Golden Lake, once a gold-mining town, is a rural locality 5 km south-west of Scarsdale and 27 km south-west of Ballarat. No longer shown on modern maps, Golden Lake Road off the Scarsdale-Lismore Road leads to the old mine workings after crossing the Woady Yaloak Creek. It was part of the mining area which extended south to Piggoreet and beyond.
It the late 1860s deep lead mining began to make good returns in several mines from Newtown (Galatea mine) to Piggoreet. The unselected, tree-covered piece of land was taken for the new town of Golden Lake in 1870, and immediately a post office and a school were opened. Within two years there were an estimated 2000 people and a school capable of holding 200 pupils.
Of the two companies mining at Golden Lake, the Zuider Zee was the more prominent. Golden Lake school closed in 1894 and the post office closed the following year.
W.M. Robertson, History of Piggoreet and Golden Lake, Daylesford, 1998