Thanks Zincoln. . A few years ago I might have walked away from that signal. My pin-pointer found the clasp which was at least a couple inches from the detector's center of the target. If it was much deeper I would not have located it with the pointer, and might have damaged it while digging it out by using my hori hori to open a horseshoe across the bracelet. Glad that didn't happen.
The EQ finds pretty tiny items with the 11 in. coil. It may not recognize thin gold/silver as a good target but it loves little copper rivets. I have not found any small chains, perhaps because it doesn't see them. Maybe my wife will let me borrow some of hers to "experiment" with?.. Maybe if I promise not to bury them.

I will report back on results that I get.