"Her sinking caused a huge amount of environmental and ecological damage, up and down this coast and over to Coromandel, far more damage than the Rena caused," Mr Gordon said. "But being wartime, it wasn't recorded in detail."
What was recorded then and has always been the big story told about the Niagara is the 8.5 tons of gold being taken to the US to pay for British munitions. Most of the gold was retrieved in 1941, when salvagers blew holes in the hull to access the holds.
Since then, there have been many reported sightings of oil on the water's surface, with no proven cause. Mr Gordon estimates there could still be 1000 tons of oil in tanks which an old sonar survey and remote controlled filming indicate are still intact. "But how long will that tankage stay intact?"
Despite efforts by the New Zealand Underwater Heritage Group to convince authorities of the need, there has been no survey to determine how much fuel the wreck still holds.
"At 120m, it's too deep, it's out of sight and out of mind."
Mr Gordon said the authorities claimed oil that surfaces occasionally was from two vehicles being carried on the Niagara.
"We know it's bunker oil that's coming up, we've taken samples."
Mr Gordon is the inventor of a remotely operated vehicle (ROV) that has been sent down to film the wreck several times. The footage shows icicle-shaped rusticles on the hull, indicating the steel is changing structure as the iron in it oxidises. Mr Gordon said that destabilisation of the steel adds urgency to the need for a survey.