Do you have a micrometer available? I would start by measuring your bolt head and determining the dimensions of it. Then take that information and compare to the modern bolt head dimensions.

You will have to change the bbl with the bolt head if its possible to upgrade.

Lastly you might just buy a newer style bolt head (I think they are about $30 for a factory model) and see if it will even install. if it doesn't work, I'm sure somebody on the forum will relieve you of it.

Edit: see below

from user geargrinder in 2012,

"Correct. In order to turn this one into a swapper, you'd need a barrel, nut, complete bolt, magazine, and follower. In the old actions, the standing ejector is part of the magazine.

Unless you got it very cheap, or have extraordinary desire, the old actions aren't worth converting."

http://www.savageshooters.com/archive/index.php/t-18984.html