Yes, many different versions over the years. Looked for it half-heartedly myself when younger, no luck of course.
Have been told that the Guadalupes, being mostly limestone from the reefs of an ancient ocean, are not likely to contain any gold. (Isn't that what they say about the Superstition, "wrong geology"?) However, there are some old mines in that country, of what, I don't know? I've mentioned before about the small bar of silver I personally saw that was found behind the skull in a Native grave in the foothills of the Guadalupes (Pecos Rv.). Also mentioned the possible cart tracks found up in those mountains. There was salt, a valuable commodity in the past for gold refining, and also for meat preservation in the days before refrigeration, taken from the Salt Flats located just south east of the highest peak in the Gaudalupes. And of course, they did 'mine' bat poop out of Carlsbad Caverns for awhile when bat guano was used as a valuable fertilizer. Just remembered the remains of a small old pit mine for copper in the foothills. And of course today they mine potash in the nearby desert area.
There are also tales of hidden loot from stage coach robberies being tucked away somewhere back in those canyons. Some of those stage coach tales have been tied to theories about the source of Sublett's discovery. What the truth is, I do not know. You can still see the remains of an old (Butterfield?) stage stop at the foot of the Guadalupes. (That's the area canyons I 'searched' for Sublett's stash.)
There are many old Native camps throughout the area, which is what I mainly did up there; 'looking for arrow heads' and caving when younger. There are also a couple of old 1800's Army camps in there, supposedly used by the Buffalo Soldiers.
It's an interesting area, lots of history, but gold? Never heard of a single nugget coming out of there in my life time. But then I don't get around much.
At the risk of saying (revealing) too much, if you like history, google the stories about the 'Salt Flat Wars'. An amazing true story that involved the only time the Texas Rangers have ever surrendered, the shifting of the Rio Grande during a flood which changed the nationalities of a town's inhabitants, the involvement of corrupt State politicians, the beheading of prisoners, the disposal of bodies in a well, the rescue of the Rangers by the Buffalo Soldiers, the rampaging (and raping) by a vigilante army of New Mexicans (deputies?), and more!
I wrote Robert Redford years ago trying to interest him in making a movie about the Salt Flat Wars, ...never heard a word back from him. And here I thought we were buds after I'd watched 'Jeremiah Johnson' so many, many times.
[Forgot to mention, I was once chased out of there by a tornado that dropped down in front of me as a thunderstorm crossed over the peaks of the Guadalupe. True story. (Now I know I've reveled too much, sorry.)]