The Yarra Yarra Gold Sluicing Company site has high local significance as an important gold mining site associated with Old Warburton's years as a major Upper Yarra gold township. The site of the water wheel, along Yankee Jim's Creek, which was used to drive the company's battery, also has significance. These sites are two of a number of significant heritage sites associated with the heyday of Old Warburton township. They have historical significance for their associations with Gideon Scott Lang, holder of the mining lease in 1873, who was a Victorian pastoralist both in Victoria and New South Wales, author of important early studies of squatting and the aborigines in Australia, and "an adventurous and enterprising pioneer", who was involved in the mining venture at Old Warburton during the last years of an eventful life. The company was suspended in 1884, three years after its founder's death. The site has both historical and archaeological importance.

The Yarra Yarra Hydraulic Gold Sluicing Company covers an extensive area that has now regenerated as bush. The company's works involved extensive sluicing operations, creating a large, steep-sided "canyon" up to 10-12 metres deep. There are also some shafts and adits in this area, demonstrating a different form of gold-mining, and a water race.

Throughout the area there is evocative evidence of the operations, and of those who once lived and worked nearby. Some areas appear to have been used as camp sites associated with the works.

The whole site is quite fragile and needs to be protected from increased visitation. It is also likely to be at risk of looting.

Physical Conditions: Fair

Integrity: Intact