Yes, core plug was one of the uses to which they were put. At Rolls Royce, and on the early Perkins, engines screw in brass plugs were used. R-R sealed them with foul smelling Wellseal, as well as aluminium washers, which could only be removed from the skin with Trichlorethylene. (Try getting that today! ) Later they moved to Hylomar, which needed Methylene Chloride to shift it!
Later Perkins engines eventually used stainless steel cup plugs, which were sealed with a Loctite sealant.
The core plug that rusted through and leaked, was always the one at the back of the block, needing the engine out, or a hole cut in the firewall, to replace it.
Newton's Fourth law, the eternal cussedness of things; sometimes attributed to Sod!
Howard