<P> The lake also forms part of the Trent - Severn Waterway system that links Lake Ontario and Georgian Bay / Lake Huron . </P> <P> Lake Simcoe is also well known for its scuba diving . The shipwreck "J.C. Morrison" sank in 1857 and is a great dive site off centennial beach . There are also a number of other popular scuba diving entrance points popular among fresh water divers . Kempenfelt Bay is the most popular for scuba divers as it is the deepest . Visibility ranges from over 30 feet to near none . </P> <P> When a lake is healthy, cold - water fish such as lake trout, herring, and whitefish are abundant and active . It is sometimes known as Canada's ice fishing capital . </P> <P> The lake is located on Paleozoic limestone of the Ordovician period . However, due to deep deposits of glacial sediments, this bedrock only appears exposed along the lakeshore on Georgina Island . This rock, however, also appears along the shore of Lake Couchiching, where sediments are thinner . The outlet of the lake at the north end of Lake Couchiching is controlled by Precambrian bedrock which first makes its appearance about mid-way along this lake . As a result, the lake has persisted to the present, with the outlet - flow unable to cut down through the rock, and thereby draining the lake . This is unlike its one - time smaller sister - lake of' Lake Minesing' to the west, being a remnant of Lake Algonquin, and, later the Nipissing stage of Lake Huron . This lake's outlet was founded on sediments located near Edenvale, which have largely been cut through, draining most of the lake . Today' Lake Minesing' exists as the Minesing Swamp, but it re-establishes itself for a short period each spring when spring run - off floods the basin . </P>

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