I'm in the final steps of a rather painful head gasket replacement on an 85 Camry. (2SELC Engine) I had lost the original bolt in the disassembly process (I'm a klutz) and so I managed to find another bolt with the same thread and threaded it in, but it wasn't quite long enough. I got another bolt from the helpful guys at Napa, but the thread wasn't quite right, and unfortunately it appears to have messed up the threads in the block that the bolt goes into.

I'm afraid to re-tap the hole hastily because the hole also passes through the corner of the water pump, through a hole that isn't threaded, and I'd rather not take it back off. (I've gotten the timing at the level of the cam and crankshaft right and I haven't got another water pump gasket, on top of a lot of work that I'd have to completely redo)
The idea I had was to drill the water pump hole ever-so-slightly wider with my right angle drill and then slide a tap down to the block and re-tap it, because I'm afraid that if I end up tapping the water pump it might jack up my gasket and I'll have to take the whole thing back off anyway. Does anyone have an idea as to whether or not carefully, slowly drilling that water pump hole wide enough to get a tap to that part of the block will do more harm then good? Other then that the only idea I've had was to drill all the way through (that part of the block sticks out far enough that I could drill in, not punch through anything, and fit a nut on the other end) and then put a nut on the end with locking washers on either side. If that won't work, does anyone have another idea?