You can shoot BP & jacketed bullets.
The main bug-a-boo is removing the copper fouling so you can remove the residual BP fouling. If you don't, the BP fouling under the copper will attack the bore. A few years ago, there was a thread over on the Shiloh board 'bout BP & jacketed bullets. Kirk, one of the Shiloh-Sharps owners, said that he band sawed a few barrels in half lengthwise hat had been shot w/ BP & jacketed bullets. & the barrels showed signs of pitting under the copper.
You also want to remove all the copper if you shoot lead; otherwise the copper will attract the lead & build up. Same w/ shooting lead bullets, you need to scrupulously clean to bore so as not to attract copper fouling.
Now some will say that shooting copper/jacketed bullets will clean out the bore of all lead. About 20 years ago, the
American Rifleman had an article about this practice. Test results showed that all shooting jacketed did was evenly spread the lead out in the bore.
As for lead bullets w/ a .45-120, you just might need a fairly hard bullet, depending upon the nose design. I shoot a 14 lbs .45-2 7/8" (AKA .45-110) Sharps-Borchardt w/ a 545 grain Buffalo Arms Creedmoor bullet. Shoots very well w/ iron sights (2 MOA) w/ a 20:1 alloy (20 lbs of lead & 1 lb of tin) bullet, but I probably should go w/ a 15:1 or 16:1 alloy. W/ too soft an alloy, the nose will slump & destroy accuracy. That alloy & bullet does shoot well in my 23 lbs. .45-2.4" (AKA .45-90) Sharps. Kenny Wasserburger & others over on the Shiloh board who regularly shoot the .45-2 7/8" up 1000 yds. found out years ago that alloy & bullet design are critical to accuracy.
You will more than likely need to try a few different nose designs & bullet weights to find what will shoot well.
As an aside, the ol' Borchardt .45-2 7/8" is a 'hoot to shoot', but even @ 14 lbs & 545 grain bullet, it does get tiring after about 35-40 rounds w/ 90 or 95 grains of GOEX Fg. I did shoot a 15 lbs .45-120 loaded w/ GOEX Cartridge & after 10-12 rounds w/ Postell style bullet, it was no fun.
There is an on-line BP reloading manual @:
Adobe format --
http://www.ssbpcrc.co.uk/Resources/Introduction%20to%20BPCR%20Loading.pdfSame document, but in MS WORD format --
http://www.ssbpcrc.co.uk/Resources/Introduction%20to%20BPCR%20Loading.docIf you or others are thinking about casting your own bullets:
http://www.longrangebpcr.com/8Phases.htmSPG , Black Magic,& DGL lube are good BP lubes. I've lubed w/ SPG since just about the time it 1st hit the market. They are available form Buffalo Arms. As one poster mentioned, a
BP compatible lube is necessary. Its purpose is to keep the residual BP fouling soft & prevent leading. If the fouling builds up &/or become hard, accuracy will go out the window.
W/ a .45-120, don't be surprised if you need to wipe & dry the bore after each shot. The bigger the cartridge capacity, the more residual fouling you'll need to control. Been there; done that w/ my .45-2 7/8"....
What yardage are you planning to shoot the .45-120 @? Do you know the twist of the barrel? Twist is also a factor is shooting an "accurate" bullet. Some faster twist barrels will not stabilize the lighter bullets.
As for powder, I would start out w/ GOEX FFg or Fg. Anything finer will increase pressure, velocity, & recoil. Often times w/ BP your most accurate load is not the fastest. Primers are another often overlooked factor w/ BP & accuracy. W/ straight BP my rifles will hover around 2.0 MOA w/ CCI BR primers. 1-1.5 MOA target performance w/ a Duplex load & WLR primers. As will all things BP, you are going to need to experiment as what will perform the best.