i7-3770k overclock with Asrock

Hello Everyone,
so here is my issue. I just received an i7-3770k CPU and so far it seems fully functional and I am quite happy with it at that. I am trying to overclock it though, which is a bit of a given since the only reason to buy this CPU is to overclock it.

I have an Asrock z77 Extreme4-M motherboard. According to CPUZ my max voltage has remained 1.16 volts, which is the default voltage I am given even at 3.9Ghz.

However, using Coretemp it is telling me that the CPU VID, which I think is the main voltage on the CPU not sure, goes as high as 1.24 I think.

My big reason for concern is that this CPU for Voltage offset and other manual voltage controls does not have a "Disable", "Off", "Default" or similar modes. The only options are "Auto" or I can set them to an exact amount. I currently have them set to "auto" because I wanted to lock the CPU voltage and see how far I can get on the default voltage. I considered setting the default offset to +0.05 and the default voltage increase +0.04 (I think was the smallest), thinking at least then I would have the motherboard trying to change itself. I didn't though not wanting to needlessly raise the voltage.

I am worried that the motherboard is raising the voltage on its own, because the temps are spiking up to the mid 80's on my CPU with my CPU at 4.3Ghz when all 4 cores are at full load. I am using high quality Zalman ZM-STG2 thermal paste, and a cheaper cooler but it is one of those that stands up on the CPU with 6 liquid filled copper heat pipes running between the CPU, up to a heatsync and then by a 92MM fan.

I have a 200MM case fan on the side too and lots of other fans so case ventilation should be fine.

Any thoughts would be appreciated.