I lived there for a fair while, unless something had changed drastically there is nothing, not known for its hills and such, pretty flat.
There is an area behind the water tower that was known as thieles flats that we used to go bonnet surfing and doing donuts and such that if I remember correctly was fairly large in distance. Totally flat but sort of xcish, probs wouldnt bring anything long travel.
Unless the council's have gotten rich there are many sandy, corrugated dirt roads in the mallee area, towards taplan, nadda, meribah, if you do this bring water unless you like drinking out of troughs.
Some may say it has nothing to offer but mallee scenery is beautiful in my opinion. As a youngster I rode these roads sometimes on a racer, my opinion leave the roadie at home.
If you ride on the road around Loxton make sure you are tubeless with plenty of sealant in them, there is a massive amount of 3 corner jacks.
Used to be a few wankers in the town as well, but then I moved.
Good luck