I would do as steelslaver said, only I would tig it with 308 stainless steel rod. The SS is more ductile than D2, which is a high carbon tool steel. This would be for myself only, don't need the liability of doing it for someone else. I think the repair would hold up well, given the thickness of the barrel and frame in that area. The same repair would be pretty sketchy on a K frame, which is very thin at the bottom of the barrel.
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