Mr Schuler was last seen around 10.30am while prospecting in the vicinity of the Palmer River near Palmerville Station.
Police and emergency services from Cairns and the Cooktown area have commenced a land and air search of the area where Mr Schuler was last seen.
Police have released the image of Mr Schuler which was taken sometime ago. His appearance is expected to have changed since this photo was taken.
Police are asking anyone with any information about the whereabouts Mr Schuler to contact Crime Stoppers.
Listen to Inspector Peter Mansfield discuss the case:
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Anyone with information which could assist police with their investigations should contact Crime Stoppers anonymously via 1800 333 000 or www.crimestoppers.com.au 24hrs a day.
Crime Stoppers is a charitable community volunteer organisation working in partnership with the Queensland Police Service.