Consider this tweet from Bret Dawson of Rivals.com:
Joker Phillips said Towles can "now get up on his toes," a good sign for a high ankle sprain. He'll be evaluated tomorrow and Wednesday.— Brett Dawson (@BDawsonRivals) October 15, 2012
Joker Phillips says Patrick Towles has been upgraded from out to doubtful this week. Ankle is improving, but still may not be able to go.— Jeff Drummond (@JDrumUK) October 15, 2012
This is very good news for Kentucky, and even though I would not expect Towles to be able to go this week against Georgia Bulldogs, it is quite possible that he will be a possibility for the Missouri Tigers game two weeks from Saturday.
I know many people would suggest that Phillips just not play him, but if he's healed and doesn't play, the medical hardship waver probably wouldn't be granted. His current state of progression suggests he'll be ready to go well before the season, and the redshirt is already off him. Judging from some of the things we saw from his first game, he may be able to help us at least show some kind of offense before the season is over.
We'll have more on this as it develops, but my impression that Missouri is the soonest Towles could return.