Milky oil usually means water intrusion, and removing the water jacket is a good start for inspection. Here's a simplified rundown for your Suzuki 60HP outboard:
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Disconnect the battery and remove the cowling.
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Drain the cooling system (if applicable) and remove any hoses connected to the jacket.
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Unbolt the water jacket cover — usually held on by a series of 10mm bolts. These might be corroded, so soak them with penetrating oil first.
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Gently pry off the cover — if it’s stuck, tap around it lightly with a rubber mallet. Avoid using a screwdriver to pry directly against the surface.
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Inspect the gasket — this could be the source of your leak. If it’s damaged or worn, it may let water mix into the oil.
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Clean the surfaces, replace the gasket, and torque the bolts to spec when reinstalling.
If the oil's milky, also check the head gasket and crankcase breather — that water might not be coming from the water jacket alone. The manual contains procedures to solve issues like this. Feel free to reach out to us with more details on your model (e.g. model year, serial number, etc.) so we can point you in the right direction.