I think it was 3-In-1 that most people used in their guns before Airgun World molybdenumised everything, and oxidised 3-In-1 is probably the smell you're enjoying.
I did once plan to make a leather washered cheapie lubed with Castrol-R40 race oil so that when it dieseled enthusiasts would get a double dose of nostalgia, air-rifle shooting in the 70s and TZ750 race bikes of the same era.
But it never happened.
Oooops! Should have read this before I posted. At least I have a good excuse as the eyes are still nowhere near working properly.
THE BOINGER BASH AT QUIGLEY HOLLOW. MAKING GREAT MEMORIES SINCE 15th JUNE, 2013.
NEXT EVENT :- July 19/20, 2025.........BOING!!