Where do you plan to put the PCV valve? The earlier blocks had a hole beside the distributor where the road draft tube once fit, later adapted to incorporate the PCV. That setup required an intake manifold with a built-in oil fill tube with a vented cap. It's imperative that the crankcase be ventilated to prevent the buildup of pressure from blow-by gases. It needs to be done by airflow past a road draft tube and a ventilated valve cover like the pre-emission control stovebolts and V-8's, or with positive ventilation provided by the PCV valve and a clean air source from the air cleaner housing.
Bottom line- - - -if the ventilation isn't there from some source, oil will leak from every gasket and seal due to crankcase pressure buildup, and the engine will burn oil, also. The ventilation MUST be there by one method or another.
Jerry