Downhole tools and techniques acquire information regarding nearby conductors such as pipes, well casing, and conductive formations. At least some method embodiments provide a current flow along a drill string in a borehole. The current flow disperses into the surrounding formation and causes a secondary current flow in the nearby conductor. The magnetic field from the secondary current flow can be detected using one or more azimuthally-sensitive antennas. Direction and distance estimates may be obtainable from the azimuthally-sensitive measurements, and can be used as the basis for steering the drillstring relative to the distant conductor. Possible techniques for providing current flow in the drillstring include imposing a voltage across an insulated gap or using a toroid around the drillstring to induce the current flow.