Prospectors in 1866 named the mining camp Palmetto because they thought local Joshua trees were related to palm trees. Although a local 12-stamp mill worked the silver ore, the town died for lack of profitable material. New discoveries in the late 1860's revived Palmetto, but meager deposits again caused its demise. New prospecting in 1903 led Palmetto to grow to a town of 200 tents on a platted town site. At its peak in 1906, the commercial street contained all the necessary mining camp businesses. Local miners drifted away in Autumn, 1906, and mining on a lease basis has been minimal since then. An important talc deposit lies nearby.