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For Sale: Island with Mysterious Money Pit [Oak Island]
LiveScience ^ | 11/7/05 | Heather Whipps

Posted on 11/09/2005 7:14:42 AM PST by ZGuy

It may look like a fixer-upper at first glance, but what is buried beneath scrubby little Oak Island might just make its estimated $7 million price tag worth the investment.

Oak Island, in Nova Scotia, is famous for its Money Pit, a mystery that has endured two centuries, claimed six lives and swallowed up millions in life savings.

The Pit was discovered in 1795 by a local boy named Daniel McGinnis who, spotting an unusual clearing in the earth under one of the island's oak trees, was prompted to start digging. The discovery of layered planks, mysterious stone slabs, and mats made of coconut fibers descending deep into the ground turned his casual afternoon dig into an all-out excavation.

Investors and thrill-seekers would eventually jump in and continue the work, kicking off one of the world's longest running treasure hunts.

Complex trap

What appears to be a complex flooding trap has thwarted efforts to reach the bottom of the Money Pit ever since. Some think the pit was purposely flooded with seawater, via a series of artificial swamps and tunnels, to hide its contents.

Through the murk, drill borings and shafts dug by the island's series of owners have detected what seem to be cement vaulting, wooden chests, and scraps of parchment paper. Radiocarbon dating of these artifacts is consistent: whoever constructed the shaft likely did so sometime in the 16th Century.

Speculation about the contents of Oak Island's Money Pit range from the treasure of the Knight's Templar to Shakespeare's original manuscripts.

Oak Island's current owners, Dan Blankenship and David Tobias, have worked on the island since the 1960s, sinking millions of dollars into the project and revealing some intriguing clues of their own. For many who follow Oak Island developments, their abandonment of the treasure comes as a surprise. As recently as December of 2003, Blankenship told the Halifax Herald that he would announce some new, exciting findings in the following months. The revelation never came.

What's it worth?

The treasure's fate -- assuming there is treasure -- now rests on the outcome of the sale. Court-appointed liquidators in Nova Scotia are currently wrapping up the evaluation of Oak Island's market worth, with an announcement expected before the end of the year.

A growing movement led by the Oak Island Tourism Society calls for the governments of Canada or Nova Scotia to purchase Oak Island and exploit its potential as a major attraction. It seems for now the governments have little interest in throwing their hats into the ring of potential bidders, and that has many who've follow the island's saga breathing sighs of relief.

"The ideal candidate would be an individual or group with a genuine interest in and means to carry out professional archaeological work", Mark Finnan, author of "Oak Island Secrets" (Formac, 1997) told LiveScience in an e-mail interview.

Finnan believes Oak Island has not seen the last of the aging treasure-seeker Dan Blankenship, either.

"He has a strong hunch about the nature of the treasure and may yet pass on his findings to the new owners of the land or even participate in a new exploration effort," Finnan said.


TOPICS: Canada; Miscellaneous
KEYWORDS: canada; fdr; godsgravesglyphs; moneypit; mystery; novascotia; oakisland; ohsomysteriouso; treasure
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To: wizr
I think this would be a great project for NUMA

< /obscure reference >

41 posted on 11/09/2005 8:44:01 AM PST by Sloth (You being wrong & me being closed-minded are not the same thing, nor are they mutually exclusive.)
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To: timsbella

LOL.

$15 Billion later...


42 posted on 11/09/2005 8:44:42 AM PST by fanfan (" The liberal party is not corrupt " Prime Minister Paul Martin)
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To: The Louiswu
I'll be that American who does it! :o)

I could use the excitement AND the money! ;o)

(Also a lesson o9n spelling! :o/

43 posted on 11/09/2005 8:46:17 AM PST by Pippin
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To: fanfan

But think of all the CBC documentary footage that could be shot. Telefilm or the NFB could make a movie - re-employ all those former Degrassi actors. Think of it, Shirley Douglas could be the matriarch.


44 posted on 11/09/2005 8:46:45 AM PST by timsbella (Mark Steyn for Prime Minister of Canada!)
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To: SquirrelKing
Do you think you've put away enough nuts to swing the deal?

