I went back and looked at the pics again, thought about the process of how I could fix this at the lowest cost to me if it was mine. This is the process I came up with, if it was mine.
First I think the crack is most likely a casting flaw, sand pocket or some such, and not a failed structual defect. Cant really tell by looking at the picture. With that in mind, i would remove and disassemble the axle. Pressure wash to get rid of any excess oil and grease. Then I would take my air grinder and a good burr bit and start grinding out all the bad metal, until I got out of all the grit and gobble guke that would prevent a good weld. From the look of the defect, it appears to be about 1in wide so i would probably endup with a pretty good hole. I would then take my weed burner and start preheating the metal, all of it , not just around the hole. this should get rid of most of the oils that have soaked into the metal. Once properly preheated,(meaning around at least 600deg, but closer to 800 deg.) I would Surprise! Fire up the mig and start filling the hole. I would use 100%argon gas, your already going to have some carbon in your weld from the burnt oils. Make a pass, check heat, ping with hammer, make another pass, ping with hammer, check heat and repeat until the hole is completely filled. Always maintaining a temp of 600-800 degrees by using the weed burner. Once the weld is complete, cover in a heavy layer of sand and let cool. Check for cracks grind smooth, paint and reassemble. This may not be the way some of the professional folks would do it, but I'm just a hack.
Another thing to consider, since i dont think this crack is structual and more a casting flaw, My only real concern is to just stop the oil leak, If that is the real goal, one could just clean it up and apply JBWeld. If once i got the thing disassembled and i found the crack was more structual and not just a casting flaw, I would probably still weld , but would use one of the ziplock cast welding systems which would run up the welding cost of the repair a significate amount. Before going that route, i would start comparing the cost difference between the welding and replacement.