I'm an oil advocate for ALL moulds since even brass and aluminum moulds have steel sprue plates and alignment pins.
I generally use a mix of WD40 as a thinner and a light lubricating oil. After making sure the whole mould is well covered I put boolits back in the cavities so capillary action hold the the oil between boolit and cavity.
I've never had a mould rust doing this and generally for clean up before casting the mould is simply wiped down with a rag or paper towel, sprue plate lube wiped on under sprue plate and on alignment pins then pre-heat until the sprue plate lube just starts to smoke.
It works for me and no rust.
Longbow