Summarized from a few sources:
“The native stories about the curative spring were related to the mythical land of Bimini or Beniny (hence Bimini), a land of wealth and prosperity. The spring was purportedly located on an island called Boinca. Although subsequent interpretations suggested the land was located in the vicinity of the Bahamas, the natives were referring to a location in the Gulf of Honduras. The islands of Bimini in the Bahamas were known as La Vieja during the Ponce expedition. According to legend, the Spanish heard of Bimini from the Arawaks in Hispaniola, Cuba, and Puerto Rico. Sequene, an Arawak chief from Cuba, had purportedly been unable to resist the lure of Bimini and its restorative fountain. He gathered a troupe of adventurers and sailed north, never to return. Word spread among Sequene’s more optimistic tribesmen that he and his followers had located the Fountain of Youth and were living in luxury in Bimini. Bimini and its curative waters were widespread subjects in the Caribbean.”
More information here.
Myths and Misconceptions in downloadable pdf here.
