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It's probably quite a simple probe, I imagine it's an axial leaded inductor, probably less than 220 microhenry. I built a cheap version myself last year, and wondered if I could sell them. I did some research and found it was already available.
Mine was based loosely on the EPE magazine (Scarborough) BFO mini-pinpointer project, with a 220 uH inductor approx 2mm diameter, 5mm long. It worked OK, it needed to be within 5mm of the target to signal. I was going to have a 125mm long probe on mine, with the electronics in the 'handle', making it compact. And mine cost a lot less than 400 dollars!
This unit was made by James Ott. He put a lot of time, money and effort into the finished product. Well engineered the probe tip was diamond I believe. It was pulse induction and had a special ferrite core inductor with the ends ground to 45 degree angles. This allowed the user to rotate the probe to give an indication of direction "Periscope". It had some ferrous/ non ferrous discrimination. Don't know how effective? Unfortunately he passed away a few years after it hit the market. see attached patent for details.
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