I have made 2 versions, one with active piezo and another with a tone generator. The passive piezo is taken from my PC
and it's driven with a CD4060+64kHz quartz oscillator generating 1kHz square wave for the BC547 transistor and that drives the piezo. The detection distance is about 4 centimeters for each circuit.It is a very coil tolerant pinpointer, works with many ranges but with different sensibilities.
Here are my files and videos

https://youtu.be/wYtqIjXI6eI Original schematic.
https://youtu.be/OrosRtwkOho With the tone gerenator.
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