I stripped the heads NO on my bolt but on the part where the bold screws into on the head.  It's the hole where bolt #20 on the fische is.  the one that has that rubber o-ring that goes under it.  now i have some oil that leaks out of it.  

any one have any ideas of what i can do?  thanks

i can screw it in, but it does not get tight.

Twise I had to deal with the same issue in the same place on a different Savages. It is not a pleasant repair, because You have an oil passage and You have to be carefull not to plug it.  There is a thing called "TIME-SERT". It comes like a kit and it is the best .
Helicoil is a good "get me home" fix-up, but if You intend to keep the bike, do it right. I am sure in Your area will be somebody who can do it for You .