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be careful using silicone sealants. I remember from a lubrication course that silicone sealant is not suitable for use with EP additives which your diff oil will have in it.
Nzdatman is correct, my bad for attempting to get my few neurons to fire so late.
Permatex No.1 is a hardening sealer according to GM service manual, good for Oil, Water/Coolant and Fuel sealing.
They suggest, water pump gaskets, thermostats, warped intake manifolds etc
It is a very good sealer and is brittle and will not cause a "Stuck" situation upon removal..
Permatex No. 2 is a "non-hardening" sealer, personally, the ONLY use for it I've found is to have it "hold" the gasket in place till the bolts grab.
For most applications, I find no need for a sealer when using good paper or cork on a "Machined" flat and clean surface, only grease.
YMMV on a rear end cover, honestly it's been so long, like over 10 yrs since I serviced my Locker in my 88 Chevy full size, I forget..
Your best idea on this situation is to IGNORE most of what I said, and listen to someone who's done one in this DECADE
Sorry, my Neurons are firing like an old Ford on a cold morning :)
Rusty Wrench