A follow-up investigation resulted in charges being laid against two of the capital's residents.
Francois Stephane Gauthier, 28, and Jonathan Kaiser, 24, have both been charged with conspiracy to traffic a controlled substance.
The two men are to remain in Iqaluit and report to RCMP once a week until the matter is dealt with. They will appear in court on July 7.
The drugs seized have a street value of about $10,000.