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Tower Resources ( (TSE:TWR) ) has provided an announcement.
Tower Resources Ltd. announced significant gold assay results from its Rabbit North property, with Hole 060 intersecting 23.63 g/t gold over 6.02 meters near the surface. This discovery underscores the potential of the Durand Diorite to host a substantial gold deposit, extending the Blue Sky zone 70 meters along strike and 90 meters upward. The results from the drilling campaign are expected to guide a larger drilling program, potentially impacting the company’s operations and positioning within the mining industry.
Spark’s Take on TSE:TWR Stock
According to Spark, TipRanks’ AI Analyst, TSE:TWR is a Neutral.
The overall score reflects significant financial challenges, with no revenue and persistent losses weighing heavily. Technical indicators suggest weak momentum, further dampening the outlook. However, recent positive corporate events, such as new resource discoveries, offer some promise for future potential, slightly boosting the score.
To see Spark’s full report on TSE:TWR stock, click here.
More about Tower Resources
Tower Resources Ltd. is a company operating in the mining industry, focusing on the exploration and development of gold properties. The company is particularly active in the Kamloops mining district, where it is investigating the potential of the Durand Diorite to host substantial gold deposits.
Average Trading Volume: 64,795
Technical Sentiment Signal: Sell
Current Market Cap: C$17.72M
See more data about TWR stock on TipRanks’ Stock Analysis page.