Fine cobalt and silver powders have been ball-milled to yield a granul
ar solid of composition Co30Ag70 in the form of coarse powder. The mat
erial is an intimate mixture of grains of fcc Co in a silver matrix. T
he cobalt is in the single-domain size range, and the samples exhibit
coercivity (0.07 T at 296 K) and unusual thermomagnetic effects, inclu
ding field-induced unidirectional anisotropy. There is a large, isotro
pic negative magnetoresistance, which exceeds 10 % at 4.2 K.