check to see if this hole is the one that vents your timing chest.
some engines have a small hole to vent the flywheel area of the engine.
just think it over. if it was totally closed up and got hot in there the moisture
in the case would condense and get your points wet........thats why they vent
the timing chest, so look to see where the hole goes?
my old xr-75 honda had a hole in the bottom and if we ran it thru enough
streams that day it was bound to crap out from wet points