There's another group searching for a spanish galleon in the Cape Lookout Shoals about 10 miles from the blackbeard site. and yet another group which suspects that the galleon is actually buried in the sand under or around Ft. Macon at Beaufort inlet.
From Cape Henry to Cape Hatteras to Cape Lookout (and further south to Cape Fear), the Graveyard of the Atlantic.
Many a night we used to sneak in from the beach and sit on the wall of the moat around Ft. Macon late at night drinking and watching for ghosts walking around the fort. We never saw any until shortly after the first six-pack though....