Just having fun with your screen name

BoneHead

45 posted on 11/09/2005 8:47:41 AM PST by BoneHead ((Not that I have much room to talk with this moniker!))
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To: ZGuy
Here's a previous link which had a great description of the all the efforts to date. http://www.freerepublic.com/focus/news/722312/posts
46 posted on 11/09/2005 8:48:59 AM PST by AmusedBystander
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To: Question_Assumptions

They had D&D in the 16th Cen. ?LOL!


47 posted on 11/09/2005 8:49:12 AM PST by Pippin
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To: Question_Assumptions
A classic Dungeons and Dragons ploy. :-)


48 posted on 11/09/2005 8:50:11 AM PST by killjoy (Real Men Love Bush)
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To: timsbella
Think of it, Shirley Douglas could be the matriarch.

Yes, and Keifer Sutherland as the dig leader!

All in the family.

49 posted on 11/09/2005 8:51:14 AM PST by fanfan (" The liberal party is not corrupt " Prime Minister Paul Martin)
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To: fanfan

I do love a good mystery!


50 posted on 11/09/2005 8:52:52 AM PST by Pippin
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To: BoneHead
Just having fun with your screen name

No. You were having fun with my nuts.

HaHa.

We have several Defense Department contracts for our extensive, secret underground manufacturing centers, and have significant petroleum holdings in the South China Sea. I think we'll be okay.

51 posted on 11/09/2005 8:56:11 AM PST by SquirrelKing (I'm not mean, you're just a sissy.)
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To: fanfan

As soon as I hit the send button I realized we forgot Gordon Pinsent - gotta ressurrect his career too.


52 posted on 11/09/2005 9:00:47 AM PST by timsbella (Mark Steyn for Prime Minister of Canada!)
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To: ZGuy

In 400 years, wonder what'll be thought of our trash dump landfills?


53 posted on 11/09/2005 9:03:17 AM PST by azhenfud (He who always is looking up seldom finds others' lost change.)
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To: Pippin
No D&D in the 16th Century but a lot of D&D traps are designed, like this island, with at least a nod to Medieval, Renaissance, and Age of Discovery technology.
54 posted on 11/09/2005 9:12:22 AM PST by Question_Assumptions
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To: Question_Assumptions

KEWL!


55 posted on 11/09/2005 9:14:18 AM PST by Pippin
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To: ZGuy
What's it worth?

A fool and his money are easily parted.

56 posted on 11/09/2005 9:34:10 AM PST by Theophilus (Save Little Democrats, Stop Abortion)
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To: johnny7
I would laugh, but its not funny...anymore. So true...thinking back to the technology available at the time... this mystery CREEPS ME OUT BIGTIME!

..Hey, Man! :D ...This could be, "a plot from the future"...

The Oak Island, Buried Treasure Mystery...like the Truman Show, is the ultimate Game show...for Space Aliens. :D

57 posted on 11/09/2005 10:42:35 AM PST by skinkinthegrass (Just because you're paranoid, doesn't mean they aren't out to get you :^)
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To: The Louiswu
There are a number of books on this island and the efforts that have been made to find what ever was down there (if anything).

There have been multiple professional and nonprofessional efforts to excavate the site. None have been successful. In fact there have been so many efforts that the site of the original hole has been lost. FDR was an investor in one of the efforts.

Woods Hole did an exploration for the current owner but they have never released any of their findings or photos and the owner isn't talking.

Douglas Preston and Lincoln Child did a great fictional treatment of this in their book Riptide. I always enjoy their books and have read almost everyone of them. I think I'm missing one or two of the nonfiction books.
58 posted on 11/09/2005 10:46:03 AM PST by airedale ( XZ)
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To: skinkinthegrass

Oak Island is the LaBrea Tar-Pit of buried treasure dinosaurs.


59 posted on 11/09/2005 10:55:33 AM PST by johnny7 (“What now? Let me tell you what now.”)
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To: ZGuy

A few observations:

Digging a 212 shaft in the 17th century was a serious undertaking and would involve many manhours of work.


The addition of the underground flooding system would probably quadruple the work.

I suspect that when we clean it out we will find that it was for a more valuable purpose than burying treasure although I can't think of what that purpose would be. Perhaps the key may lie in the flood tunnels which would raise and lower the water level with the tides.

Any ideas, anyone? This could be a machine that did something using the tides as a power source.


60 posted on 11/09/2005 11:03:58 AM PST by TexanToTheCore (Rock the pews, Baby)
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