I also suspected the ;eak was in the upper portion of the banks. However, the mystery is that for the last 4 years or so, after the pond dropped 2 feet, it maintained that level. After the dredging took another 2 feet, the pond has been consistant at that new level. It seems that if the leak had been in the banks for the last 4 years, the level would have risen back up to the 2 foot mark.
I think I am going to pursue the pumping process. Since I already have a spare well available and most of the piping is in place, all I need is a pump and hookup materials.
So my question at this point is: how do I go about sizing the pump (it's a 4" well)?