You've certainly set the cat amongst the pidgeons. It's getting right leary in here. So a search topic for you: How do barn owls locate prey just by listening?
Once you've done a search on that relevant subject: Spatial hearing (a collection of files to enjoy)
Acoustic Holography (A bit of engineering)
Now some more subjects for you to type into the search engine of your choice:
Psychoacoustics Cochlear nuclei Neural action potentials. Auditory masking Missing fundamental Hypersonic effect Diana Deutsch Dr. Daniel J. Levitin Sound localization by the human auditory system Lateral information Interaural time differences Phase delays Group delays Parallel processing pathways in the brain Axons of the auditory nerve
I'll check back in a week or so. PS. Ever heard of Q-Sound?