Mast Pitting - How bad? What to do?

[BrianMiller]

I recently bought a 1973 Tartan 41. I am having the mast painted and there is corrosion/pitting under some of the mechanically attached hardware. The boat is in a yard in Mexico where the work is being done. I am inclined to have them caulk with 3M 4000UV when re-attaching the hardware and figuring out what to do long-term after I get the boat back and can be more involved with the repair.
My impression is that these boats are generally overbuilt and have stout masts. I won't be driving it hard in an offshore race, but I do want to get it home in one piece. Welding a cover plate over the damaged area seems unwise (heat and stress points). A composite "band aid" may be a better solution. Of course, a new mast would be ideal...
The standing rigging has been replaced recently, so I don't have a concern there.
Thoughts? Suggestions?
Thanks much in advance!

[psk125]

Others may know more, or better, but welders can often add material to a corroded area to make it stronger without having to add reinforcement plates. You could also show your pictures to an engineer to find out how worried you need (or don't need) to be.

[wsmurdoch]

You may want to get your hands on a pit gauge. Google away on "pit gauge" to see what I mean. It will let you measure the depth of the pits and compare that to the wall thickness. Some are simple things with a pivoting lever and the fancy ones have a digital readout. Having numerical data helps.