Canberra, Mar 6 (IANS): The wreckage of a US aircraft carrier that was sunk during the World War Two has been found off the east coast of Australia, authorities said on Tuesday.

The USS Lexington was found on Sunday located at a depth of about 3 km in the Coral Sea, reports the BBC.

The ship was lost in the Battle of the Coral Sea from May 4 to 8, 1942. More than 200 crew members died in the fighting.

The US Navy confirmed the ship had been discovered by a search team led by Microsoft co-founder Paul Allen.

Pictures showed the wreck to be well preserved.

The discovery of the Lexington, along with 11 of its 35 aircraft, was made by Allen's company Vulcan.

Adm Harry Harris, head of the US Pacific Command, praised the discovery, reports the BBC.

"As the son of a survivor of the USS Lexington, I offer my congratulations to Paul Allen and the expedition crew of Research Vessel (R/V) Petrel for locating the 'Lady Lex'," he said on Tuesday.

The Battle of the Coral Sea is considered a key moment in halting Japan's advance in the Pacific during the war.

The Lexington was scuttled by US forces after being struck by several Japanese torpedoes and bombs during the battle.

The ship will not be retrieved because the US Navy considers it to be a war grave.