7mm Remington Rolling Block

I have a 7mm Remington Rolling Block dated 1901 that has a completely worn out barrel and damaged stock. Since the action is in reasonably good shape and I like the rolling block action I am thinking of having it rebarreled and restocked. I have already purchased a 95% cut buttstock and forestock. I'd like to convert this into a 45/70 Gvt. caliber. Does this seem possible to change from a 7mm barrel to a 45/70 barrel and function properly? Of course, I would have a gunsmith install the barrel and set the headspace.
 
The only problem I might see would be the extractor. It may need to be altered.

But, since these guns were originally conceived for large, rimmed cartridges and then engineered backwards, it should be pretty easy.
 
You will need to do a bit of metal work on the receiver as the front is cut out for the handguard and forestock. The upper half of the receiver is much wider than the 45 cal models with a lip machined into the entire face, with out a bit of reciver work it will look very silly unless you go with the handguard.
 
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