Tasmania Police is continuing investigations into an assault that occurred at an address in Glenorchy on Wednesday evening.

Police have established that there was an altercation between several males at the address, during which time one of those males sustained a non-life-threatening knife wound. It is understood that a firearm was discharged inside the home during the altercation.

The parties are believed to be known to one another and police are following a specific line of inquiry.

Extensive searches have occurred across the greater Hobart area and a quantity of firearms and drugs have been recovered.

There is no threat to the community.

Any information regarding the incident can be reported to Glenorchy CIB on 131444

or Crime Stoppers on 1800 333 000 or crimestopperstas.com.au