Where does this wire go ?

[Jmunk]

I was checking things over before we go out on our next trip and found this black wire with a a ring terminal end not connected to anything. It's by the distributor cap and appears to come from the near by wore harness.

Black makes me think it's a ground wire? I'm not sure it has ever been connected by the look on the terminal.

4.3
Engine serial # 0M369570

 

[Fun Times]

Yes it's a ground wire and it would be used had your engine model had the mercruiser mercathode system to help with corrosion issues mostly for boats that sit in the water. The mercruiser mercathode system is an option for alpha stern drives.

http://sterndrives.com/mercathode.html