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Old 08-07-2011
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I would get a Dremel cut-off wheel with appropriate mandrel for a size that fits the center hole in the cut-off wheel. The Dremel 456 1-1/2" fiberglass reinforced wheel is an example. It's small enough to get into a tight space and with enough time you can cut through a good size bolt. I would cut the bolt flush and try driving the bolt out with a punch. If that does not work, try drilling it out. First start with a pilot drill of about 1/8 inch and then follow with a 5/16 inch and then whatever the original bolt size. You could also try dissolving the rust with muriatic acid diluted ten to one. You could replace the keel bolts with silicon bronze. Even galvanized works better that stainless for keel bolts because stainless has about the same corrosion resistance as an ordinary steel bolt in an anaerobic environment where air cannot get to the stainless to create the protective coating.
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