Attempts by Raiders chief executive officer Don Furner to make contact with Ferguson on Tuesday and Wednesday were unsuccessful, with the NSW Origin star a no-show at training.
"We have been left with little choice but to stand Blake down from all playing and training duties, until we find out both why he has missed scheduled training commitments and why he has been drinking whilst injured, which is a clear breach of the club's rules," Furner said in a statement put out by the club.
"Blake will be given the opportunity to explain his actions, and following that he may also be required to front the board to show cause."
A date for the proposed board meeting has not yet been determined.
Ferguson's future with the Raiders was placed in doubt last week following the sacking of coach David Furner, a move which triggered the option for a release in Ferguson's contract with the club.