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I dropped a valve like so many others in my 2007 Z06 at about 45k miles. I was going to just repair the head and sleeve but I ended up buying another motor here on the forum. The valve actually dropped when I was in reverse parking the car, so it didn't let loose under load.
The #1 cylinder sleeve has a crack in it and the drivers side head has some damage as well as you can see in the pics below. From the research I have done you can have the block repaired/re-sleeved for about $600-$800. The rotating assembly still moves freely so there does not appear to be any other damage.
The longblock includes: $2800
- Full rotating Assembly in block
- Timing Chain and cover
- Harmonic Balancer
- Oil Pump
- Oil Pan
- Custom Made Rear Mounted Dry Sump Oil Tank with steel braided lines
- Water Pump
- Heads with springs, rockers and push rods
- Intake Manifold with fuel rail
- 50# Delphi Injectors
PM me if you have any questions or email at jad568 at gee mail dot com.