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I think coating it with some tung oil or other surface treatment is a great idea. If that is Wolmanized, they use arsenic to make it undesireable to critters and mold/mildew.

If you have ever...

Kind of off topic here, but: I am using a home made paddle with basswood instead of balsa, if you want an idea for further experimentation. Especially since it seems you have a few more sides left...