actually,it is the Aboriginal name the local Wathaurang people gave it meaning "resting place" ,possibly because of the abundance of local fauna making it a valuable resting place for their nomadic hunting life.
also the site of the Eureka Stockade,where the miners fought the troopers over mining licences-Australia`s only armed rebellion.
as for "early little dick Aussies"-they were mostly english rejects but due to all the gold dust in the air we soon bred out that anatomical deficiency,the only side effect being massive testicular development that is still evident today.
cheers