"Unfortunately, due to the amount of time that has passed, we are now searching for a body," Menzies said.
"While no formal searches were conducted today, we expect to undertake further aerial and water-based searches of the lake tomorrow.
"There have been a number of drowning-related deaths over the holiday period, and police would like to remind everyone to be conscious of their safety and wear lifejackets when conducting any activities on the water."