The first authentic gold discovery, by Captain Thomas Terrell, during an oppressively hot April day in 1846 gave rise to the first gold mine in Australia. It was not in New South Wales or Victoria but at present day Castambul, in the Adelaide Hills. On 22 December 1845, Frederick Wicksteed paid £799 into the Colonial Treasury, on behalf of the Victoria Mining Company. It was for section 5597 containing 147 acres, at Montacute, where Andrew Henderson had discovered copper, and was named by John Baker after his native Montacute in Somerset, England. The purpose of the company was to lease, take, work, buy and sell mineral lands. Wicksteed had bought the land at public auction to secure it for copper mining purposes.