That is an SB-2.
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No light between the barrel and the breech in the 45/70. I do have a .44 mag Handi Rifle and it unlocks about 75% of the time. Very disconcerting to say the least. There may be a fractional amount of light between the barrel and breech on it. I don't use the .44 very much. It is just in the safe. The 45/70 is the go to rifle for close in brush hunting. It has never unlocked on me. I have a other rifles for more open hunts.
Too much lubrication on breech locking area (ramp lower barrel) can cause unlocking which usually indicates it is right on ragged edge of proper fitting. I had one that did this occasionally, a little fine compound on shelf and worked a couple times then torn down and cleaned all really well and fixed. I believe a search over on Greybeards there are several discussions on this topic/process. It is a low and slow attempt, file or grind too difficult to control quality of fit, compound perfectly mates the two but too much bad, so sad!
Makes sense. I am leaning towards this rifle not being shot a whole and needs some breaking in. If I slam it shut firmly, I don't get any "light" creeping through! Will clean thoroughly and check out Greybeards. I used to have an old Topper model .410 that upon closing the action I would hear a distinct "click".
Graybeards forum has all the info, tips etc. you could ever need on these rifles. The fit of barrel to receiver is the key to fixing the opening after firing problem.
Joe
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The Handi was sold in 500 S&W. I have one I bought brand new years ago. The 500 has a larger base area and was designed with a 65000 operating pressure. Loading to Ruger pressure is acceptable. I know guys who love recoil . You can get it with a Handi.