PIL-6 - 17.1 metres grading 5.18% zinc and 1.63% lead 
--  Hole PIL-9 - 18.75 metres grading 5.71% zinc and 1.11% lead 
--  Hole PIL-10 - 9.55 metres grading 6.8% zinc and 15.44% lead 



(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. 


A complete list of historic drill results with corresponding cross sections and
plan maps from the Pilunani project is included in a NI 43-101 technical report
available on Caracara's website at www.caracarasilver.com and on www.sedar.com.


In 2013, Caracara and IC completed a detailed geology review, re-assessed all of
the geophysical data and have received from its environmental consultant an
Environmental Study which is ready to be submitted to the Peruvian authorities.
Once approved by these authorities, Caracara plans to conduct a drill program in
the first quarter of 2014 to follow up on the very promising historic drill
results noted above. 


Parcuyo

The Parcuyo project, located approximately 28 kilometres northwest of the
Princesa project, is an early stage silver-lead-zinc prospect. The target at
Parcuyo has been defined by surface mapping and sampling over a 200-metre by
100-metre area. 


IC had originally planned to drill 1,000 metres to test a large area of surface
mineralization. This program has now been postponed.


Mineralization is hosted by diatreme clastic breccias and includes high grading
grab samples such as 28% zinc and 18.8% lead and 16% zinc and 12.6% lead.
Parcuyo has never been drill tested.


Qualified Person

Mr. Alain Vachon, P.Geo, Caracara Silver's Vice President Exploration and the
Company's Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the contents of this press release.


About the Company

Caracara Silver Inc. is focused on acquiring, exploring and developing silver,
zinc and lead resources to meet the world's growing demand. The Company holds 43
concessions totalling 29,099 hectares in Southern Peru.


Caracara has 50,821,167 shares issued and outstanding and trades on the TSX
Venture Exchange under symbol: CSV.


THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR
ADEQUACY OF THIS RELEASE.


This news release may contain forward-looking statements that are based on
Caracara Silver Inc.'s expectations, estimates and projections regarding its
business and the economic environment in which it operates. These statements are
not guarantees of future performance and involve risks and uncertainties that
are difficult to control or predict. Therefore, actual outcomes and results may
differ materially from those expressed in these forward-looking statements and
readers should not place undue reliance on such statements. Statements speak
only as of the date on which they are made, and Caracara Silver Inc. undertakes
no obligation to update them publicly to reflect new information or the
occurrence of future events or circumstances, unless otherwise required to do so
by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release and has in no way
passed upon the merits of the qualifying transaction and has neither approved
nor disapproved of the contents of this press release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Caracara Silver Inc.
Nick Tintor
President and CEO
Office: 416-987-0855
ntintor@rgmi.ca


Caracara Silver Inc.
Leslie Haddow
Corporate Secretary
Office: 416-637-3523
lhaddow@rgmi.ca
www.caracarasilver.com
Caracara Silver Inc. (TSXV:CSV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024