The report of a faint signal couldn't be verified as coming from a creditable source. As with all searches that drag on for awhile you start hearing all kinds of stories.
An aircraft went missing here with a pilot and game biologist several years ago. Extensive search. People swore they seen it flying here or there and some said they heard it crash into a lake etc. Couple of years later they found the aircraft 100 or so yards behind an outfitters camp when a hunter took a walk through the woods and found pieces of plexiglass.
The information I have been able to find reinforces my belief that they didn't get that far from Jackpot (but I've been wrong before). They were obviously heavy with a full load of fuel along with their other items. It was reported when they departed Jackpot the winds were gusting to 35 mph. Heavily loaded, high winds and trying to cross the leeward side of the mountains is not a good mix. 30-35 miles from Jackpot they had some pretty serious mountains to navigate whether they deviated to Burning Man or not, called the Matterhorns which reach upwards to 11,000 feet (see map, you'll have to click on pic to enlarge).
Scouring the leeward side of these ridges would probably be as good a bet as any.
http://www.backcountrypilot.org/gallery/displayimage.php?album=random&cat=10169&pos=-885
http://www.napanews.com/templates/index.cfm?template=story_full&id=8A091A30-D5FE-412A-B2AC-D4F1FB45D716