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Since nobody else mentioned this and since you are asking fundamental engine questions. These are hydraulic lifters which means they need to be filled with oil to work properly. The question is, did this lifter fail and cause the engine oil pressure to drop or did the oil pressure drop causing the lifter to collapse? Not sure about the squealing sound you heard, but the clanking sound was probably the pushrod hitting the bottom of the lifter. Not sure why some here were so sure the cam was ruined. A collapsed lifter will ride up and down the cam lobe with no problem. Now if it rotated, being a roller lifter, that's a different story.
Before replacing any lifters, they need to be filled with oil or you will hear a lot of clanking. In fact, there are quite a few things you need to do properly before even thinking about starting this engine. Taking this engine apart without a service manual is 1 thing, putting it back together is another. Get a factory service manual.
Disclaimer: I have had enough experience ripping into the engines of my earlier corvettes (350, 427) and knew them inside out. However, other than pulling the plenum to replace my oil pressure sensor, I have yet to dig into my LS1. So, I am no expert on LSx engines. Wish you lived closer. I would of loved to come over and help you out.
Good point. I actually had no intentions of putting the motor back together myself. A friend of mine is an editor for superchevy and knows his way backwards and forwards around building LSX motors. A few months back before i had received the motor he offered to help me with this. I have not called him to help yet because so far i didnt think it was worth his trip. Now that I'm at this point, it's worth getting him involved, in particular for helping to put the engine back together properly.
On a side note, i tried and tried to remove the stuck lifter with every sort of pliers i had around, and as strong magnet, no luck. Looks like i'll be borrowing or ordering a tool specific to the job.
Did you pull the cam? If you havent then your just damaging the block even more. If the lifter wont come out of the top is because its mushroomed so it needs to come out the bottom. If it is Mushroomed then chances are your cam is toast.
Did you pull the cam? If you havent then your just damaging the block even more. If the lifter wont come out of the top is because its mushroomed so it needs to come out the bottom. If it is Mushroomed then chances are your cam is toast.