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Around 1967, Daniel C. Blankenship and David Tobias formed Triton Alliance, Ltd. and purchased most of the island.
In 1971, Triton workers excavated a 235 foot shaft supported by a steel caisson to bedrock.
According to Blankenship and Tobias, cameras lowered down the shaft into a cave below recorded the presence of some chests, human remains, wooden cribbing and tools ; however, the images were unclear, and none of these claims have been independently confirmed.
The shaft subsequently collapsed, and the excavation was again abandoned.
This shaft was later successfully re-dug to, reaching bedrock ; work was halted because of lack of funds and the collapse of the partnership.

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