I would first try peening the slot back into some semblance of its original shape, and then soaking it in Kroil for a day or so. There is No excuse for mangling a screw slot. If you do not have the correct sized hollow ground screwdriver/bit to start with, I will recommend that you do not ever try turning a screw on an old firearm. further, if a screw will not turn, never try forcing it (which will distort the screw head slot).
Bert
WACA Historian & Board of Director Member #6571L

Lesson learned Bert & I agree. It’s not my screw driver bits I have Lyman & Wheeler & all the proper sizes. Someone had a previous go at it before I acquired it so soaking it first might’ve prevented this. Anyway beyond that now & will try to peen it back & soak it as you’ve advised. Appreciated.
AG
The hole you drilled is to large in diameter. Your hole needs to be about 50% the diameter of the screw. IE 1/4 inch dia. screw= 1/8″ drill and appropriate sized easy out.
The after market screws provided with the tang sights are a bugger. They seem to be very soft so extreme care must be used. The slots don’t seem to be cut deep enough. If the screw doesn’t want to let go after you soak the threads on the bottom tang, it sometimes helps to put the proper sized screw driver bit in the slot and give it a few sharp taps with a 4 oz. brass hammer. It will sometimes give it just enough shock to break the 100 year seal.
Hope this helps……..(for future reference)
Erin
No professional at this but Ive had buggered receiver screws in the past that I drilled out, drill hole less than half the diameter of the screw if possible, and drove a slightly larger diameter star shaped bit into the drill hole to engage into the screw metal to wrench out and break free. Mostly on 92 or 94 receiver screws. A nerve wrecking experience none the less. Also, as Erin mentioned, a couple taps with a mallet helps break things free.
Ive also used PB Blaster from the auto parts store to loosen and break apart the rust and grime in the threadsl, usually works within about 5 minutes. Havent noticed any adverse effects but use at your own discretion. If that doesnt free the screw, then its time to drill.
The main thing to take into consideration with any disassembly is to make sure the screw heads are clear of dirt and grime before you turn them and use the proper sized and shaped screw driver to fully and engage the slot.
1892takedown @sbcglobal.net ......NRA Endowment Life Member.....WACA Member
"God is great.....beer is good.....and people are crazy"... Billy Currington

As always great advice 1892td. We did indeed use PB Blaster & once removed found it had actually penetrated the entire screw, but no rust. The screw would turn half way & then seize. The actual problem was found to be the tang screw was bent? Would turn on the straight threads & seize on the bend from the pressure upward.
Not sure why the previous owner or owners installed a bent screw or how it came to be, but there’s no bent tang or damage. Anyway here are pics of before & after. Luckily all turned out good.
Not the case here, but I have encountered tang screws Loctited in to prevent someone form removing the sight and finding a extra hole in the tang. When that happens you have to use heat, a soldering iron on the screw to soften the loctite. I’ve seen it happen more than once by a Midwest dealer. T/R
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