funny looking oil substance from an i/o???

[red20]

My friend was out with us this weekend. He has an open fish w/ i/o power -- small block chevy, holly 4 barrel carb. At idle we noticed a white "milky" substance floating on the surface. It looks like white lithium grease. Must have been coming from the exhaust. I have seen carbon build up / unburned fuel pool up on the surface but never white in color. Any ideas on what this stuff was?

[ScottM]

Could be gearcase oil. That stuff gets milky when mixed with salt water. The fill cap may not be secure or there could be a leak somewhere.

[nestorpr]

Could also be Trim & Tilt fluid leaking out of the tilt cylinders, it happened on mine.

[red20]

after talking with him last night, I think it is gearcase oil / water mix. I too have had a trim cylinder fail and this is different. Sounds $$$$$ to me.