As one of the most recent volcanic activity on mainland Australia, Mount Schank was formed by volcanic material from explosive eruptions about 5000 years ago. It erupted through the limestone formation, but unlike Mount Gambier, its crater floor is above the water table level and hence no lake forms in the crater.
A unique walking trail has been constructed at Mount Schank using limestone planks. The trail consists of over 1000 steps leading to the crater rim but don't let that put you off reaching the top. Although classified as a hard hike, its limestone step planking is relatively gentle and there are a couple of spots along the way for you to sit and rest if needed. After about a kilometre, you will be rewarded with spectacular views of the volcano and surrounding countryside. If time permits, you can also walk around the crater rim. Winds here can be strong though, so do be careful.