In this study, for the purpose of accurately detecting fissured disaster sources and diversion channels during tunnel construction, an array source transient electromagnetic device is proposed. Then, an apparent resistance conversion method and an approximate inversion algorithm for the proposed transient electromagnetic device are presented. First, a finite-difference time-domain (FDTD) method is used for the forward modeling of the proposed array source transient electromagnetic device, and the electromagnetic responses of the cracks and water-conducting channels are obtained. When compared with the transient electromagnetic square responses of the traditional loop sources, it is found that the data confirmed that the responses to the anomalies of the proposed array source transient electromagnetic device are more apparent. Then, the transformation from the array source transient electromagnetic field to the apparent resistivity is realized according to the principle of inverse function. In order to clearly identify the boundaries of the targeted anomalous bodies, a multi-source S-inversion algorithm is used to realize the array source transient electromagnetic differential imaging. The method is validated using a theoretical model. It was determined that the results of the differential imaging had effectively identified the boundaries of the anomalous bodies, and the apparent resistivity imaging had successfully determined the resistivity distributions of the anomalous bodies. Furthermore, a combination of the aforementioned methods is used to effectively identify the faults and water-flowing fractures in the model. This study's proposed algorithm was applied to the actually measured data, and the interpretation results were found to be consistent with the excavation results, which fully demonstrated the feasibility of the proposed method.