I haven't seen anything like that in solid state games.
Maybe an EM era assembly? Because of the type of plastic used and the fiber board included in the assembly, I'd guess it was made somewhere between the late 1960s to mid-1970s.
The E clip as a plunger stop and the miniature coil (to drop the target) are odd.
Maybe it's not even a pinball assembly--could it be for a rifle game or something? Does the target only drop if it's released by the secondary coil? Or can it also drop if it is physically hit?