I have camped at Mt Franklin, 10 kms north of Daylesford. It's an extinct volcano! The crater is beautiful, sheltered and full of birch trees. The view from the rim over the goldfields district is breathtaking.
https://www.google.com.au/maps/place/Mt+Franklin/@-37.2625,144.1494444,12z/data=!4m2!3m1!1s0x6ad6d592ba140de9:0x1cded54d3f705360?hl=en over 5 years ago