Australia is set to become the latest country to commission a crowdsourcing campaign to help locate a potential treasure trove of mineral riches.

The Tasmanian Government wants people to help map the explorer's chalk-dusted footprint at Split Rock, near Launceston in east-coast Tasmania.

The finder of the chalk will earn a reward of $5000, while $1000 will go to anyone with an accurate measurement.

Blacksmith Andrew Grubb led an expedition to the volcanic granite ledge in 2012, believing it contained a gold-plated stick dating back to the 1970s.

"We'd hear those short creaky rumbles. We just thought it was part of the landscape around here, we didn't think anything of it," he said.

That was until Mr Grubb took digital photographs of the relic, which amazed even the experienced finder.

"It's a 14 kilogram, brass, gold-plated copper stick. It has no bells on it, it just looks like a bright copper stick," he said.

But the lucky finder won't get a huge payday.

"The only way you're going to make money out of it would be if you were successful, so if you don't find anything I don't think you'll have any money. If you find something I think we could make some money," Mr Grubb said.

The new funding is part of the Tasmanian Government's $500,000 contribution to tourism and economic growth strategy announced in the state budget.

Minister for Tourism, Sport and Major Events Luke Martin believes it could raise awareness of Tasmania as a destination.

"I think it shows there's lots to find in Tasmania and the fact that we're asking the community to take this initiative just reaffirms that," he said.