I presume you mean 264 Winchester Magnum caliber. That is a pretty big cartridge, more like 300 WinMag than 30-06 Spg. My preference with a shellcase of this size, is to use a cigar pen kit. The case dimensions are in between those of 300 WinMag and 338 WinMag, so
300 Winmag Instructions and
338 WinMag Instructions might give you some assembly ideas.
There are tools that will safely remove a bullet from a loaded cartridge without marring it. Look for an "inertial bullet puller" as described in a previous post. After removing the bullet, you can dispose of the powder either by pouring it into a small pile and burning it, or by spreading it on the ground (where it acts as a fertilizer).
Regarding firing a primed but otherwise empty shellcase in your rifle, there are too many safety considerations regarding the discharge of a firearm for me to give you a simple yes/no answer. If you choose to go that route, be sure to follow all the same safety procedures you would for regular shooting. You may find the fired case difficult to extract.
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DO NOT rely on oil to deactivate a primer![/size] This is a dangerous myth. Although primers used to be sensitive to oil contamination, they are now quite resistant. Either way, oil might damage a primer, but it has never been a reliable way to render one inert. If you are not comfortable dealing with live primers, find someone who is to remove them for you.
If any IAP member finds themselves in this situation, please send me a PM and I'll see what I can to to help you out.
Sincerely,
Eric