Silver Peak is one of the oldest mining areas in Nevada. A 10 stamp mill was built in 1865 and by 1867 a 20 stamp mill was built. Mining camp lawlessness prevailed during the late sixties, and over the next 38 years, Silver Peak had its ups and downs. In 1906 the Pittsburg Silver Peak Gold Mining Company bought a group of properties, constructed the Silver Peak Railroad and built a 100 stamp mill at Blair the following year.

The town, at times, was one of the leading camps in Nevada, but by 1917 it had all but disappeared. The town burned in 1948 and little happened until the Foote Mineral Company began its extraction of lithium from under the floor of Clayton Valley.