rudder weeping

Hello - Not sure how to approach this issue, see picture. The port side rudder obviously is leaking out of the rudder. There is prior evidence of patching, but does not appear to have been any significant cut outs made to explore the "real" problem. I am suspecting that there is rust on the...

Hi everyone, New owner of a '84 28+, and this is the first season we've put it up on the hard (here in New England). I was working on the boat today, and noticed that the rudder was showing several rust-like leaks, coming from some small cracks (photo below).... I'm assuming this is bad...