(CNN) The wreckage of a cargo ship believed to be the El Faro has been located by a U.S. Navy search team in about 15,000 feet of water, the National Transportation Safety Board said Saturday night.

The El Faro went missing near the Bahamas on October 1 during Hurricane Joaquin with 33 people on board.

"The target identified by Orion (side-scan radar) is consistent with a 790-foot cargo ship, which from sonar images appears to be in an upright position and in one piece," the NTSB said.

The Navy plans to send a remotely-operated underwater craft to investigate the wreckage on Sunday.