Gold blocks present in repository (7)
I believe the answer is:
storage
'repository' is the definition.
(storage is a kind of repository)
'gold blocks present' is the wordplay.
'gold' becomes 'or' ('or' is the heraldic name for gold).
'blocks' means one lot of letters goes inside another (the inside letters form a 'blockage').
'present' becomes 'stage' ('stage' can be a synonym of 'present'**).
'or' put within 'stage' is 'STORAGE'.
'in' acts as a link.
(Other definitions for storage that I've seen before include "Charge for warehousing" , "reservation?" , "Place for putting items away" , "Cost of keeping in a warehouse" , "Available space for keeping things" .)