After the submarine surfaced, it immediately made signal contact.
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Equally common in literal (submarines, divers, dead fish) and figurative (scandals, suspects, hidden facts) senses. The metaphorical use is heavily favored in news reporting on investigations.
usage
Often paired with 逐渐 (gradually) or 终于 (finally): 真相终于浮出水面 'the truth finally surfaced'.