Billion-dollar pirate treasure trove found

TREASURE hunters believe they have found a legendary trove of 18th century jewels and gold coins worth billions of dollars on Chile's Robinson Crusoe island.

The island in the Juan Fernandez archipelago, 700km west of Chile was a refuge for corsairs crossing the Pacific Ocean.

Legend has it Spanish navigator Juan Esteban Ubilla y Echeverria stashed a fortune on the island in 1715.

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