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It's a good solvent for crud, and is designed to displace water. However, that or any penetrating oil will seep through the barrier between the cartridge case and the primer and foul your cartridge, resulting in unreliable ammo that could misfire. The sticky film it leaves behind will actually retard corrosion, so it's not bad for guns you're going to store unloaded for some time. But you'll want to clean them thoroughly and re-lubricate with conventional oils before actual use.
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