Thanks Gregaust, I have been busy and haven't been here for a couple of days.

There is another passage in the other half similar to the one you show in the red circle. Those are the only two you have to worry about.
Clean the gray residue out with clean solvent and a brush or a can of brake parts cleaner, lube the valves with ATF and make sure that they are not scored. You can polish them in the drill with 400 or 600 grit emery paper with some ATF on it. be sure to clean the valves after polishing and lube them when you install them. Check for broken springs and sticky bores while you are there.

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Paul
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retired mechanic after 35 years
specialized in Holley carbs and Ford Automatic Transmissions