Alluvial gold was discovered in Bendigo Creek in 1851. Victoria Hill was used as a hideout for bushrangers until reef gold mining took leases along the hill in 1854. Small open cut & shallow shaft leases were amalgamated into large, deep operations. The last was overcome by water in 1910 while attempting to sink beyond 5,000’ (1,500 m). Approximately 500,000 oz of gold was won from Victoria Hill, valued at over $1,000,000,000 today.
The rocks at Victoria Hill are the same as those that make up the majority of central Victoria. These rocks were deposited at the bottom of the ocean (turbidites) approximately 475 million years ago during the Ordovician Period. Rocks of this age around the world from the Early Ordovician were known as Bendigonian until recently.