YUR SCREWED come to mind Hypotheticaly ?
as long as the Hypothetical bolt is still accesable to do the forementioned, i would locktite the pooh outta said fictional bolt let it cure & cut an grind it clean .
After that just drill the new hole as you said with lottsa prayers an maybe RUB SOME ROSARY beads for good measure that the bolt hole wont wander an all that ..NOW THIS ALL HYPOTHETIC .
