A drilling system includes a roller cone drill bit having a roller cone and at least one antenna loop disposed in the roller cone for detecting magnetic or electromagnetic waves indicative of a target, a resistivity, or a boundary of the subterranean formation, man-made structure, or object. The drilling system may utilize the antenna loop to determine resistivity measurements of a subterranean formation through which the drill bit is being drilled. The location of the antenna in the roller cone may enable increased look-ahead and look-around measurements. In addition, the location of the antenna in the roller cone may facilitate anisotropic resistivity measurements to aid in steering the drill string into a desired portion of the subterranean formation.