An Indian mining firm has unveiled promising exploration results suggesting that India could soon boast its first platinum mine.

Deccan Gold Mines Ltd has discovered reserves with 4 grams of platinum per tonne of the rock across a 3.5 kilometre stretch in the southern state of Karnataka.

Chairman Charles Devenish told Reuters that the company plans to start drilling in October once the Monsoon season ends.

"These are very exciting early days of the project… It will take two and a half to three years to get the mine started," he added.

Exploration work for platinum, zinc, nickel and gold is also occurring at around 40 locations across the country.