Its the hammer. Looks like the shell flag is the problem. Some shooters grind down the flag to provide an easier slope for the bolt screw to push the flag down.
Slowly, with hammer down,start to bring the slide back. When you encounter the most resistance the hammer. visually mark the position. Might take aatime or two.Bring the slide all the way back. Start forward visually aware of the "marked" position. You should incur hammer resistance again, plus the flag rsistance.
There are certain areas to be confronted if you want a slick cycling action.
The first is the hammer. Almost any firearm would have an awesome action if the action did not have to cock the hammer. The '97s hammer spring resides in the middle of the bolt. I remove the spring and , using a template, smack the spring with a lead hammer. The super strong "leaf" spring has am eliptical shape and I remove some of the arch. When mine stops popping Federal primers, I back up just a touch. If you look into the receiver with the action back, you will see a "strain" screw in the niddleof the bolt. If you loosen the screwyou will have the same effect.If you try this, have some approriate locktite available. We shoot way toomuch for it to stay, so we fix it so the strain screw willbe fully tightened.
The next area is the action arm. I remove the fore end, action bar, and mag tube. The mag tube must be free of any bumps, dings, or anything that will impede the action bar from sliding up and down the mag tube. Matter of fact, I buff the mag till it looks like nickle olate. Just the space where the action bar/forend travels. I use a brake cylinder polisher to polish and relieve just a tab of metal from inside the two rings on the action bar. If it is a three screw fore end, only one ring will exist.
You want the hammer polished where it contacts the underside of the bolt. Likewise the bolt where it contacts the hammer. Actually, abit of polishing wherever you see worn places willhelp some.
Thoroughly clean the receiver, bolt, and elevator, and when you finish the above, re-lube with a good lubricant, then you can truthfully use the ubiquitous "slicker than snot" description.