Gents, If you want to mount a peep sight on one of those old rifles the procedure is actually fairly easy.
1st, mount the rear sight with super glue. This allows you to move it a bit and make sure you have it square and level. If not, break it loose and try again. Get it glued into place where you want it before you do anything else.
Now, take a #28 drill and go through the mounting holes and spot the receiver. Only drill as deep as the bevel of the bit. You only want "pits" from the #28
Next drill through the pits with a #31. This is your root drill. Now you can tap the holes to cut your threads.
Then you need only sock down the 6X48 screws that hold the sight on.
Now, take the highest front sight ramp you can buy and fit it to the barrel. Use solder not screws. The reason is that a soldered joint can be moved. Set you rear peep in the center of its windage range. Cut a spot on the rear edge of the ramp so you can see it from the rear, as you look through the peep. This will act as an aiming point.
Next go to a range and shoot a BIG target, and see if you are on for windage. Take a propane torch and a clamp with you. Fire a shot or 2.
If the windage is off place the clamp on the sight and barrel so it's held in place. Heat the barrel up until the solder melts. Gently tap the sight so the spot goes toward your bullet holes. (if the rifle shoots left move the top of the ramp to the left) You are only interested in windage at this point. Don't worry about elevation at all. Let the thing cool and fire again. You want to get the front sight centered to a place it's close to zeroed for windage when the rear adjustment is in the middle of its range.
When you get it there you can then make a temporary front sight out of bondo. This is the way you find what elevation you will need when the rear peep sight is all the way to the bottom of its travel.
In the best cases the ramp is so high even the top of it would be higher than the tip of the blade and that causes the rifle to shoot low. In that case you can carefully cut a blade out of the sight ramp itself to get the rifle zeroed.
Zero at 100 yards.
When you rifle is zeroed measure from the top of the temporary front sight to the bottom of the barrel.
When you get the rifle zeroed to your satisfaction you buy a dovetailed bead or blade of your liking. Measure the sight itself from the TOP of the dovetail to the TOP of the bead or blade.
Now cut off the ramp and file it flat so the top of the ramp will be at the height of the TOP of the dovetail on your front sight. You will be able to know exactly how much to cut the ramp down because you have the measurement from the top of the temp front sight to the bottom of the barrel. You want the top of the ramp to be at the top of the sight dovetail so the overall height of the sight and ramp will be the same as the one you made as a temporary.
Then all you need to do is cut a female dovetail to match the dovetail of your sight and install it.
The new front sight and ramp will now be centered and of the correct height so that the rifle will zero perfectly with your ammo at 100 yards when the rear has 100% of it’s elevation available to you for use, and it’s centered in it’s adjustment range left and right so you also have 100% of that adjustability available for your use too.
Blue the barrel and you have a classy and strong sight system that will last forever.