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The sunken vessel was discovered yesterday morning, the stern sitting on the bottom of the lagoon.
The sinking was believed to have happened some time after 9.30pm.
Port of Greymouth and West Coast Regional Council staff placed a containment boom around the vessel as a precaution against a diesel leak.
The boat owner was in Blenheim at the time and was returning to Greymouth today.
A regional council spokesman said it was up to the owner to retrieve the boat.
It was unclear what caused the boat to take on water.