Kurt, the problem with Jake's stories are which ones do you believe? This was a man who lied and stole almost as easily as you and I eat and drink.
A case based on Jake's actions could certainly be made that Jake found something of value early on in his searches and became obsessed with finding more. That obsession led him to defraud people, lie, steal, etc... in the justification that if he could only find the "mother lode," he would repay everyone and most importantly prove to everyone that he knew what he was doing.
A case could also be made that he misrepresented everything. That he fabricated it all - maybe he even conned people out of money to buy some real gold bars (or painted lead bars gold colored) and planted them in a cave in order to convince folks that he found something valuable and if they would only give him an "investment," he could find more and make everyone wealthy.
I'm glad you were able to find something that one of the guys who worked for Jake pointed you to, but that doesn't really prove much.
I'd like to think that Jake was onto something out there, but it's almost impossible to know what was legitimate and what wasn't - especially when it's been proven that most of it wasn't.