Were it me.... I would call Bobby Hoyt & ask him IF he can rebore & rifle the barrel & put the breechplug & drum back as it originally was. This would put the rifle back together with no mods & easy for you & safe. Only dif. is it would be a .50 cal. with a brand new bore instead of a .45 with a rusted bore.
If Bobby Hoyt cannot do it, I would hang it on the wall & mark it up as experience.
From what I can see, it is a Juker (Pre CVA) made in the early or mid 1970's and was a Kit & the sold in Woolworth, Woolco & similar dept stores & catalogs for $69.95 to $79.95. The cost of rebarreling it & new drum & breechplug, mods to fit the stock, then lock issues & etc, I would hang it or buy a used barrel of eBay in better cond.
Problem is, allot of the used barrels you are going to find are in the same cond. for the same reasons. Once in a while you find a new on on eBay, but the issue is it must be exactly the same, as you may not be able to do the mods yourself & we get back into a $ issue on a $80. rifle. You can easily put 300-400 bucks in this & still have a $ 80. rifle. But it IS your money...... :idunno:
All that being said, they ARE good barrels, so if a simple rebore is applicable & affordable, then I would go that way. However the breechplug must come out to rebore & rerifle it.
Keith Lisle