Frank...I believe you have a cracked engine block
, when coolant is found in the engine oil usually means that there is a leak from one of the chambers that lubricates the engine to one of the passages that cools the engine with coolant (or antigel for that matter) like from one of the piston walls.
I agree with the above explanation in the fact that metals can't "absorb" coolant, however if you have to replace the engine block, might as well get the rest of the trimmings new as well, you'll definitely feel better knowing your bottom end is up to par.