Hi Spin
First thing to do with a casting is to clean any flash of it and to run a rule over to check where the meat of the material is and that you can get what you want out of it.
Squaring up in the lathe. with a four jaw
1:- Roughly find the centre by marking across the diagonals, set this up in the four jaw it dosn't realy mater which side you do first, and face it off flat.
2:- Turn it over and do the second side push it hard up against the back face of the chuck or if it sits to far back, push it up against a parallel DONT FORGET TO REMOVE PARALLEL BEFORE YOU START THE MACHINE UP. skim up second side, I find it pays not to bring it to size at this stage leave some meat on and bring it to size with a second set up.
3:- In four jaw skim up an edge, turn it round and using the parallel trick skim up second edge. this gives you two parallel edges
4:- Getting edges square can be a bit more tricky, what I'd do is bring them roughly square with a file and then set them up in four jaw and skim them as for first two sides if you lucky they will come out square if not you may have to pack them out in the chuck, with paper or bear can shim.
5:- When you've got it square you can mark out set up again and bring to size.
6:- Little top square best way if you don't have a mill is to file it.
That's the long winded way
Quick way if you'v got a mill:-
Kit:- End mill or fly cutter, Machine Vice, Dial Test Indicator for setting up vice, Parallels, Set Square.
1:- Get the faces flat and parallel in the lathe four jaw this is far quicker than trying to do it in the mill (I've found) but you could do it in the mill if you want
2:- First check that your vice is set up square (Tram the jaws with a clock)
3:- In the vice Skim up one edge, Set this edge flat on a parallel in the vice. Tip old ball races make good parallels broken down and sliced up into handy lengths with a dremil.
4:- To get edges square this is where traming the vice helps, this time set the work up so that it edge sticks out of the side of the vice, and skim it up using the side of the mill cutter, if the vice is square, it should come out spot on. The final edge is easy by again setting the good edge on a parallel
5:- Mark it out and bring to size.
6:- When you got the outside square the little square on the top should be easy.
If you don't fancy any of these ways you could do it as our Great Grandfather did with a file and a square, it'll take longer:- but hay this is a hobby
Hope this helps
Stew