Bulk amorphous Zr54.5Ti7.5Al10Cu20Ni8 was investigated by means of small-an
gle neutron scattering and high-resolution electron microscopy. Partially c
rystallized states were generated by annealing. The scattering data were an
alyzed in terms of a model taking into account both properties of the parti
cles and interparticle interference. The mean radius of the particles is 1.
3 nm. They are surrounded by a depletion zone with mean thickness of 2.6 nm
. The volume fraction of the particles is estimated from the interparticle
interference effect; its upper limit after annealing at 653 K for 4 h is 12
%. Electron microscopy confirms the size determined from the scattering dat
a and shows that the particles are crystalline.