That's a tad unusual. The couple of 1920s that I put Lyman 54s on over the years both needed the front sights to be higher not lower. Never say never I guess. I would take Norm's approach and remove metal from the bottom and elongate the hole as necessary. after first taking Rick's advise regarding computations.
"You can lead a man to logic, but you cannot make him think." Joe Harz
"Always certain, often right." Keith McCafferty
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