Coolant in oil 273

I have a 67, 273 that I recently aquired and the guy who had the car said there was coolant getting in the oil. So far the heads have checked out okay and there`s no sign of a cracked block, however I have`nt had it pressure checked yet. One thing I have found is the timing cover has two wallowed out holes in it where the lower waterpump bolts go through it. It looks as if water could have gotten through to the timing chain area. Has anybody experienced this before AND does anybody have a 67, 273 timing cover to sell? The timing tab attaches to the RT/passenger side. Thanks.