unlike the F75, the F70 does have threshold control in disc. Think of it as just another sensitivity control. The optimal setting is -3. Low threshold settings will help deal with small undesireable targets. (make them less noisey and annoying). high threshold settings will make super deep targets louder, but will also enhance the small targets, like tiny pieces of foil and such. The trick is to find a good balance in the area you hunt. With a good accurate Ground balance, (I'd do an initial fast grab, and then a second one after you settle on decent settings for your area) you should be able to come up with that balance with a bit of experimenting.
Dont get carried away with the sens settings. Set it at maybe 60 to start, with a disc setting of 21. Leave the threshold at -3 for now. Is it quiet like this? If so..................try bumping the sens up in increments till it starts to get noisey. If you can get up to 90 or so before it gets chattery....you can probably dial in a bit more threshold.
If you are hunting an area in town where there are lots of crappy little targets.....like in a park or in town........you ARE going to hear a LOT. The best way with the 70 to deal with it is DISC, and a negative threshold. If its external interference (is it chattery in the air?), the best way to deal with it is reduced sens.
Truth is, if you relatively new to the F70, leave the threshold at default, and just use the sens and disc for now. Truth is, with threshold set at default, it will work well in 99% of the places your likely to hunt. Think of it as a control to play with when you encounter the odd site that gives you problems. If lots of tiny shallow targets are driving you nuts.....turn it down. IF you hunting a big old field with sparse targets.....and want to enhance responses on real deep faint targets...turn it up! otherwise, I'd recommend just leaving it alone. (for now at least. ). you may also want to invest in a DD coil for it if you dont already have one. I'm not a big fan of the stock 70 coil....but LOVE the DD on it.