PORTUGAL — Researchers are hailing the discovery of a 400-year-old ship as one of the most significant finds of this decade.<br /><br />A team of archaeologists have discovered an ancient shipwreck off the coast of Cascais, Portugal earlier this month, reports The Guardian.<br /><br />The ship was believed to be returning from a trip to India and was carrying different relics from the late 16th or early 17th century when it sank.<br /><br />The wreckage was discovered 12 meters beneath the surface of the water, covering an area 100 meters long and 50 meters wide.<br /><br />The director of the project said the wreckage was discovered by divers using geophysical survey equipment.<br /><br />Peppercorns, cowrie shells and nine bronze cannons were found at the site as well as <br />fragments of Chinese porcelain dating back to the 16th and 17th century.<br /><br />The mayor of Cascais said the discovery is extraordinary and helps us learn more about history. <br /><br />Officials plan to examine the artifacts and believe there is still more to be discovered at the site.