A shipwreck containing 200 tonnes of silver worth about �£150m has been found in the Atlantic - the largest haul of precious metal ever discovered at sea.

The SS Gairsoppa, a UK cargo ship sunk by a German U-boat in 1941, was found by US exploration firm Odyssey Marine.

Only one person from the 85-strong crew survived the torpedo attack as the ageing steamer tried to reach Ireland.

The vessel was on its way back to Britain from India when it ran low on fuel in stormy weather, and tried to divert to Galway harbour, but it was spotted and sunk by the German submarine.

The wreck of the 412ft ship was found this summer nearly 4,700m below the North Atlantic, 300 miles off the Irish coast, but it was only confirmed as SS Gairsoppa last week.

"Given the orientation and condition of the shipwreck, we are extremely confident that our planned salvage operation will be well suited for the recovery of this silver cargo."

SS Gairsoppa settled upright on the seabed with its cargo holds open, which means remote-controlled robotic submarines should be able to retrieve the bullion.

Work would begin in the second quarter of 2012, Odyssey said.

The seven million ounces of silver on the ship is a mixture of privately owned bullion insured by the UK government and state-owned coins and ingots.

To read the complete article, see:Shipwreck of SS Gairsoppa reveals �£150m silver haul(www.bbc.co.uk/news/uk-15061868)