i went through all of this (long range bc sights) a month or so ago. all ya wanna know about this is detailed in the FAQ.
i will speak with regards to the bc, but this should fairly well apply or somehow translate to the handi 45-70, though that rifle has far more forward mounted rear iron buckhorn sights.
the quickest, easiest, cheapest fix is to replace the stock williams ramp peep with a far better williams elevator peep. about $80 or so, i think. this type of sight will not be "legal" at certain cowboy or long range events.
imo the better alternative, at twice the price, is the smith rear ladder peep. you will find it online and all will be back ordered with no hope of getting any in stock. however, as i did, you can order it direct from smith enterprises for the same fair trade price tag. i think this is a superb sight, hand machined from block steel - lots of labor involved, and hence the $165 price tag.
at least one person (john boy) rigged his bc with a tang vernier and had good results at 1000 yards. however, since the bc is a tip up barrel, there *may* be alignment issues since the tang and front sights sit on different, moving parts of the rifle.
hope this helps.