In 2009 an article appeared in the Issue 18 of Wreck Diving Magazine( page 53) wherein Marx wrote this:
"One recent high-tech treasure hunt in the Gulf of Mexico ended in failure - but
not because of the equipment available. The Mexican Government hired the
Russian oceanographic vessel Keldysh to locate the remains of the Spanish Galleon
Nuestra Señora De Juncal, laden with over 2,000,000 pesos in treasure, which sank
in deep water in the Gulf of Mexico in 1631. The plan was to locate the wreck
and then use three submersibles to salvage her. After an intensive three-month
search that cost almost two million dollars, they gave up. The treasure hunters
were using the latest and best search equipment to search the wrong area. More
meticulous historical research would have told them they were more than 50 miles
from where the wreck lies."
Years earlier I had heard the same story from my dear friend, Ralph White (RIP), who was on the Keldysh during that voyage. More specifically, he said the cost of the expedition was solely on the Russians and they were frustrated in NOT being able to go to the site(s) they had researched; instead, being directed to search only other areas that had no interest to the Russians.
Maybe INAH is now going to search in the area(s) of higher probability.
Don........