Ron Bajorek, Welcome aboard!
I have a gravel pit type pond and have been through the process from start to finish. You absolutely need to know three things before you start making any plans.
1. How deep is the topsoil and clay layer that is above the gravel/sand.
2. What is the depth of the water table. You should have a test well bored on your property in the area where the work will be done. You don't want to end up with a 40 foot deep hole with no water in it.
3. What is the surface area of the property that you have available for excavation.
With this information you can calculate a lot of what you will need to know going forward. The most important one being what will the surface area of the pond be. Minnesota requires a 6 to 1 back slope on the reclaimed land around the pond. That takes up a lot of space. For instance my pond is on 12 acres and the pond is 5 acres.
The deal I struck with the gravel company here basically swapped gravel above and below the water table for water below the water table. This results in a project cost to you as the land owner at zero dollars. But that is getting a head of the program.
If you get the first three items locked down, you know what you have to work with.
I am happy to assist in any way. Keep us informed!
