Willie-
I'm no M70 expert, but from the Blue Book....
M70 Target "available in virtually any caliber, i.e. 22 Hornet, 220 Swift, 24" medium weight barrel & target stock, add 80-100% over standard prices. Standard prices for 220 Swift are $1025 at 98%, $1200 at 100% (unfired), depending on year of manufacture.
M70 Varmint, 220 Swift or 243 Win, 26" heavy barrel, scope bases, varmint style stock, $995 in 98%, $1150 in 100%, add 50% for 220 Swift (less than 900 were mfg in 220 Swift).
If you give the beginning of the serial number followed by x's (ex. 265xxx), somebody can tell you when it was made.
Regardless of which model, sounds like a beauty. I'll give you $500, cash, for it right now. Don't think on it too long though, I may change my mind. 