The first 10 cm of sediment from Lake Chapala, Western Mexico are in constant activity related to the exchange and speciation of metal cations. Samples of this sediment were analyzed in electron paramagnetic resonance (EPR) equipment to study the paramagnetic metals. Assays indicated that only Fe3+ was present in a detectable amount. This cation, along with chemical fractions of sediment obtained by sequential extraction, was analyzed by EPR. The analysis supported by infrared data revealed that Fe3+ was present in diluted and concentrated domains. Easily exchangeable iron was retained by carbonyl groups in organic matter. The carbonate fraction and oxides contained iron in concentrated domains. The alumina-silicate fraction (that resisted the sequential extraction digestions) presented diluted domains of iron in the octahedral alumina sheet along with occlusions of concentrated domains. This last inference was obtained by comparing EPR results against the spectrum of iron in synthetic model clay.