An olivine-titanomagnetite-apatite-clinopyroxene-mica-nepheline-feldspar assemblage occurs in late-stage vesicles in a small outcrop of olivine leucitite at Cosgrove, Victoria. The vesicles were formed by exsolution of volatiles at an early stage in the cooling history of the lava. Subsequently, a volatile-rich residual liquid filled cavities and fractures, giving rise to a coarse-grained pegmatoid rock type similar in over-all mineralogy to the vesicles. The volatiles facilitating crystallization in both the vesicles and the pegmatoid were probably enriched in F, CO₂, and P. A number of geothermometers applied to the vesicle assemblage failed to agree on likely crystallization temperatures.