Just saw this new A to D converter from TI. Looks like it may be able to directly sample the output of a (two stage) preamp. It has 100dB of signal to noise ratio and consumes only 15mW. This combined with one the new low power DSPs TI have introduced could make a super software define metal detector.
http://www.ti.com/product/ADS9110/da...sl-ds-null-wwe
http://www.ti.com/product/ADS9110/da...sl-ds-null-wwe