For a low torque/low stress application, like this, helicoil. There just isn’t that much stretch on the studs, helicoil will be great. Drill it square, cast iron will drill and tap easily, but the remnants of the studs will be hard to drill, which means that the bit can get off center, off square, easily. If you have a drill press, that would be best to preserve the drill path and keep it square.