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Absolutely it's possible. Not necessarily easy, but possible. I have part of an OpenCV module that does just this HERE. Before it's done it should do more, but for now it just calculates position from several observations.
I think it's fairly well commented, but if you have any questions, just ask.
Since I forgot to put it in the README, the paper this algorithm is based off of is the "Selective angle measurements for a 3D-AOA instrumental variable TMA algorithm". It's not the only algorithm that does this, but it's pretty good, and very fast.
