A 24-year-old man has been arrested following a Thunder Bay police search of a north-side residence that saw the seizure of cash, drugs and a loaded handgun.

The raid Wednesday at St. Patricks Square netted a 9-mm Ruger, with bullets in the magazine, hundreds of rounds of ammunition, oxycodone, cocaine and marijuana worth $180,000, as well as $29,000 in cash.

The suspect was arrested later at a local coffee shop, and charged with drug- and weapons-related offences.

Police said the gun was reported stolen six years ago and estimated the street value of the weapon and ammunition to be $25,000.

The arrest stemmed from an investigation that began in early 2012 involving two men from Ottawa who were believed to be trafficking cocaine and oxycodone in Thunder Bay.

One man has already been arrested in Quebec on weapons and illegal drug charges and the second man, who had taken up residence in Thunder Bay, was arrested Wednesday. He was remanded into custody and will appear in Thunder Bay court on June 24.