Verb -- Any sexual situation in which you "have to dig." i.e., if she is a virgin (and you have to "hollow that shit out"), or if you are engaging in anal intercourse and the girl has a tight ass.
"I heard she was a virgin."
"Yeah dude, I was excavating for days. I hollowed that shit out tho."
Jim got all horned up on mic ultras this weekend and wanted to perform anal sex on his girlfriend. Being prepared, Jim had to call in Tom's anal excavation service to clear the path through the woods in order for Jim to go pound his big block Chevy in the mud hole