There is a recent discussion of this process in the "General" forum under "Morgan 35...."
Those photos look like you have rusted steel bolts bursting from under resin encapsulation. If that is the case, do you have an iron keel?
An iron keel makes it a pretty simple, albeit big job to replace the bolts. Properly replacing the bolts in an iron keel is a much better way to go than sistering and it is very do-able by oneself - I did it on a 10,000 lb. keel (with help from heavy equipment of course). You are then back to new, not just patched up.
Check out the thread I referred to and get back here with any comments or questions
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I, myself, personally intend to continue being outspoken and opinionated, intolerant of all fanatics, fools and ignoramuses, deeply suspicious of all those who have "found the answer" and on my bad days, downright rude.