Colombia will try to raise objects from a 1708 shipwreck believed to have a cargo worth billions

The Colombian government says it will try to raise objects from the 1708 shipwreck of the galleon San Jose, which is believed to contain a cargo worth billions of dollars

BOGOTA, Colombia -- The Colombian government said Thursday it will try to raise objects from the 1708 shipwreck of the galleon San Jose, which is believed to contain a cargo worth billions of dollars.

The 300-year-old wreck, often called the “holy grail of shipwrecks,” has been controversial, because it is both an archaeological and economic treasure.

Culture Minister Juan David Correa said the first attempts will be made between April and May, depending on ocean conditions in the Caribbean. Correa pledged it would be a scientific expedition.

“This is an archaeological wreck, not a treasure," Correa said following a meeting with President Gustavo Petro. “This is an opportunity for us to become a country at the forefront of underwater archaeological research.”

But the ship is believed to hold 11 million gold and silver coins, emeralds and other precious cargo from Spanish-controlled colonies, which could be worth billions of dollars if ever recovered.