Thick rhyolite sheets occur within the middle Palaeozoic cauldron subsidence complexes in Victoria. Well‐preserved eutaxitic and vitroclastic textures in the basal regions of the Rubicon, Jemba, and Ryans Creek rhyolites provide evidence of an ash‐flow origin. Subsequent recrystallization during cooling has masked these primary textures towards the central and upper parts of the rhyolitic sheets. All three rhyolites show dense welding throughout and the major zonation observed is in the degree of granophyric recrystallization.