SAUGUS (CBS) – A life raft believed to be from a missing fishing boat was found in Saugus Tuesday evening. The 25-year-old captain and 50-year-old crewman who were aboard the Foxy Lady II remain missing.

The 45-foot vessel left Gloucester Saturday morning, and its last known location was 15 miles north of Provincetown.

The captain’s girlfriend notified the Coast Guard at 8:05am Monday that they had not returned as planned on Saturday. The Coast Guard says they have since covered more than 360 square miles in their search for the vessel.

First responders told The Daily Item that the rescue capsule with the words “Foxy Lady II” was found in the marsh off the end of Bristow Street in Saugus.