A guy at the Gun Club stuck the wrong cartridge in his M70 classic, and I think it was the exact cartridge combination you are talking about. He had a 270 Win rolling on the table and inserted it, and fired it in a controlled feed M70 in 7mm Rem Mag.
The case head blew.
I think the action was useable though I am sure parts came off. It made a big impression to the shooter, he wanted everyone to know what happened so they would not make the same error.
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If I'm not shooting, I'm reloading.
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