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Frobisher copycat theory - an oldie but a goodie

Armchair detective

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Following Martin Frobisher's initial 1576 voyage to the Canadian Arctic, the focus abruptly shifted from finding a Northwest Passage to a frantic rush for mineral wealth. This change was triggered by a single "black stone" he brought back, which the Italian alchemist Giovanni Agnelllo falsely claimed was rich in gold ore.

Believing they were on the verge of massive wealth, several high profile individuals and groups stepped in to find and equip Frobisher's subsequent gold mining expeditions of 1577 and 1578, as in Queen Elizabeth I and the English Crown, and others.

It is possible that rival Spanish or French saw this going on and sent their own expeditions before it was learned the "gold" was worthless, which ended up on oak island.
 

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