The Royal Canadian Navy is dispatching a ship to determine if a "lost nuke" was discovered inadvertently by a diver off the coast of Banks Island in Canada.

The nuke could reportedly be the Mark IV bomb that went missing after a US bomber crashed off the area during the Cold War.

CBC news reported that Sean Smyrichinsky, a diver, discovered the mysterious object during a diving trip near Banks Island. According to the report, Smyrichinsky said that he got a bit far from his boat and he came across the object. He said it bore resemblance to a bagel cut in half, with bolts molded into it.

"I came out from the dive and I started telling my crew, 'My God, I found a UFO,'" said the diver while describing the object to be the strangest thing he has ever seen.

According to  nature world news, Smyrichinsky sent an email to the Canadian Department of National Defence after the sighting.

The Navy will reportedly send one of its warships, the HMCS Yellowknife, to inspect the object. Greg Menzies, a spokesperson for the Royal Canadian Navy, said that they will also send a team from the Fleet Diving Unit Pacific who are experts in these missions, to check on the object.

According to CBC, Smyrichinsky found out the tale of convair B-36B, a U.S air force bomber that crashed in 1950.  The CBC reports that historian Dirk Septer narrated the story of that flight, in a book published this year.

Septer said that on February 13, 1950, engines of the US air force B-36 bomber caught fire over Canada, and the plane crashed into the Pacific Ocean. The wreckage was reportedly found in a remote location in the mountains of British Columbia, after four years, but the United States admitted to losing its first nuclear bomb, the Mark IV.

Smyrichinsky is confident that he has sighted the same bomb after he saw the Google images, said the report.