I'll let other folks comment on the cylinder chunk but if there isn't any major problems, it could be rebuilt.

Crankshaft must be checked for out of round and out of service limit. They make connecting rods for cranks that are ground .010 and .020 under.

If no major gouges ( and the missing chunk isn't too big) an over bore and matching piston are the way to go.

make sure the flying pieces didn't damage the camshaft either.

Jeff

that looks like a pretty big chunk, can you get a better pic of it?

I see you decided to tear into it.

Take it the rest of the way down and take some pics. No way to tell if it's repairable from what you posted. Can just barely see that there is a piece missing.