Authored by Lemuel Daher.
Re-introducing Fox Tungsten – a mineral explorer trading on the TSX Venture Exchange under a brand-new trading symbol: “FOXT.”
We’ve spoken about Fox Tungsten before – back when they were known as ‘Happy Creek Minerals.’ We’re happy about this new name change, as it better reflects the Company’s goals and assets.
When we say ‘assets’, we are of course referring to the Fox Tungsten Project, which is one of North America’s most promising high-grade tungsten projects. Situated in central British Columbia, Fox Tungsten is a resource that combines world-class grades with a strategic location close to infrastructure – making it a standout asset in the global critical minerals landscape.
So, let’s briefly consider that landscape for a moment:
Tungsten prices have exploded to record levels this past January, with prices in Rotterdam hitting an all-time high of around $1,100 (Reuters, 2026). Since then, prices have continued to climb sharply, with benchmark APT prices recently moving above $2,000 per MTU and trending higher. This surge, combined with an enthusiasm for critical minerals in general, presents a rare opportunity for FOXT to play a key role in securing a North American supply of tungsten.
Tungsten is uniquely hard and dense, giving it both industrial uses and national security uses. Consider that tungsten is commonly used in drill bits and machine tools, as well as in military applications such as tank ammunition and jet engine components.
It shouldn’t be surprising that tungsten is deemed a critical mineral by Canada, the US, EU, and many other nations. Even so, the global supply of tungsten remains highly concentrated, with China dominating production.
China produces over 80% of global tungsten, and there are currently no tungsten mines operating in North America.
This has led to a strong pull from western governments and manufacturers to secure non-Chinese tungsten supply and to redomicile some of that tungsten production into North America.
Enter: FOXT.
Folks, this explorer is sitting on a treasure chest. The Fox Tungsten Project overlies a large, multi‑zone tungsten mineral system approximately 12 km by 5 km in extent, with numerous surface showings and drill intersections identified across several mineralized zones.
According to their 2018 NI 43‑101 resource estimate, the Fox Tungsten Project hosts approximately one million tonnes of mineralization averaging around 1% WO₃, placing it among the highest-grade tungsten deposits globally.
For comparison, the historic Cantung Mine – one of Canada’s highest-grade tungsten deposits – averaged roughly 0.81% WO₃ (North American Tungsten Ltd., 2014). So, while Fox remains undeveloped, it has significant exploration potential across its multi-zone system.
In late 2025, eighteen diamond core drill holes were completed at the Fox Project. The program extended mineralization at the RC & BN zones, including an intercept of 1.18m @ 6.83% WO3 from 31.2 m downhole at the RC zone.
And though FOXT’s program last year was relatively modest (due to their late start), FOXT successfully extended mineralization at their RC and BN zones, hit some excellent grades, and demonstrated that their deposits were open along strike and at depth.
This summer, FOXT plans to mount an expanded exploration program aimed at growing the resource and advancing the project toward a Preliminary Economic Assessment (PEA).
FOXT is in a strong position. They recently reported having roughly $2 million in cash and approximately $2 million in marketable securities, the latter being the shares the Company received from the sale of their Highland Valley property to Metal Energy Corp in October 2024.
With FOXT preparing to make serious headway at their promising tungsten asset, be sure to take a serious look at the Company before it’s too late!
Market Commentary Disclaimer
