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More than 300 years after it sank during an attack in the Caribbean near Cartagena's coast, a Spanish treasure ship has been found, says Colombia's President Juan Manuel Santos.
Santos announced the discovery of the legendary galleon Friday night, tweeting: "Great news: we found the Galeón San José!"
The value of the San Jose's treasure — believed to include gold, silver, emeralds, and other precious cargo — has been estimated at more than $10 billion, with a range of $4-$17 billion often invoked. Much of the bullion came from mines in what is now Peru.
The discovery was made on Nov. 27, Santos said at a news conference in Cartagena Saturday. He called it "one of the biggest findings and identification of underwater heritage in the history of humanity."
At a formal announcement this morning, Santos said, "I am very pleased, as head of state, to inform you that, without a doubt, we have found, 307 years after its sinking, the galleon San Jose."
The three-decked ship was reportedly 150 feet long, with a beam of 45 feet; it was armed with 64 guns. Colombia says researchers found bronze cannons that are in good condition, along with ceramic and porcelain vases and personal weapons. The researchers say that the specifications of the cannons leave no doubt that the wreck is that of the San Jose