The mast is off of a 1971?
You may not have a small leak but a hole in the mast at the mast tang. That's the stainless part where all the wires attach to the mast. Old mast tangs have one hole to attach all the wires. This causes a lot of load in one place without enough support over a long period of time. The tang would bend and punch a hole in the mast under the tang.
Before you do anything, check here. If you have a one hole tang, replace it with the new one with three holes. This is a job for a dealer. Ron Lane is San Diego is the closest. Call Fast Lane Sailing in San Diego.
This is a simple job, but you need a really good rivet gun to pull this many stainless rivets. You should also install the comptip at this time.
When the mast is cut, you can rinse and dry it all day long!
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