The original Gold Mine at Lea Bailey was established in 1906 and was unsuccessful. While there are small quantities of gold present in the area, it seems unlikely that they are economically exploitable. However, there is a small adit on site which was used later to extract ironstone from the same source as earlier mines in the Wigpool area higher up the hill. Running nearly 600 yards into the hillside it has suffered some rock falls. It is said that a narrow gauge railway was built to the mine from Mitcheldean Road but like its standard gauge predecessor never used. The Euroclydon tunnel has also been considered as a base for further exploration.
Some time ago the Wrights who operate the tourist attraction at Clearwell Caves sought to establish a new attraction here and brought a significant amount of materials and rolling stock (the latter almost 100% ex-National Coal Board in origin). However, it was eventually aborted and the better stock removed to Clearwell.