Treasure hunters in Florida recently uncovered a 22.5-pound silver bar from a legendary shipwreck — the first of its kind recovered in nearly three decades.

Divers with Mel Fisher’s Shipwreck Expeditions, working from the salvage vessel DARE, found the silver bar at the wreck site of the Nuestra Señora de Atocha.

Captain Drake Nicholas and the crew recovered the silver bar from about 50 feet of water off Key West, Florida, according to a press release.

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The Atocha, a Spanish treasure galleon, sank in a hurricane off the Florida Keys in 1622 while carrying silver, gold and emeralds.

The wreck’s famed “Mother Lode” was discovered by treasure hunter Mel Fisher’s team in 1985 and continues to yield artifacts more than four decades later.

The team was alerted to the silver bar after detecting a “very strong target” on a metal detector, said Sean Browne, head of investor relations for Mel Fisher’s Shipwreck Expeditions.

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“The crew used an airlift to remove layers of sand and sediment while working slowly around the target,” Browne told Fox News Digital.

“As more of the object became exposed, it became clear we were looking at a silver bar.”

The silver bar was “heavily encrusted” with marine growth, Browne added, and is currently undergoing conservation to remove the buildup.

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“Despite the marine growth, the bar remained remarkably intact,” he said.

“One of its most distinctive features is the small depression on the top surface where it was tested for purity before being loaded aboard the Atocha in 1622.”

Browne noted that, although this is the first silver bar recovered by the expedition from the Atocha since 1999, the crew has recovered hundreds of silver bars from the wreck since the ship’s main treasure deposit was discovered in 1985.

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Since then, the crew “has continued to recover silver and gold coins, emeralds, swords, keys, pottery, navigational instruments and many other artifacts from the Atocha and Santa Margarita wreck sites,” Browne said.

“This silver bar is exciting because it reminds us that significant discoveries are still being made,” he added.

“It reinforces what we’ve always believed: The expedition is active, the search continues, and remarkable artifacts are still waiting to be uncovered beneath the waters of the Florida Keys.”

Browne estimated the silver bar could be worth between $50,000 and $100,000 today, but said its historical significance far outweighs the value of the silver itself.

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Even after decades of excavations by Mel Fisher’s expedition, Browne said the Atocha still holds more treasures waiting to be uncovered.

“Historical records indicate that hundreds of silver bars, along with thousands of silver coins, emeralds and other artifacts, still remain on the Atocha and Santa Margarita wreck sites,” he said — noting the crew recovered three silver coins in a single day in late June.

“Every recovery adds another piece to the story and helps guide the expedition toward future discoveries,” Browne added. 

“This find is an exciting reminder that one of history’s greatest treasure hunts is still very much underway.”