The Number One Lead Gold Mining Precinct is an excellent and unusual example of shallow sinkings for alluvial gold. The site consists of the relics of mines in open country fronting Number One Creek near Avoca. The precinct displays evidence which is typical of the prevailing early gold mining technology of the box-ironbark forests of central and western Victoria from the 1850s. It is unusual in today's context because the open nature of the site allows a clear view of all the workings evoking a more accurate image of what the diggings were like when they were active than is possible on sites where the forest has been regenerated.
The Number One Lead Gold Mining Precinct is of historical, archaeological and scientific importance to the State of Victoria.
The Number One Lead Gold Mining Precinct is historically and scientifically important as a particularly fine and essentially intact example of a site associated with the earliest forms of gold mining which, from 1851, played a pivotal role in the development of Victoria. Number One Lead, although not a particularly rich site, was a significant component of the historically important Pyrenees diggings and is also important for its low level of physical disturbance since the nineteenth century.
The Number One Lead Gold Mining Precinct is archaeologically important for its potential to yield artefacts which will be able to provide significant information about the cultural history of gold mining and the gold seekers themselves.