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The barrel is a later ex NZ Army replacement with the original sights refitted. I have seen a couple of Lee Speeds that were impressed for Home Guard use in WW2 and they were completely shot out when the owners got them back after the war. One was so bad that an unfired projectile would drop right through the barrel.
Shot out or corroded out? My Dad had to surrender his very nice pride and joy BSA 303. When it was finally returned to him the barrel was absolutely buggered.
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