THE parents of dead Gold Coast lifesaver Jerry Dennis have joined his surf club mates in an emotional beach tribute to their lost son.

Jerry, 17, drowned in a mystery training mishap in a Mermaid Waters canal late Thursday.

The champion young ironman reportedly suffered chest pains before tumbling from his paddle board into the murky depths.

He was found about 45 minutes later after a desperate search but attempts to revive him failed.

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Jerry's parents this morning joined his Northcliffe Surf Club mates for a 7am memorial service on his beloved beach.

Tearful lifesavers stood and watched as the Dennis family threw flowers into the ocean.

The group then formed a large circle and stood hugging for about 10 minutes on the sand.

Police are investigating Jerry's death and are expected to prepare a report for the coroner.

Surf Life Saving Queensland president Ralph Devlin said it was unlikely Jerry, an accomplished swimmer, would have just fallen off his board and drowned.

Mr Devlin speculated the teen may have had a medical condition but said it would be up to police and the coroner to determine the cause of death.

Earlier it was reported: It was another black day in which life savers lost another of their own.

Jerry Dennis, a 17-year-old ironman champion, plunged from his paddle board into a murky Gold Coast canal yesterday afternoon and never re-surfaced.

Surf life saving officials can not confirm reports that he had chest pains before he died.

Training for the Coolangatta Gold ironman race, he became the fourth teenage life saving competitor to drown in Gold Coast waters since 1996.

His distraught mother was comforted at the scene by champion ironwoman Courtney Hancock.

Fellow Gold Coast surf club Northcliffe clubbies were in tears as the tragedy unfolded.

media_camera The parents and clubmates of drowned Gold Coast lifesaver Jerry Dennis gathered on the beach this morning outside his club for an emotional tribute. PIC: Mike Batterham

Panic rippled through the ranks when Jerry was noticed missing on the Mermaid Waters canal about 4.15pm.

There was talk of a possible shark attack, but lifesavers said he had suffered chest pains.

``He was paddling and he just disappeared,'' said senior lifesaver Martin Ashfield, who helped pull the teen's body from the water.

Clubbies formed a line on their boards in a desperate search for Jerry, as residents grabbed snorkels and goggles.

The police helicopter hovered overhead and water police also joined the search.

``Everyone just lined up and started paddling and searching,'' Mr Ashfield said. ``They all started diving down trying to find him.''

media_camera Clubbies, mum see tragedy unfold

Canalfront residents joined the increasingly frantic search.

``We saw them training and then realised something had gone wrong,'' resident Linda Buck said.

``The police came and told us a young guy had gone off his board. One of the neighbours noticed that he'd gone off his board, come back up and then gone back down again.''

Wearing a pink fluorescent safety vest made compulsory following the deaths of teenage competitors Robert Gatenby, Saxon Bird and Matthew Barclay at the Australian championships on the Gold Coast Jerry was finally spotted about 5pm at the bottom of the 4m deep canal.

READ MORE: Three families mourn their sons lost to Gold Coast waters

``He had a slight pulse but he was under for at least 30 minutes so he didn't have much hope,'' Mr Ashfield said.

He said Jerry was `super fit' and must have had some sort of medical condition. ``Guys like him just don't fall off their boards and drown, especially in flat water,'' he said.

The tragedy happened just days before the state surf life saving pool rescue championships, where Jerry was expected to challenge for medal honours.

Surf Life Saving Queensland president Ralph Devlin said details of how Jerry died were still unclear.

He told ABC radio this morning that Jerry was an outstanding swimmer.

``To fall off a craft in flat water in a canal, under controlled circumstances, is a very strange event,'' he said.

``One has to suspect there's some medical background but only the police investigation will tell us for sure.''

He described Jerry as a future star of the sport.

Surf Life Saving Australia has come under fire for its safety precautions, including it's failure to introduce buoyancy vests which were recommended after a coronial inquiry into Bird's death.