Corrosive CAC is certainly corrosive, not to be triffled with. Those salts get into the steel where it inevitably has microscopic heat and pressure fractures and while pouring boiling water and then oiling helps it never gets it all. Over time the steel darkens and erodes faster than otherwise. I have a pristine barrel and I'll never put corrosive ammo through it. I have black barrels with plenty of rifling and still won't put corrosive ammo thru them. Tried it once but gave up when 2 out of 5 failed to fire. Waste of time IYAM. But each to their own.
When I get hold of old CAC ammo these days I pull the bullets and use them after tumbling clean. The cordite goes under the lemon tree and the brass to the recyclers.
My guess is your .311 dia military projectiles are rattling down a much larger dimensioned bore. They can go as big as .318. And no, the military was not that interested in accurate squad fire from the old battle rifle. The best were reserved for marksmen/snipers the worst for squaddies trained to achieve volume of fire. A bullet traveling sideways will still result in a casualty. While the British Army preferred them to tumble on impact they were not however designed to travel sideways.
Recommend as above that you slug the bore. If its shiny and the throat is reasonable it may be a very worthwhile cast bullet rifle. But I guess it depends what you are after as to keeping it.
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