I have a small leak from this little silver ball on my P/S control valve what does it do and how can I repair it? JBWeld or some other epoxy?

 

That sucks. That's a plug for a drillway.
I would take a hammer and punch and give that ball a good smack straight in, in the hopes of seating it better. Then with a centering punch I would peen around it in hopes of holding it I tightly. Then after cleaning it extremely well with brake cleaner I would indeed try some JB Weld over the top.
And when it still leaks I would go buy another one knowing that at least I tryed.

 

Thank you...finally someone on the largest Corvette Forum in the world knows what this is and a possible way to repair it! Have a great day and thanks again.

 

Welcome to the Corvette Forum srocke61! We are glad you have chosen to join us here at the Corvette Forum! This site is perfect for those who have questions or issues with a C3 Corvette. The knowledge here is absolutely amazing... When you have a moment we ask that you would fill out the profile on your account. This allows you to enter information about your Corvette so we don't ask you the same questions over and over again. It helps us help you!

If there is any pressure behind the plug then you might not be able to seal it with Epoxy or JB Weld.

Try tapping on it with a hammer to see if it seats and seals and if that didn't work I might be tempted to use a small tap and thread the inside of the hole allowing a small bolt to hold the plug in place.

I am not crazy about using epoxy to hold back the pressure of oil, coolant or power steering fluid. Even with the best surface preparation the ability of the epoxy to get a strong enough seal to hold back the high pressure found in the power steering system is questionable. If the plug is holding back partial pressure maybe.

On a Perkins 4-236 marine diesel engine I used some JB weld to seal the oil line at the end of the line where it had been connected to a vacuum pump. It lasted for about 30 hours or running time and then the epoxy popped off and the engine dumped 2 gallons of engine oil into my bilge. If I had not seen the event on my gauges I could have ruined the engine very quickly. I prepped the surfaces very well and they were free of paint, wax or any contaminants down to the bare steel before applying the JB Weld. The JB weld broke loose because of the oil pressure behind it.

Maybe a small piece of rubber sheet that wraps around the small hole and then clamp over it to hold the pressure inside the system. I can think of many easy ways to seal that hole in the power steering equipment and many of them do not use epoxy. Heck, even a welder could seal that hole up quickly since we don't use the small drilled passages in the parts. You might even find a rivet or something that fits in the hole nice and tight.

Maybe the most cost efficient way would be to replace the leaking cylinder with a new or rebuilt unit. I am using a Steeroids Power Rack and Pinion which allowed me to remove the entire old power steering system and replace it with a modern power rack and pinion system.

Whenever I had questions I would call the folks at TURN ONE Performance Power Steering as they have an immense amount of expertise and knowledge regarding the power steering systems used on our Corvettes. They even sell the parts at good prices. They are the Power Steering EXPERTS out there and they can help you with virtually anything regarding the Corvette's original Steering system.

 

It's just a drip doesn't seem to be under any significant pressure when turning wheel lock to lock its not shooting out...

 

But it is under pressure on the other side of that ball. Thus tapping it inward to try to achieve a better seal is a start. And then to hold it tight. Thus peen around the ball . Epoxy, last ditch effort.
your drip may be minor, but there is pressure on the other side of that ball.
Thus the reason for my last comment above. It's highly likely you won't get it to stop.
As your unlikely to ever visit that drillway again. You could weld over the ball. And quickly cool the valve.