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Here is a photo sent in by Russ using the blind holes thru the transom.
The splashwell is clear and the bolts can easily be accessed.

If you look very close at the bolt pattern and especially the lower bolts, you will see that the centerline of the lower bolts are just slightly above the splashwell drain.

These lower "blind" holes, according to Tom, are 6 inches o.c. below the upper mounting bolts.

If we did NOT want to use the blind holes, would raising the engine up 2 holes allow us to mount the engine and still have clearance in the splashwell? If we did raise the engine up 2 holes, then the distance to the lower mounting holes in the top of the slot would be 6 1/2 inches.
Is that enough? It looks like it would work from the attached photo. Maybe using a round washer instead of the square if that would make any difference.