When King Honsu and the Atlanteans attempted to conquer the surface world, they needed a base of operations due to the inability to travel to the sea continually, so they toured the mainland looking for the right place and found an island which they baptized as Bazilia, christened in honor of the famous warrior Bazil. They built a magnificent city whose waters sparkled in the sun. The island of Bazilia sank shortly after the atlanteans were defeated. 
Links and References
- Baltia at Wikipedia.org, also named Basilia.