The only fix is to limit your FPS with nvidia control panel, or lower you resolution and have a more generous frame cap. Certainly don't let the game run at as many frames at it likes, or it'll 100% your GPU easily. The quality settings to little to affect performance.

The game is a bit of a GPU resource-hog at the moment. I run a GTX 1070 as well.

I'm playing at 1280x720 and using the app "Lossless Scaling" to integer scale the game up to 2560x1440 (my native res). Looks clean, lets me play at 60fps without using tons of my GPU, and works well with the games already pixelated style.