Yes that would be a deer hunting load in my opinion.

I shoot 80 grains and that same bullet of out one of my inline rifles and would shoot out to 125 yards in the blink of an eye. Its all shot placement. With 70 grains you might not get complete pass through, but you have slowed down and bullet made to fly slower. 1633 fps using Triple Se7en powder. That is not as slow as you mgiht think (infor from Hodgdon's Data Book).You will get max expansion and organ damage when that thing hits. Just put that in the heart and lung area and avoid major bone structure and you should be fine.

I know a person that hunted for years with a roundball and 50 grains of powder. He shot them all close, never had a pass through, and simply put that ball in the heart of a deer and waited for them to lay down. It ususally did not take them too long.