I started doing this a few years back especially nice for shack fishing, If you get tired of carrying bait to and from your shanty, if you have a large bore auger, you can cut a hole just short of the thickness of ice, , then punch a small hole through the last little bit of ice, the hole willl fill up with fresh lake water, with a very small hole that bait typically cant fit thru, use a screen if using very small minnows. you can reopen easily by just punching open the small hole, and refresh water by scooping water from 1 hole to another on occassion, it will push some of the old water out the bottom of the hole. I will also do this if i dont take live bait, and use small perch or blue gills for tipups, nothing extra to carry. The nice thing is, it will freezer over close to even so it isnt a trip hazard. Its like a mini aquarium.