Update, 5.30pm:
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Police have seized ice with a street value of about $115,000 in a raid at a Framlingham home on Friday.
Warrnambool police divisional response unit Senior Constable Aaron Toulmin said a search warrant was executed at a Warrumyea Road home at 7.45am.
About 192 grams of what is believed to be crystal methylamphetamine was seized as well as $8550 in cash, three mature cannabis plants, two imitation firearms and ammunition.
Glass pipes, and other drug paraphernalia were located in the lounge room of the property.
Police also found children's play equipment nearby.
Senior Constable Toulmin said Warrnambool divisional tasking unit officers, uniform police members and crime investigation unit detectives were involved in the raid.
"It was a very pleasing result to be able to seize those drugs and have them out of circulation," he said.
"It's one of the largest seizures of methamphetamine in this area."
Billy McGuiness, 30, of Warrumyea Road, was arrested and charged with drug and weapon offences. He successfully applied for bail in the Warrnambool Magistrates Court late Friday afternoon. He was listed to appear in court earlier that day for charges of unlawful assault and possessing methylamphetamine.
Magistrate Franz Holzer said it was unlikely Mr McGuiness' matters would attract a jail sentence and that remanding him in custody would deny him of his liberty. Mr McGuiness was bailed to appear back in court on March 29.
Zachary Miller, 23, of Warrumyea Road, was charged with trafficking a commercial quantity of methylamphetamine, possessing a drug of dependence, possessing a firearm as a prohibited person and dealing with proceeds of crime.
He did not apply for bail and was remanded in custody until May 31.
Police allegedly located 0.3 grams of ice, a tazer and three mobile phones in Mr Miller's bedroom.
A search of his Ford Falcon revealed the large quantity of ice, two 0.22 caliber bullets, 16 Ritalin tablets, a pinfire pistol, digital scales and other drug paraphernalia.
Western region division two investigation and response manager Detective Senior Sergeant David Reither said police were working hard to "create a hostile environment for those who choose to pedal this heinous drug".
"We have revamped our processes with a strong focus on those who continue to commit crime within this region," he said.
"We will act on any community information received and you will be caught."
Earlier, 12pm:
Police have seized ice with a street value of about $115,000 in a raid at a Framlingham home this morning.
Warrnambool police divisional response unit Senior Constable Aaron Toulmin said a search warrant was executed at a Warrumyea Road home at 7.45am.
About 192 grams of what is believed to be crystal methylamphetamine was seized as well as $8550 in cash, three mature cannabis plants, two imitation firearms and ammunition.
"Two men aged 23 and 31 years old were arrested. One has been interviewed and the other is currently pending interview," Senior Constable Toulmin said.
"They are expected to be charged with a range of offences including trafficking a commercial quantity of methamphetamine.
"They will appear in the Warrnambool Magistrates Court this afternoon for a bail/remand hearing."
Senior Constable Toulmin said Warrnambool divisional tasking unit officers, uniform police members and detectives from the crime investigation unit were involved in the raid.
"It was a very pleasing result to be able to seize those drugs and have them out of circulation," he said.
"It's one of the largest seizures of methamphetamine in this area."
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