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Time: 12:29:43 PM
For years back in the 70's and 80's there were treasure hunters at CALO. They would have a big old ship anchored inside the hook that they lived on and a work boat about 35 or 40' with side scan sonar and other devices such as magnetometers that they would go out into the shoals with every day, weather permitting.
I don't know if this was the ship they were looking for or not, but the timeline is correct.
I've even heard stories of some gold coins being found in the dunes. But have no idea if those stories were true.
PS: (I heard one time that Mike F. Caught a 105# red drum that the spot on it's tail was the size of a Beer Can! but I never saw that fish myself) :-)