The Barrel is stamped "308" so it will fire the lower pressure 7.62x51 Round as well Stephen.

It would be a .308 (you can shoot 7.62 NATO in a .308 barrel. but you cant shoot .308 in a 7.62 barrel (.308 is the hotter higher pressure round) specs Specifications and features: Remington Model 700 5-R Gen-2 85196 Bolt Action Rifle .308 Winchester 4 Rounds 20" Fluted Stainless Steel Threaded Barrel Threaded 5/8x24 TPI with a 1:11.25" Twist Drilled and Tapped Receiver Internal Magazine X-Mark Pro Adjustable Trigger 2 Position Safety H-S Precision Synthetic Stock Stock is Sand with Black Webbing Sling Swivel Studs Black Cerakote Finish Length of Pull 13.375" Overall Length 39.75" Weight 8.5 Pounds

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Hi Stephen, It would be a .308 (you can shoot 7.62 NATO in a .308 barrel. but you cant shoot .308 in a 7.62 barrel (.308 is the hotter higher pressure round) specs Specifications and features: Remington Model 700 5-R Gen-2 85196 Bolt Action Rifle .308 Winchester 4 Rounds 20" Fluted Stainless Steel Threaded Barrel Threaded 5/8x24 TPI with a 1:11.25" Twist Drilled and Tapped Receiver Internal Magazine X-Mark Pro Adjustable Trigger 2 Position Safety H-S Precision Synthetic Stock Stock is Sand with Black Webbing Sling Swivel Studs Black Cerakote Finish Length of Pull 13.375" Overall Length 39.75" Weight 8.5 Pounds

It would be a .308 (you can shoot 7.62 NATO in a .308 barrel. but you cant shoot .308 in a 7.62 barrel (.308 is the hotter higher pressure round) specs Specifications and features: Remington Model 700 5-R Gen-2 85196 Bolt Action Rifle .308 Winchester 4 Rounds 20" Fluted Stainless Steel Threaded Barrel Threaded 5/8x24 TPI with a 1:11.25" Twist Drilled and Tapped Receiver Internal Magazine X-Mark Pro Adjustable Trigger 2 Position Safety H-S Precision Synthetic Stock Stock is Sand with Black Webbing Sling Swivel Studs Black Cerakote Finish Length of Pull 13.375" Overall Length 39.75" Weight 8.5 Pounds

It would be a .308 (you can shoot 7.62 NATO in a .308 barrel. but you cant shoot .308 in a 7.62 barrel (.308 is the hotter higher pressure round) specs Specifications and features:
Remington Model 700 5-R Gen-2 85196
Bolt Action Rifle
.308 Winchester
4 Rounds
20" Fluted Stainless Steel Threaded Barrel
Threaded 5/8x24 TPI with a 1:11.25" Twist
Drilled and Tapped Receiver
Internal Magazine
X-Mark Pro Adjustable Trigger
2 Position Safety
H-S Precision Synthetic Stock
Stock is Sand with Black Webbing
Sling Swivel Studs
Black Cerakote Finish
Length of Pull 13.375"
Overall Length 39.75"
Weight 8.5 Pounds