If it's a controlled round feed ( big Mauser style claw ) extraction then it is not that great as a varmint / target / precision action as teh push feed Mod 70 would alow easier loading iof single rounds that may be too long for the magazine.
Most gunsmiths prefer to accurize a Rem action as it's just a tube.
The mod 70 has a flat base and a fixed recoil lug to contend with when holding the action for truing but it can be done ok.
As soon a s you use the word " precision " you change the whole ball game.
Why buy a custom top grade barrel , a target grade trigger , a custom stock an expensive long range scope and all the other stuff but then use a secondhand donor action ? I don't get it.
If you are going to do a cheap as chips job then fair enough.
I think you should just buy a new precision action as the basis for an accurate gun .
The New Zealand Barnard are good and not that expensive Home