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Thanks Willus, really appreciated your great pics.
Yes, that is some sort of gasket sealant from the PO and I will clean it up when I install new chain cover gaskets. Cheers.
Unfortunately, THE way to attack leaks on the chain cases is to pull them off, replace the seals where the cams enter the back of the box, replace the gasket where they meet the case, and then replace the cover gaskets. Also the distributor o-ring...
All those spots are known culprits. Only doing one or two of these is probably going to cause more frustration in the future. BTDT.
Once these are off, one has to re-time the cams. This can be done in the car, but much easier engine out.