A nickel/aluminum (NiAl) reactive powder system has been investigated to determine its mechanical properties under quasi-static and high rate compression to understand its deformation behavior. A shock recovery system has been used to define shock reaction thresholds under a triaxial loading system. Two nickel/aluminum (NiAl) shaped charge liners have been fired into loose kiln dried sand to determine whether the jet material reacts during the formation process. A simple press tool was developed to press the liners from a powder mixture of nickel and aluminum powder and a simple conical design was used for the liner. The shaped charge jet particles were recovered successfully in the sand and subjected to a detailed microstructural analysis. This included X-ray diffraction (XRD) and optical and electron microscopy on selected particles. The analysis demonstrated that intermetallic NiAl was detected and all the aluminum was consumed in the particles examined. In addition, different phases of NiAl were detected as well as silicon oxide in the target material. There was also some evidence that the aluminum had melted along with evidence of a dendritic microstructure. This is the clearest evidence that the shaped charge jet material has reacted during the formation process. Simulations have been performed using the GRIM Eulerian hydrocode to compare with flash X-rays of the jet.