Pyritic shale horizons of the Newland Formation (Belt Series, Mid-Proterozoic) show striking similarities to Proterozoic pyritic shales elsewhere that are host to major lead-zinc deposits, such as Mt. Isa and McArthur River. However, in contrast to these deposits the pyritic shales of the Newland Formation contain only minute quantities of lead and zinc. Elevated concentrations of lead and zinc are only found in pore spaces of intercalated sandstone beds. Petrographic and geochemical data indicate that pyritic shale deposition and elevated lead-zinc concentrations in sandstone beds are unrelated, that base metal mineralization is controlled by initial porosity, and that iron and base metals were derived from different sources.Petrographic studies show that base metal sulphides are diagenetic and resemble disseminated mineralization described from sandstone hosted lead-zinc and copper deposits in the Belt basin and elsewhere.