Too bad the camera isn't a 620. That would only require re-spooling 120 film onto 620 spools.
In a 616 camera, 70mm film can be used, but you'll need to find/make backing paper plus a supply of 616 spools.
The camera can be [reversibly] modified for 120 film; see PDF link, inside the below link.
http://www.bnphoto.org/bnphoto/Kodak616.htm

Lots of hoops to jump through.
Nice find, though.

Marc