Senior Moment Member
Join Date: Jun 2011
Location: West Vancouver B.C.
Thanked 114 Times in 109 Posts
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Re: Are these blisters, cracks, or what?
Looks like iron oxide weeping through a coating. Since you say you have an encapsulated keel, my money is on a leaking encapsulation.
I'd grind it open to see what I was dealing with.
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.