Is it possible: 1 Silmaril found: The Arkenstone

[Hot, crispy nice hobbit]

It was said in Silmarillion that:

And thus it came to pass that the Silmarils found their long homes: one in the airs of heaven, and one in the fires of the heart of the world, and one in the deep waters.

Seemed somewhat intuitive that the Silmaril in the volcano should still be in the molten core of the Earth instead of being dug up and chiseled into some twopenny worth of heirloom...