There is fantastic fishing on the Ponds, Loon Lake and nearby streams. You will catch small-mouth bass, northern pike, a few elusive large-mouth bass, a very rare rainbow trout (rare on the lake, there are plenty in the streams) and perch. Mud Pond flows into the North branch of the Saranac River where you can catch native brook and rainbow trout. Veronica and I have caught numerous bass upwards of 5 lbs.
This "Small"-mouth was caught in June 2017 in Loon Lake.
Canoe or Kayak down to the Saranac River for good trout fishing. You can also drive to a variety of other great fishing spots nearby.