Spanish Galleon Found, Treasure Hunters Say

Treasure hunters have found what they believe are the remains of a gold- and silver-laden Spanish galleon sunk by pirates in 1792 in the River Plate’s muddy waters off the Uruguayan capital’s coast.

Ruben Collado, an Argentine who heads a team of 15 divers searching for the galleon El Preciado, told reporters Thursday that he had located the spot where the ship went down.