You won't likely be able to hone out that much corrosion but will need to completely disassemble the engine to determine if it can be salvaged. You could have lifters rusted in the block and other problems as well. Based on the corrosion on the engine mounts , it looks like it might have been underwater or swamped? Is that what happened? If so you probably want to pull and clean all the electrical connections to ensure no corrosion as well.
Last edited by Rossterman; 09-03-2012 at 04:19 PM.