Having spent many years as a watch repairman, may I offer some advice? While silicone seems like a good idea, there are better. The purpose of oil in a watch/clock is not to lubricate, but to reduce friction. Initially the silicone will do this. However as time passes the silcone will attract dust and contaminates. The silicone will thicken up with these particals and you will now have an abbrasive paste in the gear train. Kinda like adding steel filings to you oil. Depending upon where and how much silicone you put in the gear train, your time piece will gain or lose time and may even stop in cold weather.
You are on the right track though. When it comes to lubrication you want to use a premium grade synthetic watch/clock oil (before synthetics, oil from the head of Sperm Whales was used). It's usually sold by the 1/2 oz. Last time I priced it, it was $32.00 for a 1/2 oz. Expensive, yes but a container this size will last for years. You use very, very, little of it at a time. You can probably obtain some from your local watch/clock shop. He/she will most likely give you the amount needed.
It is very important to get the gear train clean before starting. A highly refined cleaner that leaves NO residue needs to be used for this purpose. Considering this time piece is not a navigational instrument, a cleaner like Brake Clean or it's equivilant could be used. Don't use the spray tube! It has too much pressure. Just use the nozzle at a distance of about 10 to 12 inches. You intent here is too flush out the old lubricant. Let it dry naturally or by using compressed air at a VERY LOW pressure setting like 1 or 2 psi. VERY LOW. You have now successfully cleaned your time piece. It is now time to lubricate it. You will notice the gear train is "sandwiched" between two metal discs. One is the upper plate and the other is the lower plate. You will notice each gear has a "shaft" running thru it. At each end of this "shaft" you will have a very small pivot, two per shaft, an upper pivot and a lower pivot. THESE ARE THE ONLY TWO POINTS THAT GET ANY LUBE. A very small drop will do (you might tell the clock repairman what you are doing and ask him to show you what is concidered to be a small drop, you might be surprised). Reassemble, cleaning the electrical contacts. If you are succesfull, your clock should give you years of useage.
Mike Hintz