i think its a little bolt and alot threads. i can see the threads on the case and they just dont look normal.at thevery top of the threads it is flattened a little, enough where i can i tell just by finger tightening it.the bolt has a slightly flat spot on the end. i figure i'll just replace the bolt but tapping the case makes me a little nervous. do able but still nervous.

 

If you drill it you will have to Helicoil it. If you can get a tap the same size as the bolt started straight you should be able to save it. As far as the magnet, the case is aluminum so it will not do you any good.

 

The bolt may be galled which is when metal from the fastener transfers to the threads it is being screwed into. Get a new bolt and like the others said run a tap over the threads to clean it out. If you don't have a tap get 2 bolts and use 1 to clean the threads and the other one to fasten. If the new one won't go in you have to use a tap. Then you need to get all the metal flakes out of the engine. I would flush it with cheap Walmart supertech oil liberally and try using a magnetic pickup to stick down the hole and see what you can grab. Try the magnet because there may be metal from the bolt threads. Take a good look at the bolt threads when you remove it. It could have been over torqued and stretched the threads on the case or the bolt.

 

$hitty.