Bandaid fix??????
If it wasn't that Rick was on east coast and Pete on the west coast, I would pick up Ricks engine and drive it out---
I believe that it is vitally important that the cause of this issue be identified---and pulling the pan and looking at the bottom end in the vehicle is the surest way to start--if the material is thrust bearing flange material, it is probably caused by a bell housing/plate/input shaft length/clutch throw out bearing issues---If it is , it needs to be fixed or it will happen again---crank endplay needs to be checked with the engine/tranny together looking for this problem---
There is a reasonable percentage that its a crank thrust bearing and if the crank isn't dead, it will only need a new main bearing---(I'd change all bearings and
oil pump plus checking clearances) The
oil filter has 99+ done its job of protecting the
oil gallies from debries---
AND OF COURSE, there exists the possibility that its all scrap---------and will have to come out.
But, A Cobra is one of the only vehicles in any of our garages that you can get the pan off of without the steering and frame crossmembers in the way.