Oceanic Research and Recovery Inc., a marine salvage and exploration company, today announced that it has entered into a joint venture agreement with the Mares Del Sur Association to pursue shipwreck projects in Peru.
This project will focus on working in partnership with Mar Del Sur Association, a Peruvian based organization dedicated to locating and recovering Colonial era Spanish galleons lost along the coast.
Named Southern Cross, the venture is due to begin in the late May to early June timeframe.
During the colonial years of 1550 to 1800 what was then the Viceroyalty of Peru was one of the richest of Spain's possessions in the New World.
Tons of silver and gold regularly shipped out of Peru on board ships of the South Seas Armada which transported the vast wealth to Panama where it was then shipped across the isthmus and put on board ships bound for Spain.
"Southern Cross has been in development for almost three years," said Scott Heimdal, CEO of ORRV. "This is only one of the exciting developments that will be announced in the coming weeks."