Magnetic methods are based on measuring the magnetic fields caused by varying concentrations of ferromagnetic materials to identify their locations in geological formations. This method relies on the fact that the earth's magnetic field is present throughout its bulk and its average value is mostly unchanged for a large part of its surface. This is mostly correct.
Its limitations are the depth of the source is unidentifiable,as are collective effects from other sources. The earths magnetic field changes in both magnitude and angle w.r.t it surface as we move towards the poles. There can also be a cancelling effect from opposite induced poles in small bodies giving false negatives.
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