A rare gold chalice from a Spanish fleet that sank in 1622 was unearthed Tuesday morning by a treasure diver who couldn't believe his find.

''Oh, my God,'' diver Michael DeMar said, describing his discovery of the chalice on the site where the Spanish galleon Santa Margarita is believed to have gone down during a vicious storm.

Dented on a few sides and encrusted with marine growth, the chalice weighs more than a pound is etched with scrollwork and boasts decorative handles.