The vehicle operated by two workers as they fell down a Queensland mine has been discovered, as a desperate search continues for the men.

Searchers worked through the night looking for the two mining contractors, who have been missing since an underground zinc mine collapse in northern Queensland since Wednesday morning.

On Thursday it was announced searchers had found a light vehicle the workers were believed to have been driving when the collapse occurred at Dugald River Mine, near Cloncurry.

The collapse, which happened about 125 metres below the surface, involved a light vehicle and a drill rig falling into a void at the mine, operated by MMG.

The operator of the drilling rig was able to escape and is reportedly in a stable condition.

Perenti, parent company of the miners’ employer Barminco, said on Thursday that specialists using drones, void-scanning technology and video imagery had located the light vehicle, and rescue teams were using heavy underground mining equipment to access the location.

Perenti managing director Mark Norwell said the rescue operation would be executed as quickly and safely as possible.

“While the situation is still evolving, we are in contact with the family members of our missing team members and Perenti is providing support to their colleagues and rescue team,” he said.

MMG suspended work at the mine, which employs about 500 people, after the incident.

Inspectors from Resources Safety Queensland have been at the site assisting emergency responders.

Local state MP Robbie Katter said on Wednesday the event was “obviously the worst nightmare” for a mining community and there was a lot of anxiety about the situation.

“We know emergency services are on the ground and we are praying for a good outcome,” he said.

-with AAP