Two foreign nationals have faced court charged with attempting to smuggle more than a tonne of cocaine and ecstasy into Western Australia after their yacht hit a reef and ran aground in the Abrolhos Islands off the Mid West coast.

Key points: The men allegedly hid on a nearby island after abandoning their yacht

The men allegedly hid on a nearby island after abandoning their yacht Police say they tried to conceal the drugs by covering them with seaweed

Police say they tried to conceal the drugs by covering them with seaweed The French and British nationals have appeared briefly in a Geraldton court

Police said the drugs, totalling more than 1,000 kilograms, were found packed in 40 bags, and had an estimated street value of more than $1 billion.

It is alleged the men — a 51-year-old French national and a 34-year-old English man — were sailing on the yacht when it ran aground on Monday in the Houtman Abrolhos off Geraldton.

A sea and air search was launched following the discovery of the abandoned yacht, and police have alleged the men were found hiding on nearby Burton Island after ferrying the drugs there on another smaller vessel.

WA Police Commissioner Chris Dawson said the men had tried to hide the bags containing the "significant quantity" of drugs by covering them with seaweed.

He said forensic officers were still assessing the haul, but it included a "significant quantity" of cocaine, ecstasy and possibly also methamphetamine.

Police say the men tried to hide the drug bags by covering them with seaweed. ( Supplied: WA Police )

The men and the drugs were allegedly discovered on Burton Island. ( Supplied: WA Police )

"We estimate it is in excess of one tonne and does include cocaine, MDMA or ecstasy, and we also believe there's methylamphetamine," he said.

He said the investigation had only just started and included WA Police and the Australian Federal Police along with other agencies, including the US the Drug Enforcement Administration and the National Crime Agency of Britain.

Rescue operation turns into seizure

Commissioner Dawson said when the yacht, named "Zero", was discovered on a reef, it initially sparked a rescue operation.

The men are accused of ferrying the drugs off the yacht using a smaller vessel. ( Supplied: WA Police )

"The sea search and rescue phase continued until we spotted a couple of men on a nearby island with a small tender," he said.

"When those persons were under observation, they tried to conceal both the drugs and themselves and then it escalated, of course, into an investigation.

"I think the people who stand accused are probably going to have a story to tell as to how it got upon the reef.

"I doubt whether it was planned."

Police were on Wednesday night seen unloading items from a vessel into a removal van at the Geraldton Fishermen's Wharf.

Police moved items from a vessel into a removal van at the Geraldton Fishermen's Wharf. ( ABC Midwest and Wheatbelt: Laura Meachim )

The yacht was towed into the wharf on Thursday morning, where forensics were examining the vessel.

Men appear in Geraldton court

Antoine Dicenta and Graham Kurt Palmer have been charged with one count of importing a commercial quantity of a border controlled drug.

The French and British nationals made a brief appearance in Geraldton Magistrates Court on Thursday morning.

The yacht, named "Zero", was brought to Geraldton after it was abandoned on the reef. ( ABC Midwest and Wheatbelt: Laura Meachim )

They were both remanded in custody and will appear in court in Perth on September 20.

Commissioner Dawson said community members in the Abrolhos Islands alerted police when the yacht was spotted.

"I've got to commend the members of the community … they were of great assistance to police," he said.

Drug seizure 'colossal': Minister

Police Minister Michelle Roberts described it as a "colossal" drug haul.

Police chief Chris Dawson and Police Minister Michelle Roberts welcomed the seizure. ( ABC News: Evan Morgan Grahame )

"This amounts to hundreds of thousands, or more, shots of misery," she said.

"We don't know the ultimate destination of these drugs. You'd have to expect some of them would have made their way into the West Australian community if they weren't intercepted.

"I suspect though that much of the haul was destined for the east coast and right round Australia.

Ms Roberts said drugs were driving other crimes in the community, including assaults, and they were "ripping families apart" by changing peoples' behaviour.