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Divers exploring the waters of Silver Bank can glimpse coral reefs that are home to numerous tropical fish and sea fans. If you're lucky, you may even be able to spot the sunken Atlantis submarine that is located at depths of about 60 to 80 feet.
Did you find that on Flckr? Sunken Submarine Barbados (sons photo) | Flickr - Photo Sharing!
Also mentioned at Diving and Snorkeling in Barbados | barbados-guide.info so they may know where it is...
The second link gives a hint to where it is. Not too deep.That is where I found it.
There is one just like it in Key West if you want one. It's about to go to auction. It would be coolio in the local dive park.....