In the Tysnes Island gas‐rich, H4 chondrite an inclusion was found which consists of two distinct portions: a tear‐drop shaped Fe‐FeS eutectic‐like intergrowth (0.5 cm greatest dimension) and a silicate consisting primarily of olivine in glass. The boundary between the two portions of the inclusion is smooth. Nickel is enriched in the metal at the metal‐sulfide boundaries and in nodules within the metal. The subhedral to skeletal olivine in the silicate portion is forsteritic, Fo75–90.The glass is very rich in SiO2,up to 70%. The glass is not homogeneous, but a fairly typical analysis is SiO2,66.9%; TiO2,0.4; Al2O3,0.4; Cr2O30.3; Na2O, 3.3; K2O, 0.9; CaO, 6.0; Fe, 10.9; Mg, 2.0. The Fe‐FeS and silicate portions appear to have separated from one another as immiscible liquids. The modal composition of each portion agrees well with compositions predicted for a total melt of an H‐group chondrite. This inclusion seems to be a “snapshot” of the process of metal‐silicate fractionation which Fodor and Keil (1976) have previously suggested must exist to explain the presence of metal‐ and sulfide‐free inclusions