I have never seen that but I would say the cam lobe is pushing the lifter off to the side while raising it. That would require a different camshaft. The 300 is known for gear coming loose on cam from nut loosening. If it hasn't already damaged block I would say that it will if you just put a new lifter back in it. I saw a cam bearing work it's way forward once and get under a lifter and held valve open. Never know what you find in these engines.
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