Iron and copper are both wear metals that can presage failure. Copper especially is a marker for lower end bearing failure as
@tiltrider1 suggests and has nothing to do with sitting in a salt water environment for any amount of time (2-months is a lame excuse, BTW).
There was a recent thread about a Hatt 58 that was recently purchased and headed to Tampa from the Mississippi area (I forget exactly). One engine was a bit slower to start than the other one but the buyer proceeded with the purchase. The engine self-destructed a dozen engine hours later. Since the owner was on his way to Tampa, I can only assume he thought the engine was good enough - I wouldn't be surprised if he was given a dismissive explanation along the lines of
"run it for a few hours to re-set the rings." Talk is cheap when you don't have skin in the game.
Attached is a very good article from Steve D'Antonio on interpreting oil analysis.
Good luck. Please update on your progress.
Peter