Ojeda set sail from Spain in January 1502 and he followed the same route as his first voyage. On this occasion, he kept his distance from the Gulf of Paria and made landfall on Margarita Island where, according to some sources, he tried to obtain gold and pearls from the indigenous people using several different methods. He sailed along the coast of Venezuela from Curiana to the Paraguaná Peninsula. On 3 May 1502, he founded a colony on the Guajira Peninsula, at Bahia Honda. The colony was called "Santa Cruz" and it was the first Spanish settlement on Colombian territory and therefore the first on the American mainland.