7.65 is a .312 bore. Generally speaking cast bullets are 1 to 2 thou over bore diameter. I would slug it first.
I would not use hard cast bullets in it for low velocity loads as they might not upset and you could get blowby and hence leading.
Bullets cast with Lyman #2 metal are appropriate. I'd be inclined to use a gas check bullet as an old military rifle probably does not have perfectly smooth lands and grooves.
Suggest you join this site, as they have the really heavy duty experts on all things relating to cast bullets.
http://castboolits.comYou'll be shooting much cheaper and your old soft steel barrel will last forever. It will also put down those pigs you guys are overrun with down in TX.
You should be able to push a 180 gr cast bullet at 1800 fps, which will kill anything in TX at 100 yards or less.
Warning: you get hooked on cast boolits, you'll soon have a pot, molds and a lubesizer !
Lee mold #C312-185-1R is a good gas check bullet that could be shot as cast, dip lubed and work well. You will need a neck expander die
to bell the neck a bit to avoid lead shaving. (as you do with lead bullets in handgun ammo)
It is addicting !