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I drawn many years ago. Evident, oscillator is in search coil, because this circuit just is in small box, but no the oscillator. I remember that this small coil MD was capable for to detect wire fraction of resistor and small iron in rock and all the metals, but isn't discriminative but very sensitive.
I have redrawn the schematic for you tested the 4066 section works fine might use it as the bases for a pinpointer circuit small error noticed 2k2 from regulator should go to 9v side
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