The stable Al-Cu-Fe icosahedral phase showed almost no local magnetic moment at low temperatures, and a dependence of the magnetic susceptibility linear to the square of the temperature above about 150 K. The former is interpreted by the condition of the local magnetic moment formation according to the theory of Friedel and Anderson, and the latter affords strong experimental evidence for the band gap corresponding to the Brillouin zone inferred for strong diffraction spots. An experimental value of the mass density is obtained, in order to estimate the electron number density.
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