Thru the Am. Civil War, circa 1865, pure lead was o.k. With the coming of cartridges the main additive for hardness was tin. Harvey Donaldson, who competed with black powder false muzzle rifles, said the 30 to 1, lead to tin was very good. Some preferred 20 to 1. More recently, pure lead has become less available cheap and wheel weights for balancing car wheels have become very available. Unfortunately the alloy is not guaranteed at all. Just the weight. At one time they had tin in them. Then tin got expensive and left out. Usually they had antimony in them. While this hardens things, it does not cause an alloy that resists "leading" i.e. deposits in the bore. Lyman has several books on all this. Lymna #2 alloy had all three, lead, tin, and antimony.
Lyman seems to recommend that 2200 feet per second. be the top velocity expected of a lead bullet. If you are serious about that water buffalo... I would suggest that you look hard at the .405 Winchester. It is the .303 case with a little extra length and came out in the time, circa 1895, when smokeless pressures were adopted. 45K CUP approx. T. Roosevelt used a .405 in a Winchester lever action in Africa and thought well of it. Since this is the same pressure range of current USA .303 loadings, I cannot see any major troubles. .38/56 and .40/65 WCF were also on the .45/70 case. While it is not the strongest case, there are some loads listed for anything stronger than trap door springfields, (US army rifle after Civil War) like today's Marlin 95 that will get heavy bullets up to 2,000 feet per second. The other thing is a shoulder on the bullet. Cuts a clean hole in the flesh and lets in cold air. Makes breathing laborsome and animal expires quickly...
Frankly, I cannot see both .303 and .7.65 R. Too close to the same for me, but it is your bucks/call. Another thought, go with a 3.5 inch 12 guage and the slugs available for same.There was one 12 load supposedly plenty for elephants that weren't too mad and after you. Well, maybe a little underpowered. Up north, here, that 2.5 12 gauge is not common and what is said, a very light gun for fast use on small birds. With the bolt set up, no reason you could not have another barrel with alot more beef for the 3.5.
A Mr. Epps, of Canada, did alot of development with the .303. I think his biggest was a .338/.303 Improved. You might want to explore this. US .30/40 Krag cartridge used about the same rim and base for this sort of thing in US. LUCK