Yes it will work. I just had an M70 375H&H rebarelled to 404 Jeffery. Very little gunsmithing involved. My barrel was a 25" #5 contour PacNor match grade in stainless with a 1/14 twist. All the "smith" had to do really was to open up the barrel channel, make a couple of extractor cuts, put on a different set of sights that I wanted, and install a barrel band for the sling. It's a poor man's 404 but hey it's a 404. Got the whole rig for $2400 CDN (includes price of donor firearm). Got back from the range a couple of days ago and shot a 3 shot 1.13" group using Hornady 400gr DGX bullets. Velocity was around 2200fps. I can put 3 in the mag and "one up the spout".