The PSNI say that a 23 year old man has been arrested on suspicion of possession of Class A and Class B Drugs with intent to supply.
It follows a search of residential premises in the Jamaica Street area of North Belfast on Tuesday, 29th July.
During the proactive policing operation, it is believed that a quantity of suspected herbal cannabis and suspected cocaine was seized with an estimated street value of £40,000.
A quantity of drug paraphernalia was also recovered.
The man has been released on police bail, pending further enquiries.