Karl Klingland, head of the Sogne Diving Club, told Fox News: “This discovery is important because no one has been robbing this wreck for items.
“We are hoping that remaining objects can be kept at sea bottom so that other divers can get the same feeling as we got when we discovered this untouched wreck.”
The diving club is keen for some of the items to be recovered and restored, and exhibited in a local museum.
The ship sank on March 21, 1760, off the Sogne archipelago.
In the statement, Norway’s Directorate for Cultural Heritage said: “The vessel sank under dubious circumstances and the Dutch Captain Pitter Eelkesh later received criticism during the inquiry.”
The Juffrau Elisabeth had all of its sails up when it struck several small rocky islands, according to the Directorate.
It said: “The recent discovery is significant, and it will be an incredible source of information for scientists.
“There are very few preserved shipwrecks from this period in Norway.”
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The diving club was founded in 1979.
Divers who became members of the club were already searching for the wreck, explained Mr Klungland.
The Norwegian Maritime Museum will now document the wreck site with advanced technology.
Photogrammetry will create a 3D model of the wreck, with an underwater drone being used to take photos of the remains.
A separate project has seen experts harness virtual reality to construct a digital version of a 17th century dutch shipwreck.
Melckmeyt, or Milkmaid, found itself wrecked off a remote Icelandic island on October 15 1659.
The ship was on a secret trading missions when it sank amidst a fierce storm.
The ship, however, can now be viewed in full thanks to work carried out by specialist digital archaeologists who sculpted a 360-degree virtual view of the wreck which was discovered in 1992.
Archeologists also uncovered a long-lost shipwreck off the coast of South Africa earlier this year.
The find excited researchers as it pointed towards the nation’s colonial past and offered a glimpse of the scale of the Dutch’s first instance of land theft.
The ship, thought to be of the Dutch East India Company, became straddled in Table Bay in March 1647 – just a few years before the European nation first colonised South Africa in 1652.