This matrix you see here is the Gault Clay, known locally as the Blue Slipper. This fine muddy clay was deposited 105-110 million years ago during the Lower Cretaceous (Upper and Middle Albian) in a calm, fairly deep-water continental shelf that covered what is now southern England and northern France.
Lack of brackish or freshwater fossils indicates that the gault was laid down in open marine environments away from estuaries. The maximum depth of the Gault is estimated 40-60m a figure which has been reached by the presence of Borings made by specialist Algal-grazing gastropods and supported by a study made by Khan in 1950 using Foraminifera. Estimates of the surface water temperatures in the Gault are between 20-22°c and 17-19°c on the seafloor. These estimates have been reached by bulk analysis of sediments which probably register the sea surface temperature for calcareous nanofossils.
It is responsible for many of the major landslides around Ventnor and Blackgang the Gault is famous for its diverse fossils, mainly from mainland sites such as Folkestone in Kent.
Folkestone, Kent is the type locality for the Gault clay yielding an abundance of ammonites, the same cannot be said for the Isle of Wight Gault, however, the south-east coast of the island has proved to be fossiliferous in a variety of ammonites, in particular, the Genus Hoplites, Paranahoplites and Beudanticeras.
While the Gault is less fossiliferous here on the island it can still produce lovely marine fossils, mainly ammonites and fish remains from these muddy mid-Cretaceous seas. The Gault clay marine fossils include the ammonites (such as Hoplites, Hamites, Euhoplites, Anahoplites, and Dimorphoplites), belemnites (such as Neohibolites), bivalves (notably Birostrina and Pectinucula), gastropods (including the lovely Anchura), solitary corals, fish remains (including shark teeth), scattered crinoid remains, and crustaceans (look for the crab Notopocorystes).
Occasional fragments of fossil wood may also be found. The lovely ammonite you see here is from the Gault Clays of Folkstone. Not all who name her would split the genus Euhoplites. There’s a reasonable argument for viewing this beauty as a very thick form of E. loricatus with Proeuhoplites being a synonym of Euhoplites.
Jack Wonfor shared a wealth of information on the Gault and has many lovely examples of the ammonites found here in his collections. If you wish to know more about the Gault clay a publication by the Palaeontological Association called 'Fossils of the Gault clay' by Andrew S. Gale is available in Dinosaur Isle's gift shop.
There is a very good website maintained by Fred Clouter you can look at for reference. It also contains many handy links to some of the best fossil books on the Gault Clay and Folkstone Fossil Beds. Check it out here: http://www.gaultammonite.co.uk/