The Phillips Gully Gold Mining Precinct is a good characteristic example of shallow sinkings for alluvial gold. The site consists of the relics of mines and campsites including the remnants of puddling machines and fireplaces. 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.
The Phillips Gully Gold Mining Precinct is of historical, archaeological and scientific importance to the State of Victoria.
The Phillips Gully 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. Phillips Gully, although not a particularly rich site, was a significant component of the historically important Whipstick diggings and is also important for its low level of physical disturbance since the nineteenth century.
The Phillips Gully 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.