As a temporary/semipermenant fix I would maybe try using those four mounting bolts below the leak to bolt an oversized plate of steel
over the hole. Then you can try a few options such as epoxy
or some sort of gasket
or O ring seal with the plate to compress it onto the leak, so you aren't relying 100% on the glue to stick.
You might even be able to tap the block (or find an existing bolt) so that whole area can be plated over.
Much better than trying to weld cast iron. Its a prick of a stuff to weld, especially if its rusty and contaminated. I welded up an exhaust
mixer. Preheated it, peened it, but still had issues with cracking. Ended up working ok, but I chased the crack all around the place for a few hours. I would avoid it at all costs.
There are some neat crack repair systems involving drilling and tapping such as the lock stich system http://www.locknstitch.com/index.html
. That would be another avenue.
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