You said,"There are pock marks around the valves of the nearest cylinder to the crack. So I suspect, the head gasket wasn"t holding back the water." BUT, it would seem to me that water from that crack would either have gone into the cylinder or out the side. So if there are water corrosion pits in/by the valves, that could be from the water passages nearer to the valves - also from a bad head gasket. So how is the block, otherwise?? It took me a careful reading of what Zane posted to realize he was essentially making a clamp that would pull the crack closed to seal it, then use the block like that. Another way of saying, it is not much to worry about. You might not want to try the machining required. So JB weld might work just as well. The crack does not structurally compromise the block, it just is a potential water leak that you should be able to seal effectively. In the location that it is, I do not think I would mess with trying to drill a hole at the end of the crack. The idea is to stop the crack from spreading, but it is not clear to me that you can be sure of exactly where the end is. Also it could be the end of the crack is angled so that the end inside is way under the top where it looks OK. If this were in the outside water jacket, it probably would not be angled.
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