The boat zigzagged across the water as crews used sonar to search beneath the surface.
“The sonar reports showed an object of interest and the dive squad was deployed to investigate it about 1pm,” police said.
“Unfortunately, there is no indication so far that the object is an aircraft.”
Senior Sergeant Mark Kirkwood, who is leading the operation, said crews would take a closer look at the object tomorrow.
“After 47 years, we understand the significance of this moment for the families of the seven people who disappeared, some of whom are here today, and for everyone who has worked to find answers about what happened to them,” he said.
A blessing was held at the edge of Lake Moeraki before the search for the missing aircraft continued for a second day. Photo / NZ Police
Crews plan to examine the object more closely, analyse the sonar imaging and search other areas of the lake.
History of missing aircraft
A Givealittle page from 2015 said the aircraft was on a chartered scenic flight from Dunedin through Queenstown, Milford Sound, Preservation Inlet and returning to Dunedin.
Radio contact with the aircraft was lost as it passed through Milford Sound in low cloud and severe weather.
Neither the plane nor any wreckage was found despite extensive ground searches at the time.
According to the New Zealand website Find Lost Aircraft, there were at least two possible sightings that indicated the flight was off track.
Police divers investigated an object detected by sonar in Lake Moeraki on Tuesday but said there was so far “no indication” it was the aircraft. Photo / NZ Police
Bluff resident Milford Whaitery saw a similar-looking plane while crayfishing. He said it flew into the Transit River Valley in “poor visibility conditions”.
Whaitery thought the pilot had mistaken the valley entrance for Milford Sound.
Another person claimed they saw a plane matching the Cherokee Six’s description flying out to sea over the Moeraki River mouth.
They observed it turn around “about [a] quarter mile out then head back up the river again”.
That witness thought the pilot may have been looking for the Haast Aerodrome but mistook the Moeraki River for the Haast River.
The missing people were Edward James Sinclair Morrison, 28, Earl Bloomfield Stuart, 40, Elizabeth McGregor Stuart, 37, David John Stuart, 18, Alec Davidson Stuart, 38, Rosie Stuart, 37, and David Hogg, 20.