Coeur d’Alene-based New Jersey Mining Co. soon will begin excavating more territory near its Golden Chest Mine in North Idaho, says the company’s president.

“It’s an additional couple-hundred acres,” New Jersey Mining President John Swallow says.

“We’re talking about an underground mine on the left side of the highway if you’re headed east out of Murray (Idaho). It’s not a big, gaping hole in the ground,” Swallow says.

In September, New Jersey Mining bought out minority shareholders in GF&H, a private company that held 375 acres of patented mining claims near Murray.

With the underground development already in place and an operational mill already there, Swallow says the value of New Jersey Mining’s exploration dollars will be leveraged toward extending the life of the mine and future cash flow.

The drill-tested areas, called Paymaster and Joe Dandy, are the company’s top exploration priority for 2017. The ore shoots are located in relatively flat terrain, which is favorable for drilling because the lack of relief, or surface irregularities, makes target depths shorter, Swallow says.

“The location and impressive grades of the Paymaster and Joe Dandy shoots make them logical areas for us to consider beyond our currently defined resources and planned production,” Swallow says.

New Jersey Mining, with a total of 15 employees, also acquired 50 percent ownership of the Butte Highlands Joint Venture, a mine located south of Butte, Mont., earlier this year.