Select by orthophoto color properties function, existance?

Discussion created by h4630 on Feb 24, 2011

I have a million acre area of interest and I'd like to identify all (approximately 200) fire dip ponds included in the area.  I've been given the task to make a map showing the location of each pond and I have coordinates for about half of them.  I was wondering if there was some way to select areas with the color properties associated with water to help me identify the remaining ponds.  I have no idea if this is possible but it would save me the trouble of hunting for ponds.