SOURCE: Global Gold Corp

November 16, 2010 16:03 ET

Global Gold Corp. Announces the Acquisition of 10 Strategic Claims Located Nearby "Globe Star-Soquem" Moblan Lithium Deposit

MONTREAL--(Marketwire - November 16, 2010) - GLOBAL GOLD CORP., (PINKSHEETS: GGOC) announced today the acquisition of 10 strategic mining Claims located nearby "GLOBE STAR-SOQUEM" Moblan Lithium Deposit.

Mr. Chandra Panchal CEO reports:

"The strategic mining properties were acquired from 'IMINESCO INC' ( in return consideration of 1 million restricted shares of Global Gold Corp., plus a 2% net smelter return, and the engagement of proceeding to a minimum of $100,000 in exploration work within a 1 year period of signing the agreement.

"The IMINESCO properties are located 112 kilometers north of Chibougamau and are accessible from Chibougamau via Route du Nord, an all-weather gravel road, to Kilometers 112.5 where a 2-kilometer winter trail runs south to the centre of the Moblan West property.

"We have received key information on the properties that are very promising and we are currently evaluating the potential exploration work plan with our geologists. This is the first of a strategic list of acquisitions that we have been negotiating for and we anticipate more property acquisitions in a near future."

For more information on the property, please visit

Moblan project covers a group of pegmatite sills and dykes in Archeanage greenstone north of Chibougamau, Quebec, Canada that are characterized by high lithium (Li) values in the mineral, spodumene, a lithium aluminum silicate. The project is divided into two areas, West and East. The Moblan West property hosts the Main Sill pegmatite body.

The Moblan West property comprises 14 contiguous staked claims covering 235 hectares in which GLOBESTAR earned an interest of 60% from SOQUEM in November 2008, having exceeding the required initial earn-in of US$150,000. A Technical Report prepared for GlobeStar on the Moblan West property was completed in December 2008. It provided Indicated mineral resources for the Main Sill in the Moblan West property of 5.34 million tons at an average grade of 1.51% Li2O and a cut-off grade of 0.43% Li2O.

In the higher grade eastern half of the Moblan West property, Indicated mineral resources were estimated at 2.09 million tonnes at an average grade of 1.85% Li2O, and at the same cut-off grade.

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About Global Gold Corp.
Global Gold Corp is a Toronto based Canadian precious and base metals exploration and Development Company with mining interests in Quebec, Canada.

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