‘Lost Continent’ of Zealandia revealed in new maps

Zealandia, a fragment of the supercontinent Gondwana, was declared a distinct geological continent in 2017. It began separating from Gondwana in the Late Cretaceous period. Despite being mostly submerged, Zealandia is considered a continent due to its distinct area and continental crust. Today, 94% of it lies beneath the ocean.

Why is Zealandia considered a continent despite being mostly submerged?

What percentage of Zealandia is currently submerged?