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Posted: 4/22/2016 1:35:58 PM EDT
Yes, it's job is to release air in the system but keep the water in. After awhile they become corroded and let the water out. There is a float inside that opens and closes a bleed valve. If you have a new one on hand, most times you can change them out quickly without to much mess. The systems that I have worked on have a fill valve fed from your house's main water supply that may or may not need to be opened to refill the lost water/antifreeze in your heating system.
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