Fox Tungsten’s Stephen Gray on the World’s Highest-Grade Tungsten Resource in British Columbia

Key Takeaways

• Fox Tungsten rebranded to focus solely on tungsten
• Fox project grades ~1% tungsten, world‑highest grade
• Company holds $4M cash, plans 20,000‑meter drill program
• Infrastructure nearby; 45‑minute drive to nearest town
• Potential to double resource and start PEA this year

Summary

Fox Tungsten Ltd., after selling its copper asset, rebranded at PDAC 2026 to focus exclusively on tungsten. The Fox project in British Columbia’s Cariboo region hosts a resource grading roughly 1 % tungsten, claimed as the world’s highest‑grade deposit. With about $4 million in cash, the company plans a 20,000‑meter drilling campaign this summer that could double the resource and support a preliminary economic assessment by year‑end. The site benefits from road and power access and sits within a 400‑km² land package that also contains molybdenum and gold prospects.

Pulse Analysis

Tungsten’s strategic value has surged as the United States and Canada prioritize critical minerals for defense, aerospace, and high‑temperature alloys. With 80 % of global supply still sourced from China, Western policymakers are actively seeking secure, domestic alternatives. Fox Tungsten’s high‑grade Cariboo resource directly addresses this geopolitical gap, offering a rare opportunity to develop a near‑term, non‑Chinese supply chain that aligns with national security objectives and growing industrial demand.

Beyond its geopolitical appeal, the Fox project stands out for its technical characteristics. A surface‑accessible resource averaging 1 % tungsten is exceptionally rare, translating to a concentration comparable to 14 % copper or 11 grams of gold per tonne. Coupled with existing road access, power lines within 20 km, and proximity to the community of 100 Mile House, the project minimizes the logistical hurdles that often delay mine development. The surrounding 400‑km² land package also hosts early‑stage molybdenum and gold targets, adding layered upside for future exploration.

Financially, Fox Tungsten is positioned to leverage its modest cash balance into a larger capital raise tied to an aggressive 20,000‑meter drilling program slated for summer. If the campaign successfully expands the resource, the company aims to complete a preliminary economic assessment by year‑end, a key milestone that could unlock further equity and debt financing. Such progress would not only validate the high‑grade claim but also place Fox among the few North‑American tungsten projects poised for near‑term production, potentially reshaping the market’s supply dynamics.