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Unfortunately that's all you can do for it but better than nothing.

Jimmy is right, it might not be worth the time & trouble trying to bring that thing back to life. It has been submitted to the wrong elements too long.

That's gonna need some TLC. I wouldn't use a normal sand blaster, be gentle with it. If using a wire brush for a Dremel get a brass one. It will not scratch it up. That's gonna take some gentle work...