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It sounds like you need a camera so you can post pictures Kenny. The hole you're describing sounds like a freeze plug, but that doesn't explain wet spots on the valve cover.
i am pretty sure thats what it is, water came pouring our of it, its gone, how do I put a new one it? id doesnt screw in, i looked on the otherside and it has a silver one that looks like it was pressed it...but how would you removew it to drain the coolant and how do you put a new one in? what holds it in?
oil on valve cover i think may be oil filler neck, the gasket is huge and you can screw the neck down even a little light because the gasket squishes out the side.
all I have is a camera phone but will try with that
Freeze plugs are driven in with some non hardening sealant, like #2 Permatex, around it. You can use a hammer and socket it is accessible. If the expandable one is available, that is is a good option.
its the little silver circle right in the middle of the picture, that is the driver side...the one on the passanger side is not there and can stick my finger in the hole,...tried to get a pic but couldnt seem to get it
The wet stuff on the top is simply from the coolant being tossed up there by the wind.
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I hope it isn't the case here, but that area of the engine has cracked before.
It's possible that yours did and that is why the freeze plug fell out. No more tension to hold it in.
I hope I am wrong.
Scott (Cookie88) posted quite a few pictures a while back of him and a buddy pulling a motor out of a truck with cracks into the water jacket right behind the starter.
His own motor did the same thing in the same area and he had to replace it.