This search was originally for an alleged 1600's Spanish cannon (or two) near the top or possibly just down on the east slope of the Black Range. Those early field cannons were small, about 40 inches. Here's one recovered in Arizona, alleged to have been abandoned by the Coronado Expedition.
Coronado Cannon recovery, 2020
Being small and light, it is plausible that small field cannons like these could have found their way up to the top of the Black Range. It's feasible that the revolting Natives recovered them from the fleeing Spanish in 1680 at the east bottom of the range, somewhere on the Camino Real as they driving the invaders back to El Paso. It would have been in character for the Natives to haul them up and hide them where they would not likely be recovered. Makes sense to me anyway. So, the cannon story, for me, is a definite possibility.
However, there is no record of gold being recovered anywhere near where the cannons were allegedly recovered in the Black Range, and rumors of a Spanish gold mine up in that vicinity require quite a leap of faith. To my knowledge, no indications of a mine was found while searching for the cannons, but anything's possible, I suppose. But, conflating those ideas to the Adams Diggings is wholly contradictory to the numerous versions of the LAD tale, all of which verify the recovery was placer gold, not lode.
Here's a great video from Ty Lee, who visits the alleged cannon recovery site from the east side of the ridge on horseback and on foot. The Black Range is difficult and rugged, as you'll see if you watch the video. Awesome work, Ty.