The wreckage of a pirate ship abandoned by Captain Kidd in the 17th century has been found by divers in shallow waters off the Dominican Republic, a research team claims.

The underwater archaeology team, from Indiana University, says they have found the remains of Quedagh Merchant, actively sought by treasure hunters for years.

Charles Beeker of IU said his team has been licensed to study the wreckage and convert the site into an underwater preserve for the public.

It is remarkable that the wreck has remained undiscovered all these years given its location, just 70 feet off the coast of Catalina Island in the Dominican Republic in less than 10 feet of seawater.

The full story is on yahoo's homepage...  Thought the pirates would be interested