Ok so mates just bought a bike from fleabay and it arived yesterday, so i started the stripdown, which has opened a complete can of worms.
Anyway, took the the nut from the expansion bolt, all fine then a bolt has been put in place of the existing stud and i found water dripping from that hole. The water wasnt a dirty water (looked quite clean actually) and it was just dripping out i had a look in the barrel and it looks dry. will be taking the engine out of the frame and rebuilding the top end anyway.
first thought was it could be water from exhaust gases, but i doubt any built up in there! anyone got an idea of where this water may have came from.
bikes a total wreck tho now that ive looked into it, seems as tho the guys bodged it all together but im determined to get it running xD
Sounds to me like the studs been taken out for some reason and then it's been re threaded for that bolt and it's gone right through into the water jacket! You may well be looking at a new barrel, unless you can possibly bodge it with chemical metal??
speakin from experience if they have drilled and retapped the hole for the exhaust stud they could have drilled straight into the water jacket on the barrel.
you will only get a drip from removing the bolt until you remove radiator cap(try undoin urs now see if it pisses out)
i ran fine without any leaks but a few weeks later i did a top end rebuild and while i was at it i used some epoxy resin on the inside of the water jacket just to be on the safe side.