Yep. I would probably go for the 150 grain bullet myself, but the 124gr should also do the job. Ballistically, the 7.62x39Soviet is almost a twin to the venerable .30-30 that has taken more deer than all other cartidges out there. As TaxPhd said, just make sure you use modern hunting bullets rather than mil-surp ammo and you should be just fine. The only other thing is to make sure you are close enough. .30-30 and 7.62x39 are NOT 400 yard deer rounds. 200 yards max, best off at 150 or less. They can certainly still kill a deer past 200 yards but at that range the chance of just wounding becomes too great for a responsible hunter to take the risk.