Fox Tungsten Ltd (TSX-V:FOXT, OTC:HPYCF, FRA:1HC) announced that it has commenced a fully funded 20,000-metre diamond drilling program at its Fox project in south-central British Columbia, marking the largest exploration campaign in the company's history.
The company said the first of two drill rigs has been mobilized and drilling is underway at the project, located about 75 kilometres northeast of 100 Mile House. A second drill rig is expected to arrive in early July.
The 2026 program is designed around three main objectives. About 60% of planned drilling will focus on expanding the existing Fox mineral resource to support an updated resource estimate and a preliminary economic assessment targeted for the first half of 2027. Work will include testing mineralization continuity between the BN, RC and BK zones and evaluating down-dip extensions of the BN and RC zones.
Roughly 30% of drilling will target exploration opportunities elsewhere on the Fox property, including deeper extensions of known resource zones and potential new areas at Fox North and the August Showing.
The remaining 10% of drilling is planned for the nearby Silverboss property, where Fox Tungsten will assess copper and molybdenum targets. The planned work includes testing for molybdenum mineralization near Glencore's decommissioned Boss Mountain mine at the 10 Mile Creek target and drilling the Gus Zone copper soil anomaly.
The company expects drilling activities to continue through October 2026, with assay results to be released periodically as they become available.
In addition to drilling, Fox Tungsten plans to conduct prospecting, geological mapping, geochemical sampling and metallurgical testing during the field season.
To support the exploration program, the company recently completed construction of an expanded exploration camp intended to accommodate a larger workforce and increased operational activity.
Fox Tungsten said its exploration efforts are being managed by Coast Mountain Geological, while Paycore Drilling has returned as drilling contractor after completing the 2025 Fox drill program.
"We are excited to begin our largest exploration program to date at Fox," said Steve Gray, CEO of Fox Tungsten.
"With two drill rigs operating throughout the summer, a new camp in place, and a clear focus on resource growth and new discoveries, this program represents a major step toward unlocking the full potential of the Fox district. The results of this work will form the foundation of an updated resource estimate and our planned PEA in 2027."
Shares of Fox Tungsten added 14.3% at the open in Toronto at C$0.16.