Northwire Canada EditionFriday, July 10, 2026
Sign inSubscribe
Northwire
⌕
TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
Production / Operations Routine +

Tower Receives Permit for New Diamond Drilling Program at Rabbit North

Tower Resources Resumes Drilling at Rabbit North as Gold Grades Hold Steady Amidst Price Correction

By The Northwire Desk — AI Analysis Apr 23, 2026 · 07:01 TWR · 0.165 Tower Resources Ltd.
Executive Summary
  • Date: 2026-04-23
  • Event Type: Operations Update – Permit Approval
  • Summary: Tower Resources received regulatory approval to resume diamond drilling at its Rabbit North orogenic gold discovery.
  • Scope: Up to 15 approved drill sites mobilized, with a minimum of ten sites planned (some featuring second holes).
  • Objectives: Close the untested gap between Thunder North and Blue Sky zones, extend Thunder zone westward toward Durand Creek Fault, and test a historical gold intersection.
  • Technical Details: Hole 73 extension targets depth of 300m to test high-grade Thunder North zone; four holes planned for the 400m gap between zones at 50m intervals.
  • Geological Context: Targets are "blind" due to glacial till and Miocene basalt lava flows covering Mesozoic basement rocks.
Material Impact
  • News Rating: Routine - Positive
  • Assessment: The news confirms operational execution following the high-grade assay results released in March 2026 (40.05 g/t Au). While technically positive, it is an administrative step to resume drilling after a holiday pause and does not introduce new geological data or financial terms.
  • Market Context: Despite strong drill results in March 2026, the stock price declined from $0.24 (Jan/Feb) to $0.17 (April). This suggests the market has already priced in the exploration progress or remains skeptical about near-term monetization without a resource estimate.
  • Expectations: The permit aligns with previous announcements regarding the 3,000m+ drilling program funded in October 2025. It is not unexpected and therefore lacks immediate material upside potential relative to the company size.
TWR · Price
Company Overview
  • Company: Tower Resources Ltd. (TSXV: TWR).
  • Flagship Project: Rabbit North Gold Property (Kamloops Porphyry Cu Mining District, BC).
  • Project Status: Exploration phase with ongoing diamond drilling.
  • Key Zones: Thunder North, Blue Sky, Lightning Zone.
  • Geology: Orogenic gold system hosted in shear zones within Nicola volcanics and Durand diorite stock.
  • Infrastructure: Year-round drill access; proximity to active mines (Highland Valley, New Afton).
Read the original news release →

More from Tower Resources Ltd.

Jul 07, 2026 · 17:01

Tower raised capital to fund Rabbit North drilling, extending its financial runway despite ongoing cash burn concerns.

Financings Jun 25, 2026 · 07:01

Tower Makes Good Progress Infilling Gaps Between Gold Zones at Rabbit North

Drill Results Jun 16, 2026 · 17:01

Tower Resources secured $1.72 million for Rabbit North drilling, with dilution offset by strategic director participation and exploration momentum.

Financings Jun 03, 2026 · 07:31

Tower Resources advances drilling at Rabbit North to validate high-grade zones at Blue Sky and Thunder North despite logistical challenges.

Drill Results Mar 18, 2026 · 07:31

High-Grade Thunder North Extension Validates Structural Model at Rabbit North

Drill Results Feb 19, 2026 · 07:01

Tower Resources expands shallow gold footprint at Rabbit North as assay results confirm continuity but fail to ignite price action above recent financing levels

Drill Results