That really blows. I haven't had an engine as powerful as yours, but so far my track record isn't much better.
The too-long bolt theory is a good one. Another possibility is that there was some debris in that hole and when the bolt was screwed in it blew the back of the cover out around it.
Good luck with whatever you do next.
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'72 Formula 400 Lucerne Blue, Blue Deluxe interior - My first car!
'73 Firebird 350/4-speed Black on Black, mix & match.
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