Once upon a time I was probably the biggest Savage 1919, 1922, 23 & 19 nut in the country. Even owned the 1 of 1 factory experimental 44-40 and all six variations of the 1919 target rifle
Mounting a scope is a bit tricky but can be done with no new holes. Brownells makes an aluminum rail that fit the Savage receiver contour on the bottom and the top is grooved for rings made to fit grooved receivers. When you remove the peep sight you have two factory holes in the receiver. I don't recall the size and thread pitch but the front one is something odd. You need to drill and countersink two holes in the Brownell's rail and get matching (longer) screws to hold it on. Loctite is a good idea. Then you can get 1" rings made to go on a grooved receiver and put any 1" scope you wish. I even had a 4X scope on the 44-40 which was accurate and recoiled a bit. It never shot loose.
The only one I kept after I was bitten by the pre WW I 03' bug, was a late 23D (checkered) in 22 Hornet ANIB.
Here's Larry 30 years ago exhibiting at the Rochester NY gun show where I took 1st prize ($300). 44-40 is at lower right.