Massive Oil Leak

[Oka]

The VVT operates on oil pressure, which is zero when you manually crank.

Wow did not know that. Now, With new timing belt, pulled down the oil pan, PVC breather replaced,
might this all have caused a low oil pressure at first ignition start? Just guessing wildly.

[abscate]

Oil pressure can take 10 seconds to come up on any start. Don’t panic over all those “ 99% of engine wear happens on startup” falsehoods on the internet.

Over course of life I’ve idled engined for minutes with no oil pressure, a couple of times with no oil, due to user error. No effect on life.

[justanotherhumanoid]

Only bolt close to that I've seen on these are the bolts on the prop shaft front and rear CV joints, part #988143. It's in my head 'cause I was recently down there, but I don't recall seeing anything similar elsewhere on the car. Looking at it, honestly I don't think it's the same bolt, but it can at least be ruled out. The length of the non-threaded section looks slightly off, but there was a superseded part #981507, which I can't find a picture of, and yours is a 2001...

Doesn't make any sense that one of those would turn up on your workbench, though...they're loctited in, and you were nowhere near that area... also fairly easy to check that all yours are still installed, if you care to, though.

I'd bet on non-Volvo random other-car part or unused piece from a universal kit of some kind.

What's the frequency of the sound? Like a one-per-revolution, matching the rpm, or a lower clanging noise, or what? If you don't want to start up the car to get a recording of it, you could recreate it in a recording by tapping on a desk or banging on a metal part... if you can approximate it, it might help the smarter car guys on here figure it out.

For comparison, your pics:

Bolt2.jpg (21.54 KiB) Viewed 540 times

Bolt1.jpg (19.44 KiB) Viewed 540 times

To my pic from a recent job (not great quality, just caught in the corner of another pic):

prop shaft bolts bowl.JPG (34.54 KiB) Viewed 540 times

And the web's pics:

bolt3.jpg (12.86 KiB) Viewed 540 times

bolt4.jpg (14.49 KiB) Viewed 540 times

bolt5.jpg (15.55 KiB) Viewed 540 times

[Oka]

I was watching a video on head removal and sighted something that looked like what I have. I paused and rewind to be sure.
Yippie, it’s from the cam locking tool. It's the bolt that holds the arms together after the arms are screwed in to the cam shafts.
Now so feel better. At least that worry is out. Thank you all for helping me in identifying the bolt, well appreciated.

Bolt.jpg (40.83 KiB) Viewed 529 times

[justanotherhumanoid]

Nice! Any progress on tracking down or eliminating the noise?