318 is on its way out.

Snake said
Had the 71 out yesterday,getting her ready for this summer.As i was backing into my drive way there a noise, a scraping sound.So removed booth belts,thinking water pump,or power steering,nope still there,check convertor bolts tight,my gut feeling is its internal.What a drag,with almost no extra money to fork out for a rebuild.total bum out.

No no, you should be excited. Now you get to have fun building and driving something that makes much more power and less headaches.
In my searching... I have found parts to do warmed up rebuilds for next to nothing.
Check ebay engine pro r/m bearing sets for 55.00 , I've seen pistons, rings, bearings gaskets for 175 bucks.