Rafting operations were suspended by the Queenstown Lakes District Council after the first slip occurred on July 9.
Queenstown Rafting managing director Vance Boyd said engineers would assess the slip area on Monday.
"From there, we've got to talk to the council about removing the closure [so we] can go back on the river.
"We're very hopeful that the council will be able to lift the closure of the river some time next week.
"The material has fallen into the chute below the active face and broken up . . .only one or two rocks have reached the edge of the river, making no change to the route or flow of the water".
QLDC regulatory and corporate services general manager Roger Taylor said the council would be in a position to reopen the river and allow public access back into the area as soon as it was confident the slip posed no further risk and the Moonlight Track had not been undermined by it.
Yesterday's rockfall, about 6.30am, was the culmination of determined efforts since August 14 by contractors McNeill Drilling and Pumping and members of the Queenstown Volunteer Fire Brigade to dislodge the huge amount of loose rock by pumping water through and over the slip at up to 200 litres per minute. It was further helped by heavy rain early yesterday.
Mr Boyd said cold temperatures earlier in the week froze the pipes pumping water from Shady Creek to the slip and it also froze the water inside the rock. The ice acted like glue.
Since then, the crew had been pouring water over the slip "day and night", Mr Boyd said.
Mr Boyd said the exact cost of dislodging the slip was still unknown, but estimated it might be about $30,000. Firefighters would continue to run water over the slip during the weekend to hose down any remaining small pieces of material.
