Here is a not a Krag handguard it is a Mauser handguard .. what i was wondering is will it fit a Krag ... It has a single spring clip and it fits very well and  the handgurad fits will also just the sight is about 3 inches off ... But like the second example if  you move the sight back 3 inches it fits very well ... well have a look ...

I am just a dumb color blind machinist so what looks good sometimes get lost on me sometimes.
So here goes: on my sporter, the barrel pulled off the rifle had the sight had been moved back 2 5/16" by drilling one hole further back. I am not sure why this was done, maybe to lengthen the sight radius or to work with my uncles eyes. That hole is in the chamber area so it will need to be drilled and tapped shallower so as not to go into the larger chamber diameter.  Whatever the reason when the sight is installed in this new location it would have been proper to reshape the sight base to work with the different barrel contour there. I have since sold that sight so I do not know if that was done or it was original.

All said if you proceed with this experiment and can make 2  5/16 move work, that is one less hole to make and less risk of going too deep.