The man-made lake was formed after the site was used as a quarry for taconite mining between the mid-1960s through April 1983.

The mine closed in 1983 as a result of a crash of the domestic steel markets in the United States.

When the mine was in operation, pumps removed about 800 US gallons (3,000 L; 670 imp gal) of water per minute from the quarry.

The lake is a prime scuba diving destination because of its deep, clear water.

Fish species within the lake include rainbow, brook, and brown trout, bluegills, suckers, catfish, walleye, warmouth, and smallmouth bass.