could have a bad head gasket, and antifreeze filled a silder and caused a hydraulic lock on one of the cylinders. However, the shavings worry me and could be something worse. At a minimum i would remove the head and take a look at the top of the motor and if nothing found, drop the oil pan and take a look at the lower end of the motor.
Good Luck
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1984 Mustang GT350 20th Anniversary Cobra
1991 Ford Explorer
1993 Ford F-150 300 I6 5 Speed
1999 Ford Taurus Wagon
"Don't Crush Them ... RESTORE THEM"
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