US treasure hunters have recovered half a million silver coins and hundreds of gold coins and worked gold from a colonial-era shipwreck in the Atlantic.
Odyssey Marine Exploration said the find was the largest of its kind and is worth hundreds of millions of dollars.
Odyssey co-founder Greg Stemm (L) examines coins recovered from the Black Swan
The artefacts have been shipped to the US for examination
"The gold coins are almost all dazzling mint state specimens," Odyssey co-founder Greg Stemm said.
The team has kept secret the location of the wreck, codenamed Black Swan, citing security and legal reasons.
The artefacts, including more than 17 tonnes of silver coins, have been shipped to the US and are being examined by experts at an undisclosed location.
Historical significance
The mammoth haul was salvaged using a tethered underwater robot. Odyssey's Remotely Operated Vehicle The haul was salvaged using a tethered underwater robot
The Odyssey team said the site was of huge historical importance because of the insight it would offer into seafaring and the social life of the period when the ship sank.
"Our research suggests that there were a number of colonial period shipwrecks that were lost in the area where this site is located, so we are being very cautious about speculating as to the possible identity of the shipwreck," said John Morris, Odyssey's co-founder.
"We have treated this site with kid gloves and the archaeological work done by our team out there is unsurpassed.
"We are thoroughly documenting and recording the site, which we believe will have immense historical significance," he said.
The company said it expected the shipwreck would eventually become one of the "most publicised in history".
RE: the San Vicente Mine, Potosi Department, Bolivia - is expanding the mill and mining operations -
In 2007, Pan American expects to continue a small-scale operation while the Company completes the detailed engineering required for the construction of a 600 tonne per day plant located on the San Vicente property.
Silver Cash cost per ounce $3.49 is going to be very profitable operation -
History:
San Vicente was operated by COMIBOL, the Bolivian state mining company, from 1972 until 1993 when mining was suspended, pending privatization.
Pan American optioned the San Vicente project from COMIBOL in 1999 and became operator, advancing the project through drilling, underground sampling and metallurgical test work.
Mine infrastructure at the site includes a flotation mill, tailings facility, power and water supplies, and worker housing. In late 2001 Pan American and COMIBOL entered into a two-year toll milling agreement with EMUSA, a well-established Bolivian mining company, to process up to 250 tonnes per day of San Vicente's ore at EMUSA's nearby mill.
This arrangement generated sufficient revenue to offset the property's holding costs and generated valuable information on the mining and milling characteristics of San Vicente's ore.
In early 2006, Pan American signed a joint-venture agreement with EMUSA granting a 40 percent interest in the project.
In mid-2006, Pan American entered into another toll milling arrangement with EMUSA to continue processing at its Chilcobija mill.
In 2007, Pan American expects to continue a small-scale operation while the Company completes the detailed engineering required for the construction of a 600 tonne per day plant located on the San Vicente property.
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