The 230-metre long dam, located on the southern side of Hawke Lane, was identified by council as a potential risk to housing in the event of flooding or the collapse of a wall.

Blayney-based CPB Excavations was awarded the tender for the $220,000 project, which is expected to begin in mid-November and conclude, weather permitting, by the end of February.

When full, the dam holds around 130 megalitres of water, and it is currently at about 77 per cent capacity.

According to Orange City Council Manager of Corporate and Community Relations Nick Redmond, the water will be slowly released into a nearby farm dam, which will in turn flow downhill into other dams and a creek line, which will flow into Blackmans Swamp Creek.

“Eventually the water will make its way into Orange’s stormwater harvesting system,” Mr Redmond said.

MAP: Where is the dam located …

Once the dam has been emptied, CPB Excavations crews will re-shape part of the side wall so that it can’t hold large amounts of water.

Then, according to Mr Redmond, “a spillway and stormwater pipes will be installed to ensure the dam basin remains empty”, while native species and grasses will be planted to prevent erosion.

Mr Redmond said the area will be available as a possible public space down the track.

“The dam site is outside the boundaries of the Shiralee housing area, but in future years it has the capacity to add to the area’s network of open spaces for recreation,” he said.

VIDEO: Come and try your luck …

Before it is drained, council is offering up the chance for anglers to help remove any fish from the dam.

Mayor Reg Kidd said Saturday’s ‘Hawke Lane Fish Out’ would allow any native species that reside in the dam’s waters to be safely transported to a new location while “humanely deal[ing] with any feral fish such as carp”.

What species of fish might be caught remained unknown.

“There might be yellow belly, Silver Perch, maybe even a catfish or a cod,” Cr Kidd said.

There will be a truck and aerated tank on site to house native fish, while The Fishing Factory will offer prizes for competitions including most and biggest fish caught.

The event will run 10am-4pm, with further details available on the day.