Mountain States Resources Corp. has received approval for a $200,000 grant for development of its zircon, titanium and rare earth minerals project.
The grant is in addition to the two $50,000 grants approved in September, which brings the total to $300,000. Of the total, $250,000 was awarded by the state and $50,000, plus a like amount in services, was awarded by the counties in which the mineral properties are located.The grants were awarded on the basis of the potential economic and development values the project could bring to the state and counties involved.
The funds are allocated for the preproducton Phase III environmental, geologic and technical studies, which Mountain States said will begin immediately.
Mountain States said it is continuing negotiations with several major companies for development and long-term purchase contracts of the project.