Not rare at all, I've had 2 go, the second from 3 failing thermostats or rather the sub standard O rings that were used on it.
Bypassing the oil cooler really is an easy job, did the mechanic not offer to do this for you?
However, if you'd have had a puncture you would have been told that it was the head gasket, really boils my ****.
At this very late hour your best bet might be to hire a car so your weekend is not totally ruined.
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