Join Date: Jul 2012
Location: Brisbane, Australia
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use a dowel the size of the bolt shaft without the thread, quick steel as mentioned, carve it out with a dremel to bring it back to the original shape (exterior) then remove the rod and tap a new thread. quick steel is the bomb for engine cases, as long as it is not structural. It also fills engine case rash damage like superglue :-)
edit: and get a new bolt, yours has red hair, and thus no soul.