Detective Sergeant Derek Shaw said the death of Ross Andrew Gerken (63) of Manapouri had been referred to the coroner, and Worksafe advised.
Det Sgt Shaw said Mr Gerken was working as a ferret trapper in the area.
He set off on Saturday morning and had been due out of the Falls Dam area at about 3pm, but after failing to return, was reported overdue on Saturday night.
Det Sgt Shaw said family, local farmers and police started a land and air search for Mr Gerken early on Sunday and his body was found by a ground-based team about 6.10am.