Hole in cheek
If you merely cover the hole to keep water from entering your mast will be fine. It would be like a hole in your cheek. If you cover it up you can still whistle and blow a horn. From what the picture shows there will be very little strength integrity loss.
Sure, when you eventually pull the mast you can have it welded over assuming an appropriate welding method is used to prevent a larger surround that is weaker than what exists with the hole.
Any conflicting comments?
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