Swissair officials announced yesterday Pablo Picasso's Le Peintre (The Painter) and an unidentified artwork were among the cargo lost in the Sept. 2 crash, which killed all 229 people on board.

Le Peintre had a declared value of $1.5 million US, yet was being transported in a normal freight container, and has been presumed destroyed.

But one kilogram of diamonds, two kilograms of watches, 4.8 kilograms of jewelry, and 49.8 kilograms of banknotes might have survived the crash to become sunken treasure off Peggy's Cove.

They were being transported in a special container with reinforced walls, a locked aluminum door, and a metal seal. However, Swissair cautioned such containers aren't shockproof or fireproof.

A military-enforced restricted zone is still in effect around the MD-11 crash site, which should prevent would-be treasure hunters from diving for the valuables. As well, the wreckage lies 60 metres down, which is beyond the range of conventional scuba gear.

"We don't anticipate anybody coming out there and trying to dive down," said RCMP spokesman Cpl. Carl Hubley. "If they do show up, I can tell you that they will be dealt with tout suite."

Picasso painted several versions of Le Peintre in 1963, 1964, and 1967. Swissair spokesman Eliot Hoff was unable to confirm which one was aboard Flight 111, nor could he say whether it belonged to a gallery or a private owner.

"We're looking into that," Hoff said. "People are still going over the manifest."

The banknotes were destined for a U.S. bank in Geneva, but Hoff said Swissair did not know their value, currency, or other specifics. He also couldn't say whether the diamonds were gemstones or industrial class.