It is a potentiometer but used as a on/off as far as I know.Another question:
Is that pot/switch actually a potentiometer (with a switch)? I see the 3 solder tabs. Unless they are there just for stability when soldered. I also see the bar to limit the rotation.
Fairly crazy, Minelab still treats a diagram print out of the excalibur or sovereign as top secret stuff after 30 years. I.ve never seen or heard of any.Or you could get a electrical print of your machine and trace it out yourself
I used a toggle for years (SPST), which allowed the excal to be used in either discriminate or all metal. Which I found I rarely hunt in Disc mode so I went to the momentary push button in 2017 and found I liked it better. Problem I have now is finding a longer lasting (SPST) ON (OFF) push button, luck if I get two years out of them. Just started using this one, see how long it last. Switchcraft Inc. / 913DSI haven't opened up my machine yet. Still designing the components for 3d printing.
I like the Fisher style of grips used in their water machine pole systems.
My 'theoried' design will incorporate a SPDT switch to work with the existing ON/OFF switch to allow the machine to run normally in either Disc or PP, and the switch will switch to PP or Disc.
Images and instruction should follow as I progress.