What's this in the oil pan?

[Kevin 007]

Ah! I bet you're right. The front cover was off of the engine years ago, so it would have been disturbed. I'll compare with a parts e

Maybe a locating pin for the front or rear cover plate? Otherwise, I'm out of guesses.

Yup! Measures up exactly like a front cover line up pin! Im not too concerned about it now, I don't think the engine is going to fly apart

 

[The_Josh_Bear]

It's ferrous, but doesn't appear to be magnetic. I will check that again to be sure

Alright school me this... how can something be ferrous and not magnetic? I get that something like stainless steel has very little iron and so is only mildly magnetic, but that's all I got.

 

[Kevin 007]

Alright school me this... how can something be ferrous and not magnetic? I get that something like stainless steel has very little iron and so is only mildly magnetic, but that's all I got.

Perhaps I should have said that it's not magnetized, instead of magnetic.