I am having the same problem with my 1996 blazer. I had been noticing the oil pressure did not regulate like it should but then I started it up this morning it was knocking and had little to no oil pressure. I pulled the stick and noticed flecks of metal in the oil. There is no oil leak. Just that horrible knocking noise. There was no warning of this could someone pushing the engine too hard have caused this!?! I baby my car because I do my own repairs. And the last two times it was driven it was by my husband who has a lead foot when he wants the car to go faster and his car that he has trashed has a bigger engine thaN MINE. Just asking. Is this something that is going to cost me an arm and a leg or is it reasonable! I have no internal knowledge of the engine as of yet I have not taken one appart yet never have the time. I just want to know what a reasonable price for fixing the car would be so I dont get reamed when I take it to get it fixed.

Moved it to the right place for you. Welcome to AF.

My 2 cents, but.... you have a MAJOR problem there and it is anyones guess on cost of repairs. If the oil pump has failed or it was ran without oil or low on oil you could have damage in most all areas such as bearings, pistons, you name it. I would guess a new or rebuilt engine is your best bet but maybe you will be lucky. I doubt it though. The only way to know is to tear it down and that will be costly as it is, let alone repairs. A lead foot never helps but I would guess you had a mechanical failure such as oil pump or dirt got into oil. Sorry not more helpful, I am not a certified mechanic but have worked on my own cars since the 70's and metal shavings in oil is just plain BAD.

To rebuild it right would be more than a new or rebuilt or used engine.
Call some local repair shops and/or bone yards on the cost for another engine.
A repair shop is usually required by law to give you a written estimate before any repair.
You can expect anything from a low 1k for a used engine up to 3-4K for new or rebuilt.
MT