You definitely can fish it from the bank as I plan to do the same thing in the Spring to chase walleye/sauger. As far as specific spots, there is a thread in another forum with info on that area that I started. Here's some info:
"I usually fished up there from late February on through spring and early summer. Blue hole you park in the park and have to walk a mile down many steps to get to, but yes you will catch walleye right off the bank there. Lots of Walleye are also caught where the boat ramp is, there is a bottleneck to the right where it is hard to pass with most boats. You will see boats lined up there mostly vertical jigging and drifting back, over and over, not a good place to fish from the bank but it will give you an idea of how many walleye are there. The other best place to fish from the bank there is to go back out of the park and take a left, then a left again to go over the dam, then back around to the left till you get to the upper access area, forget what it is really called, find it on a map first. Water comes accross from great falls lake there and it is shallow, and swift. Good numbers of Walleye, spots, and smallmouth inhabit those waters and no boats make it up that far."