Here on UO Eventine, we have a custom metal detecting system. While treasure hunting you may come across a "Metal Detector".
If you double-click this item, it will bring up a small location Gump, letting you know which facet and generic location to begin searching. Make sure you bring a Metal Detecting Shovel (made with tinkering) with you!
When you are in the general area, make sure your sound is on - and single left-click the detector, and start detecting for metal. If you are in the correct area, the detector will emit a low whistling sound. As you get closer, the sound will get louder.
When you are on top of it, break out your shovel, and start digging!