Los Carrizales:

Las Carrizales (translated "The Reeds") is a quiet, deep and unpopulated bay north west of Santiago Bay. There is a rumor that Spanish gold and silver were stashed here and many have gone to look for it. You need a boat to reach this site. Just outside the mouth of the bay on the left as you approach is a huge wall which makes a spectacular dive. There is also a section known locally as the "Grand Canyons" in addition to some shallower sites with live coral. There are easily 4-5 sites here with some good for novice divers and others for advanced divers. These are great sites to see octopus, lobster, eels and variety of colorful fish. Depths range from 20-80' (6 - 26 meters).