Buenos Aires (CNN) A missing Argentine naval submarine has been found, a year and a day after it vanished in the South Atlantic with 44 crew members on board, authorities said Saturday.

The wreckage of the ARA San Juan, which "suffered an implosion," was found about 870 meters (2,850 feet) down on the ocean floor, Argentine naval Capt. Gabriel Attis later told reporters in Buenos Aires.

Family members at the navy headquarters were shown three images of the remains of the San Juan's "sail," or tower, and bow sections.

Hours before the wreckage was positively identified, the Argentine navy tweeted an image of a point of interest on the seabed, suggesting that a 60-meter-long object might be the missing vessel. An American company contracted by Argentina located the submarine.

#ARASanJuan #LaBúsquedaContinúa Actualización: La empresa informó nuevo punto de interés en el Sitio 1 área 15A-4, a 800 mts de profundidad. El punto de interés tiene una dimensión de 60 mts de longitud. Hora de arribo al área para iniciar investigación 19:00 hs aproximadamente. pic.twitter.com/l5k8p8Zjye — Armada Argentina (@Armada_Arg) November 16, 2018

Footage showed relatives of the lost crew members grieving in the northern port of Mar del Plata, the submarine's home base, as they received the news the submarine had been found. The vessel's condition remains unclear.

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