Global Cobalt Terminates Iron Creek Project Lease

Global Cobalt Corporation (TSXV:GCO) announced today the termination of the lease made with the Chester Mining Company for the Iron Creek Project, allowing Global Energy the right to enter an agreement for the project.
As quoted in the press release:

GLOBAL COBALT CORP. (TSXV:GCO, OTCBB:GLBCF, FRA:3P0) (“Global Cobalt,” and/or the “Company”) announces that the lease agreement made with Chester Mining Company (“Chester Mining”) for the Iron Creek Project (“Iron Creek”) as announced October 6th, 2014 has been terminated clearing the path for Global Energy Metals Corporation (“Global Energy”). Upon the successful completion of the Spin-Out Transaction, Global Energy will now have the right to enter into a new agreement with Chester Mining to acquire Iron Creek, a prospective cobalt property in the Idaho Cobalt Belt Trend located in close proximity to Salmon Idaho.

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