Shungite shales of the middle subsuite of Saonega suite of Ludicovian (the Onega basin) is studied in connection with the problem of noble-metal occurrence. Five main morphological types of sulphide mineralization are described in shungite shales: interspersed, massive, cement, concretionary and vein. The detailed description of each type of mineralization is given, the sequence of formation and regeneration of sulfides is considered. On the basis of mineralogical and analytical data the evidence of noble metal stratiform mineralization of shungite shales in Onega basin is not defined.