I have never seen that but I would say the cam lobe is pushing the lifter off to the side while raising it. That would require a different camshaft. The 300 is known for gear coming loose on cam from nut loosening. If it hasn't already damaged block I would say that it will if you just put a new lifter back in it. I saw a cam bearing work it's way forward once and get under a lifter and held valve open. Never know what you find in these engines.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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