How big is the pond?
To be watertight, I've always read that you need it to be two feet thick. Any thinner, and the water will go through it. When I hit sand while digging my pond, I dug out the sand extra deep and then filled and compacted it with 2 -3 feet of clay.
One yard of dirt will cover 12 square feet. A one acre pond will need over 3,600 yards of dirt to create a water tight seal. You really don't want to do this.
Betonite is an expanding material that helps stop or slow down a leak. It really needs to go where the leak is. It's not a pond sealer, and it requires clay for it to work. The clay has to seal the majority of the water, the betonite will only help the clay. Not replace it. Betonite is also expensive. Allot more money then clay.
If the pond is too big and/or clay is too expensive to bring in, rubber liners are your next choice. Again, lots of money.
Some ponds are better off being filled in and turned to pasture. It's a hard decision to make, but sometimes, it's the only realistic option.
Good luck,
Eddie