Mr Haigh disappeared while on a fishing trip off the Gold Coast. Picture: NewsWire / Sarah Marshall

An inactive safety device has been located amid the ongoing search for missing fisherman Ashley Haigh.

The 44-year-old experienced game fisherman was reported missing on Thursday night after failing to return from a fishing trip off the Gold Coast.

His boat was located 46km offshore about 2am on Friday and an ongoing search for the Queensland father continued into the weekend.

Mr Haigh is an experienced fisherman. Picture: Facebook / Ash Haigh

The search continues. Picture: Facebook/ Ash Haigh

On Sunday afternoon the Queensland Police Service revealed an Emergency Position Indicating Radio Beacon registered to Mr Haigh had been located inactive about 25km off Ballina, a town in the Northern Rivers region of New South Wales, on Saturday.

“Late yesterday afternoon, 7 February, an inactive Emergency Position Indicating Radio Beacon (EPIRB) registered to the missing man was located 14 nautical miles off Ballina, however no further items or signs of life have been located,” Queensland Police said in a statement.

“The search and rescue operation has now transitioned into the recovery phase, and officers continue to be in contact with the man’s family.”

On Sunday, four vessels and an aircraft were involved in the search of a wide area between Point Danger and Yamba in NSW.

A GoFundMe set up on Sunday has raised more than $15,000 to support Mr Haigh’s family. “We are raising funds on behalf of Jess and the family to help ease their minds during this very difficult time,” organiser Amber Scherrenberg shared.

“Ash a very experienced game fisher went out on Thursday to enjoy a day on the water, with all intentions of joining his family for dinner that night.

“Unfortunately he has not come home and has not been able to be located after an exhausting search.”

Marine Rescue NSW volunteers have been searching since Thursday. Picture: Supplied.

The fundraiser described Mr Haigh as a pillar in his fishing club, an incredible dad and loving partner.

“We know that everyone who has ever come in contact with him will remember his infectious laugh, great sense of humour and have so many good times to share,” Ms Scherrenberg wrote.

“Losing Ash suddenly is unfathomable and we want Jess and the kids to not have the extra stress that comes with losing the main financial provider while they navigate this time.”

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Speaking to reporters on Friday afternoon, Acting Senior Sergeant Shannon Gray said Mr Haigh’s boat had been discovered in “generally good condition” and there was uncertainty whether a lifejacket was missing.

“I’ve spoken with his wife multiple times today – it’s a very difficult time for them,” he said.

Police continue to appeal for anyone with information to come forward.