At MarketSmart, we believe ‘momentum’ is the principal word when it comes to FOXT. Particularly, momentum with molybdenum, a critical metal with prices that have risen significantly in 2026, and which is approaching multi-year highs.
Even as we speak, FOXT is making strides at its drill-ready project, Silverboss, which surrounds Glencore’s closed Boss Mountain molybdenum mine site. (https://foxtungsten.com/investors/presentations/)
For context, Boss Mountain produced roughly 15,000 tonnes of molybdenum from 1963 to 1983. And adjacent to the high-grade Boss Mountain mine deposits is Silverboss’ 10 Mile Creek molybdenum target: a 3 km long molybdenum soil anomaly.
We think this anomaly could be a potential treasure trove for FOXT, given the moves the molybdenum market has been making recently.
Molybdenum and tungsten share some remarkable similarities. They both have very high melting points, they are both heavily used in manufacturing industries, and both tungsten and molybdenum are facing a massive supply deficit.
A lack of major sources of molybdenum supply is why global molybdenum demand climbed 8.5% to 358.2 million lb in the first half of 2026, while supply slipped 0.6% to 335.6 million lb., leaving a 22.6-million-lb. shortfall – according to data from the International Molybdenum Association.
And according to BMO Capital Markets, it won’t end there: molybdenum is expected to face record a sixth consecutive annual supply deficit in 2027 due to a limited pipeline of new production.
The good news? FOXT is primed to take advantage of this growth in molybdenum demand, as the Company now officially has its fourth drill rig turning at Silverboss.
But that same momentum continues and extends past Silverboss. Just look to the Company’s 100% owned Fox Tungsten Project: situated in central British Columbia, this project hosts one of the highest-grade tungsten resources in the world, with multiple high-grade zones near-surface!
One of those zones is the southern extension of the established Ridley Creek mineralized zone… and it’s here where FOXT has reported initial results from its resource expansion drilling!
If you’ll recall: RC South was where last year’s drilling was conducted. At the time, it was an area where almost no previous drilling had been conducted. FOXT’s 2025 program changed that. Drilling successfully defined RC South’s continuity and expanded the calc silicate horizon (the host rock for tungsten) to the southwest.
And now, almost exactly a year later, the Company’s 2026 campaign has yielded results which confirm multiple zones of tungsten mineralization, including several high-grade intervals.
One highlighted hole is F26-012, which reported 7.9 metres grading 0.48% WO₃ from 84.0 meters, including 0.4 metres grading 9.63% WO₃. Additionally, multiple zones of mineralization were uncovered in hole F26-020, including 0.6 metres grading 2.35% WO₃ from 226.5 metres.
From these RC South results, the Company can confirm that the visible scheelite observed during drilling was associated with significant tungsten mineralization – providing further support for FOXT’s resource expansion strategy. Additionally, the results demonstrate the presence of broader mineralized intervals containing higher-grade tungsten zones at RC South that support strong geological connection between the BN and RC zones.
As we said, FOXT’s campaign has considerable momentum behind it. All in all, the Company has already completed approximately 70 holes, with over 50 completed holes still having assays pending!
With drilling to continue into November, and with additional assay results being released as they’re received – make sure to watch FOXT closely as the Company’s momentum pushes them to even greater heights!
Fox Tungsten is public traded on the following stock exchanges:
TSX Venture Exchange (TSXV): FOXT
OTC Markets (OTC): FOXTF
Frankfurt Stock Exchange (FSE): 1HC0
Sponsored by MarketSmart Communications Inc. on Behalf of Fox Tungsten Ltd.
Authored by Lemuel Daher.
Works Cited
Tomesco, Frederic. “Moly Heads for 6th Straight Deficit, Record Prices: BMO.” The Northern Miner, https://www.northernminer.com/news/moly-heads-for-6th-straight-deficit-record-prices-bmo/1003895563/
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