T
I shoot very light barrels, only at 76 ounces. A typical Weaver or Leupold will go between 16 and 18 ounces. The rings will add another 4 ounces.
So, if you are going to start out with 86 ounces, without the barrel and scope, you will be about 12 to 14 ounces too heavy for LV, but ok for HV..
You can't make a 21 1/4 inch LV profile much lighter than I do. So, your only choice would be to go with a much thinner profile if you wanted to shoot LV or Sporter.
Why is your Rifle so heavy??. It must have been built on a stock that was intended as part of a dedicated HV........jackie