My Grandfather has an old 8mm Mauser that is in great shape. He told me that I could take it and do whatever I want with it. It got me thinking, is there anything LR I can do with it? Let your imagination run wild.
If you have a true Mod 98 Mauser, you are going to have a good solid action to build off of. Like BB said you are going to need to get the action trued. I have a builder close to my house that has built a 6.5x300Wby Mag, and a 7mmx300Wby Mag. He has built a many rifles with that action.
Well the 8mm is not really known for its long range capeabilities but it could be used for it. Its able to push a 200 grain bullet around 3000fps. Although i agree with the other post you will need to have the action trued up. If it were me i might try to build a 7mm STW if i were going to build something other than the 8mm.
This is a fabrique nationale AKA FN. It is trued inside. The top of the receiver is about 26 MOA out of true. It is on its second barrel and second stock. Always chambered in 240 Wby which fits the original bolt face. Devastating whitetail and antelope cartridge in a long barrel.