Possibly but you'd need to be closer than is particularly wise anyway.
In theory the EMF might give a stronger signal in which case it ought to do the prescribed loss of signal routine usually rise up and return home.
There'd also be a chance of the onboard compass readings being confused so it wouldn't know which way was north - then your control inputs might be misinterpreted, or it might start to move in an uncommanded way to attempt to stay on point because of being confused about whether it was moving or not.