While cleaning "the attic" a few weeks ago, I found this old project. This one uses the same circuit. It was made in 1996 or 1997. A 3 Volts lithium "coin" battery provides power up to 4 hours. The idea of this one was to get a flashing light without bulky or heavy parts. Regardless there are some LED flashers on the market, A LED with integrated circuit inside the acrylic, the cost is higher than this circuit in some cases.
🔗 External reference