The wreckage of a Russian warship, that was sunk in 1905, has been discovered by some divers off the Ulleungdo island off South Korea. According to a report in the South China Morning Post, the ship is still believed to contain around 5,500 boxes containing gold bars. The estimated cost of the gold bars in the ship is $133 billion.
The ship wreck was discovered by the divers at a depth of more than 430 metres. The team searching for the wreck for past several years comprise members from South Korea, China, Britain and Canada, said the report.
The Russian Navy Cruiser, Dmitrii Donskoi, was reportedly sunk following an encounter with a Japanese warship in 1905.
Shinil Group, the company that is carrying out the searches, released a video of the operation on YouTube. The video showed the team making preparations for the search operation and also carried footage of the damage caused to the ship.
The report quoted a statement by the company saying that the ship was severely damaged by shelling, with its stern almost broken. It added that despite the damage, the deck of the ship and its sides remained well preserved.