What I did with mine was clean it up good, use wood flour to thicken some epoxy to sticky paste, filled the gaps/etc with that.
Then I put 3 layers of 45/45 12 oz no matt tape with slightly thickened epoxy so it wouldn't run down the sides.
I posted a bunch of pictures and info when I did mine at
http://www.classicseacraft.com/forum...=&fpart=2&vc=1
If you have any questions, let me know, I have done a couple of these, and it's pretty much the same thing each time.