Welcome to the forum Gemhunter.
You're about 10 minutes down the road from where I live.
The stones on the Rubyvale field are broadly scattered around the area in old alluvial deposits, not just in the beds of the few creeks that are on the field. They can be nearly anywhere but the "wash" - the ancient river bed clay and gravel material in which heavies such as sapphires and zircons originally settled - is often too deep for fossickers. There are patches of shallow/surface wash here and there such as at the Washpool and Glenalva where you can try your luck. Layers of potentially sapphire-bearing wash have a bit of a distinct look (though they vary from spot to spot). You're looking for a band of material with an abundance of smooth, stream-worn looking pebbles such as waterworn quartz pebbles. In particular, a high concentration of brown and yellow iron stone pebbles since it is heavy and heavies tend to settle together. Distinctive looking quartzite boulders referred to locally as "billy boulders" are also considered a good sign.