No. But it might be usable to detect magnetic anomalies caused by metals in the bedrock, and thus potentially be used to map subsurface features, even tunnels.

Thing is, in its present form, it could only really do that in the vicinity of Alaska. If the technique were perfected, using it for USEFUL espionage would require mounting all of that equipment on an aircraft or ship.

And, it's always possible that that particular functionality will turn out to be a dud.

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