Peter K,
Thank you for your very interesting post. It is still doubtful if William Phipps really wanted to go after "El Dorado" and if he had some knowledge about her last resting place. I have studied Bobadilla fleet as much as I could and as I have found there were at least 7 different theories about the place where the disaster struck that fleet. Most of them simply state that the fleet disappeared in the depths of Mona Channel. I personally think that it is not truth because they did not manage to sail so far. Some historical documents say that the hurricane struck the fleet between 8 and 12 leagues from Santo Domingo, it means way before they could even enter the Mona Channel. Christopher Columbus placed some of the shipwrecks including "El Dorado" on the coast of Island of Saona, some authors thinks it could on sharo coral reefs close to Santo Domingo, Oviedo thinks about the possibility that the currents and storng winds could deposit the rests of some of these chips even close to the Island of Beata, which in tgeory would be pretty much possible. Nobody knows until somebody finds at least one of the shipwrecks from that ill-fated fleet.
Old Man,
The truth is that one of the possible targets of ARS in a long run is 1502 fleet but we cannot say that we have found one of the shipwrecks from this fleet yet. I should know, I am principal archaeologist of ARS in the Dominican Republic. Yes, we found one very old shipwreck recently, most probably from the very early 16th century, but we have just started to explore this shipwreck so it will take some time to confirm and to get more details.
Regards to all,
Lobo