I just noticed it's supposed to be an eagle's beak. One of the eagles eyes is just above your shovel handle. The other is a piccaso like and at the connection of the beak. It says go this way/follow the beak/look where the beak is pointing, or look to the right of the beak for a trail or something that goes up the hill.
edit : it also says look right under that beak's tip for something, it may even mean to stand right there under the beak and look for something from that spot. I don't have enough info to say which one it is.
Most sign type things are giving you or telling you about a place to stand and look from, whether it be a positional place where you see something only from one position or angle, or a place where there are some peephole or peepsite type notch things to look thru or site down. That's why most are never figured out, they look for a spot to dig right at the place they were supposed to look somewhere else. Signs don't usually give the dig spot, they give a place to sight over to them or show the markers that go to them.