That crack looks to me like it's following the weld line where the head was forged together before the bitt was inserted. I have a head like that ("Forester" brand, but who made it?). The crack may have been started at the same time that chip got knocked out.
Keep an eye on it as you use the axe.
Beautiful work! And you did a goodness by bringing an abused old axe back from the dead.
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