Excalibur is MLs only waterproof detector.
The VLF All Metal mode will work well salt and mild iron mineralisation.
The Disc mode is unreliable in gold field conditions.
I have used a Sovereign XS with some success in the gold fields. The Sov is a non waterproof version of the Excalibur.
If you want a great waterproof gold machine, that will operate anywhere, check out the Garrett Infinium.
If you do not intend to submerge the control boxes then most good qual VLF gold machines have waterproof coils that can be used to good advantage in streams.
If you can find an old Gold Spear, this unit is great for locating black sand and fine gold deposits in stream banks and river beds where the probe can be pushed down beneath rocks and into the sandy areas; This gadget does not work well in hard ground..
Adrian SS