Hello Seahunter,
I found out the "Treasure island" you have asked for. It´s name is MAJAGUAL and I think that it is still on sale. There is exactly what was written about it:
Panama, Central America
Price US $1 200 000
Status for sale
Size 99 acres
Location Bay of San Miguel
Isla Majagual, Panama
Isla Majagual is located in the Pacific ocean, only two hours by boat from Panama City. She's a stunningly beautiful, 99 acre island of great biodiversity, including fresh water!
The property comes with title and has tremendous development potential for a worldclass fishing lodge and/or a very interesting eco-tourism resort. The island consists of more than thirty acres of flat land ideal for construction, bordering on three different beaches, one with surfing potential and another on a natural protected bay. There are seventy acres of forested rocky hills from where one has the most unbelievable ocean and mountain views. Building on the volcanic rocks is easy. Trails and hiking paths can be designed all over the island. The huge rocks around the bay can be easily connected with wooden bridges for the ultimate "survivor" experience. Ten minutes by boat will take you to the fishing village of Chiman where local fisherman sell their fresh fish and seafood straight from the boat. In Chiman, you can find a 24-hour police station, public phones, a medical post, a small school and 4x4 or offroad motorbike trails into the forests and mountains.
Isla Majagual is located relatively close to the famous Tropic Star lodge (Bahia Pinas) where world records have been set fishing Sailfish and Black Marlin. The beautiful Pearl Cays are only 45 minutes away. Panama City is a 35 minute helicopter flight away, or 2.5 hours by boat.
The island was used as a base of attack on Spanish treasure ships by pirates in the Spanish colonial times. the Spanish treasure galleon San Jose sunk on June 17, 1631 nearby the island and divers still pull up gold and silver coins - two thirds of its cargo is still uncovered.
Nearby on the mainland, in the bay of San Miguel, where Vasco de Balboa first encountered the Pacific Ocean, one can discover old ruins of Spanish forts. Close by live old Indian tribes, still living the way they lived for thousands of years. Visiting these tribes is always an amazing experience. The island is also an ecoparadise with many bird and plant species to be enjoyed. There are spectacular sightings of whales and dolphins swimming in the Pacific. The island has freshwater sources.
I hope I could be of some help,
Regards,
Lobo