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In this study, Fe-57 Mossbauer spectroscopy has been used to identify various Fe-restricted components formed in a ball-milled Co0.40Fe0.10Zr0.10B0.40 alloy for different milling times of 0 h, 8 h, 24 h, 72 h, 120 h, and 190 h. It is shown that the initial ball-milling results in formation of amorphous Fe1-xCox alloys. Further ball-milling introduces B into the neighborhood of the Fe atoms, and amorphous components with 3 and 4 B atoms as nearest-neighbors and next-nearest-neighbors are observed. Although the investigation about alloying of Fe and Zr is more difficult, it is concluded that there is no evidence of any crystalline FeZr phase. Furthermore, annealing the 190 h milled sample shows that crystalline Fe1-xCox alloys with very low x-values (x < 0.02) are formed.