The OP said there was a hole from abrasion, suggesting that there's a thin spot in the sheetmetal. Brazing is an easy, effective way of mending this type of hole without excessive heat or risking blowing through with a welder. Even if a person doesn't have a welder, this is something that can be done with a propane torch.weld it up don't braze it , if your braze once that all up can do . brazing is one step up from soldering . weld it up and you can do anything that you want then . even braze it , lol .
man you should at least tighten down that intake. it looks like that vehicle was pulled up with the rest of the artifacts from the Titanic LOL!the further the oil is from the crank n rods the better for cooling it off . it will hold 6-8 quarts easy . its a driver , lol .