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As long as the bolt closes on your ammo there is no minimum headspace. But by setting it to less than the GO gauge, you take a chance that some factory ammo will not chamber or will not chamber without excess force.
So unless you will use only your reloads or are willing to test factory loads in advance, it would be best to limit the rifle to the range.
(Note that with a belted case the belt is not intended to strengthen the case; it is at a thin part of the case. H&H intended it only to be a substitute for the rim to make feeding easier and provide case support for a cartridge with a shoulder too small for good support.)
Jim
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