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New details emerge from "Holy Grail of Shipwrecks"

Image from an autonomous underwater vehicle, showing the wreckage of the San Jose's cannons.
Image taken by the REMUS submersible showing the cannon that were on board the San Jose when it sunk in 1708. Credit: REMUS image, Woods Hole Oceanographic Institution.

Explorers disclosed new details on Monday about the "Holy Grail of Shipwrecks," known as the San José. The vessel is a large 62-gun, three-masted Spanish galleon ship sank in 1708 while carrying cargo from Spain thought to be worth billions.

Why it matters: : Explorers located the ship off the coast of Cartagena on Nov. 27, 2015. The find was announced at the time, but now explorers are disclosing more information about the wreck site, how they found it, and what Colombia plans to do with the ship's contents. According to the AP, the shipwreck may contain riches that are worth as much as $17 billion in today's dollars.