Diligent Geologist: Does it find treasure when no deposit is found?

When you search with Diligent Geo for a particular deposit there are 3 results that can happen:
1. It finds the deposit and it is 50% larger
2. It finds the deposit and it's NOT 50% larger
3. There are no deposits available

There's also a chance to find 2 "great treasures".

Under which of the 3 results above can you find the treasures?
Any 3 of them (where the treasures are independent of finding or not finding a deposit)
OR only 1 and 2 in which you find a deposit?
OR only 1 in which you find a larger deposit?

His bonus does not work at all with stone or copper and you will not get any treasure if there are no deposits available to be found.

But he always gives 50% larger deposits with every other deposit type (marble, iron, coal, etc..). As for the treasure, each deposit type has a difference chance to get treasure:

marble 25%
iron 35%
coal 50%
gold 50%

copper and stone are 0%

So the chance to get treasure is the SAME as the chance to get a larger deposit?

If this is true, searching continuously for Marble gives the most chances to get treasure over time.

Searching Marble every 3 hours for a week is 56 deposits with a 25% chances to get treasure.
14 on average.
Searching Iron every 6 hours for a week is 28 deposits with a 35% chance to get treasure.
9.8 on average.
Searching Coal/Gold every 24 hours for a week is 7 deposits with a 50% chance to get treasure.
3.5 on average.
Searching for Titanium/Saltpeter/Granite every 48 hours for a week is 3.5 deposits with a 75% chance to get treasure.
2.62 on average.

I believe you always get the bigger deposit, regardless if you get the treasure or not (except stone and copper). And yes, marble is the most benefit per time.

Has anyone noticed we aren't getting as many battle buffs as we originally did with these? I started keeping screenshots of what I am getting and will keep them for a week and post here but for weeks I almost never received any of the large cats or weak point. When I do get a battlebuff is it usually choc arrows.

This is what I had been getting back in September from these and although just covered 2 days was typically of what I was getting all the time.

https://imgur.com/a/Wxg5kcD

and this is what I am getting now. And I notice just because I said I wasn't receiving any weak point now I got a couple - still no large cats or ranged support though and a lot less battle buffs overall

https://imgur.com/a/ARjRJwr

Two Marble in One
1/3 – 8% chance to discover two Marble deposits at once.
2/3 – 16% chance to discover two Marble deposits at once.
3/3 – 24% chance to discover two Marble deposits at once.

Natural Marble Vein (from 23 level)
1/3 – grants a possibility to discover bigger about 8% Marble deposits.
2/3 – grants a possibility to discover bigger about 16% Marble deposits.
3/3 – grants a possibility to discover bigger about 24% Marble deposits.

Needs 6 times as long for more searches, but has a chance to find two great treasures along the way.

A few things.
When a deposit is found, it is 50% bigger. Stone and copper, count for nothing on this guy.
He doesn't find treasure, he doesn't make them bigger.
As much as an exploit as it is to find marble within 3 hour searches for 25% treasure. Imagine being able to send out every hour, it's too much.

The other variable is "% treasure find". which increase chance to find as you invest more time in your search.
But it does not in any way affect the loot quality.
Scared is the first and only unit that affects loot quality per time invested. That is a new mechanic to Halloween 2020, and may be implemented in new units.

Geo works on ticket raffle system.
Where all entries have the same % chance to be pulled, and the same # of tickets. If any 1 or few tiems were to have it's ticket # adjusted, it would shift the entire balance of even distributed chance.

There are 39 items to be drawn from.
100/39=2.56
Each item has 1 ticket. 2 draws per deposit find.
What I want to know.
What if I find 2 deposits?
Do I have 25% treasure find applied to each? Can I find treasure on one and not the other? Can he find treasure on both and bring back 4?
I've been trying, have not confirmed it.
At best I have sent out 4 dili, and come back with 4 treasure.
Okay, well maybe for all I know, I found 5 or 6 deposits but only got treasure from 4. Getting 4 treasure does not mean I found only 4 deposits.
How does that work? the world may never know.

It kind of has to be that high. there need to be some booby prizes in the loot pool to prevent it from being entirely overpowered.
By my estimation 17 of the available items are of high rarity and of value to drop.
That is still a near 50% of the loot. What more do you want?
When scared takes a full 7 day's to do a prolonged search and comes back with just any depo, am I happy? God no.
But diligent sent out over and again over that same week, will come back with a few tokens, a couple gems, a few buffs worth 1200 star coin.
It's alright.
It is a consistent varying slow trickle of high value.

Stick to the diligent geo. Have faith in him. Grind it out as much as you can.