Is the body made from stainless steel, or is it blued steel?
If blued, it's likely a "Central" sight, which is made in Australia. They were sold in Canada by Bob Barwise (so pretty local to you!).
A very-similar looking sight, a bit bulkier than the Central, is a "Radar", which has stainless steel arms.
The eyepiece is a separate part from the sight. Gehmann and Anschutz both make eyepieces. That one looks like it has a variable sized iris, and it also has a rubber eye cup added. More elaborate eyepieces can also include a "diopter" (about a 1.5X magnifying element, with adjustable focus), colour filters, polarizers, etc.
The front sight you have there is a 19mm diameter Anschutz. It uses steel insert elements (you ought to have a set of half a dozen inserts, perhaps ranging from 2.5mm diameter to 3.6mm diameter)
This sight would certainly be useable for TR shooting. Nowadays we are permitted to use "Eagle Eyes", which is a lens in our front sight that provides a small amount of magnification. More important than the magnification is the fact that it brings the target image and the front sight element closer to being in the same focal plane, so it is easier to get both the front sight and the target into (near) simultaneous focus.