It's a rimfire action barrel in that the barrel is sleeved inside the receiver and I think crush fit or pinned fit in place instead of a barrel being screwed on to the receiver. The Hornet doesn't need a threaded barrel and many Hornets that are top of the line from Germany just pin the barrel into the receiver.

It resembles a 93R more than a 110 or 14 or other Savage Centerfire.