lbis new concept in geology is introduced by a reinteipretation of the Archaean stratigraphy of the greenstone belts of the Yilgarn Craton of Western Australia. Evidence is presented to show that the recorded Archaean succession of the Eastern Goldfields Province is composed of two distinct groups of mafic/ultrarnafic and felsic igneous rocks which, together with sediments, form alternating sequences represented by Cycles 1 to 4; Cycle 5 consists entirely of sediments. Recorded stratigraphy for the Murchison and corre1atives of the Southern Cross Subprovinces conform to this pattern. The five basic components are referred to as Unit 1 to Unit 5. A major erosional unconformity between Units 3 and 4 extending across the Craton is identified as a locus of potential major gold occurrence, including fossil placers, where suitable structural situations exist; Units 1 and 3 are identified as potential hosts of gold and nickel deposits; Units 2 and 4 for gold and base metals.