Other than it is a pulse induction unit, I am not aware of it being used for gold prospecting. Depending on the coil and how fast you can tune the delays to, it might work.
Get some small gold samples (not rings, chains or jewelry) and give it a try.
It should work. I have seen them used with a mat coil and they covered a lot of area quickly, but you need another detector to pinpoint the target under the mat. Frank...<img src="http://www.treasurenet.com/forums/attachment.php?attachmentid=791866"/>