Exactly the aluminum that's used.
That may seem like a wiseacre answer, but I suspect that it varies by manufacturer, by the date of manufacture, and a bazzilion other considerations. If you happen to get a 'bar stock' engine the aluminum won't even be cast -- it'll be one of the 'four digit' alloys like 6061 or 2011 or something.
Further, at least some manufacturers are going to consider the details to be proprietary. Choice of the alloy used and the post-casting treatment thereof has a big impact on the quality of the finished part, the reject rate, the expense of machining, etc. Letting their competitors in on this knowledge would help the other guy build a better motor, or help him knock your own motor down in the marketplace -- these are both good reasons for wanting to keep the information under your hat.
In general, from what I know of cast aluminum, it'll be a heat-treatable alloy that is, indeed, heat treated. For a crankcase it probably won't have lots of silicon (unlike "hypereutectic" aluminum that's used for high-performance pistons in cars and (I'm not sure) AAC, ABC, and AAO model engines. The heat treating will be done as much to improve machinability as to improve strength, although I'm sure they don't sneer at the extra strength. (Soft aluminum is a pain to machine -- it's 'gummy', which makes it difficult to achieve a good finish). Beyond that there's a wide variety of alloys available, and if the engine batches are big enough the manufacturer will even have some latitude to play with the mix themselves if they feel it'll help.
Should I ever go into model engine production, however, I can practically guarantee you that your engine crankcase will be cast out of old lawnmower engines, bent pool-skimmer handles, and broken lawn chair frames.