Yep, it's a bog standard M16A1. It could be manufactured by Colt, H&R or Hydramatic Division of General Motors. I'm told Colt is going to produce a semi auto collector version of the M16A1 and XM177 but I'm not sure if they're available yet. You can build one if you want. All of the early parts are available as new production from places like Brownells and Nodak Spud. Check out their websites.
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