The 4G63 block is made of Cast Iron, by far not the lightest metal in the world.  
However Cast Iron is very strong compared to the lighter metals that have been used
for blocks (Aluminum).  An Aluminum block would save weight but could not withstand
the power levels, and boost pressures that the 4G63 has become famous for being
able to withstand.  Other stronger lighter metals exist however you have to remember
that Mitsubishi/Chrysler was mass producing these little pocket rockets for a dirt cheap
price for the performance.  Other key factors in the strength of the 4g63 are
highlighted above.  Notice the
Yellow circles.  The crankshaft bearing caps are the
items that hold the crankshaft to the underside of the block.  In a non-performance 4
cylinder engine it is not uncommon to have 5 of these that are completely independent
of one another.  However the
Yellow circles show supports that tie the two end caps
together.  This helps to balance and hold the bearing caps together.  Many Honda
engines will tie in all of the bearing caps together, one reason why Honda engines
have also become somewhat legendary in their reliability.   The
Red circles above
highlight the oil sprayers located in the 4G63 block.  The oil coolers spray oil on the
underside of the pistons to help cool them.  This is relatively common on
turbo-charged engines because of the elevated combustion chamber temperatures.