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Adelaide Lead is a district in Victoria, Australia, site of a former settlement, located on Old Avoca Road, south-west of Maryborough, west of the Paddy Ranges State Park, in the Shire of Central Goldfields. Located on the northern slopes of the Central Highlands, 225 metres above sea level, the area is naturally characterised by Box-Ironbark forest. Remnants of aboriginal settlement include rock wells beside the Possum Gully Road.
Adelaide Lead began as a mining settlement, and covered about 3 miles (4.8 km) along the banks of Timor Creek. A state school operated from 1863 to 1954. The building, which still stands, was later used as a community hall in which Saturday night 'old time' dances were held until the late 1970s.
The area was in the eastern part of the Glenmona Pastoral Station, taken up by Isaac Moorson and Edmund McNeill in 1839 and officially established as Glenmona by Edmund McNeill and Charles Hall in 1845. In 1848 Glenmona controlled 62,080 acres (251.2 km2), grazing 12,000 sheep and 150 cattle. It was the second largest property in the area, centred on the Bet Bet Creek which provided permanent water. The property was owned by the Mills family from 1875 until 1995. When the property was sold in 1995 it comprised 1182 acres (478 hectares).
Gold was officially first discovered at Adelaide Lead in December 1854. Adelaide Lead is close to Daisy Hill where a shepherd on Glenmona station had discovered gold in 1848 and sold it in Melbourne. This discovery gained media attention, but pastoralists tried to keep any finds quiet for fear of the impact on their runs.