Divers are hoping to reach the wreck of the Honey Dew IIlater today after part of the ship was found near Ardmore Bay.
The Coast Guard was searching the area when sonar revealed debris in the water. Part of a ship's railing, identified as belonging to the Honey Dew II, was recovered.
Divers are preparing to search the area this afternoon, depending on the weather.
The trawler went missing almost two weeks ago, with two crewmen on board, skipper Ger Bohan and his Polish crewmate Tomasz Jagla.
Naval divers are also hoping to get to the wreck of the trawler Pere Charlestoday and search for its five crewmen.
The wreck of the 20-metre twin rig trawler was detected 2.5 miles south of Hook Head over a week ago. Bad weather has prevented diving since the boat sank on January 11th, however.
On board were skipper Tom Hennessy (32), a father of one originally from the Maharees in Co Kerry; his uncle and fellow Kerryman Pat Hennessy (48), single; Billy O'Connor (50), a father of five from Dunmore East; Pat Coady (27), father of one from Duncormick, Co Wexford; and Andriy Dyrin (32), married with one child from Sevastopol in Ukraine.
Mr Coady's father and grandfather both died in drownings.
Last week, Naval divers managed to remove some netting obstructing access points to the ship before bad weather forced them to abandon further dives.