Greetings to Hillbilly in Alberta!
What part of Alberta are you at? I've traveled all over Canada, and Alberta is one of my favorite provinces!
As for your "shot out" 7mm Mauser, DD is right. The old military barrels are something like 1-8" twist rate and are optimized for the long 173 grain RN FMJ bullets. However, I've shot very accurate groups using anything from 120g spitzers to 139, 154 g, 173 g, both spitzers and RN and FMJ military stuff.
If your bore has rusted out a couple times (or more) from firing corrosive primed ammunition, and then bee cleaned with wire brush, you can probably count on the rifling being worn to the point it won't stabilize jacketed bullets any more.
Have you tried cast lead bullets? Sometimes you can restore the rifle to acceptable hunting accuracy by using gas checked oversize bullets. Try .286 and .288 diameter lead bullets. If the loaded round will chamber, you can fire it safely.
As for re-barreling, I did just as Gunnut69 suggested with my first M93 Spanish Mausers. I re-barreled them and they gave 1 1/2" to 2" groups with military FMJ ball every time! Hunting accuracy was just as good. If you can find replacement barrels for the small-ring M93 Spanish Mauser, that is your best bet.
HTH
John