My older brother has a word: "whatever works for you".
Obviously, nobody has the 100% accurate recipe for the calves development. Otherwise, we would have seen all the guys competing at Olympia with big calves.
From my personal experience, the calves developed extremely well when i trained them in a circuit.
The workout is like this: choose any 3-4 exercises for calves and then go for dropsets (after a rigurous warm up, obviously) without making any pause when switching the exercise. Do this 2-3 times every second workout, and you'll see the miracle happenening.