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Using perturbed γ-ray distribution techniques and in-beam Mössbauer spectroscopy, the magnetism, electronic structure, and lattice sites of Fe ions implanted into Y have been investigated. About 65% of the Fe atoms occupy interstitial sites, which come out to be non-magnetic. The remaining fractions is found on substitutional sites, and exhibits a nearly Curie-type susceptibility and Korringa-type spin dynamics. Local spin density calculations predict the magnetic moment, the hyperfine field and the isomer shift in agreement with the experimental results.