Your rifle can be restored. It has some unique features like single square bridge and a 28" long half octagon/round ribbed barrel.

Can you post some pictures of the underside of the receiver, left side receiver and muzzle...anywhere there is damage. Wuld help in its assessment.

I would assemble,headspace,slug the bore, chamber cast and recrown. If all proves out then I would take it to the range. If accuracy is to your liking then proceed with a restoration.

I've seen far worse pitting than your rifle restored. I would stone the below stock line metal and work out the pitting. If too deep then it will need "cosmetic" micro welding..tig if micro not available. The barrel may be Ok. If not you could "back bore" to clean up the muzzle area. If the bore is oversized and damaged beyond this, rebore....it's well worth the cost on a rifle of this vintage. Once happy with the metal...rust blue.

Ron