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Was swapping out the oil in my 79 F350 and 4 of the 8 or so holes in the oil filter had bits of metal shrapnel clogging the filter up. The engine sounds great but this really worries me, is this a sign for a major blow up about to happen??????
It sounds bad, but how bad is it? Well, the only way to find out is to pull the pan and start looking. You'll need to change the oil pump anyway and this will allow you to inspect bearings and crankshft journals.
As far as where the metal came from, it could be from many places. The most common I can think of are the bearings, pistons and rings, cylinder walls, camshaft lobes and lifters, oil pump and distributor gear.
It is impossible for anyone to diagnose the fate of an engine based on a breif description. It will take hands on direct and probably lots of looking to know what is yet to come.
Metal in the oil filter is not a good sign, but it was wise of you to spot it. A rule of thumb is anything bigger than a pencil tip and you should put the engine on hold . Collect the metal pieces and take them to an experienced engine builder who can probably tell you what it is. Take a magnet and separate the ferrous from non ferrous. Once you learn what it is you can decide what surgery you need to perform. Dont drive the truck cause you might be able to save the block possibly. good luck