Rest assured it is corrosive. The cause of most buggered 303 barrels along with sawing away at the muzzles with dirty pull through cord.
But all you need to do is use boiling water first to neutralise the deposited shite. Nothing more scientific. And while it is hot get the oil into it.
From my 303 fullbore days I used to have an angled funnel that went into the chamber to make it dead easy to pore boiling water thru. I think Parker Hale used to sell them.
And again, from my 303 fullbore days, anytime you looked at a second hand rifle, aside from gazing up the bore, you tried a loaded round into the muzzle. I have seen many 303s where the projectile would go into the bore right up to the tip of the case's neck. No saying yours will be like that but a quick useful check.
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