im not to sure about the caprice with the lt1 but my camaro had a lt1 in it and it was leaking oil from the front of the timing cover, i hear its a common problem on the lt1 camaros.
all i did was cleaed the area real good with foamy engine brite and some carb cleaner, let it dry then blew it out with my compressor, after it was dry i took some rtv silicone and smeared it into the space where the oil pan meets the front cover and let it dry for 24 hrs.
it worked great, and still to this day the car has almost 10,000 more miles on it and no leaks!!
if this is the problem, its an easy fix and it will only cost you about 10 bucks tops.
good luck and keep us posted.