[Lee'sGhost]

They're looking in the wrong place. The location is likely somewhere around Cedar Island. Ever listen to their Cockney-like accent? The theory is that when John Smith came back to the East Coast, navigation being what it was -- and the fact that a couple of hurricanes had come and gone in his absence and the inlets had changed -- that he couldn't find the actual location of the colony. Remember, he sent out several search parties as he traversed the coast in his ship. Some of his men were killed by Indians.

The original colonist are fishermen and farmers living around Cedar and Harpers Islands still waiting for his return.

[Constitution Day]

I suppose that's a plausible theory.

Have you heard of the 16th c. signet ring that ECU archaeologists found on Hatteras Island?

The crest on it was connected to the family of gentleman who was one of the colonists.

see: http://www.outer-banks.com/hatteras-school/dig98.html