Now we have a better idea of the situation.
- Typical original pressure cap for the
cooling system with Volvo's of that era was 8 PSI however there may be an aftermarket cap fitted and while most range from 5 to 10 PSI the occasional one goes as high as 15 PSI +-.
- I can second the good comments about Devcon
epoxy for that type of thing.
- Possible try to enlist help from someone who has experience if there is any one around.
- The impression given is that there is severe
corrosion that will require build up on sound metal after filing away the
corrosion and then sealing with silicone on assembly. If so make sure that the epoxy compound chosen has a good mechanical key and that the surfaces are completely clean ( in a pinch acetone will generally
work well for
cleaning. ) The epoxy can be "overbuilt" then hand shaped to suit using files etc.and just taking the necessary time + being careful. threads can be cut in the epoxy compound such as Devcon if needed quite simply with the normal drills and taps.
Once all of that has been done then the epoxy can be allowed to fully cure before assembly using appropriate RTV silicone. Be careful not to apply too much silicone and then give the silicone 24 hours to cure before testing etc.
For any threaded holes ( female thread ) that have failed or are "iffy" then you could take the appropriate helecoil kit(s) with you and install the SS inserts for a permanent
repair. gaskets can be easily made from the appropriate
gasket material using common tools.
The biggest issue is likely your lack of practical experience as evidenced by your having to ask for opinions instead of just deciding on what is the best way to do the
repair and then just getting on with it. That's not easy to replicate although it is likely not a hugely complicated job. Just take your time and make sure that you minimize any
mistakes. Possibly try several things at home first as practice - corroded items can be easily obtained from scrap yards.
Good luck,
Niall.