Authored by Lemuel Daher.
Here at MarketSmart, we’re more bullish on FOXT than ever.
And for good reason.
The Company is fully cashed up for their ongoing drilling program, is in possession of a standout asset, and has considerable long-term value in a critical market.
And make no mistake, folks – FOXT is undervalued.
FOXT recently strengthened its balance sheet via its asset purchase agreement with Metal Energy. At the same time, the Company’s three diamond drill rigs turn at FOXT’s district-scale, high-grade, 100% owned Fox Tungsten Project.
Now, if you’re at all familiar with this project, you’ll know that the Fox Project is one of the most promising high-grade tungsten assets in North America; in essence, it’s the highest-grade tungsten deposit at the lowest valuation.
You’ll also know that the Fox Project is located in British Columbia – occupying a central location in the province that affords proximity to roads and power.
What you may not know is that the Company recently received authorization to construct a brand-new access trail through a Wildlife Habitat Area.
Note that this is a major step forward for FOXT. It means they will be provided safer and more reliable access for personnel, equipment, and supplies. And with the Company’s dependence on helicopters being lowered – and their ability to access the project being increased – we can expect FOXT’s drilling program to become even more expedient and efficient.
That said, FOXT’s unprecedented 20,000-metre program is already progressing on schedule, with the campaign having already yielded critical updates.
As a result of their focus and commitment, FOXT’s drilling recently intersected multiple new parallel mineralized zones located between 375 meters and 675 meters west of the BK Zone – with drilling successfully intersecting visible scheelite mineralization in multiple target areas, including the several previously unrecognized parallel mineralized zones at Fox North.
While these preliminary visual indications should not be taken as absolute fact, it remains true that scheelite is the main ore mineral that hosts tungsten. For this reason, we can comfortably say that the discovery of scheelite in all three exploration holes completed so far at Fox North is a very encouraging indication.
Scheelite was also observed in all seven RC resource expansion holes drilled to date. These scheelite-bearing intersections extend the known mineralized footprint to the south towards the BN Zone, further supporting the Company’s interpretation that mineralization remains open along strike.
From the beginning, FOXT knew they had a standout asset on their hands in the Fox Project. Not only do these recent observations reinforce and further validate that confidence, but they represent another step toward expanding the existing Fox resource in support of an updated mineral resource estimate, as well as a PEA, in the first half of next year.
Luckily, we won’t have to wait that long for more concrete updates from on FOXT – as the Company is expecting initial assay results in the coming weeks!
So, keep your eyes peeled when it comes to FOXT, as the Company advances a once-in-a-lifetime opportunity!