Welcome
Read here about the Vulcan engine
http://www.therangerstation.com/tech_library/3_0performance.html
You can just use the block and heads from another 3.0l for the swap, your current intake, exhaust and sensors will be reused.
Usually it is a blown head gasket, maybe a cracked head, if there is water in the oil.
I would drain the cooling system and the oil and refill with a 30w oil and a new but cheap filter, don't refill with coolant or water.
Unplug coil connector and turn engine over for 5 seconds, repeat 5 or so times, this will pull some new oil into the system pushing out the oil/water, without starting engine.
You could do a compression test at the same time, remove all spark plugs and test each cylinder's compression while pumping in the new oil
Lower compression on 1 cylinder would point to a gasket or head crack vs a cracked block.
Also, if you keep cooling system intact, all hoses connected, drain closed, you can then do a glove test.
Put latex glove or balloon on rad cap opening, plug overflow hose, unhook coil but leave spark plugs in.
Crank engine
If glove bounces/inflates you have a head gasket or cracked head issue, not block
Video of similar test, member used his finger to block overflow and an unusual "balloon", lol
http://www.youtube.com/watch?v=vFGquUimXro&feature=youtu.be
Yes, it was a blown head gasket.
So you may just be able to redo the heads vs an engine swap, how many miles on the current engine?