Bell Copper Corporation applied for an additional mineral concession, Balsa 15, after discovering an outcropping of iron ore beyond the western limits of their Balsa 14 project in Mexico. Bell Copper’s wholly owned Mexican subsidiary, Minera Montoro, is currently mining high grade lump iron ore on the Balsa 14 concession from satellite ore bodies. Two grab samples taken by Bell Copper at the current mining site returned iron values of 66.8% and 65.4%. Peripheral to the Balsa 14 mineral concession is a 3km by 4km magnetic anomaly identified by a government aeromagnetic survey. The anomaly lies midway between the newly discovered iron ore and the company’s mining operations, hence the request for an additional mineral concession.