Yes, that 1 in 16" twist Douglas barrel blank for rimfires, as a 223 can only shoot 50 gr or less bullets, but sub moa is more often than not.
I have rebarreled Mausers to .223, 7.62x25 [30 Mauser], 243, 257 Roberts Ackley Improved, 260Rem, 7x57mm [7mm Mauser], 308, 45acp, 7mmRemMag, 300 WinMag, and 25-35.
It is best to do the 0.473" Mauser case head cartridges, e.g. 22-250, 243, 6mm Rem, 250 Savage, 257 Roberts, 25-06, 260 Rem, 6.5x55 [US made brass], 270, 7mm-08, 7x57mm, 280, 300Sav, 308, 7.62x51mm, 30-06, 8x57mm, 338F, 358, 35W and 45acp.
It is possible to do, but a lot more work in H&H belted magnum case head, e.g. 6.5mm RemMag, 7mm RemMag, 8mmRemMag, 264 WinMag, 300 H&H Mag, 300 WinMag, 338 WinMag, 350 RemMag, 375 H&H Mag, 458 WinMag.
The bolt face must be opened up. That is an interrupted cut on hardened steel, but you can do it.
The extractor must be opened up.
The feed lips must be opened up. [Do it per R.A. Walsh]
But avoid like the plague doing 222 case heads e.g. 17 Rem, 204 Ruger, 221 Rem Fireball, .222 Rem, .223 Rem, 5.56x45mm, .222 Rem mag, 6x45mm.
The extractor must be welded.