I saw this article, from 1912. Here is the article from SRS Rocco Report, it basically states the mines in the Grand Canyon failed due to low grade finds, and the articles posted boasting about millions of ounces were a result of trying to attract financing to New Yorker's as the mining operations were going bankrupt. Talks about how the dredge operations were very costly which needed new investors based on inflated numbers of riches. News traveled slowly those days before investors could verify the facts. Happy reading.
https://srsroccoreport.com/the-blind-conspiracy-the-gold-market-is-heading-towards-a-big-fundamental-change/