north coast of California, claiming the area for Elizabeth as "New Albion". However, these claims were not followed up by settlements. In 1578, while Drake was away on his circumnavigation, Queen Elizabeth granted a patent for overseas exploration to his half-brother Humphrey Gilbert, and that year Gilbert sailed for the West Indies to engage in piracy and to establish a colony in North America. However, the expedition was abandoned before the Atlantic had been crossed. In 1583, Gilbert sailed to Newfoundland, where in a formal ceremony he took possession of the harbour of St John's together with all land within two hundred leagues to the north and south of it, although he left no settlers behind him. He did not survive the return journey to England. The first overseas settlements On 25 March 1584, Queen Elizabeth I (the "Virgin Queen") granted Sir Walter Raleigh a charter for the colonization of an area of North America which was to be called, in her honour, Virginia. This charter specified that Raleigh had seven years in which to establish a settlement, or else lose his right to do so. Raleigh and Elizabeth intended that the venture should provide riches from the New World and a base from which to send privateers on raids against the treasure fleets of Spain. Raleigh himself never visited North America, although he led expeditions in 1595 and 1617 to the Orinoco River basin in South America in search of the golden city of El Dorado. Instead, he sent others to found the Roanoke Colony, later known as the "Lost Colony". On 31 December 1600, Elizabeth gave a charter to the East India Company, under the name "The Governor and Company of Merchants of London Trading into the East Indies". The Company soon established its first trading post in the East Indies, at Bantam on the island of Java, and others, beginning with Surat, on the coasts of what are now India and Bangladesh. Most of the new English colonies established in North America and the West Indies, whether successfully or otherwise, were proprietary colonies with Proprietors, appointed to found and govern settlements under Royal charters granted to individuals or to joint stock companies. Early examples of these are the Virginia Company, which created the first successful English overseas settlements at Jamestown in 1607 and Bermuda, unofficially in 1609 and officially in 1612, its spin-off, the Somers Isles Company,