As likely as Pirate Treasure. 
Perhaps they know that it is a lost cause and are trying to recoup money from the History Channel.
Was that the same lab that confirmed the BigFoot scat?
An interesting theory here concerning sink holes and an old Viking ship. It’s as good a theory as any and one that does not rely upon hidden treasure. I have no idea if the contributor is mental, or has instead given us a beautiful resolution.
https://www.youtube.com/watch?v=6hUrpcxD0uo&list=UU3faqH8mYU0Hz1WtohNUk-g
[obligatory Monty Python quote]
GUARD #1: Are you suggesting coconuts migrate?
ARTHUR: Not at all, they could be carried.
GUARD #1 But then of course African swallows are not migratory.
GUARD #2: Oh, yeah…
GUARD #1: So they couldn’t bring a coconut back anyway…
GUARD #2: Wait a minute – supposing two swallows carried it together?
GUARD #1: No, they’d have to have it on a line.
GUARD #2: Well, simple! They’d just use a standard creeper!
GUARD #1: What, held under the dorsal guiding feathers?
[/obligatory Monty Python quote]
(I’m sorry, mods. … Honest, I’m really sorry… I won’t do it again, I promise…
But some opportunities are just too good to resist )
That at least makes a lot more sense then any of the other crazies out there. No, wait, he can’t be right, he just said there were no aliens involved!
I’m waiting for them to analyze the wood they’ve found, wonder if they will even do that. At least we get a new one tonight.
Watching this show makes me amazed and curious at how difficult it must be to dig a simple shaft. Humanity builds deep multi-level underground structures easily, somehow we manage to build underground parking garages in Florida without the help of aliens and pirates.
And you can’t throw a rock without hitting a mason, these guys are everywhere! I loved seeing their ornate carved wood thrones at the lodge 
“Who controls the British crown?
Who keeps the metric system down?
We do, we do!”
This is the most ill-funded treasure hunt ever. When ever they have to move something, they use whatever branch is laying around as a pry bar. Their equipment is laughable.
It’s called a blowhole: Blowhole (geology) - Wikipedia
That wiki basically describes what we have at Oak Island, in it’s entirety. Then, WAG is that erosion occurred and it started to cave in and then just becomes more of an inland saltwater pool. Maybe some natives gave the blowhole some significance, some offerings maybe, hence the debris. But, really, you have a lot of time for stuff to make its way across and around the oceans to get caught in an underground cave system. Why the platforms… who knows, maybe they wanted to see how it worked? And build scaffolding to check it out?
Very common on land near the sea where there is strong currents. I remember in 2002 walking on the (recently) volcanic part of Hawai’i and having a geyser of water shoot off next to me. I almost crapped myself.
I’m expecting them to find treasure the same day one of those other shows finds ghosts or Bigfoot.
Perhaps the money pit is haunted by bigfoot ghosts.
Then they would have found gold. RATINGS GOLD! 
I really think that three young men (not “kids” the oldest was about 30) did find a pulley and what looked like a “pit” under it. They likely dug down, maybe found a platform, then it got flooded. There’s no “flood tunnels”. Yes, they found coconut fiber, which is no big deal, the drains were likely to make sea salt to preserve fish.
Maybe a ship did pull in there and made repairs. It is called “Oak island” for a reason, they may have cut down a oak tree for some wood.
Heck, we did some digging like this for treasure too, out in the CA desert, during our college years. Found some cool minerals. Sold some to rock hound shops, made maybe $100 for about 5-10 days hard work for three guys.
“Reality” t.v. ischeap t.v. Before Survivor we watched reality t.v. which was people entertaining us in a make believe world. Those people were professionals though and professionals cost more than “real” people. The cable networks especially have opted to skimp on viewer entertainment, by hoarding the money the sponsors pay them to the network (corp) itself, instead of actors who are paid outlandishly; they pay Rick and Cory and Mike and Frank and Rick and Marty a fraction of what Jerry Seinfeld made.
Personally, I get pissed off when the idiot box thinks I would find it entertaining to listen to some narrator ask ME the viewer what the outcome or plot of the program they produced could be.
I hate “reality” t.v.
The exploration that was carried out in the 1960s-70s at Oak Island involved sinking a shaft into another part of the island (far way from the original money pit). I recall that some people wound up dead during these operations. It was claimed that there were a complex of caves under the island-has this ever been verified? hard for me to belive, as i don’t think Oak island is underlain by limestone.
From http://www.csicop.org/si/show/secrets_of_oak_island/
Other links I posted earlier:
http://www.criticalenquiry.org/oakisland/
I haven’t read through these in a while but I think they may have some info about the geology/geography.
Since this thread has been awakened…
Regarding coconut fiber; apparently it was commonly used for ropes and packaging material on sailing ships, so it shouldn’t be a surprise that it accumulated on and near the beaches of an island in Nova Scotia.
Also, that area has experienced the repeated advance and retreat of glaciers. I would assume that each instance would leave a new layer of gravel and plant debris (including wood).
http://novascotia.ca/natr/meb/fieldtrip/glacier.asp
I’m bumping this to see if anyone else has watched the latest season. I kept watching, though I’m not really sure why any more.
For those that didn’t really watch, they did find some interesting items this season, especially the British coins. Why they don’t continue to at least explore that area I don’t know. It might not be “treasure” but it is some interesting historical stuff.
Not sure what to make of the metal they found, of course in the last episode. It was pretty deep down, but I don’t know how deep some of the other’s had dug down.
I can only watch this on my DVR, too much recap any more. I can usually finish one in 25-30 minutes.
The Lagina brothers were inspired onto their quest by an article in Reader’s Digest. I remember reading it back in 1965. I was at just the right age where it seemed perfectly reasonable - that pirates really would dig a 130 ft deep hole and rig it was elaborate flood tunnels and so forth. It was like reading Peter Pan or Treasure Island, but it was a Real Place!
And, like the Laginas, I have had a soft spot for the Oak Island Mystery ever since. It’s really my “guy” thing. I don’t watch sports - ever. No football (either kind), baseball, auto racing, hockey, or any of the rest of it. I don’t drink alcohol - ever. I don’t have a tattoo. I don’t own a pick-up truck. I don’t have a garage full of tools. I don’t have a half-completed antique car or bathroom project that has lingered a few years too long.
Really… the only stereotypical thing … the thing that causes my wife to roll her eyes every time … is Oak Island. It’s a sickness, I know.
She doesn’t know how well off she is.
Perhaps she didn’t date much before you were married.
Score!
My boss thinks that I, a degreed archaeologist turned engineer, will enjoy this. Yeah, when I was 11. He’s never heard of “salting a mine,” much less its use in keeping reality shows on the air.