M_Boats: Rebuilding bow ring reinforcement

I recently discovered that the wood used to reinforce the bow ring if my '79 m-17 had been ruined by water intrusion. The fiberglass over it's top had collapsed. I've removed the damaged fiberglass and the wood pulp, and was planning to glass over the area little by little from the bottom up, filling in the space formerly filled by wood with epoxy thickened with colloidal silica. Does this seem like a poor plan to anyone? Dan Farrell M17 #301