New details about the discovery of the San Jose were released on Monday with permission from the agencies involved in the search, including the Colombian government.
"We've been holding this under wraps out of respect for the Colombian government," said Rob Munier, WHOI's vice president for marine facilities and operations.
The exact location of the wreck of the San Jose, often called the "holy grail of shipwrecks," was long considered one of history's enduring maritime mysteries.
The 62-gun, three-masted galleon, went down on June 8, 1708, with 600 people on board as well as a treasure of gold, silver and emeralds during a battle with British ships in the War of Spanish Succession. The treasure is worth as much as $17 billion by modern standards.