For what it’s worth, if it were mine: Find someone with a good borescope and inspect the bore for fire cracking and throat erosion. If it checks out good, I would proceed as follows:

  Seeing as it’s a target model, I certainly wouldn’t want a sloppy chamber as that surely does not enhance accuracy. I would order a minimum spec. 308 reamer from Pacific tool and gauge. Set the barrel back 1-2 threads and clean that chamber up. This will cure the head space issue and give you a more accurate rifle. (I would estimate about $300 for reamer and labor)

If the bore doesn’t check out, You can use it as a plinker/hunting rifle. .008″ excessive head space will stretch brass and lead to case head seperations if reloaded. There are steps that can be taken to negate this but that’s a whole different topic.

Erin

Hi John-

FWIW…  The ONLY M70s that retained clip loading slots after the pre-war period were the competition models in 30-06 (National Match, Target Model, and 30-06 Bull Gun).  After the pre-war period, even the target models in chamberings other than 30-06 lacked clip slots and, obviously, the 300 H&H Magnum bull guns never had clip slots from the beginning.

This rifle is interesting in that it appears to be a 1957 receiver yet it has the type 4 bolt sleeve that came along somewhat later.  Nothing necessarily wrong there, to me it suggests the rifle was assembled later that the receiver PR date (given the specialized nature of the receiver this would not surprise me).  Alternatively, either the bolt sleeve was replaced at some point or I’m mistaken about what I’m seeing!!!  

Hi Jason-

As John says, the outside looks like a complete and nice condition G7044C (30-06 target model).  IF the proofs are both there and the barrel fit to the stock is close (no gap – as would be created by setting the barrel back), then I’m back to your original theory, something’s stuck in the chamber… I find it hard to believe that someone would sleeve a barrel and rechamber it from 30-06 to 308 WIN or 7.62 M/M NATO (a lot of work), and then not bother to indicate the correct ammo by marking the barrel somewhere.  I still find it IMPOSSIBLE to believe in some kind of factory error in the markings.  For one thing, the proofs were applied AFTER test firing.  You’d think the tester would notice that a 30-06 round would not chamber.  For another, 308 WIN was cataloged briefly (1952 and 1953) as a special order chambering in the target model (so target barrels in 308 WIN were made), but I don’t think they’d be miss-marked…

In any event, don’t discard (or modify) a gun in that nice a condition until you’ve solved the mystery.  M70 target models, in general, do not bring good prices and target models with big questions hanging over them won’t bring hardly anything.  

Just my opinion,

Lou