Spectral analysis of a cross correlation function So it's widely known that the Cross Correlation of 2 signals helps us in figuring out the time delay in those signals by analyzing the peak of the correlation coefficient in the time domain.

For something I am working on, due to a short baseline in comparison to the wavelength of the signal in between two of my receivers, the cross correlation of the signals from my two sensors give a peak at zero which makes it hard for me to analyse them. 

Which is what brings me to my original question i.e
What if I analyse the fft of this correlation coefficient array? Will I find anything hinting towards the time delay? 

If not, is there anyway to figure out how I can find the time delay with such a short baseline (~50m) for a long wavelength (~20km) signal? 
Thanks for the help. Any little help would be appreciated.
cross-correlation would determine the time-delay. but the scale of signals' length and the delay value should be considered precisely. I mean if you have two long signal of, for say, 100sec and you are looking for a time delay in an order of 1msec, you don't need to do cross-correlation over the whole 100sec. Instead, choose a proper window time (in msec order) of two signal and then perform the cross-correlation.