Are you talking about "Dowsing"? There is a guy on the board, MUSTAAG, that swears by it. Maybe do a search for his posts. I'm not nearly a believer in this technique. He also uses LRL's (long range locators), which many consider a form of "electronic dowsing", and he told me that he once found a gold ring in the water from a distance of about 1 mile or so using the LRL. He is a straight-up guy and never came across as a weirdo or anything like that to me.
If you have the time, money, and open mind then I guess this would be worth looking into. It's just not convincing enough for me personally.
Pcola