I live in the county in question, Benton County Arkansas, home of Wal-Mart. There are several stories about the Spanish treasure cave, I've been doing some looking into it. Seems there was a old Spaniard that showed up out at Monte Ne some time back in the late 1800's or early 1900's with a old map and said the treasure was at the base of a old cliff with some bodies up above the cliff of the men who died in a fight with some Indians. Well I guess they found the bodies really fast but never found the gold and gems. The locals ended up running the Spaniard off with death threats. People kept looking for the treasure and its said it was never found. And I think the area they were looking at is now under or part of beaver lake. I know where Monte Ne is because I live just up the road from there and most of the old hotel and all the good cliffs in that area are part of the lake now.
Then there's the old Spanish treasure cave on the other side of the county in Sulfur Springs. That area is mostly hills with some farm land around it. Its said that the cave has been searched several times by a bunch of different people and owners. The area around it is pretty crazy and from knowing the area and people I would be kinda of carefull before venturing to far onto someones land. I haven't heard of any maps of anything from the sulfur springs area, but there is the Spanish treasure cave. There are so many little caves and such in the county a person could look for a long time. Just a few miles north one county away there is the home of Jesse James. There is the Jesse James cave and some other caves that he use to frequent. Guess its just a matter of knowing your local area and history. There where a couple of battles from the Civil War around here. I plan on going the the area that the Confederates retreated too and searching that area. It's said there was basicall a hand to hand fight that took place there and after checking on google earth and some other maps. I've located the spot they had to of been at. One thing thats weird its about in the same area the Spaniard was looking for the lost gold. Well at least within a mile or two. And one thing thats pointing me to that spot is its the boonies and no military park like pea ridge. Oh well thats just a little bit of what I have learned about the Spanish treasure around here.