The helicopter was believed to be located offshore from Breaksea Bay on the northern side of the lake, at a depth of about 125 metres.
It was not known how long it would take to locate the helicopter, or even if it would be located, Mr McKay said.
"There are so many variables in this operation. We are working in very deep water, and while we are reasonably confident we know the approximate location of the aircraft, there are no guarantees."
If the helicopter was located searchers planned to use the remote-operated vehicle's manipulator arm to attach a line and with airbags manoeuvre the helicopter into shallower water, where divers can retrieve it.