Sounds like probably a freeze plug. Not a big deal, certainly not indicative of a ruined engine, by itself.
Probably rusted out from the inside. They do that alot. Especially if the coolant isn't properly maintained.
It's less than $1 at the parts store; you just knock it in with a hammer. Pull the old one out first obviously, if it didn't already come out. Sand the edge of the new one where it will be touching the casting; sand the casting clean too; smear some sealer such as Permatex 300 around the outer edge, and just bonk it into the block until it's about 1/16" below flush with the surface.
If one of them rusted through, the others can't be far behind; expect more of them to do that over the next year or 2. Might not be a bad idea to find them all, maybe look them up in the book at the parts store and see where they all are; look at them, and see if any of the rest of them show signs of leaking yet; and make plans in the back of your mind as to how you're going to deal with them when they do, or how you're going to just change them all out before they do what that one did.
__________________ "So many Mustangs, so little time..." |