2005 Yamaha 250 hp txr 4 stroke corrosion hole

Okiecoach

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Fisherman 222
Just informed by mechanic at local marina that engine has a hole in the block spraying salt water . I delivered the boat by water with no engine issues while running about 8 miles to the marina. Waiting for a welder to give opinion and considering repowering if needed. The engine has only 300 hrs . It is a 2005 Grady 222 in good shape . I bought it in 2015 and had it serviced regularly. Anyone have suggestions or can offer advice.
 

Fishtales

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That sux. There is a fairly thick plate at the bottom of the head and at the top of the mid section. Did this plate get breached? It is coated on the bottom side (mid section side). I was told if the water gets past it, the head is usually junk. Couple of options - see if you can weld it, not sure this will work, replace head and mid section or whatever is required or bite the bullet and get a new or used engine. Let us know how it turns out. Post pics if you can. A lot of engines are reaching this time period...