Detailed geologic mapping, petrography, and major and trace-element analyses of Proterozoic rocks from the Greenwood Lake Quadrangle, New York are compared with chemical analyses and stratigraphic information compiled for the entire Reading Prong. A persistent regional stratigraphy is evident in the mapped area whose geochemistry indicates protoliths consistent with a back-arc marginal basin sequence. The proposed marginal basin may have been floored by an older sialic basement and overlain by a basin-fill sequence consisting of a basal tholeiitic basalt, basic to intermediate volcanic or volcaniclastic rocks and carbonate sediments, a bimodal calc-alkaline volcanic sequence, and finally volcaniclastic, marine, and continental sediments. The presence of high-chlorine biotite and scapolite may indicate circulation of brine fluids or the presence of evaporite layers in the sequence. Abundant, stratabound magnetite deposits with a geologic setting very unlike that of cratonic, Proterozoic banded-iron formations are found throughout the proposed basin sequence. Associated with many of the magnetite deposits is unusual uranium and rare-earth element mineralization. It is proposed here that these deposits formed in an exhalative, volcanogenic, depositional environment within an extensional back-arc marginal basin. Such a tectonic setting is consistent with interpretations of protoliths in other portions of the Reading Prong, the Central Metasedimentary Belt of the Canadian Grenville Province, and recent interpretation of the origin of the Franklin lead-zinc deposits, suggesting a more cohesive evolving arc/back-arc tectonic model for the entire Proterozoic margin of the north-eastern portion of the North American craton. Published by Elsevier Ltd.