Ok - where do we start :
I've checked what size No1 bolt heads I've got and the biggest is 0.631" so thats no help.
I assume then that your headspace gauges look similar to these :
If they are 303 then they wont be identical but in principal will be the same.
It is very easy to 'chip' either your extractor or the gauge so you must either remove the extractor (recommended) or 'fiddle' the gauge under the extractor. The extractor is tapered from the bottom (it doesnt look like it but believe me it is) to facilitate picking up / locking over the cartridge.
Open the bolt fully, insert the gauge at an angle (from the top - as its virtually impossible to do it from the bottom unless your fingers are 6"+ long) hook the flange of the gauge under the extractor and carefully guide the gauge into the chamber, close the bolt down using gentle 'one finger' pressure. If it closes then it fails (Ok I know it is 72 thou and should be 74 thou but we need to work with what we've got. If you feel resistance as you close the bolt down its a 'pass' and no further worries.
Assuming we have a 'fail'
Remove bolt from rifle, unscrew bolt head from bolt.
Make up some shims in varying thicknesses (say 2 thou, 5 thou and 10 thou - maybe cooking foil or similar) that will fit over the threaded part but the overall diameter stays within the O/D of the bolt head.
Put a shim onto bolt head, reassemble bolt and repeat headspace test.
Keep repeating with different shims until the bolt will not close.
Lets say you get a 'pass' with a 5 thou shim.
Bolt head length 0.636" + 0.005" = 0.641"
So you are OK to go as a 0.641 bolt head gives you a headspace of 0.072"
Ideally you want a headspace of 0.067" so in a perfect world you need a new bolt head that is 0.636" + 0.005" + 0.005" (the second 0.005" is the difference between the ideal of 0.067" and your gauge of 0.072") = 0.646"
In conclusion you are looking for a bolt head between 0.641" and 0.646"
Remove the shims, put the rifle away and do not fire it until you have the new bolt head. The other possibility is that the bolt body has become compressed with repeated recoils.
measure the length of the bolt from the rear of the locking lug to the bolt head face. In the example used above you need to find a bolt body that is between 0.005" and 0.010" longer.
When replacing either bolt bodies or bolt heads it is
very important that you do not have over or under rotation of the bolt head. Under rotation is not particularly serious as you will not be able to close the bolt, but over rotation means that the bolt head threads are taking all of the recoil impact, and will quickly become worn until the correct mating surfaces (bolt head / bolt body) come together by which time your headspace will have increased by (who knows ?) 10 thou, 15 thou ?