Just off the coast of Madagascar, buried beneath centuries of coral and sand, researchers may have finally found the remains of one of the most legendary pirate heists of the 18th century. Befitting of a Goonies-style fantasy, it’s loaded with treasure.

The discovery was detailed in the latest issue of Wreckwatch Magazine, the very real publication for exclusive news and features about the world of shipwreck hunting. That’s living proof that the delightful ultra-specificity of the magazine world has not died just yet. You can read the team’s published research paper here.

In 1721, a Portuguese warship called Nossa Senhora do Cabo set sail from Goa, stuffed to the gills with precious stones, religious relics, gold bars, and other high-end loot on its way to Lisbon. But before it could make landfall in Europe, it hit a storm and limped into range of pirate-infested waters.

That’s when the wonderfully named pirate Olivier “The Buzzard” Levasseur rolled up with some of his scallywag friends and took it with barely a fight. The ship, carrying a Portuguese viceroy, an archbishop, and over 200 enslaved people, was captured and dragged to the pirate hub of Île Sainte-Marie (now known as the island of Nosy Boraha), off Madagascar’s northern coast.

Archaeologists Think They’ve Found a $138 Million Pirate Shipwreck Off Madagascar

For centuries, no one had any idea where the location of the Cabo’s final resting place was, until two researchers from the Massachusetts-based Center for Historic Shipwreck Preservation claimed to have found it after they had spent 16 years sonar scanning to uncover underwater mysteries.

In their paper, which hasn’t been peer reviewed yet, the pair says they have dozens of artifacts that back up their claims. They claim to have religious carvings, ivory plaques, and woodworks thought to have been crafted in Portuguese-controlled Goa.

They say that these items, along with structural evidence and historical records, suggest that they have definitely found the remains of the Nossa Senhora do Cabo since it’s the only ship in the region’s documented history that fits the profile.

Here’s the stuff every pirate-loving child’s dreams are made of: the estimated value of the cargo, in today’s money, is around $138 million. Clifford and Agostini are content with this discovery alone. They think there could be up to 10 shipwrecks around Île Sainte-Marie. Discovering the Cabo was huge, but it could just be the tip of the iceberg.