A projectile 10 for gun ammunition of a size not greater than 50 caliber comprising a solid metal jacket 82 of generally cup-shaped geometry and having a closed end 102 and an open end 88, a core 84 formed from a mixture of metal powders, not including lead, which mixture is cold-pressed into a self-supporting compact and disposed within said jacket, the core incompletely filling the jacket, an ogive 14 having an outer surface and defined on the initially open end of said jacket, and a conical tip 122 defined on the distal end 118 of said ogive, the tip having an outer surface 22 which defines an angle with respect to the longitudinal centerline 24 of the projectile that is greater than the angle defined by the ogive with respect to the longitudinal centerline of the projectile. A method is disclosed.