As part of the program, the company will cover around 2,000m of diamond drilling in 10 holes and will focus on Western Extension area, which is said to host known mineralization.
The company is also looking to identify the limits of the northern, down dip, extension of the deposit and the possibility for future expansion of the mine in the down dip area.
It will also evaluate if the surface ground immediately north of the Pine Cove pit can be utilized as waste rock storage.
The drilling is designed to increase near surface mineral resources at the mine that are in the vicinity of the current ultimate pit design.
Anaconda Mining president and CEO Dustin Angelo said: "Based on our analysis, we are optimistic that there are additional resources that can be incorporated into the Pine Cove pit design that will extend the life of mine and reduce the average stripping ratio for the remainder of the open pit life.
"The results of this programme will enable us to maximise the economic potential of the Pine Cove resource, as well as determine if there is an opportunity for future mine development."
Anaconda plans to calculate new mineral reserve and resource estimates for the deposit after the drilling program is completed in February 2015.
Image:3D view of the ultimate Pine Cove pit. Photo: courtesy of Anaconda Mining Inc.
