An electromagnetic (EM) data acquisition method for a geological formation may include operating EM measurement devices to determine phase and amplitude data from the geological formation. The EM measurement devices may include at least one first EM measurement device within a borehole in the geological formation, and at least one second EM measurement device at a surface of the geological formation. The method may further include processing the phase data independent from the amplitude data to generate a geological constituent map of the geological formation, and identifying different geological constituents in the geological constituent map based upon the measured amplitude data.