Broke my water pump bolt. Now what? (Update - broken bolt is out)

toolmanmike said

A lathe would be good but I believe the engine is on a stand.

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The intent would be to center drill a new bolt on a lathe then thread a long nut on to what was left of the water pump bolt. You then thread in the center drilled bolt to use as a guide in order to drill into the center of the broken bolt.