Good afternoon,

Oil sands production[edit]

Commercial production of oil from the Athabasca oil sands began in 1967, when Great Canadian Oil Sands Limited (then a subsidiary of Sun Oil Company but now incorporated into an independent company known as Suncor Energy) opened its first mine, producing 30,000 barrels per day (4,800 m3/d) of synthetic crude oil.[14] Development was inhibited by declining world oil prices, and the second mine, operated by the Syncrude consortium, did not begin operating until 1978, after the 1973 oil crisis sparked investor interest.

http://en.wikipedia.org/wiki/Athabasca_oil_sands

Ring's Potential 'Astounding'

“The Ring of Fire is a truly extraordinary mineral discovery due to the various types of deposits. Similar deposits, elsewhere in Canada and around the world have yielded billions of dollars of metallic metals,” Franklin said. “Due to roughly eight smaller VMS-type deposits that hold copper, zinc and silver, which have not been thoroughly drilled-off, the Ring of Fire could ultimately produce between $30 billion to $50 billion worth of these metals and perhaps another Kidd Creek ore body, which has been in operation since the mid-1960s in Timmins.”

He very conservatively estimates an additional $7.5 billion to $12.5 billion worth of nickel, copper, PGE values in the Ring alone and while no one is currently looking for gold, feels that due to the favourable geology, at least $10 billion worth of the precious metal is yet to be found. In the adjacent greenstone belts — prime gold bearing geology — to the west of the Ring of Fire, Franklin is exceptionally optimistic and feels an additional $140 billion to $190 billion worth of the precious metal will eventually be discovered.

These financial projections are on top of the currently accepted Ministry of Northern Development and Mines valuations of $50 billion for chromite and $10 billion for Noront Resources’ nickel, copper, PGE mine!

“These are only conservative estimates,” Franklin said, “and the provincial government should spend at least $50 million over the next few years on more aerial high-resolution geophysical surveys, mapping where outcrops permit and extensive on-ground geochemical and till sampling on a regional basis. Every dollar spent on geoscience results in five dollars of industry activity.”

And while he does not want to venture a guess at the value of future chromite discoveries, he believes the current chromite reserves of roughly 220 million tonnes could easily be doubled. He also indicated the chromite discoveries in the Ring of Fire are “very, very well behaved” so that initial (inferred) reserves estimates routinely move over to the (indicated and measured) categories with more infill drilling due to the enormous size and predictability of this massive deposit.

http://www.thesudburystar.com/2013/11/15/accent-rings-potential-astounding

So estimates between 250 to 300 Billion NOT counting the chrome…

Time (47 yrs. from the time the oilsands started) seems to be the only issue with comparing the oilsands to the ring of fire in the eyes of this expert…

Hebe