One of the rebuild books I have shows how to drain the converter by drilling a small hole in it and then plugging it with a rivet. Is it possible that someone could have done this in a previous rebuild and now it is leaking? You may also have a crack in the TC. If you drop the tranny, you'll be able to inspect the TC for crack, balloning, etc.
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'69 K-5 Blazer - 350/TH350, 6" lift, 35" tires
Bothell, WA
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bouncytruck 1972 K5
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