Thanks for all of the replies so far, very informative!
Lo-fi, you were right, the piston has melted. Cleaned up the head and it looks good, no cracks!
I did see that the conrod bearing associated with the melted piston has worn down to the copper on one side so im assuming that one will need to be replaced. Will i need to have the crank machined or will just new bearings be ok? The rest of the con rod bearings look good but should i replace those as well?