It would be better to replace the broken screw if at all possible. Is there enough protruding to grip it with pliers?
If so, soak the threads overnight in Plus-Gas (made as easing-fluid so better at it than WD-40) then gently warming the bronze may be enough to release its grip on the screws. This will depend rather on whether the screws are of brass or steel.
If brass it may be feasible to drill them out, with the block held rigidly on the machine. If possible, very carefully flatten the broken surface with a small file, without scraping the casting, to help the drill centre itself; but anyway start with a small centre or spotting-drill. If steel, it's still possible but even with a guide-bush, the drill is very likely to deflect into the softer bronze.
It's also possible to dissolve steel screws out of other metals, with a solution of alum; provided the alum won't attack the host metal. I had to do that recently, using advice from this very forum, to remove a fragment of tap I had managed to break inside a stainless-steel part! It is slow, but effective.
Hopefully you may be able to remove the broken fragment, then just carefully clean the thread with a second or bottoming tap.
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Where was the engine made? If in Britain, the screws are likely to be BA.
It will almost certainly be a standard size, and 1/16" dia over threads suggests 10BA (standard dia 0.067" ).
Alternatively, there is an ISO-Metric M1.6 (= 0.62" ), if the engine has metric fastenings.
Use some form of guide-bush for the tap, maybe the flange itself held by its other screw.
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Obtaining news screws and the taps should be easy enough, from the hobby's various suppliers, though you may need one source for the screws, another for the tools. My usual supplier of taps and dies is Tracy Tools, and I obtained the sizes above from one of their charts and a reference-book.
With any luck, replacing the blown gaskets and broken screw will cure the cylinder problems!
The screws will quite likely be available in sizes too long, but can be trimmed back. Wind a couple of steel nuts onto them first to hold them, and to clean up the cut end of the thread as you remove them.