Mate, try the loctite now you have it but I doubt it will hold the pressure. Don't know 'till ya givvit a go!!
Helicoil kits are available at some auto parts outlets but more likely at a local engineering supplies shop. Any machine shops near you? - they will have them.
The helicoil is a new thread that you wind into the hole. You have to drill it out oversize and then put the new thread in with a tool supplied with the kit. All instructions are supplied. Just be sure to take your sample stud with you so the correct thread can be sourced. It is likely to be metric.
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