Lake Wanapitei, located within the Southern Province of Ontario, Canada, provides the setting for a unique study of an impact crater situated within a shield environment. Evidence for the 7.5-km-diameter Wanapitei impact includes a circular Bouguer gravity low centered over the central area of the lake and features of shock metamorphism in samples of glacial drift found on the southern shores. Geophysical studies of craters in hard-rock environments are often limited by the lack of markers used for exploration; this may be overcome with the use of the large igneous dike swarms that characterize Archean terrains. The 1.2 Ga Sudbury dike swarm predates the impact that is suggested to have generated Lake Wanapitei and provides the setting for a study to constrain the size and location of the impact crater. The swarm is clearly visible on aeromagnetic maps as high amplitude, linear features, suggesting they could be used as vertical markers indicative of structural changes having an effect on target rock susceptibilities. To fully establish the size of the crater, a total field magnetic map was produced to trace the Sudbury dikes through the proposed crater center. A gap in their signature, expressed as a 100 nT low, 2-3 km in width, constrains the size of the crater to <5 km. Numerical modeling suggests that a crater of this size will demagnetize target rocks, producing a low in the total magnetic field, up to a maximum diameter of 3 km. Dikes within the central crater structure will be excavated, vaporized, and melted down to a depth of 1.3 km.