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Sounds like a Turkish rework of an 1891. they were originally made in 7.65x53. The Turks began a standardization process in the 1930's and began converting all their various Mauser Models to a similar configuration and to 8x57.

Is it suitable as the basis of a custom rifle? It could be. But most folks investing that kind of money prefer to begin with the more advanced Model 98 action. The general consensus is that pre-98 actions are best used with cartridges that generate no more than 46K CUP. I subscribe to this notion.

Me, I'd look for a 98.

If you insist on moving ahead with the 1891, remember that the magazine will limit you to cartridges of the Xx57 class. The .250-300, .257 Robts, 6.5x55, 7x57, .300 Savage and 7.65x53, and 8x57 if used with US spec ammo would be suitable.

And I use these and other pre 98s, for 35 Remingtons; I like the 35 caliber, and loaded to 45K Psi, makes a great round. 7mm too, though.

The 1891 is worth far more as the complete rifle in 100% original condition. There are LOTS of stripped actions available to build off of. If a pre 98 Mauser is what you want there are 93's, 91's, 95's a plenty for relatively cheap compared to buying a complete original 1891.

The last 91/93 action I saw sold for $40 at auction. That was a complete barreled action, drilled and tapped. Depending on its condition and how original it is, I would be happy to buy it, at a profit for you, so as to keep it original.