A Favorite to .22 Hornet,,,No.
The cast action, slip in bbl w/ set screw and no breech block support (well a little sometimes on the '94) just isn't up to the task.
Lots of them have been converted 32cf pistol round.
Relining any of the 22rf, 25rf or 32rf and converting the block to cf will give you what you want.
Even then don't try to make a Magnum anything of it. Keep the above features in mind.
Original 32rf barrels can be rechambered if the bore to a more common round. Check the bore & chamber specs first as they can vary. 32Colt and 32S&W are then the two common choices.
Rebarreling is also an option. These are simple smooth shank slip fit into the frame bbl. Held in place with the set screw. You can make up any style, length you like and most likely from orphaned bbls from other projects.
The extractor slot is a simple one to cut w/a mill though it can be done with nothing but files. 6 0clock position most common. The early rifles have a 7 oclock position extractor.
Fun little rifles to gunsmith.
The frames don't weld very well at all due to their cast composition. Be carefull of the tangs, they can crack easily at the frame joint.
Silver solder (hard solder) or a brazed joint is better to repair if you have to. If the tiny hair line of solder bothers you, have the action plated.
+1....
Frames are weak, pretty junky and quite sloppy generally. Rebuilt a few for customers, wouldn't recommend anything but .22 rimfire. I did case color one that came out quite nice, which was astonishing considering the poor quality alloy composition.
Parts are available at several places. Numrich has new barrels, 1/2 octagon, 1/2 round of modern steel with "Favorite 22" roll stamped on the barrel flat. A reline is a waste of money, like a retread tire. Numrich also has other parts which commonly break on that weak action, like the extractor, which is a poorly engineered system, as is the trigger system IMO.
It was built and sold as a very cheap catalog boy's rifle in it's day. Take it apart and carry it on your bicycle or horse.
You can read up on it while you're on the train.
Good Luck,
