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I've got a Gen IV aluminum 5.3 with a mild build in a GT track car. There is not a lot of running on this engine, but it has always put a small amount of water in the oil. I've replaced the 241's with resurfaced and pressure tested 243's and new head gaskets (with copper spray) and ARP bolts. There was no signs of cracks anywhere, and no indication water is going in the combustion chambers. The last time it ran, maybe 45 minutes, it put A LOT of water in the oil. I pulled it out and it sat until now. I careful inspecting the head gaskets, head and deck, and nothing looks obvious. I think the only path for water to the oil is the head gasket surface, but it looks good. Then, I noticed this.... anyone seen anything like this before?? Could this be porosity right to the water jackets?? Thoughts?
try a couple of the GM coolant sealing tabs. I had issues with losing coolant after driving my car. Dropped a few of those in my system and seems to have cured it, for the most part.
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Water leak inside block?? 
