Goat, that red may be lubricant that is used on the sight base and barrel as they tap the mounting pins in.
Are you SURE it is rust?
If you're not positive, get some good solvent and see if it wipes off and dries clean and "rust free looking". If you determine it is rust, send it back to Bushy and they'll fix it in a snap with no questions asked.
FYI, I have seen this red lubricant on one of my Bushy's but have never heard of rust in that area of a rifle.
Good luck. Let us know what you find.
CMOS